Financial Risk Manager

Ways of Financial and Risk Management

The Rich Will Pay - Taxation Policy

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NO CUTS. That was the slogan of one British protester who walked through my neighbourhood on Saturday. It seemed an extraordinary hope for a country with a £150 billion deficit. My colleague Bagehot found that most protesters accept that some cuts are necessary; they just disagree on the pace and scale. But there is a school of thought that cuts can be avoided entirely by closing tax loopholes for the corporate sector or by taxing the rich.

We hope to run a chart on corporate tax revenues later in the week but here are the OECD data for personal tax rates as a proportion of GDP. As you can see, Britain's tax take from income is well above the OECD average, although not at Scandinavian levels. It is higher, however, than France or Germany.

Now, of course, it is possible that the tax take might be high as a result of punishing poor working stiffs, while the rich get off scot-free. Scott Hodge of the Tax Foundation used an OECD study to calculate the relative shares of income tax paid by the top 10%, with their share of national income. On average income tax systems in the OECD are progressive in the sense that the richest pay proportionately more; the ratio is 1.11. The UK weighs in at 1.2.

Now, of course, income tax is only part of the story; money is also raised via sales taxes which are more regressive. The US rich, for example, pay proportionately more of the income tax but the US's income tax burden is below the OECD average. Britain, however, has an above average income tax burden and is more progressive than average. These geese are already well plucked.

Leaving Denmark aside, what if Britain aimed to be, say, Sweden? It could try to get another 3% of GDP that way (although the budget deficit is in double digits). However, who are the British rich? Many of them are based in the City, and are not necessarily British at all, but American, French etc. They are not in London for the weather or the transport system and could move elsewhere. For those who doubt that there is a trade-off between tax rates and tax take, note that the Swedish system has high marginal tax rates but in terms of tax take, is less progressive than Britain.

Source: The Economist

posted @ 2:35 PM, ,

Travel Insurance

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Travel insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country, or internationally. Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a more extensive, continuous insurance can be purchased from travel insurance companies, travel agents or directly from travel suppliers, such as cruiselines or tour operators. However, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies. Travel insurance often offers coverage for a variety of travelers. Student travel, business travel, holiday insurance , leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured.

UK travel insurance provider Flexicover Direct offers cheap travel insurance and Holiday Insurance at affordable prices. They provide a comprehensive range of cheap travel insurance policies including Single Trip, Annual-Multi Trip, Gap Year, Long Stay and Winter Sports cover. Do you have a pre-existing medical condition or are you aged over 65? They can offer travel insurance and holiday Insurance at affordable prices for both pre-existing medical conditions and over 65 insurance cover, when you purchase a Single Trip, Annual-Multi Trip, Gap Year (to age 45 only) or Long Stay Travel Insurance. Cover includes emergency medical expenses and dental treatment, cancellation, baggage, personal liability, personal accident, and 24/7 access to medical assistance.

posted @ 2:28 PM, ,

Radiation Levels at Japan Nuclear Plant Reach New Highs

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As radiation levels at the Fukushima Daiichi nuclear plant reached a new high Sunday, workers contended with dark, steamy conditions in their efforts to repair the facility’s cooling system and stave off a full-blown nuclear meltdown. Wearing respirators, face masks and bulky suits, they tried to reconnect cables and restore power to motor pumps the size of automobiles.

Leaked water sampled from one unit Sunday had 100,000 times the radioactivity of normal background levels — the highest radiation readings yet — although the Tokyo Electric Power Co., which operates the plant, first calculated an even higher, erroneous, figure it didn’t correct for hours.

Tepco apologized Sunday night when it realized the mistake; it had initially reported radiation levels in the leaked water from the unit 2 reactor as being 10 million times the norm, which prompted an evacuation of the building.

After the levels were correctly measured, airborne radioactivity in the unit 2 turbine building still remained so high — 1,000 milli­sieverts per hour — that a worker there would reach his yearly occupational exposure limit in 15 minutes. A dose of 4,000 to 5,000 millisieverts absorbed fairly rapidly will eventually kill about half of those exposed.

The latest confusion in the operation to stave off a full-scale nuclear meltdown at the crippled facility underscores the immense challenges for the several hundred workers in a desperate battle to restart the critical cooling systems. Seventeen workers have been exposed to high levels of radiation, including three who were hospitalized last week, as technicians conducted highly nuanced electrical work in dark conditions that one nuclear industry expert termed “hellish.”

Japanese authorities say efforts to control Fukushima’s overheated reactors will take months and during that time radiation will continue to leak into the environment, extending a nuclear emergency that already ranks as the world’s most serious in a quarter-century. Several hundred workers now shoulder the responsibility for limiting the crisis, amid potentially lethal radiation levels, and on Saturday the chief of Japan’s nuclear agency called on Tepco to improve its worker safety.

