ISLAMABAD

APP

Sensitive Price Indicator (SPI) for theweek ended on September 27, for thelowest income group up to Rs.8,000,registered decrease of 0.53 per cent ascompared to the previous week.

The SPI for the week under review inthe above mentioned group wasrecorded at 182.31 points against 183.28

points registered in the previous week,according to provisional figures of Pak-istan Bureau of Statistics (FBS).

The weekly SPI has been computedwith base 2007-2008=100, covering 17urban centers and 53 essential items forall income groups and combined.

The SPI for the combined group de-creased by 0.37 per cent as it went downfrom 189.03 points in the previous weekto 188.33 points in the week under re-

view. As compared to the corre-sponding week of last year, the SPIfor the combined group in theweek under review witnessed in-crease of 7.46 percent. As com-pared to the last week, the SPI forthe income groups from Rs.8001-12,000, 12,001-18,000, 18001-35,000 and above Rs.35,000decreased by 0.47 percent, 0.45percent, 0.39 and 0.26 percent re-spectively. During the week underreview average prices of 16 itemsregistered decrease, while that of9 items increase with the remaining 28items' prices unchanged. The itemswhich recorded decrease in their averageprices during the week under review in-cluded onions, bananas, potatoes, garlic,sugar, kerosene oil, chicken live (farm),vegetable ghee (loose), tomatoes, gram

pulse (washed), mustardoil, diesel, LPG(11 kg cylen-der), masoor pulse(washed), mash pulse(washed) and moongpulse (washed). The items whichregistered increase in their prices in-

cluded petrol, lawn, egg hen(farm), gur, rice basmati (bro-ken), red chillies (loose), beef,wheat flour (bag) and wheat.The items with no change intheir average prices during theweek under review included rice(irri-6), bread (plain), mutton,milk (fresh), curd, milk (pow-dered), cooking oil (tin), veg-etable ghee (tin), salt powdered(loose), tea (packet), cookedbeef, cooked dal, tea (pre-

pared), cigarettes, longcloth, shirting, georgette,sandal (gents), chappal(gents), sandal (ladies),

electric charges, gas charges (upto100m3), firewood, energy savor,

washing soap, match box, telephonelocal call and bath soap.

KARACHI

STAFF REPORT

THE central bank on Friday warned the exchange firms of ‘A’& ‘B’ categories of punitive action against them if they werefound deliberately obstructing SBP’s inspection teams inperformance of their duties. The punitive action may in-

clude, inter alia, suspension / revocation of their licences, permanentdisqualification of its directors and sponsors to conduct foreign ex-change business in any capacity, said an SBP circular issued Friday.It may be pointed out that the State Bank has the right to inspect theactivities of exchange companies at any time it finds appropriate toensure adherence to its rules andregulations. The regulator reiter-ated that the money exchangerswere required to fully cooperatewith the SBP inspection teamsand provide full disclosure of in-formation required during the

course of inspection, includ-

ing but not limited to their activities, accounts, operations, IT systemsand records and no Exchange Company or any official of its entire net-work shall obstruct or hinder the SBP inspection team that is carryingout duties or functions under SBP directives as well as provide false,misleading or inaccurate information to the SBP inspection teams.BANKS BARRED FROM USING HELD TO MATURITYSECURITIES FOR BORROWING: SBP has decided to prohibitall banks from using the securities classified under ‘Held to Maturity’category for borrowing from SBP in Open Market Operations(OMOs)/ reverse repo facility with effect from 19th October. Giventhe liquidity position of the market, it has been decided that securitiesclassified under Held to Maturity category cannot be used for bor-

rowing from SBP in OMOs/ reverserepo facility, said a circular issuedby the State Bank Friday. It may berecalled that banks were earlier al-lowed to use the securities classi-fied under the category in question

for borrowing under SBP repo facil-ity (OMO)/ discount window.

