News & Events
Swiss Business Council elects office-bearers
Nov 18, 2015
Pakistan receives $119.3 million in FDI, higher by 7.5%
Sep 16, 2015
tribune.com.pk/story/957532/pakistan-receives-119-3-million-in-fdi-higher-by-7-5/KARACHI: Pakistan received foreign direct investment (FDI) of $119.3 million in the first two months of 2015-16, which is 7.5% higher than the FDI received in the same period of the preceding fiscal year.
According to data released by the State Bank of Pakistan (SBP) on Tuesday, FDI increased $8.3 million year-on-year (YoY) in July-August, as it amounted to almost $111 million in the corresponding months of 2014-15.
Pakistan has faced low levels of foreign investment in recent years. In a statement last week, the SBP had called an increase in FDI “imperative” for the sustainability of the economy’s external sector. “Recent improvements in the law and order situation and continued macroeconomic stability are likely to increase the prospects for long-term foreign capital inflows,” the SBP said.
Largest contributor to the FDI in Jul-Aug was China ($131.5 million), followed by the United Arab Emirates ($30.2 million) and Switzerland ($23.1 million).
Net FDI in August alone clocked up at $44.3 million, down 43.8% from the net inflow of $78.8 million recorded in the same month of the preceding fiscal year.
The largest net outflow of FDI in July-August was recorded in the petro chemicals ($124.8 million) followed by metal products ($9 million).
Contributors to FDI
The largest increase in FDI in July-August was in the category of power, which attracted $111.1 million. Other sectors that attracted substantial FDI in the first two months of 2015-16 were transport ($20 million) and oil and gas exploration ($19.3 million). However, the FDI in the oil and gas exploration category dropped 48.8% on a YoY basis.
Pakistan received FDI of $709.3 million in 2014-15, which was 58.2% less than the FDI received in the preceding fiscal year. Largest contributor to the FDI during 2014-15 was the United States ($238.7 million), followed by China ($229.5 million) and United Arab Emirates ($222.4 million).
However, the United States has pulled out $96.7 million from Pakistan so far in 2015-16 although net inflows from the world’s largest economy amounted to $45.2 million in the same two-month period of the last fiscal year.
Many foreign investors have left Pakistan for good in recent years because of the energy crisis and governance issues.
For example, Johnson and Johnson, a multinational pharmaceutical company, wound up its operations from Pakistan last year and sold its operations to a Pakistani pharmaceutical company for reportedly $30 million. At least four multinational pharmaceutical companies have left Pakistan for good in the last six years.
The category of pharmaceutical and over-the-counter products lost FDI of $47.2 million in the last fiscal year. The largest net outflow of FDI in 2014-15 was recorded in the cement category ($219.5 million), which was followed by metal products ($55.2 million).
However, FDI from China is expected to rise further in view of the recently announced China Pakistan Economic Corridor (CPEC), according to the SBP. “The implementation of infrastructure development and energy projects under the CPEC will further enhance the improving investment environment,” it said.
Swiss National Day was a grand event
Aug 11, 2015
IMPRESSIVE—a small word— but if read together with “joyous and grand” it does assumes special meaning. Yes sir, that was it. The 724th National Day of the Swiss Confederation, as week-end celebration, was a special evening, not only for the Swiss Consul General Emil Wyss or his lovely wife Arie, but also for those present to share its joy with their tremendously hospitable hosts.
These are not empty words. They do carry a lot of weight, but its importance could only be gauged properly, if you were there to understand its dimensions. It assumed that significance in terms, real and genuine, because not only Emil or his Indonesian wife, but the entire staff of the consulate, including commercial secretary Jordan Din, CG’s secretary Sophia, and Kimberley, all spent hours together, three days and three nights, to make it such a success.
The Swiss are themselves very hospitable people, love to entertain their guests, try and make them happy as far as possible. Those lucky to be in Switzerland, and there must be quite a large number of them in Pakistan, know that well.
In this particular case, however, the event was celebrated by a diplomat, who possesses unique characteristics of being a humane and naturalist at the same time. Emil loves nature, as well as adventure. He visits orphanages, blood donation centres in congested areas, where others fear to be there for security or comfort reasons. The couple also loves to have handicapped cricketers and poor children at their office-cum-residence premises. This is something rare and we are lucky to have such a person in our midst who possesses multidimensional qualities.
A special stage was set for a group of young and ordinary people to sing the national anthems of Switzerland and Pakistan. A young girl, hardly 10 or 11,, waived paper flags of the two countries as their national anthems were sung live before a galaxy of guests.