Evidence of rising contamination in and around the plant has tempered optimism from a week ago, when engineers began work to restore power to the first of the damaged reactor buildings. Japan’s Nuclear and Industrial Safety Agency said Sunday that a new measurement of seawater taken about 1,000 feet from the facility showed an iodine level 1,850.5 times the legal limit, higher than a reading taken the previous day.

The dangers in unit 2 merely add to the growing challenges. Radioactive water is pooling in four of Fukushima’s six turbine rooms, and engineers have no quick way to clean it up, although they have begun to try in unit 1.

While a Tepco spokesman said Sunday that he did not know how the radioactive water was leaking from the reactor cores, Yukio Edano, chief cabinet secretary, said in a televised interview Sunday morning that the reactor itself had not been breached.

He said it was clear that water that could have been inside the unit 3 reactor had leaked but the reactor had not been breached. Still, he said, “Unfortunately, it seems there is no question that water, which could have been inside the reactor, is leaking.’’

Unlike in newer reactor designs, the older boiling-water reactors at Daiichi are pierced by dozens of holes in the bottoms of their reactor vessels. Each hole allows one control rod — made of a neutron-absorbing material that quickly stops nuclear fission inside the reactor — to slide into the reactor from below, as happened when the earthquake shook the plant March 11. During normal operations, a graphite stopper covers each hole, sealing in highly radioactive primary cooling water, said Arnie Gundersen, a consultant at Fairewinds Associates with 40 years of experience overseeing boiling-water reactors.

But at temperatures above 350 degrees Fahrenheit, the graphite stoppers begin to melt.

“Since it is likely that rubble from the broken fuel rods . . . is collecting at the bottom of the reactor, the seals are being damaged by high temperature or high radiation,” Gundersen said. As the graphite seals fail, water in the reactor will leak into a network of pipes in the containment buildings surrounding each reactor — the very buildings that have been heavily damaged by explosions. Gundersen said that this piping is probably compromised, leaving highly radioactive water to seep from the reactor vessels into broken pipes — and from there into the turbine buildings and beyond.

To stabilize the facility, workers are trying to repair the elaborate cooling system, necessary to keep the reactor cores and spent fuel pools from overheating. For now, they are conducting this work in dark, steamy conditions. Nuclear safety experts say they must shift out of the most dangerous areas every 30 minutes to an hour, to prevent radiation overexposure.

Meanwhile, they are racing to repair motor pumps. Their environment resembles a cavern of cables. Some of the equipment was damaged during the March 11 earthquake and tsunami. Other equipment has been corroded by salt water, which was poured into the facility during earlier efforts to cool the reactors.

“To a layman, you’d be scared to death,” said Lake Barrett, a nuclear engineer who directed the cleanup of Three Mile Island. “You’re working with salt water around your feet. This is not the way electricians usually work.”

The number of workers at the Daiichi plant fluctuates from day to day, ranging between 500 and 1,000. But Tepco employees account for only a part of the labor force. Last Tuesday, for instance, there were 700 people at the plant, a nuclear agency official said. The figure included 500 Tepco employees, 100 subcontracted workers, and 100 members of Japan’s Self-Defense Forces or the Tokyo Fire Department.

One subcontracted worker who laid cables for new electrical lines March 19 described chaotic conditions and lax supervision that made him nervous. Masataka Hishida said neither he nor any of the workers around him was given a dosimeter, a device used to measure one’s exposure to radiation. He was surprised that workers were not given special shoes; rather, they were told to put plastic bags over their street shoes. When he was trying on the gas mask for the first time, he said, the supervisor told him and other subcontractors, “Listen carefully, I’m only going to say this one time,” while explaining how to use it.

When Hishida finished his work shift, an official scanned his whole body for radiation. He came up clean, except for the very tip of his beard. He was sent into a shower where he lathered up and scrubbed his beard. He was tested again and passed.

A few days later, still worried about the extent of his radiation exposure, he trimmed his beard.

Post from Washington Post

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posted @ 10:24 AM, ,

Storage Edinburgh

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Whether you are moving house, expanding your offices or archiving some old documents, Safestore offer the perfect storage solution. It can sometimes seem like a difficult task to find the appropriate venue to store your belongings in, but with an ever-expanding portfolio of over 90 locations throughout the country, Safestore bring secure, affordable, flexible space closer than ever.

There are a list of self storage stores and business storage centres located in Edinburgh or nearby on the site. For self Storage Edinburgh and to find out which stores offer household storage, business storage, furniture storage or office space in Edinburgh, you can select the store that you wish to view more details about.

posted @ 10:14 AM, ,

Money Market and General Upadtes - 22-03-2011

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Money Market Updates

-Money market opened at 13.90 with a high of 13.90 and low 13.60 and closed at 13.90. Market remained under liquidity crunch today. State Bank is to conduct a T-Bill Auction today in which the total participation is 288.054 billion rupees and the auction is of 150 billion rupees.