A slight plungeWeekly inflation falls

SBP’s mood:cautionary; dictatorialCentral Bank warns exchange firms against hindering inspection

Russia set to throwfirst toy out of its pramLikely to contest EU energy rules at WTO

MOSCOW

AGENCIES

Russia is likely to contest European Union energy rules at the WorldTrade Organization in what would be its first trade dispute since it joinedthe global body, a government source said on Thursday. The rules, knownas the Third Energy Package, restrict gas company Gazprom's control overits European pipeline assets and have been an irritant in relations be-tween Russia and the EU, which accounts for half of Russia's trade. Thesource, who spoke on condition of anonymity, said Russia - which joinedthe WTO last month - was looking into whether the EU rules were subjectto WTO regulations and that the study should be completed in two weeks."If the WTO rules are applicable to the Third Energy Package, as well asother measures restricting the Russian imports, we will contest them atthe WTO," the source said. "In all likelihood it is (subject to WTO rules)."Once a WTO member initiates a trade dispute, the country with which it isin disagreement has 60 days to resolve the complaint. After the 60-dayperiod, the complainant can ask the WTO to set up a dispute panel to ad-judicate on the issue. Trade diplomats say they expect Russia will takesome time to settle in at the WTO before engaging in disputes, as Chinadid after it joined in 2001, but others are watching to see whether Russiaor one of its trading partners throws the first punch.

LCCI finally makes a contribution

to actual business activity

Launches directory of trade, industry

LAHORE

APP

The Lahore Chamber of Commerce and Industry has launched its direc-tory of trade and industry that is one of the major contributions that theLCCI has made for enhancing business activities. The data of LCCI 18,000firms has been classified into six main business categories covering manu-facturers, exporters, importers, traders, indenters and service renderingagencies. These categories have been further divided into business sectorsand business subsectors. The directory has 24000 entries of its 18000members. LCCI has produced a comprehensive trade information direc-tory, which by all means should form an essential references compendiumfor every firm having business interests in Pakistan.

That’s a fruitful meetingPPL's 61st AGM approves 65% cash dividend, 25% bonus

KARACHI

APP

The 61st Annual General Meeting (AGM) of Pakistan Petroleum Lim-ited (PPL) was held here on Friday. An announcement said that theAGM approved the financial statements together with the auditor's re-port for the financial year ended June 30, 2012. It further approvedpayment of final cash dividend of 65 percent on ordinary share capitaland issue of bonus shares in proportion of one ordinary share for everyfour ordinary shares held by members. This is in addition to an interimcash dividend of 50% already paid to the shareholders, bringing totaldistribution for the financial year 2011-12 to 115 percent cash dividendand 25 percent bonus shares. On behalf of the PPL Board, the Manag-ing Director and CEO Asim Murtaza Khan apprised members about thecompany's performance, focusing on significant events of financial yearended June 30, 2012. He stated that the company is focused on fast-track exploration and development activities to bring new discoverieson stream through extended well testing and early production facilities,arrest production decline in mature fields by deploying latest technol-ogy, installing booster compression facilities and enlarge portfolio ofproducing assets through local and international acquisitions.

Oil brims overExtends gains in Asian tradeSINGAPORE: World oil prices rose in Asian trade Friday, extending gains made in New York, as rising geopolitical ten-sions in the Middle East stoked concerns over crude supply. Spain's announcement of an austerity budget also helpedlift the market as it eased fears over an escalation of the eurozone crisis, analysts said. New York's main contract,light sweet crude for November, was up 43 cents at $92.28 a barrel in the morning and Brent North Sea crudefor delivery in November added 14 cents to $112.15. "Tensions between Iran and the West reinforcedconcerns about potential supply disruptions," Phillip Futures said in a market commentary. "Is-raeli Prime Minister Benjamin Netanyahu drew his 'red line' for Iran's nuclear pro-gramme in a speech at the United Nations... and voiced confidence theUnited States shares his view," it added. Western powershave been pressuring Iran to halt its nuclear programme butTehran has insisted its efforts were solely for peace-ful purposes. Madrid unveiled it 2013 budget fo-cussed on spending cuts and featuring structuralreforms agreed with the European Union, bringingrelief to the crisis-weary eurozone as it pointed toa full bailout of the debt-strapped nation. IG MarketsSingapore said in a commentary the budget is "widely seen as the firststep to approaching the EU for a full bailout as it gets its house in order". AFP

