FFC announces half yearly results for 2018

Fauji Fertilizer Company Limited (FFC) has announced half yearly results for the year 2018.

The company earned Rs 43.27 billion as sales revenue more than 43% higher than last year owing to higher offtake. FFC’s net profit recorded an improvement of around 24% to Rs 4.72 billion translating in an earnings per share of Rs 3.71 for the half year ended June 30th, 2018. The Board of Directors has also announced second interim dividend of Rs 1.40 per share with an aggregate distribution of Rs 3.15 per share for the first six months of 2018.

StormFiber’s Triple Play Services Now Available in Hyderabad.

StormFiber strikes twice in a week, launching its services in Hyderabad after Multan, bringing its tally of cities to six. The announcement was made at an event hosted in the city, making its Triple Play (Internet, TV and Phone) services available in Hyderabad. StormFiber is already an established market leader in four major Pakistani cities, Karachi, Lahore, Faisalabad and Peshawar. Launching their Fiber To The Home (FTTH) services in Hyderabad after Multan represents a key milestone in Storm Fiber’s strategic expansion throughout Pakistan. In the first phase of its foray into Hyderabad, StormFiber will coverQasimabad, Latifabad, Defence, Civil Lines, Muslim society, GOR colony with plans to expand in other major areas of the city.  The second largest city of Sindh, Hyderabad is a historical city home to a suite of businesses and a burgeoning middle class, representing a rich demand for reliable internet thatonly a gigabit network such as StormFiber can deliver. 

Ultra-fast and stable broadband service is an important catalyst for economic development in the modern era. To further these national interests, StormFiber aims to deliver consistent internet services on FTTH infrastructure, along with HD television and crystal-clear voice services. Access to one of Pakistan’s most robust fiber optic networks will help put Hyderabad on the map at par with global metropolitan cities.

Chief Guest Prof. Dr. Tauha Hussain Ali, Pro-Vice Chancellor, Mehran University of Engineering & Technology, Jamshoro pointed out that: “In terms of the future, an optical fiber based fixed-line broadband is an opportunity since it offers hundreds of megabits per second of data speeds and will ultimately allow StormFiber to offer smart home solutions besides also creating value for small merchants.”

Speaking at the event, Mr. Fawad Yousuf Laher, Managing Director, StormFiber said: “StormFiber has created a reliable platform for high speed internet services which will delight its users and empower them for swift multi-tasking and high-performance in their professional and social endeavors. The idea is to create an enabling environment for the citizens of our country, ultimately contributing to the economic development of our nation”

Industry insiders claim that StormFiber’s FTTH services have been well-received during its soft launch in the city. The company seems focused on its ambitious plan to bring fiber broadband and triple play service to large sections of Pakistan’s population including difficult to reach areas of the country that possess the ability to develop unencumbered in the digital space. The company has deployed its fiber technology backbones throughout the country and has plans to provide high-speed services in the following additional cities including Islamabad, Rawalpindi, Gujranwala, Sargodha, Sialkot, and Quetta among others.

ACCA wins bid to develop public sector finance professionals in Pakistan

Global professional body ‘honoured’ to be part of a critical programme to develop

public financial management in Pakistan

ACCA (the Association of Chartered Certified Accountants) is delighted to announce it’s been awarded a high-level project to develop a Professional Accreditation Programme in Public Financial Management (PFM) for Pakistan, working with the World Bank and the Auditor General’s office.

To formalise and prepare for the project ACCA signed MoUs with the partner authorities - the provincial governments of Khyber Pakhtunkhwa, Balochistan, Federally Administered Tribal Areas (FATA) and the Auditor General’s office. This capacity building project is funded by the Multi Donor Trust Fund (MDTF) managed by the World Bank.

ACCA was selected for this project due to its expertise in capacity building work, with a proven track record of strengthening the accountancy profession globally. This extensive experience includes collaborating with Professional Accountancy Organisations (PAOs) and development agencies, employers, governments, regulators and other global partners to help build a stronger accountancy profession – with a focus on developing tailored local solutions that meet global standards and benchmarks.