General Updates

-Pakistan has imported more than 90 million kilograms (kg) of tea worth Rs17.2 billion in the first eight months (July to February) of fiscal 2010- 11. With a population of 180 million, the country’s import figures represent per capita consumption of 0.5 kg, compared with Afghanistan, which imported over 68 million kg, despite a population of only 20 million, representing per capita consumption of 3.4 kg.

-Banks lending to Small and Medium Enterprises (SMEs) has been falling despite all efforts made by the State Bank, while its` role is shrinking instead of growth in the economy.

-Bad debts of the country’s banks and development financial institutions (DFIs) have increased by Rs 54 billion to Rs 562.404 billion in second quarter of the current fiscal year, ranging from October 1 to December 31, 2010-11. Non-performing loans (NPLs) of all banks and DFIs ballooned to Rs 562.404 billion in the second quarter of FY11 compared to Rs 508.832 billion in the first quarter of FY11. Figures from the State Bank reveal that, during the said quarter, banks’ net NPLs to their net credits increased to 5.51 percent against 4.65 percent in the previous quarter.

-Oil prices rose by over $2 a barrel, as a wave of U.N.-mandated air strikes on Libya and proliferating unrest in the Middle East fanned concerns about oil supply from the region. Brent crude for May was up $1.80 to $115.73 a barrel by 1234 GMT after earlier trading over $116, while U.S. crude for April gained $1.81 at $102.88 a barrel.

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posted @ 10:11 AM, ,

Dinning Room Tables

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People these days have a penchant to reflect their personality and their unique tastes and preferences in their furniture items, and it is often not easy to find one that can strike the right cord. Spacify is a perfect place that can win your heart with its varied quality furniture products that are perfect blend of style and utility. Whether you are looking to give a face lift to your home decor or just wishing to replace your old sofa with a modern piece, Spacify gives you the ultimate furniture shopping experience as you can select form its various European and Italian design furniture to give the right feel to your home decor.

Any kind of modern Dining Room Tables on your mind is available here. You can get modern dining sets, contemporary 5 piece or 7 piece dining room sets, inexpensive dining room sets, furniture dining sets, round dining sets, affordable wooden dining sets, contemporary formal dining sets online at Spacify. Designer Italian formal dining room sets come complete with glass or wooden top tables, buffets, cabinets and dining chairs for you to choose from.

posted @ 10:09 AM, ,

Forward Cover Facility Against Imports

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Attention of Authorized Dealers is invited to Para 1 of F.E. Circular No. 8 dated July 08, 2008 in terms of which forwarded booking against all types of imports was temporarily suspended.

In order to meet the genuine business needs of importers, it has been decided to restore the said facility with immediate effect subject to compliance of all related instructions contained in Chapter IV, FEM-2002 and the following terms and conditions:

1. Forward cover facility will be made available to importers against the Letter of Credit only.

2. No forward cover facility will be provided for a period of less than one month. Roll over in those cases where import payment is not made in accordance with the schedule, will be allowed subject to the condition that the roll over is not less than one month

3. In terms of instructions contained in chapter IV of F.E. Manual 2002, banks will ensure abinitio that the facility is being availed for genuine import transaction and that the importers do not hedge more than the underlying exposure. 

Furthermore, if during SBP’s inspection or at any point of time, it is found that the said facility was misused for and not against genuine transactions, action will be taken by SBP under Foreign Exchange Regulation Act, 1947, against the concerned bank and the importer.

4. As per the existing regulations, all forward contracts against which the L/Cs are cancelled are required to be closed out on maturity and differential is settled between the importer and the bank. However, all such cases, where underlying L/Cs were cancelled will be submitted to SBP on maturity with full details, reasons and justification, for further action by SBP as deemed appropriate in terms of regulations under the FERA Act 1947.

Authorized Dealers are advised to bring the above to the notice of their constituents, for strict compliance.


posted @ 10:29 AM, ,

Questions and Answers Arising From New Ordinances

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Question No. 1

Whether or not Yarn sales made on 15-03-2011 in local market to non-exporter customers will also be subject to 17% sales tax as the same had already been dispatched before the issuance of SRO after business hours.


