Latest news with #Association
The Hindu
2 hours ago
- General
- The Hindu
Residents of IOB Colony in Coimbatore want bridge work expedited
Residents of the Shree Daksha Vriddhha Association at IOB Colony (ward 38) in Coimbatore city have appealed to the Corporation Commissioner to expedite construction of a bridge across a wild stream in their area. The bridge was washed away during the rain in November 2023. The Association members contributed ₹25 lakh as their share for reconstruction of the bridge under the Namakku Naame scheme. The work has been halted for more than 45 days now for reasons unknown, they said in a petition to the Commissioner. The bridge was the only connection for the residents living at Shree Daksha Vriddhha to cross the stream. For more than a year now, they are using a temporary passage that they have created nearby. The official from the Coimbatore Corporation denied any delay in the project, stating that the concrete structure requires a standard curing period of 21 days. According to the official, 75% of the work has been completed and the total project cost is ₹97 lakh. The structure measures 8.5 metres in both length and width. The work is expected to be completed by the end of August this year.
Business Recorder
10 hours ago
- Business
- Business Recorder
PSMA urges Pakistan govt to deregulate sugar industry
LAHORE: The Pakistan Sugar Mills Association (PSMA) has urged the government to completely deregulate the industry. In a statement, a spokesman for the PSMA said the Association made this request during a general body meeting held today. It requested the federal government to consider deregulating the sugar sector, as has already been done by the provinces in the case of sugarcane. It said the sugar industry is the second largest agro-based industry in Pakistan after textiles. During the crushing season, it generates direct and indirect business activity worth Rs. 1,000 billion in agriculture, transport, allied industries, wholesale, and retail markets. It pays approximately Rs. 225 billion in direct and indirect taxes to federal, provincial, and local governments, and provides $4 billion worth of import substitution to the national economy. Pakistan-IMF talks on tax-free sugar import underway The industry utilizes indigenous energy by using bagasse, through which an allied steel industry has also been established. The generated power is exported to the national grid as well. With conducive policy interventions, an industrial chain using by-products of sugarcane could emerge, as has happened in many other countries. The use of ethanol in vehicles as fuel—similar to Brazil and India—could strengthen our national energy mix, which is heavily dependent on imported petroleum products. The Ethanol Blending Policy, formulated in Pakistan in 2009 and later discontinued, needs to be revived. The current potential of bio-ethanol is sufficient to replace 7% of the country's total gasoline consumption. Two very important agro-based sectors— rice and maize— are already deregulated, with rice exports alone fetching nearly $5 billion. There are no restrictions on the import and export of rice and maize in Pakistan. Both sectors operate on free-market principles and are functioning efficiently. Rice and maize growers receive international prices, which has encouraged investment in research and development, resulting in improved yields. In contrast, scant efforts have been made in Pakistan to develop new sugarcane varieties for improving yield and sucrose recovery. The government should adopt a permanent policy for the deregulation of the sugar sector so that it can continue contributing to the national economy through import substitution, increased business activity, employment generation, tax revenue, and substantial foreign exchange earnings from regular exports of surplus sugar. The sugar industry has advocated for deregulation in several meetings with the government, including the most recent Sugar Advisory Board meeting held on July 17, 2025. The formation of a committee by the federal government on the deregulation of the sugar sector is a welcome step, and it is hoped that—like other agricultural sectors—the sugar industry will be given the opportunity to realize its full potential for national development. Copyright Business Recorder, 2025
Business Recorder
10 hours ago
- Business
- Business Recorder
Jubilee Spinning & Weaving Mills says soon to receive NOC from NBP to change company name
Jubilee Spinning & Weaving Mills Limited announced on Monday that it was in the process of soon receiving No Objection Certificate (NOC) from the National Bank of Pakistan (NBP) in order to change the name of the company. The company shared the development to the Pakistan Stock Exchange today. It said that getting the NOC was the only remaining requirement for the approval of Form-26 related to change of company name. 'As soon as we receive the NOC from NBP, we will submit the same to the SECP and then apply for Certified True Copy of Memorandum of Association to the SECP.' Further progress report will be submitted to you within 15th day of every quarter ended as per requirement of the listing regulations of the Exchange, read the notice to the bourse. Jubilee Spinning & Weaving Mills Limited was incorporated in Pakistan as a public limited company on 12 December 1973 under the Companies Act, 1913 (Now the Companies Act, 2017). The principal objective of the company is to engage in the business of manufacturing and selling of yarn, buying, selling and otherwise dealing in yarn and raw cotton.