Saturday, 29 September, 2012

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02

Saturday, 29 September, 2012

Major Gainers

COMPANY OPEN HIGH LOW CLOSE CHANGE TURNOVERUniLever Pak 9400.00 9700.00 9700.00 9700.00 300.00 1,380Unilever Food 3450.00 3500.00 3500.00 3500.00 50.00 20Nestle Pakistan Ltd. 4150.00 4200.00 4150.00 4200.00 50.00 40Colgate PalmolivXDXB1100.00 1150.00 1145.00 1150.00 50.00 350Bata (Pak) Limited 963.53 1011.50 970.01 1013.33 49.80 900

Major LosersRafhan Maize Prod. 4397.00 4177.15 4177.15 4177.15 -219.85 20Wyeth Pak Limited 960.71 985.00 913.00 850.00 -110.71 500Siemens Pakistan 862.00 850.00 850.00 800.00 -62.00 150Pak Gum & Chemical 215.95 211.00 205.16 204.86 -11.09 2,400Fazal Textile 206.72 196.39 196.39 206.72 0.00 100

Volume Leaders

P.T.C.L.A 19.36 19.72 19.38 19.39 0.03 9,386,000Maple Leaf Cement 8.78 9.30 8.80 9.10 0.32 5,493,500D.G.K.Cement 47.86 48.60 47.61 50.30 2.44 4,248,000Fauji Cement 5.99 6.24 6.02 6.37 0.38 3,893,500Tariq Glass Ind. 18.99 19.99 19.00 18.80 -0.19 2,888,000

Interbank RatesUS Dollar 94.7967UK Pound 153.8172Japanese Yen 1.2210Euro 122.6480

Dollar EastBUY SELL

US Dollar 94.50 95.00Euro 121.01 122.06Great Britain Pound 151.67 152.95Japanese Yen 1.2028 1.2129Canadian Dollar 95.30 96.60Hong Kong Dollar 12.00 12.17UAE Dirham 25.63 25.82Saudi Riyal 25.12 25.27Australian Dollar 97.25 99.52

Business

wi-tribe rewards customers

with the best of hi-tech gadgets

ISLAMABAD: True to its mission of redefiningusers’ broadband experience while providing the bestin customer satisfaction, wi-tribe, Pakistan’s number1 broadband for quality of service and customer care,gave its customers a reason to celebrate. Seven 50”3D television sets and 8 all-new iPads (iPad 3) weredistributed among 15 winners of a lucky draw yester-day at the wi-tribe head office in Islamabad and re-gional offices in Lahore, Faisalabad and Karachi.

Fashion Fair on MM Alam Road

LAHORE: Fashion Fair is the first event beingconducted by the multi-brand store Fashion Av-enue located at Vogue Towers on M.M. AlamRoad. This soon-to-be-launched multi-designerstore is a state-of-the-art retail store designed byrenowned architectural firm Architects Inc. Thestore, which is gearing up for an exciting launch inmid October, has an extensive PR and marketingcalendar lined up for the year. Fashion Fair, thefirst of many events which will be taking place, isscheduled as a three-day event for the 21st, 22ndand 23rd of September. The event features an ex-citing array of designers who will be showcasingtheir latest collections. The designers confirmedfor this event are as follows Umar Sayeed who willbe exhibiting his latest Umar Sayeed light range.Umar Sayeed is well regarded in Lahore andKarachi for his excellent finishes, detailed and in-tricate embellishments and contemporary cuts.

PSO’s 36th Annual General Meeting

KARACHI: The nation’s leading Energy Com-pany, Pakistan State Oil (PSO) convened its 36thAnnual General Meeting at a local hotel. The eventwas chaired by Mr. Sohail Wajahat Siddiqui,Chairman-Board of Management (BoM) who con-gratulated the shareholders on being the proudowners of the nation’s first trillion rupee com-pany. Speaking on corporate governance and over-sight mechanisms in place at PSO, the Chairmanstressed that the Board is an extension of theshareholders and acts in a supervisory role to en-sure maximum returns for the stakeholders. Dur-ing his talk, the Chairman also thanked theemployees for their hard work and dedicationwhich has resulted in the company attaining evergreater heights.

