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VOLUME 06
SBP CUTS INTEREST RATES TO 8PC AS CORONAVIRUS FALLOUT HITS ECONOMY
GWADARTHE FUTURE ECONOMIC HUB
TOLL FREE: 0 8000 8000 | www.rafigroup.com
PM IMRAN KHAN ANNOUNCES INCENTIVES FOR CONSTRUCTION SECTOR, ELEVATES IT TO INDUSTRY
WORK ON GWADAR AIRPORT STARTS
IN A FIRST, SHIP WITH FERTILISER FOR AFGHANISTAN BERTHS AT GWADAR PORT
LAND ALLOCATION IN PROCESS FOR $10B SAUDI ARAMCO REFINERY IN GWADAR
CHINESE VOW TO MAKE GWADAR MORE VALUABLE THAN KARACHI
EDITOR’S NOTE“When you come to the end of your rope, tie a knot and hang on” - Franklin D. Roosevelt
Harsh times are inevitable in the life of individuals, communities, businesses, and nations alike yet they don’t inscribe their destiny. What carves their fortune is how they gather, compose, and poise themselves to struggle against all odds and carve their future. The World has been hit by a Pandemic of monstrous proportions. Mankind unites to fight against this Once-in-a-Century Pathogen. Pakistan is no exception. From the first test that came positive in Pakistan on 26th February 2020, the National leadership has been assessing the situation and making decisions based on available data. The situation though not ideal, yet it is quite apparent that virulence, as well as the mortality in Pakistan, is not as horrific as the West. This has been attributed to various reasons such as; Type of strain of COVID 19 is less dangerous; BCG vaccination in Pakistan may be reducing the impact; immunity of people of Pakistan is better due to consistent exposure to Malaria, Typhoid and other pathogens and last but not the least; the hot sunny weather might be reducing the threat. I believe it is a combination of all of these factors and Allah’s blessing. Nevertheless, as the Government decides to move to Smart Lockdown it is time for us responsible citizens to exercise restraint, stay indoors as much as possible unless necessary, wear masks, and observe social distancing. I believe that with the appropriate safety measures we can resume businesses and restore livelihood to the underprivileged daily and low wagers as not even the most advanced nations of the world can observe an absolute lockdown for an indefinite period.
There is always a silver lining. Like the World, Pakistan is also readjusting to the new challenges. Online trade & e-commerce is on the rise. It is being estimated that online buyers are expected to reach a record 5 Billion by 2024 which will be almost 60% of the population which outlines tremendous access and opportunities for countries like Pakistan. Many small businesses in Pakistan have quickly transformed into making medical equipment such as suits and masks to meet the rising demand. Similarly, a realization by businesses that most work can be done remotely is making them more cost-effective and less taxing for the employees. Schools and Universities all around the World are now shifting to distant learning. China-Pakistan Economic Corridor (CPEC) has the potential to revamp the education system in Pakistan by promoting distance and e-learning in the Country. An MOU has already been signed for establishing Smart Schools in Pakistan. CPEC is already in the Second Phase largely focused on the social sector and human development especially education.
Raees Abbas ZaidiSecretary Jinnah Rafi FoundationSecretary to the Government (R)
The exemplary Pak- China friendship stands unwavered in these torrid times. China has been donating testing kits and other medical supplies to Pakistan. A team of medical experts from China also arrived in Pakistan on 24th April 2020. Pakistan requested an extension of a debt repayment period on $30 billion in loans for the China-Pakistan Economic Corridor. China is likely to agree which will save Pakistan around $500 million in annual cash flow. Even in the midst of the outbreak Chinese engineers continue to work on CPEC projects and have not laid off Pakistani workers. Currently, CPEC hosts nearly 7000 Chinese and 40,000 Pakistani employees. Over 40,000 Pakistani families are directly supported by the CPEC projects. China has to date also donated 125,400 COVID-19 Real-time PCR Kits, 2.8 million surgical masks, 0.42million N95 masks, 1.2 million medical gloves, 0.21 million medical protection suits, and 217 ventilators to Pakistan, and also provided $4 million to the Pakistani Government for building an emergency hospital.
Rafi Group considers itself one of the main support industries in Gwadar and continues its fast-paced development of the Green Palms Housing Project; an oasis in the desert. In spite of the challenging conditions. We conducted a successfull Ballot of Green Palms Housing Projet Gwadar fulfilling yet another promise and meeting one of our deadlines. Under the resolute leadership of Chairman Mr. Imtiaz Rafi Butt and the energetic Mr. Shehriar Imtiaz Rafi (CEO) and the innovative Mr. Shazil Imtiaz Rafi (MD), Rafi Group continues work on the project while taking all the precautionary measures and safeguarding the health and wellbeing of all their employees.
