A delegation comprising personnel of Austria-based companies led by Mr. Johannies Brunner, Commercial Counsellor of Advantage Austria visited NESPAK House, Lahore, and held a meeting with Dr. Tahir Masood, Managing Director, and senior NESPAK officials.
Other Austrian delegates included Mag. Dr. Michael Premstaller from Premstaller Geotechnik, Mr. Florian Krail, Key Account Manager for Large Scale Projects of Doka, and Mr. Usman Mohiuddin, Consultant from Advantage Austria. Premstaller and Doca deal in building-related large-scale projects while Advantage Austria is the trade promotion organization of the Austrian Federal Economic Chamber.
At the meeting, Dr. Tahir Masood briefed them about NESPAK, its services, and operations in Pakistan and overseas. A joint collaboration between NESPAK and Austrian concerns on future business opportunities in Pakistan and overseas also came under discussion. MD NESPAK told the visitors that NESPAK is busy increasing its outreach to the European market as well as various other countries in Africa and the Middle East. He stated that NESPAK can act as a Resource Centre for Australian companies in Pakistan and elsewhere. On this occasion, a documentary highlighting NESPAK’s expertise in various sectors was played and a fruitful discussion was held between NESPAK professionals and Austrian delegates.
Later, in the afternoon, Mr. M. Murat Ozen, Business Development Engineer along with Mr. Yakup Kahveci, Transportation and Traffic Engineer of the EPTISA Turkiye office, paid a visit to NESPAK House, Lahore. EPTISA is a multinational company based in Spain with more than 60 years of experience in engineering, consulting, information technology, economic growth, and social development as well as operating in 55 countries. Mr. Ozen was welcomed by Dr. Tahir Masood, MD NESPAK along with senior professionals of NESPAK. Potential collaboration and partnership possibilities between NESPAK and EPTISA on future projects in Africa, the Middle East, and Central Asian states came under discussion during the meeting. n

The Amir S. Chinoy Foundation (ASCF) is associated with the Amir S. Chinoy Group which comprises 3 publicly listed companies; International Steels Limited (ISL), International Industries Limited (IIL), and Pakistan Cables Limited.
International Steels Limited’s partner Cargillhas also pledged to support Dawn Relief along with ASCF.
Together ASCF and Cargill have committed to rebuilding over 90 homes in villages devastated by the floods, starting with Bajara Sindh.
“With the devastation caused by the floods and winter approaching, it has now become critical to provide permanent shelter to communities as we transition from emergency relief to resettlement,” said Samir M. Chinoy, Chairman, ASCF. “ASCF and Cargill are proud to support Dawn Relief’s rehabilitation efforts, considering the organization’s credible record in disaster management.”
In the immediate aftermath of the devastating floods, the ASC Foundation contributed toward immediate flood relief efforts through various other non-profits. The funds helped provide food, comfort kits, and other relief supplies to families and individuals impacted by the floods in Sindh.
The Amir S. Chinoy Group’s history began when its founder Amir S. Chinoy, a visionary entrepreneur, laid the foundation for International Industries Limited (IIL) in 1948, Pak Chemicals Ltd in 1951, and Pakistan Cables Ltd “PCL” in 1953.
In addition to the group, a new enterprise, International Steels Limited (ISL) joined the fold in 2007. The ASC Group has retained its pioneering spirit and is continuously evolving by offering world-class products and services, foreign collaborations, and commitment to customer service.

The federal government has released the entire Public Sector Development Program (PSDP) allocation of Rs87 billion for Sustainable Development Goals (SDGs) to the parliamentarians during the first four months of the current fiscal 2022-23.
Out of the total PSDP allocation of Rs 727b during the first four months (July- October), Rs 241.262b has been disbursed.
The expenditure against the releases stands at Rs 98.782b (13pc) of the total allocation, the count of releases says.
As per the strategy designed for the development budget, the Ministry of Planning and Special Initiatives (P$SI) will release 20pc of funds for the development budget in the first quarter, 25pc in the second, 30pc in the third quarter, and 20pc in the fourth quarter.
PSDP 2022-23 book says the allocation for Sustainable Development Goals (SDGs) was Rs68b, which was later enhanced to Rs 87b. The SDGs allocation was enhanced so that all of the Pakistan Democratic Movement (PDM) 174 members in National Assembly should get Rs 500 million for development projects. The amount will be used for the execution of small projects related to sewage lines, streets maintenance, gas, water, and electricity projects under SDGs.
Some of the Ministries/Divisions have utilized less than 1pc of the allocations during the first four months of the ongoing fiscal year.
Climate Change Division has utilized Rs 34.70 million or 0.4pc of the allocated amount of Rs 9.5b in the PSDP 2022-23. The Planning Commission has released Rs1.9b during the first four months. Similarly, Finance Division has utilized Rs 14.59 million or 0.84pc of the allocated amount of Rs 1.66b. The Planning Commission has released/disbursed Rs286.46 million to Finance Division.
National Health Services, Regulations & Coordination Division has incurred an expenditure of Rs 161.47 million.
The Board of Investment has incurred an expenditure of Rs18.94 million (2.34pc) out of the allocations of Rs 807.50 million. The total released/disbursed amount to BOI is Rs 494.97 million. Even the Provincial and Special areas have utilized Rs 12.708b which is 9.12pc of the total allocation of Rs 140.635b. Higher Education Commission utilized Rs 2.532b which is 5.83pc of the allocation of Rs 44.718b.
The utilization of the National Heritage & Culture Division was Rs 3.44 million which is 1.74pc of the allocation of Rs 200 million. Railways Division utilization is Rs 3.224b which is 9.87pc of the allocation of Rs32.648b.
The Water Resource Division has incurred an expenditure of Rs 18.809b which is 19.27pc of the allocation of Rs 97.559b. The total disbursement amount to Water Resource Division is Rs21.405b.
The expenditure incurred by Science &Technological Research Division is Rs 431.47 million which is just 7.54pc of the allocation of Rs 5.716b.
Planning, Development & Special Initiatives Division has utilized Rs 721.03 million which is just 5pc of the allocated amount of Rs 14.282b.
Interior Division has incurred an expenditure of Rs 400.04 million which is 4.94pc of the allocation of Rs 8.093b. The total released disbursed amount to Interior Division is Rs 1.611b. The expenditure of the Aviation Division is just Rs 360.48 million which is 14.5pc of the allocation of Rs 2484.87 million. — ERMD