Zero rating to textile products has been granted through SRO 509(I)/2007. The aforesaid notification has been amended through SRO 231(I)/2011 dated 15.03.2011. The amending notification is effective from the date of its issuance hence the amendment has effect on the supplies made on or after 15.03.2011. There is a hardship for the persons who had made supplies on 15.03.2011 in business hours and at that time no one was aware of the fact that the Federal Government was going to amend the notification, however, since law has its own course, the persons supplying goods on 15.03.2011 shall be liable to pay tax. I would like to draw your attention that in the Finance Bill for the year 2001-2002 presented in the Parliament on 18.06.2001, the rate of further tax [which was applicable on goods supplied to unregistered persons] was enhanced from 1.5% to 3%. These provisions were given immediate effect, however, the persons who had made supplies on 18.06.2001, were facing the same problem as the Bill was presented in the Assembly in the evening hours of 18.06.2001 whereas the supplied had been made at the rate of 1.5% in the business hours on 18.06.2001. While conducting audit of the sales tax record of the registered persons, the auditors made out cases against the taxpayers through which demands of the differential amounts of further tax were raised. Keeping in view the genuine hardship faced by the taxpayers, the Federal Government had to issue SRO 202(I)/2002 dated 04.04.2002 through which it granted exemption of further tax chargeable under section 3(1A) of the Act in excess of 1.5% on all taxable supplies made by the registered persons on 18.06.2001. Unless such an exemption notification is issued in respect of supplies made on 15.03.2011, you would remain liable to pay tax on supplies made on 15.03.2011 irrespective of the fact that the notification was issued after business hours.

Question No. 2

We being manufacturer cum exporter, if sell our yarn to other manufacturer cum exporter who manufactures cloth from the yarn and then exports the same, whether our sale would be treated as zero rated or subject to 17% sales tax. If it is zero rated what should be the required evidence to justify our sale that we actually sold yarn to manufacturer cum exporter who ultimately exported cloth?


In case you are selling yarn to such a person who is registered as a manufacturer cum exporter, the supplies would be chargeable to zero rating of sales tax. You can retrieve the sales tax registration certificate of the buyer exhibiting that he is registered as manufacturer cum exporter. The buyer would use the yarn in the manufacture of fabric which would be either exported or would be sold in the local market. In case of export, the goods shall be chargeable to zero rating of tax. In case of local sale, if such a sale is again made to a manufacturer cum exporter or exporter, the goods shall be chargeable to zero rating of tax. However if the goods are sold in the local market to a person neither registered as manufacturer cum exporter nor exporter, the goods shall be charged to tax at the rate of 17%.

Question No. 3

We being manufacturer cum exporter, if sell our yarn to other manufacturer cum exporter who exports the same without any processing, whether our sale would be treated as zero rated or subject to 17% sales tax. If it is zero rated what should be the required evidence to prove that we actually sold yarn to manufacturer cum exporter?


The reply to the first part of the question has been given in above paragraph. The only evidence that the goods are sold to the manufacture cum exporter or exporter, will be the sales tax registration certificate of the buyer.

Question No. 4

What will be the status of Cotton Ginner registered as manufacturer cum exporter & otherwise selling his cotton to manufacturer cum exporter? Whether cotton has also become subject to 17% sales tax.


Under SRO 509(I)/2007, ginned cotton is also subjected to zero rating of sales tax. In case the ginner supplies cotton to manufacturer cum exporter, it shall be chargeable to tax at the rate of zero percent otherwise it shall be chargeable to standard rate of 17% sales tax.

Question No. 5

If we sell some old machinery for which at the time of its purchase we had paid sales tax @ 15%, whether its sale today after the issuance of SRO 230 will be again subject to 17% or not?

Zero rating of sales tax on plant machinery and equipment including parts thereof, has been withdrawn w.e.f. 15.03.2011 so any machinery, whether new or old, sold on or after 15.03.2011 has become liable to sales tax at the rate of 17% irrespective of the fact whether you had paid sales tax at the time of its purchase.

Question No. 6

Since zero rating of sales has been withdrawn effective March 15, 2011, therefore, we request you to confirm as if the stock already held and imported at zero rated but sold on or after March 15, 2011 would be subjected to 17% sales tax or not. Till now there is no such circular or clarification from the board on this matter.


Zero rating of sales tax on plant machinery and equipment including parts thereof, has been withdrawn w.e.f. 15.03.2011. Any supply of these goods on or after 15.03.2011 shall be subjected to 17% sales tax and 2.5% SED irrespective of the fact whether these were imported under zero rated regime.

Question No. 7

Please clarify this increase of Excise duty of 1 to 2.5% for zero Rating sector because as per SRO 509(1)/2007 , sales tax will be charged at the rate of zero rating percent on the supply and import thereof .
Now through SRO 231 (1)/2011, this zero rating of sales tax is there but in a restricted manner, then what will be the applicability of this increase of 1 to 2.5 % FED because when it was 1%, then it was not being applicable. What will be the status in case of textile and leather especially?