I wholeheartedly thank Mr. Imtiaz Rafi for his unflinching support and the dedicated team of Rafi Group.
I am sure this informative issue will meet the expectations of our readers. I am grateful for your support and valuable feedback.
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RAFI GROUPMANAGEMENT
Imtiaz Rafi Butt(Chairman)
Shehriar Imtiaz Rafi(Chief Executive Officer)
Pakistan is and always will be an investment hub. As the next Phase of CPEC kicks off both Pakistan and China aim to fast track the development of 10 Special Economic Zones (SEZs) which makes Pakistan an economic market with great potential. According to State Bank data, Pakistan attracted $ 2.148 (Billion) Foreign Direct Investment in the first nine months of this financial year which is 136% higher than last year, China being the largest investor and giving Pakistan tremendous technological and financial advantage.
Green Palms Housing Project Gwadar has been the prime focus of the Rafi Group. These challenging times have strengthened our resolve and we continue to meet our given timeline. A successful ballot was one such landmark and despite the current pandemic, we were able to deliver on our promise. We have always believed that business is not just about making profits but gaining respect and trust of customers is more vital. These values make us the most respectable construction, engineering, and project management company of Pakistan. Our projects aim towards long term progress and economic prosperity of Pakistan. This
My grandfather Mr. Muhammad Rafi Butt was a central figure in the independence movement and the creation of Pakistan. Since 1978, Rafi Group has advanced the legacy of my grandfather and worked tirelessly to contribute to the economy of Pakistan. As first movers in Gwadar, Rafi Group launched the Green Palms Housing Project and paved the way for sustainable growth not only for our customers but also for the City of Gwadar. With our credibility, expertise and global reach we have bridged Gwadar and our investors. Our team of
Shazil Imtiaz Rafi(Managing Director)
My message would be incomplete without reassuring our readers, customers, and fellow businessmen that such pandemics have happened before and this will pass. This reiterates the fact that we are all equal and false borders of caste, creed, sect, or religion doesn’t matter. What matters is that we all take care of ourselves and the ones around us. We shall get through this stronger and more resilient. Stay safe and stay blessed.
pandemic has inspired us to become even more responsible entrepreneurs as we have put in place very strong safety and wellbeing parameters for our employees. We believe that by protecting them we protect ourselves and the entire community. We have very high aims for our project just like the expectations of our customers and we promise to meet them by making our project a comfortable and safe place for our customers.
innovators and problem solvers has worked to create a safe investment opportunity that has provided a chance for everyone to own a stake in a prospering city such as Gwadar. We have pledged to make Gwadar easily accessible and safe for our customers and are committed to delivering the project in time.
IN A FIRST, SHIP WITH FERTILISER FOR AFGHANISTAN BERTHS AT GWADAR PORTA ship carrying 16,400 tonnes of DAP fertiliser for Afghanistan anchored at the Gwadar Port. The Chairman of Gwadar Port Authority, Naseer Ahmed Kashani, said that with the arrival of the urea-loaded ship, the Gwadar Port had been opened for Afghan Transit Trade.`Another ship loaded with 16,000 tonnes of urea and 500,000 tonnes of sugar and wheat would reach the port next month,` Mr Kashani told that urea consignment would be sent to Afghanistan by road. He added that opening of the port would also help the transport sector to flourish in the area and would provide jobs to the local people.SOURCE: https://epaper.dawn.com/DetailImage.php?StoryImage=30_05_2020_003_004
PUBLISHED MAY 30, 2020
WORK ON GWADAR AIRPORT STARTS: ASIM BAJWASpecial Assistant to Prime Minister for Information and Broadcasting Lt-Gen (Retd) Asim Saleem Bajwa has said that all pending issues of Gwadar International Airport have been resolved and the physical work on the project has started. Asim Bajwa, who is also The Chairman of CPEC Authority, said in a tweet the containers of machinery that were stalled at the Gwadar Port were also cleared while labour working on the project had also been mobilized.SOURCE: https://www.brecorder.com/2020/05/08/595437/work-on-gwadar-airport-starts-asim-bajwa/
PUBLISHED MAY 8, 2020
NO COMPROMISE ON CPEC AS IT IS COUNTRY’S FUTURE: ASIM BAJWACPEC Authority Chairman and Special Assistant to Prime Minister on Information and Broadcasting Lt-Gen (Retd) Asim Saleem Bajwa has said that the China-Pakistan Economic Corridor (CPEC) is a non-political international project and work for its completion is in progress on a fast pace. He said Pakistan takes decisions in its interest and there should be no doubt that the CPEC Project “is in the best interest of the country”, adding that “no external pressure will be accepted”. SOURCE: https://tribune.com.pk/story/2215762/1-no-compromise-cpec-countrys-future-bajwa/
PUBLISHED MAY 07, 2020
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CPEC PROJECTS TO MEET DEADLINES DESPITE COVID-19 PANDEMICBEIJING-Pakistan Ambassador to China, Naghmana Alamgir Hashmi has said that all the projects being completed under the China Pakistan Economic Corridor (CPEC) framework would meet their deadlines as all the preventives and control measures had been put in place against the spread of Covid-19.