During his visit of Turkey last month, Prime Minister Shehbaz Sharif attended the Pakistan-Turkey Business Council organised by the Foreign Economic Relations Board (DEIK).
The prime minister invited the Turkish investors to explore Pakistan’s diverse sectors.
“Pakistan’s energy sector with its vast potential in hydel, thermal, coal, wind, and solar areas can prove ideal for the Turkish investors,” Shehbaz told the leading businessmen and investors from Turkey and Pakistan.
“Given the growing energy needs and high global energy prices, Pakistan direly needs improvement in its energy sector. Pakistan could benefit from Turkey’s expertise in building and managing dams for water conservation,” he added.
Pakistan premier assured the attendees he would do everything in his power to achieve the trade target.
“Let us break these barriers, let us remove all hurdles to promote our investment and our trade between the two countries. Whatever [needs] to be done, let’s do it and do it speedily. Time and tide wait for none,” PM Sharif said.
“Let’s resolve today a figure of 5 billion dollars’ trade, two-way. In next three years, if we could take our bilateral trade to 5 billion dollars [annually], I will be a satisfied Pakistani and I will be the happiest person to achieve this target. I guarantee from our side that whatever is needed to achieve this target, I will be there doing everything in my capacity.”
Before leaving for Turkey, Sharif told a Turkish state-run news agency the quantum of bilateral trade between Pakistan and Turkey did not reflect the strength of their relations, pointing out the two countries needed to explore more opportunities for economic collaboration.
“The current level of bilateral trade is still not a true reflection of the excellent state of our relationship. This is also an area where immense opportunities exist for both countries,” Sharif told Anadolu Agency.
“With a population of over 220 million, Pakistan offers its investors a strong and large consumer market with an ever-expanding middle class. Pakistan holds numerous investment opportunities with lucrative returns for investors.”
“A number of leading Turkish investors have already made investments in Pakistan,” Shehbaz said, emphasising that the Turkish investment in Pakistan would be a win-win situation for both the countries.
Giving an overview of the economic and investment opportunities in Pakistan, the prime minister highlighted his focus on energy, housing, textiles, infrastructure development, agro-based industry, and oil and gas sectors.
He also emphasised that Turkish textile companies could explore the sector for joint ventures, especially for intra-industry trade as well as becoming partners in regional and global value chains. He also invited the Turkish firms relating to the agro-industrial and dairy sectors.
At the onset, DEIK President Nail Olpak and Chair of Turkish-Pakistan Business Council Ahmet Cengiz Ozdemir introduced the participating companies and briefed the prime minister about Turkish investments in Pakistan.
Shehbaz also held a separate meetings with Turkish investors. He said that unfortunately, a conspiracy was hatched to discourage the investment in Pakistan. However, he added that his government’s priority was to facilitate all the investors by addressing their issues.
The delegation expressed keen interest in the projects in the energy and the construction sectors. A Turkish firm, Siyahkalem, headed by Cengiz Ozdemir, expressed confidence in the measures taken by his government to encourage foreign investment in Pakistan.
The delegations included Arcelic Chief Commercial Officer Can Dincer, Chief Executive Officer of Zorlu Energy, Albayrak President Ahmed Albayrak and Hayat Kimya Vice President Ali Zaybuk. They conveyed their interest in enhancing the volume of investment in Pakistan.
Earlier, the prime minister visited the mausoleum of Mustafa Kemal Ataturk, the founder of modern Turkey, and laid a wreath there. The prime minister observed a minute of silence to pay respect to the great Turkish leader.
On his arrival, Pakistan’s Prime Minister had expressed his resolve to take bilateral trade between the two countries to $5 billion annually. — ERMD