Business Recorder
15 hours ago
- Business
- Business Recorder
PSMA urges govt to deregulate sugar industry
LAHORE: The Pakistan Sugar Mills Association (PSMA) has urged the government to completely deregulate the industry. In a statement, a spokesman for the PSMA said the Association made this request during a general body meeting held today. It requested the federal government to consider deregulating the sugar sector, as has already been done by the provinces in the case of sugarcane. It said the sugar industry is the second largest agro-based industry in Pakistan after textiles. During the crushing season, it generates direct and indirect business activity worth Rs. 1,000 billion in agriculture, transport, allied industries, wholesale, and retail markets. It pays approximately Rs. 225 billion in direct and indirect taxes to federal, provincial, and local governments, and provides $4 billion worth of import substitution to the national economy. Pakistan-IMF talks on tax-free sugar import underway The industry utilizes indigenous energy by using bagasse, through which an allied steel industry has also been established. The generated power is exported to the national grid as well. With conducive policy interventions, an industrial chain using by-products of sugarcane could emerge, as has happened in many other countries. The use of ethanol in vehicles as fuel—similar to Brazil and India—could strengthen our national energy mix, which is heavily dependent on imported petroleum products. The Ethanol Blending Policy, formulated in Pakistan in 2009 and later discontinued, needs to be revived. The current potential of bio-ethanol is sufficient to replace 7% of the country's total gasoline consumption. Two very important agro-based sectors— rice and maize— are already deregulated, with rice exports alone fetching nearly $5 billion. There are no restrictions on the import and export of rice and maize in Pakistan. Both sectors operate on free-market principles and are functioning efficiently. Rice and maize growers receive international prices, which has encouraged investment in research and development, resulting in improved yields. In contrast, scant efforts have been made in Pakistan to develop new sugarcane varieties for improving yield and sucrose recovery. The government should adopt a permanent policy for the deregulation of the sugar sector so that it can continue contributing to the national economy through import substitution, increased business activity, employment generation, tax revenue, and substantial foreign exchange earnings from regular exports of surplus sugar. The sugar industry has advocated for deregulation in several meetings with the government, including the most recent Sugar Advisory Board meeting held on July 17, 2025. The formation of a committee by the federal government on the deregulation of the sugar sector is a welcome step, and it is hoped that—like other agricultural sectors—the sugar industry will be given the opportunity to realize its full potential for national development. Copyright Business Recorder, 2025
Mid East Info
3 days ago
- Business
- Mid East Info
Emirates Franchise Strengthens Japan Ties Through Expo 2025 Osaka Mission - Middle East Business News and Information
Mission promotes global expansion of Emirati brands and strengthens international franchise partnerships. Abu Dhabi:July 2025 – The Emirates Franchise, an affiliate of the Abu Dhabi Chamber of Commerce and Industry, led a high-level trade mission to Japan from June 18 to 23, 2025, coinciding with Expo 2025 Osaka in Japan. The mission aimed to highlight the advanced UAE model in the franchising sector, reflecting the development of the business environment in the UAE and its regional leadership in this field. The delegation was headed by Her Excellency Noor Al Tamimi, Chairman Emirates Franchise – Board Member of the Abu Dhabi Chamber and included senior representatives from across the UAE's business ecosystem. Among them were Dr. Ahmed Al Shemili, Acting General Manager of the Ras Al Khaimah Chamber of Commerce and Industry, Ms. Hamda Al Suwaidi, Technical Director of the Association, and Ms. Ahood Salah Almenhali, Events Coordinator. During visits to Tokyo and Osaka, the delegation met with the Japanese Franchise (JFA) engaged with economic institutions and companies interested in entering the UAE market. Discussions focused on fostering collaboration, showcasing the UAE's growing franchising opportunities, and outlining the Association's strategic plans to attract global brands and supporting the international expansion of local franchises. H.E. Noor Al Tamimi affirmed that this mission marks a key milestone in strengthening the global presence of Emirati franchising and reinforcing the UAE's position as a hub for innovative business models. 'She pointed out that the participation is a part of the Association's efforts to empower national brands, open new channels for international cooperation, and facilitate the exchange of knowledge and best practices in line with the UAE's goals for international expansion. She added, 'Our engagements with public and private stakeholders in Japan emphasised the Association's role as a key enabler of franchise sector growth. These efforts contribute to building meaningful partnerships that transcend borders and highlight the UAE's appeal as a destination for high-value international brands.' On the sidelines of the visit, H.E. Al Tamimi explored with Mr. Yoshiteru Obinata, Executive Director of JFA, collaboration opportunities and knowledge exchange between the two sides. The discussion covered JFA's structure, which includes over 470 franchisors and 1,286 brands, and its role in advancing the sector through education, training, and sector development. The UAE delegation outlined its strategy to strengthen the global footprint of Emirati franchises and deepen cooperation with global partners. At the UAE Pavilion at Expo 2025 Osaka, an introductory tour was held for both UAE and Japanese delegations, highlighting national achievements in innovation across sectors such as space, healthcare, and sustainability. The Emirates Franchise delegation, along with representatives from the Japan Franchise (JFA), toured the UAE pavilion at Expo 2025 Osaka, highlighting the UAE's efforts in innovation, with a focus on the space, healthcare, and sustainability sectors. During the visit, H.E. Al Tamimi presented the Association's vision to empower local brands and attract leading international franchises, enhancing the UAE's presence on the international franchise map. H.E. Dr. Al Shemili commended the Association for its leadership in organising the mission, while Ms. Sheikha Al Ketbi, Deputy Commissioner-General of the UAE Pavilion, praised the delegation's proactive engagement with Japanese and global stakeholders. The tour included visits to pavilions of other participating countries, where global experiences were explored and knowledge was exchanged on best practices in the franchising sector and sustainable development, reinforcing the Association's international visibility and ongoing efforts to promote Emirati brands on the global stage. The delegation also met with numerous Japanese companies interested in entering the UAE market. Mr. Sho Hideteki, from Japan External Trade Organization (JETRO), expressed full support for facilitating market entry through collaboration with the Association and the Abu Dhabi Chamber. As part of the programme, the delegation participated in the 'Prosperous Franchising: From the UAE to Osaka and Beyond' session held at the UAE Pavilion, attended by JETRO officials and Japanese business representatives. The session highlighted the UAE's supportive business environment and franchising opportunities, creating pathways for future partnerships within the Japanese market and beyond. The delegation's visit resulted in tangible outcomes including strengthened cooperation with Japanese franchising institutions, the activation of a partnership agreement between the Abu Dhabi Chamber and JETRO, and the establishment of direct communication channels to facilitate the entry of Japanese companies into the UAE market.