Krizmah’s Argentinean Embassy exhibit

ISLAMABAD: The Se-cret Garden collectionlaunched by Krizmahis exhibiting at an ex-clusive and invitationonly event at the Ar-gentinean Embassy inIslamabad house 60,street1,F-6/3 on 27thand 28th September. The exhibition was a specialinitiative taken by the Argentinean Ambassador H.E.Rodolfo Martin Saravia and his wife Mrs. SusanaMartin Saravia to promote a very exclusive Pakistaniart and handicraft that is made by several womenfrom Chitral Community. This is not the first timethat the Embassy of Argentine organizes such typeof events and certainly will not be the last.

Asma T celebrates 4th anniversary

LAHORE: Asma T ofShadman Depilex will behosting a 4 year anniversaryat the salon on Friday 28September. The event willcommence from 12 p.m. to5 p.m. where L’Oreal Pro-fessionnel and Dermalogicaexperts will be present togive free hair and skin con-sultation to guests. Derma-logica will also be givingcomplimentary power-cleanse treatments to guests who bring a friend for askin consultation. These coupons will be valid the fol-lowing day. The event will be held at Asma T's Shad-man Depilex, House no. 33, Shadman Colony 1. NearShadman Market, behind Bank Alfalah, Lahore.

P&G delivers 5 billionth liter of water

KARACHI: Procter & Gamble (P&G) announced amilestone in its effort to save one life every hourthrough sharing clean drinking water. Nearly a

decade ago P&G began providing clean drinkingwater in developing countries through its P&G Puri-fier of Water technology, and has just shared its 5billionth liter – saving an estimated 26,000 livesand preventing over 200 million days of illness. The5 billionth liter was delivered in Malawi, through apartnership with the University of North Carolina.

BRANDS Just Pret exhibitions

KARACHI: Following the success of their multibrand stores and exhibitions,entrepreneurs HadiAnwar, Hasaah Hadi and Somaya AdnantakeBRANDS Just Pret on an international duo of exhibi-tions, in Mumbai and Manchester receptively, fromthe 29th to the 30th of September 2012. In Mumbai,designers Ayesha Aejaz, Ayesha Somaya, HaniaKamran, Hina Khan, Hina Salman, Kanwal, Lylak,Madiha Noman,Maria Kashif, Mehrene, NajmaZubair, Saakh,Tanaaz, Unbeatable, Vasim Asghar,Zahabiya, Zara & Fatema are being exhibited byBrands Just Pret, at Cache, The Arts and CraftGallery, 187, Turner road, Bandra, from 10:30 am.

Coca-Cola collaborates with PDMA

LAHORE: As part of its flood relief efforts, Coca-ColaPakistan collaborated with Provincial Disaster Manage-ment Authority (PDMA) to provide immediate flood re-lief goods to flood affectees of Punjab. The companyprovided ration packages for 2,500 people; mineralwater for 15,000 people; and Minute Maid high nutri-tion juices for 12,000 people. The ration packages con-stituted cooked and dry food items, rice, lentils and oil.

JS Investments’ interim dividend

KARACHI: The Chief Executive Officer under theauthority of the Board of Directors of JS InvestmentsLimited has announced interim dividend for JS In-come Fund & JS Cash Fund for the first quarter of Fi-nancial Year 2013, ending on September 30, 2012.

LG sells 5 million LTE smartphones

LAHORE / SEOUL: LGElectronics (LG) an-nounced that it reached anew milestone with globalsales of five million LTEsmartphones to date. Afterreaching sales of four mil-lion LTE smartphones lastmonth, an additional onemillion smartphones weresold in the month of July –one LTE smartphoneroughly every two and a half seconds. LG releasedthe first LTE smartphone “RevolutionTM by LG”in the U.S. in May of last year through the largestcarrier Verizon Wireless and expanded its LTEtarget markets with its global LTE smartphones.Focusing on the key markets with LTE capabili-ties, LG saw strong acceptance by offering diverseLTE smartphones according to consumer needs.Currently, more than ten LG LTE smartphones areavailable in countries where LTE service is avail-able, including Korea, U.S., Japan and select mar-kets in Europe and Asia.