Zero rating of sales tax on textile and leather has been restricted only if these goods after import or domestic production are sold or purchased between persons registered as manufacturer cum exporters or as exporters, for use or utilization in goods meant for export. In case these goods after import or domestic production are sold or purchased between persons not registered as manufacturer cum exporters or as exporters OR for use in goods meant for local consumption, zero rating of sales tax shall not be applicable under SRO 509(I)/2007. When the supply of those goods is out of the ambit of SRO 509(I)/2007, the exemption of SED in terms of Sr. No. 25 of the Table given below SRO 655(I)/2007 shall also be not available to the goods. Some advocates still hold the view that even the goods supplied to persons other than manufacturer cum exporters or exporters OR for use in goods meant for local consumption, become liable to 17% sales tax but those still remain exempt from SED. However, this point of view has to be tested for judicial scrutiny by competent court of law. Before taking any action, it would be advisable to seek categorical ruling from FBR to avoid any future complication.

posted @ 9:38 AM, ,

Dolls Village Festivities

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With Monika Kuppler in Thatta Ghulamka Dheroka busy with series of her pottery workshops and Dr. Norbert Pintsch also in the village, Thatta Kedona spring activities are picking up. 

Work is in progress at different projects in addition to electricity by kites project. Thekedar Iqbal from Harappa is busy in various the repair work, a group of students from Women College University is expected to come and spend a day in the village. Flowers and decorative trees will be handed over to residents under ‘one boy one tree’ program.

While this is happening in the village, dolls and toys from Thatta Kedona are on display at Alhamra Art Gallery with the collaboration of Daachi-Foundation. Large number of friends of dolls  came to visit Thatta Kedona stall at Alhamra Art Gallery. 

Daachi Foundation mela has a message to create an atmosphere of harmony, tolerance, unity among the nation by establishing a peaceful society and promotion of traditional art and crafts. The mela not only entertained the masses but also provided an opportunity to know about the traditional arts and crafts and to bring them closed the real culture of this land. A large number of Lahorites along with their families visited the festival with full zeal.

posted @ 9:12 AM, ,

Email Solutions

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Growing the value of your customer relationships while also converting new prospects can be a tough challenge. But the effectiveness of today’s email marketing tools now makes it surprisingly affordable. Today’s email marketing is perfectly suited to the way small businesses have always operated. It is personal, immediate, easily tailored to what makes you unique. Above all, it’s practical. 

Easy Contact by Deluxe is an intuitive email marketing platform that lets you easily create, send and manage email solutions campaigns with ease. All of our solutions are designed to meet your specific email marketing needs including creative design, contact list management, scheduling, performance tracking and more. With plans starting as low as $9 a month, Easy Contact offers unmatched value and flexibility for businesses of all sizes. Check out which plan best suits the needs of your business and get started today!

posted @ 12:46 AM, ,

Loge Design

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When you see a logo design that makes you say "WOW!" it's most likely the result of creative visual thinking. Creative logo designers think about what they see and are able to see what they think. That's the difference their in-house team of professional logo designers bring to their logo design project. They work directly with you throughout every step of the process to create a unique and memorable logo that will make their business stand out from the crowd.

You will have a team of professional logo designers (all in-house) working on their project at all times. Their designers will supply you with 15 - 30 unique and custom created logos for you to choose from. All you have to do is select the ones you like and provide any changes, their logo designers will do the rest. They offer unlimited revisions and you have direct communication with their logo designers at all times.

posted @ 12:37 AM, ,

Three New Ordinances Promulgated

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President Asif Ali Zardari on Tuesday promulgated three ordinances. Details are as under;

1:17 percent sales tax on 

  • fertilisers, 
  • agricultural tractors, 
  • pesticides, 
  • plants, 
  • machinery and 
  • equipment including its parts, 

2: 15 percent income tax surcharge for Tax Year 2011 and 

3: Raised special excise duty (SED) from 1 to 2.5 percent. 

4: Federal Board of Revenue (FBR) has restricted the sales tax zero-rating facility of five export sectors - 

  • textile, 
  • leather, 
  • surgical, 
  • sports and 
  • carpets 

to only registered manufacturers-cum-exporters or exporters for export purpose by amending SRO509(I)/2007. 

5: The domestic supplies of these five zero-rated sectors will now be liable to sales tax at the standard rate of 17 percent.

6: The FBR has rescinded SRO.564(I)/2006 whereby sales tax was charged on sugar at the rate of Rs. 28.88 per kg. Now, the sales tax would be assessed on the actual market price of sugar. The rate of sales tax on sugar would remain unchanged at 8 percent. The assessable value of Rs 28.88 is creating a market distortion since ex-factory prices range between Rs 50 and Rs 60. 