The consul general made brief remarks, avoided long speech and what really was a great attraction for those invited to the ceremony, was few young children, attired in their folk dresses, something, which many European States, Holland, Belgium, Germany, France, like Switzerland, are proud of. That is their heritage and speaks volumes of their centuries-old history and culture. We in Pakistan, India, Bangla Desh, Thailand, Malaysia, Indonesia, China and Japan, as Asians,too like to proudly present it before the world. Heritage is history, and history needs to be jealously guarded.
Among the guests were consul generals of USA, China, Indonesia, Thailand, the acting consul general of UK, Turkey Brian Heath, Ma You, Hadi Santoso, Gill Atkinson (the deputy high commissioner John Trucknott is on home leave now), Onart, and quite a large number of business, and intellectual elite. French and Russian consul generals Francoise and Oleg Avdeev are too on home leaves. Their representatives were their too.
The passage to Marquee at the local hotel, was lined with Swiss slogans, and commercial pan flexes of Swiss firms, engaged in building Pakistan economy. But all this was brain child of Emil who takes pride in projecting his country to Pakistanis, and projecting Pakistan to Swiss confederation. Well done Emil. You, and Arie need to be congratulated for hosting a memorableand delightful evening.
Source : pakobserver.net/detailnews.asp
Energy Conservation in Pakistan
Jul 25, 2015
Pakistan, Switzerland enjoying strong bilateral relationship
Jul 02, 2015
KARACHI: “Pakistan and Switzerland enjoying strong cordial and friendly bilateral relationship and these ties are strengthening with the passage of time. In bilateral tourism new opportunities beneficial for both countries are yet to be explored. Many Swiss companies are successfully operating in Pakistan which showed excellent economic and commercial cooperation between two countries. Pakistan is a dynamic country of prudent and talented people. The country having a diversified economy has a great potential for progress and prosperity.”
This was stated by Emil Wyss, Consul General of Switzerland in a meeting held with delegation of TAAP at Swiss Consulate General at Karachi. Emil Wyss, Consul General of Switzerland while exchanging views with delegation of TAAP led by its Chairman Hanif Rinch appreciated the role of Travel Agents’ Association of Pakistan in promotion of aviation, travel and tourism activities in Pakistan and abroad.
He articulated that to cherish cordial bilateral relations between Pakistan and Switzerland which were established in 1949, the Swiss Consulate General in collaboration with Pak-Swiss Business Council has organised Pakistan-Switzerland Friendship Exhibition at Jinnah International Airport Karachi from May 29 for 100 days.
Pak-Swiss Friendship Exhibition aims at to celebrate the long, friendly bilateral relations between two countries, to promote positive image of Pakistan and to attract more foreign investment to the country.
He also sought TAAP’s cooperation to promote the exhibition and its objectives. He further assured TAAP his highest consideration and cooperation to explore travel and tourism opportunities between two countries.
Earlier, TAAP’s delegation headed by its Chairman Hanif Rinch accompanied by Yahya Polani, Chairman FPCCI Aviation Committee and former chairman TAAP, Nadeem Sharif, Chairman FPCCI Hajj and Umrah Committee and former chairman TAAP, Amin Wali Muhammad, Senior Vice Chairman FPCCI Foreign Affairs Committee, Syed Javaid Hassan, Senior Vice Chairman FPCCI Travel and Tourism Committee, Khadim Rasool, Secretary General TAAP visited Swiss Consulate on the invitation of Consul General to discuss the matters of mutual interest. Sharing views at this juncture, Chairman TAAP Hanif Rinch highlighted that immense opportunities of bilateral travel and tourism do exist which can easily be explored with exchange of delegation of stakeholders of tourism in both countries. Commercial and economic cooperation between two countries is outstanding, however, travel and tourism sector requires deserving attention from both sides.
Swiss products/brands, well known for their quality and performance, are popular in Pakistan. TAAP delegates lauded the Swiss Consul General for his optimistic views about Pakistan and its citizens. TAAP renewed the Swiss Consul General its assurances to support and promote Pakistan Switzerland Friendship Exhibition and its collaboration for such events in future.
They said that TAAP is steadfast to portray real and soft image of Pakistan in the eyes of countries worldwide and enterprising to explore new bilateral travel and tourism opportunities between Pakistan and friendly countries. TAAP is willing to join hands with its Swiss counterpart to explore tourism opportunities, business matchmaking, and exchange business/commercial information and delegations. TAAP and business community of Pakistan have high regards for Switzerland and are looking forward to have more strong, vibrant bilateral economic and commercial relationship.—PR
Source : epaper.brecorder.com/2015/07/02/7-page/673361-news.html