CORPORATE CORNER

KARACHI: Servis Eid Festival Car winner Qurban Ali fromOkara receiving the Honda City car from Mr. MuhammadAkram (Advisor, Service Sales Corporation) along withcompany CEO, Mr. Shahid Hussain.

LAHORE: Mobilink has accounced collaboration with AtifAslam under the banner of its youth brand, Jazba, forPakistan’s first ‘rock-umentary’, which will be filmed duringa ten-city tour.

KARACHI: The Consul General of the Federal Republic ofGermany Dr.Tilo Klinner, and Mrs.Luba Klinner, hosted a JazzConcert and reception at their residence. Picture showsDirector Goethe-Institut, Mr.Ali Akhtar, Press and Politicalofficer, Dr.Mohmmad Altamash, with artists Peter Wenigerand Asif Sinan, with other guests.

MADRID

AFP

SPAIN'S government unveiled Thurs-day a 2013 budget that tightens aus-terity even in the teeth of growingprotests, easing the path to a widely

expected sovereign bailout. The 2013 budgetrakes in 39 billion euros ($50 billion) inspending cuts and tax increases so as to curbthe public deficit despite a recession, a joblessrate of nearly 25 percent and soaring debt re-payments.

Only old-age pensioners were spared in theslew of cuts, aimed at ensuring Spain complieswith its commitment to the European Union toget the public deficit under control.

"It is a budget for a period of crisis, butaimed at getting out of this crisis," DeputyPrime Minister Soraya Saenz de Santamariatold reporters after a cabinet meeting.

Defying market scepticism, Madrid vowedto slash the deficit from a blowout figure of 8.9percent of economic output last year to 6.3percent this year, 4.5 percent in 2013 and 2.8percent in 2014. "It is a major commitment toreducing the public deficit but also oriented to-wards economic growth and creating employ-ment" Budget Minister Cristobal Montoro toldjournalists.

The focus is on spending cuts, the govern-ment said. Expenditure by ministries is low-ered by 8.9 percent, public sector salaries arefrozen for the third year running and the re-gions, which pay for health and education,

must find seven billion euros in savings.But retirement pensions are expected to go

up by one percent, sticking to a key pre-elec-tion promise of Prime Minister MarianoRajoy's conservative government.

One other big item going up next year,however, is the cost of servicing Spain's publicdebt: interest payments are forecast to leap33.8 percent to 38.6 billion euros.

Spain tightens austerityscrew in 2013 budget

KARACHI: The nation’s leading Energy Company, PakistanState Oil (PSO) convened its 36 th Annual General Meeting ata local hotel. The event was chaired by Mr. Sohail WajahatSiddiqui, Chairman-Board of Management (BoM) whocongratulated the shareholders on being the proud owners ofthe nation’s first trillion rupee company.

WAPDA completes

installation of 12

desalination plants LAHORE

STAFF REPORT

The Pakistan Water and Power Develop-ment Authority (WAPDA) has completedthe task of installing 12 desalinationplants along Manchar lake for providingpotable water to the populace residing inthe areas adjacent to the lake. The hon-ourable Chief Justice of Pakistan, duringthe hearing of a suo-moto notice, had di-rected WAPDA and the Sindh Govern-ment to install desalination plants alongthe lake to provide contamination-free,safe drinking water to the fishermen folkof the area. The construction as well asinstallation of all the 12 plants have beencompleted by WAPDA, however, bothWAPDA and the Sindh Government havearranged the funds for six plants each.The water treatment plants have cumula-tive design capacity of 15000 liters perhour. Over 4,000 families of fishermenfolk (about 32,000 to 40,000 persons)are being facilitated with high qualitypotable water (total dissolved solids 200- 300 particles per million) by treatinghigh saline effluent of Manchar lake(total dissolved solids 5000 – 10000particles per million). The Sindh Govern-ment-funded plants have been handedover to the province, while handing overof rest of the six WAPDA-funded plantsis under process. WAPDA has madearrangements for effective operation andmaintenance of the plants.

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