7: The FBR has withdrawn sales tax zero-rating facility on plants, machinery and equipment by amending the SRO.549(I)/2008. The sales tax exemption has been withdrawn on fertilizers, pesticides and tractors. The FBR has also withdrawn sales tax exemption of input tax on agricultural tractors. The Sales Tax (Amendment) Ordinance, 2011 has been issued to impose 17 percent sales tax on agricultural tractors.

8: One-time 15 percent income tax surcharge and raise in the SED from one to 2.5 percent respectively for the remaining period of the current fiscal. 

9: The government would generate an additional revenue of Rs 53 billion through these fresh taxation measures in the remaining period of the current fiscal year.

10: The government has taken a number of measures to reduce its expenditure. These include a ban on the purchase of durable goods till July 1, 2011. 

11: The government has also imposed a temporary ban on fresh hiring and recruitment. In addition, the government has totally banned capital expenditure and effected a 50 percent cut in travel and stationery budget. The cut in travel and stationery would help government save Rs 1 billion.

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posted @ 5:41 PM, ,

Picture of The Day - By Business Recorder

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posted @ 9:11 AM, ,

Payroll Services

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Customer service is at the heart of their business, which is why they are constantly working to improve systems and have achieved a 100% rating of “very satisfied” in every annual survey. They’ve found it’s the details which make the difference, such as advance processing schedules, highly trained staff, unlimited telephone support and secure pay slips. They are so confident in their payroll services that they will process ytheir Year End returns and P60's for free if you feel they have not lived up to their promises.

With 20 years experience in the industry, they’ve perfected the art of payroll. Their HMRC accredited systems, professional expertise and unrivalled service guarantee complete peace of mind, giving you more time to focus on business. They specialize in delivering payroll services UK to SMEs throughout the UK and manage every step of the process, ensuring a reliable, cost effective and dedicated service.

posted @ 5:27 PM, ,

Mud Architecture

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Concept of shifting to mud architecture is creating waves in Pakistan. It is heartening to know that a lot is happening to convert this concept in to a reality in the form of proposed Mud Village, Peerzada Festival Area, Lahore.

Mud is an excellent construction material. It is being used as a building material since prehistoric times. Mud structures can still be found in a variety of climates across the globe; In Pakistan, it is most strongly associated with rural culture. The idea of mud building is now coming to urban areas. Construction of model mud village in Lahore is the case in point.

Society for the Promotion of Art and Culture (SPARC), registered in Lahore since 1994, is starting construction of mud village for handicraft men. Prof. Dr. Norbert Pintsch (Senior Expert Service Bonn, Germany) is planning to coordinating the project and giving it a practical shape.

Prof. Dr. Norbert Pintsch is an experienced architect by profession is very passionate about mud architecture. Since completing first building project as an architect at the age of 18, Prof Dr Norbert Pintsch has been in various activities as an architect and civil engineer all his life.

In addition, Iqbal, a local builder from Harrapa, Ghayyoor Obaid, a famous architect, Peerzada Festival Area, a concern that is providing space for construction of mud village near world famous Puppetry Museum are also involved in the project. Beacon House University, Department of Architecture and Building Research Institute are also likely to participate.

It is not good enough to assume that “everything from the past is good. It is necessary to show,” says Dr. Norbert Pintsch who is very passionate about the project. Like national University in Colombia where students practice construction with local materials like bamboo and wood, the project will give an opportunity to the students of Beacon House University to practice what they have been learning while adapting the construction technique mixed with appropriate technology in Pakistan.

Prof. Dr. Norbert Pintsch never gets tired of talking about his passion and, given my own interest, I don’t get tired of listening about the details of the project. Please stay tuned and I will endeavor to bring every detail as the project unfolds.

posted @ 4:09 PM, ,

UOG Convocation 2011

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The University of Gujrat Second Convocation 2011

The University of Gujrat Second Convocation 2010

posted @ 11:45 PM, ,

Hardwood Floor

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These days carpeting, tile, laminate, granite, ceramic, vinyl or hardwood flooring installation is very much in and people always want to have good quality home flooring. A friend of mine wants a floor of his dreams which is within his reach.

Sears will help you to choose the perfect floors and keep your job on track. Licensed Sears flooring contractors will install Hardwood Floor, granite, tile, ceramic, vinyl, or hardwood flooring or carpeting quickly and safely. They can also help with any tile remodeling or tile renovation projects you have. As one of the most trusted floor installation companies out there, you can relax knowing that your floor installation will be done right the first time. And they will cover everything with manufacturers' warranties.