She informed that the first Phase of CPEC was almost near to completion as 90 percent of projects were already commissioned and the remaining were only months away from the finishing point.SOURCE: https://nation.com.pk/06-Apr-2020/cpec-projects-to-meet-deadlines-despite-covid-19-pandemic
PUBLISHED APR 6, 2020
PM IMRAN KHAN ANNOUNCES INCENTIVES FOR CONSTRUCTION SECTOR, ELEVATES IT TO INDUSTRY
Prime Minister Imran Khan elevated the status of the Construction Sector to that of an industry while announcing incentives for investors and businessmen as the Government tries to mitigate the economic impact of the coronavirus outbreak. He added that a board will also be formed to address all issues and matters related to the industry. He said that the reason he was paying attention to the Construction Sector was that it generated jobs for daily wage workers, many of whom have lost their income due to the ongoing lockdown.SOURCE: https://www.dawn.com/news/1546154
PUBLISHED APR 03, 2020,
SBP CUTS INTEREST RATES TO 8PC AS CORONAVIRUS FALLOUT HITS ECONOMYThe State Bank of Pakistan (SBP) cut its benchmark interest rate by 100 basis points to eight percent, the fourth time it has cut rates since the coronavirus pandemic hit two months ago. The bank has cut rates by a total of 525 basis points since the beginning of the health crisis two months ago and has announced a package of measures to support poor workers hit by the pandemic as well as offering risk sharing with private banks on concessional lending to boost liquidity.SOURCE: https://www.dawn.com/news/1557318
PUBLISHED APR 16, 2020
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PUBLISHED FEB 29, 2020
BAN ON NEW CONSTRUCTIONS LIFTED IN GWADAR AFTER FOUR YEARSThe Director-General of the Gwadar Development Authority (GDA) lifted the ban that was imposed during the previous Government era. In 2016, the GDA had imposed the ban initially for six months because it was in the process of revision of the Gwadar Master Plan as “Smart Port City” to meet the needs of a modern port city. CM Aliyani chaired a high-level meeting to review the affairs of the GDA. The meeting also reviewed the by-laws of GDA and decided that NOCs for construction would be issued after approval of the by-laws.
SOURCE: https://www.dawn.com/news/1537312/ban-on-new-constructions-lifted-in-gwadar-after-four-years
PUBLISHED FEB 18, 2020
LAND ALLOCATION IN PROCESS FOR $10B SAUDI ARAMCO REFINERY IN GWADARGwadar Development Authority (GDA) Director-General Shahzeb Khan Kakar has said that upcoming Oil City Project in Gwadar will host a multibillion-dollar Saudi Aramco Refinery, Arab News reported.
He hoped that the process of land allocation for the $10 Billion Saudi Oil Refinery Project and a $1 Billion Petrochemical Complex would be completed within a couple of months.
SOURCE: https://profit.pakistantoday.com.pk/2020/02/18/land-allocation-in-process-for-10b-saudi-aramco-refinery-in-gwadar/
PUBLISHED OCT 9, 2019
CHINESE VOW TO MAKE GWADAR MORE VALUABLE THAN KARACHIThe Chinese operators of Gwadar Port and its Free Zone have vowed to make the coastal city the single largest contributor to Pakistan’s national economic output in seven years, saying 47,000 jobs will be created for locals with new investments worth billions of dollars.SOURCE: https://tribune.com.pk/story/2075421/2-chinese-vow-make-gwadar-valuable-karachi/
GRAND BALLOTM
ASTER PLAN 23RD M
ARCH, 2020
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ON-SITE DEVELOPMENT
RATION DISTRIBUTION IN LAHORE & GWADAR
Rafi Group, under the umbrella of Jinnah Rafi Foundation, did a Ration Drive in Lahore and Gwadar to help the people in need during these testing times.
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www.rafigroup.com/online-payment/ SCAN THE CODE
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GREEN PALMS HOUSING PROJECT DC
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