Bahraini business team arrives
By our correspondent
ISLAMABAD: A high level government and business delegation led by Bahrain’s minister of commerce, industry and tourism, Zayed R. Alzayani has arrived in Pakistan to take part in the first major business conference between the two countries, a statement said on Tuesday.
“Ministry of commerce and Pakistan’s embassy in Bahrain have jointly organised ‘Pakistan-Bahrain Business Opportunities Conference 2017.’ It is for the first time the country has received such a large business delegation from any gulf country,” Javed Malik, Pakistan’s ambassador to Bahrain stated upon his arrival in Islamabad.
“It was a visible sign of the success of the conference, which will be attended by over 100 business and official delegates from Bahrain.” Malik added that as a tangible outcome of their efforts, the Bahraini businessmen have already established “Pakistan Bahrain Holding Company” that brings together prominent Bahraini investors, who are enthusiastic about exploring opportunities of business, trade and investment in Pakistan.
“Minister of commerce, Khurram Dastagir Khan and his Bahraini counterpart will co-chair the conference, while Khalid Al Moayyed, chairman Bahrain chamber of commerce, and Zubair Tufail, president FPCCI will co-host a business to business session in addition to a joint meeting of Pakistan-Bahrain Business Council,” ambassador Malik said.
He further said that overseas Pakistani businessmen from Gulf countries including UAE, Qatar, and Saudi Arabia are also taking part in this conference. “Pakistan offers some of the best business opportunities; however, more needs to be done to properly project our potential and this initiative is one step in that direction,” Malik remarked.
More water reservoirs urged
LAHORE: There is a dire need to build more water reservoirs to avoid a full-blown water crisis in the country, Rao Irshad Ali Khan, former chairman, Indus River System Authority (IRSA), said on Tuesday.
Talking to APP, he said surplus the government failed to store surplus due to lack of storage facilities. “Last year, nearly 12 million acre feet (MAF) water was wasted in the sea,” he said, and added Pakistan's annual water requirement was around 102MAF.
He said, annually, the country received between 120 and 125 MAF water-a slight surplus. "Anything above 125MAF cannot be tapped till storage facilities are built," Rao said. He said whenever floods hit the country there are strong voices for the construction of dams and reservoirs, but after some times, the voices die down.
Oman Air, Lufthansa collaborate
News Desk
KARACHI: Oman Air, the national airline for the Sultanate of Oman, is continuing its expansion across Europe and North America by signing a new partnership agreement with Lufthansa, a statement said on Tuesday.
Under the new agreement starting March 26, guests on Oman Air can connect to 59 destinations across Europe and North America from Lufthansa’s Frankfurt and Munich hubs on an interline basis, it added.
At the same time, Lufthansa will code share with Oman Air on Oman Air operated services from both Frankfurt and Munich to Muscat, allowing their guests to experience the hospitality and outstanding service of Oman Air.
NIFT to provide clearing facility
By our correspondent
KARACHI: The National Institutional Facilitation Technologies (NIFT) will provide special clearing facility till 5pm on Friday, March 31 to facilitate the collection of government duties / taxes, the State Bank of Pakistan said on Tuesday. Banks were advised to keep their concerned branches open on March 31, 2017 (Friday) till such time that is necessary to facilitate special clearing for the government transactions.
Khushhali Bank to overhaul system
News Desk
KARACHI: Khushhali Microfinance Bank on Tuesday signed an agreement to acquire the leading core banking system by Temenos (the software specialist for banking and finance), a statement said. The system will be implemented by the National Data Consultant (NDC), a specialised Fintech solution provider and Temenos Certified Partner in the MEA region.