You may choose from a variety of flooring options, from hardwood flooring to environmentally friendly carpet manufactured from recycled plastic bottles and everything in between, including many carpet materials, colors, and patterns and a wide range of selection of Mohawk carpets are treated with Scotchgard Advance Repel technology, the market leader in soil and stain protection.

posted @ 10:51 AM, ,

General Manager Finance - Nagina Group

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NAGINA Group having presence in spinning, weaving, power generation and trading is looking for a dynamic chartered accountant with atleast 7 years of post qualification of experience. The candidates having experience in Textile industry would have an added advantage: The job profile is given below:

Job title            :           General Manager Finance.
Location of job :           Lahore based
Salary                :         To be negotiated on the basis of the experience and skill.
Fringe benefits  :  As per company policy such as company maintained car, health insurance etc.
Maximum age limit: The maximum age of the person should not be more than 50 years as on March 31, 2011.

Job description: It’s a senior management post with variety of responsibilities. However major responsibilities would include:

  • Group financing under working capital and long term loans. For this purpose the successful applicant would be required to have close relationships with the senior officials of banks and possess effective verbal and written communication skills.
  • Treasury management of the group which includes forward dollar sales, foreign currency financing arrangements, investment of surplus funds of the group and derivative transactions etc.
  •  Corporate secretarial work of the three listed companies. The successful applicant should be well versed with secp and stock exchange regulations.
  • Supervising the internal audit function of the group.
  • Supervising the IT function of the group, make improvements in the existing softwares and manage new developments.
  • Supervising the export documentations and monitoring the logistics function for exports and imports.
  • Implementing budgets, cost control efforts and bench marking performance standards.
  • Supervising the taxation and legal matters of the group.
The persons who are confident to fulfill the above criteria are encouraged to apply electronically in confidence latest by March 18, 2011 at the following e mail address:

posted @ 3:51 PM, ,

Country's Wind Energy Potential Stands at 350,000 MW

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Country can generate over 350,000 MW electricity through wind against the total demand of about 21,000 MW in peak summer, urging the need for solid steps to explore the potential. Pakistan has numerous resources to get energy and around 57,000 MW electricity could be generated only from Gharo-Keti Bandar corridor where average wind speed is more than seven meter per second throughout a year.

They said the corridor has potential which is twice of India and other sites in Balochistan, Punjab, and Northern Area which are being identified for power generation. The sources said Pakistan is among the world's highest and fastest rising urbanisation and electricity is available to only 57 percent of the population while natural gas to 21 percent.

Only 45 percent of rural population have access to grid electricity and there is extreme shortage of electricity and gas leading to load shedding. Economic growth is also suffering due to gas and power load shedding, leading to closures of industries.

Total installed and dependable capacity of the country's power sector is 20,231 MW. 11,735 MW could get from public sector while 8,496 MW from private sector. "By switching to alternative energy means, we can reduce dependence on imported oil, running into billions of dollars and undermining economic development".

It is pertinent to mention that USA has wind power installed capacity of 25,170 MW, Japan 1,880 MW, India 9,645 MW, Greece 985 MW, Egypt 365 MW, Iran 85 while Pakistan has only 6 MW so far. The government has set up AEDB in 2003 for implementing policies programs and projects through private sector in the field of alternative energy.

posted @ 10:33 PM, ,

Estate Planning Attorney

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The Butler Firm is a central Texas law firm focusing on probate and estate planning law. They have extensive experience in Travis and Williamson Counties. The Butler Firm, PLLC, a native Texas law office, is a boutique law firm with two offices in Austin and Round Rock. Their small group of dedicated probate lawyers and attorneys help those who have lost a loved one navigate the Texas probate system with ease and minimal financial strain. Additionally, their Austin and Round Rock probate lawyers assist their clients by drafting Wills and providing estate planning assistance.

To have a estate planning attorney Austin or Round Rock call and talk to you directly just fill out the simple questionnaire below. If you would like to know more about the probate process in Texas feel free to access their database of information prepared by their Probate lawyers by selecting the appropriate link located next to the questionnaire.

posted @ 10:19 PM, ,

Money Market, Forex and General Upadtes - 07-03-2011

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Money Market Updates:

Money Market opened at 13.00 and was quite crunched in terms of liquidity today. Highest dealing went on 13.60 percent. Meanwhile State Bank conducted an open market operation in which it injected Rs. 10.95 billion at 12.91 percent. The total bidding was for Rs. 21.65 billion. Due to this OMO market came down to 12.30 and again rose to 13.30 and then closed at 13.50.

General Updates

  • Besides injecting about Rs175 billion into the energy sector, the government is finalizing a plan for `at-source deductions and book adjustments` to melt down a chronic circular debt that has created a liquidity crisis for over a dozen companies and blocked dividend earnings for the national exchequer.

  • Pakistan, which is the second largest recipient of the British aid after Ethiopia with an annual assistance of £200 million, could see it scale up to £446 million a year by 2015. But this enhancement in assistance, focusing on key areas of education, health, financial inclusion, democracy and governance, is conditional and Islamabad will have to prove its commitment to reforming itself. 

  • Ending a four-month freeze, the government on Monday increased by 9.9 per cent the prices of all petroleum products in a bid to pass on the partial impact of the steep rise of international oil prices. The political explosion that this hike may cause remains to be seen. This is the single biggest surge in oil prices in 32 months since July 2008 and is expected to generate about Rs5-6 billion revenue for the government, depending on the fluctuation in the international market which has been caused by the political turmoil in oil-producing countries of the Middle East and North Africa.
Forex Updates:

Interbank Dollar Market opened at 85.40/45 and keeping at a low dealing pace went on a high of 85.40 and a low of 85.35. Interbank Dollar Market closed at 85.38/40

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posted @ 10:36 AM, ,

Wood Weave Blinds

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Discover why so many people have relied on Blinds Supermarket to update the look of their home. With the lowest prices available on the internet, a whole host of exciting made to measure, cheap roller blinds can be delivered to your home within 5 days.

Their extensive range of cheap Woodweave blinds has become increasingly popular among Blinds Supermarket customers, made from 100% natural materials. The organic nature of this product gives each blind a unique appearance, offering a natural touch to both contemporary and traditional homes. With a range of six different styles to choose from, including bamboo and jute, each with its own distinctive look, these blinds look good in any room, but are particularly suited to dining rooms and conservatories.

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posted @ 10:32 AM, ,

Local Search Marketing

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You know your customers are searching for you. But how? Are they on Google or Facebook? Where do they live? What keywords do they punch in when they want you? What about when they need you? You could look into each of these channels, spending hours ensuring your ads, listings and profiles are accurate and effective. Or you could look into Deluxe, for affordable ways to get the most of your online presence, Local search marketing and effective ways to get found.

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posted @ 10:25 AM, ,

SBP Allows NRSP Microfinance Bank to Commence Nation-wide Operation

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The State Bank of Pakistan has allowed NRSP Microfinance Bank to commence business as a nation-wide microfinance bank. Earlier, the SBP had issued a license to the Bank. NRSP Microfinance Bank now becomes the 6th microfinance bank to operate on nationwide basis whereas two microfinance banks are operating at district level. Initially, it will operate with a network of 38 branches in 13 districts of the country.

It may be added here that the licensing of NRSP MFB was the result of gradual transformation of National Rural Support Program (NRSP) into microfinance bank. However, initially, the NRSP operations in 13 districts are being transformed into NRSP MF Bank. At present, the NRSP is the largest player in the microfinance sector with a market share of almost 22%. The commencement of business of NRSP MFB will result in a significant increase in the market share of regulated microfinance banks (MFBs) within the overall microfinance sector. This will also lead to the increased provision of inclusive financial services in the rural areas of the country.

Other microfinance banks operating in the country are: 
  • Tameer Microfinance Bank Ltd., 
  • Khushhali Bank Ltd., 
  • Pak Oman Microfinance Bank Ltd., 
  • The First Microfinance Bank Ltd., 
  • Rozgar Microfinance Bank Ltd., 
  • Kashf Microfinance Bank Ltd. and 
  • Network Microfinance Bank Ltd.

posted @ 11:05 AM, ,

Guitar Lessons

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From Aerosmith to ZZ Top, they offer guitar lessons for all, providing simple and easy to follow methods. Whether you are playing the acoustic or electric guitar, their video guitar lessons will help you to learn to play your favorite tunes simply by downloading your chosen videos. Their guitar lessons offer music enthusiasts step-by-step instructions on guitar playing techniques using a range of popular songs, for people of all levels including beginners.

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posted @ 11:01 AM, ,

Bad Breath Cure

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Anyone who has ever had a problem with bad breath knows that it is the worst feeling in the world. Bad breath takes away your ability to be out going and as aggressive with your life as you would like to be. Instead of meeting new people, and trying for new opportunities at work, you restrain yourself and hide yourself away because of the embarrassment you feel from your halitosis. As a matter of fact, most surveys show that what people find to be the number one most unappealing attribute in the opposite sex, is halitosis. What these people do not realize, is that bad breath is not just an irritating ailment, it can also be a sign of some potentially dangerous chemical combinations in your body that present themselves with a potent and horrific order.

If the smelly breath problem is not yours and you do not need of bad breath cure , but you have a loved one that needs some help in the area, this website can help you too. You will be able to find ways to help them without confronting them about their problem. Perhaps it is simply a matter of changing their diet, or the oral hygiene products they use. No one has to live their entire life in hiding due to embarrassment over their halitosis.

posted @ 12:08 PM, ,

Light Within

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