Stephen Heathcote, executive director – markets at ACCA says: ‘Given the pace of change and size of expenditure in the public sector in Pakistan, it’s critical that professionals working in the sector are equipped with the right skills to deal with the challenges ahead. And our qualifications are designed to do just that – to build the accountancy skills and knowledge of those working in the public sector, so that there’s effective management and stewardship of public funds. ACCA’s twenty-year history, local infrastructure and on-going commitment to students, members, government and community in Pakistan makes us uniquely positioned to support this important national initiative.’

               

Arif Mirza, head of policy MESA, adds: ‘In Pakistan, recent changes mean that federal and provincial governments have responsibility for significantly increased resources. Because of this, a step change is needed in the skills in the public sector for public financial management. Effective budgeting and improving transparency is a must, especially as the government’s Vision 2025 aims to improve economic and social indicators of the country by significantly increasing government’s development budget over the next decade. We’re honoured to be part of this critical development in the professionalisation of public financial management in Pakistan.’

ACCA currently has the largest public sector footprint globally of all the accountancy bodies with approximately 64,000 ACCA members and students working in the public sector around the world.

Intermediate students- how does ACCA help you tick off items on your career bucket list?

It’s true that many of us have written a bucket list of things we want to achieve in our lives, from jumping out of an aeroplane to seeing the Seven Wonders of the World to writing a novel.

But a career bucket list?

This is a great way to get down on paper your core ambitions, the big-ticket goals you have for your career. And each goal you achieve will improve your CV too.

So, while this isn’t a definitive list - yours could be very different - here are some ideas to help you think about YOUR career bucket list and how the ACCA qualification can help you achieve what you aspire for:

Work in another country

Working overseas can be deeply rewarding on both a professional and personal level. And fortunately for ACCA students and members, the world is your oyster, because the qualification is globally recognised!

Learn a language

If you work in a different country, you may well end up learning a new language as part of your job. Learning a language not only opens doors to richer cultural experiences, but new opportunities in other countries too. Learning Mandarin, for example, is highly valued given the size and gradual openness of the Chinese market. With the CPEC developments here in Pakistan, this could give you a serious edge in terms of employment.

Be an entrepreneur

This is becoming a very popular and rewarding career path. With all the potential for new technology to disrupt every sector and every part of daily life, if you have an idea and some business acumen you can quickly become a successful entrepreneur.The financial knowledge and skills you pick up in your accountancy study can be a great springboard for starting your own business.

Master a new skill

Studying ACCA is mastering a new set of skills – technical and professional. But being an accountant means you never truly stop learning. Given the levels of responsibility that accountants handle, including the financial stewardship of companies, you’re obligated to maintain a high level of continuous professional development (CPD). And more than this, you should also seek to learn complementary skills that can help your career progress down interesting avenues, for example, project management, data analysis, forensic accounting, business partnering.

Or this could mean a completely ‘new skill’, a passion project away from work, like furniture design, horse-riding, knitting, diving… it’s your life, you decide.

A good work-life balance

This may not seem like a ‘bucket list’ candidate, but considering how difficult some people find striking the right balance, it’s worthy of something to aspire too. After all, a good balance often means being more productive, working better, while also maintaining an all-important full family and social life.

Make your parents and family proud

Become an ACCA member, be happy in your work, achieve even a few goals on this list and there’s no doubt your family will be proud.

An inspirational leader

This is not an easy one, but it is so valuable. ACCA’s news module Strategic Business Leader is designed to progressively broaden and deepen the knowledge, skills and professional values demonstrated by the student on their way through the qualification.You will likely progress in your career to managing teams of various sizes and if you can maintain a happy, productive team, then you’ll be inspiring and teaching the next generation of professionals just by doing your job.

So what are you waiting for – it is time to begin your ACCA journey!

PepsiCo 2017 Sustainability Report shows significant progress

PepsiCo International released its 2017 Sustainability Report. The report outlines the progress the company has made towards its sustainability philosophy called ‘Performance with Purpose’. Performance with Purpose is PepsiCo’s vision to deliver top-tier financial performance by improving the products the company sells, operating responsibly to protect the planet and empowering people around the world.

PepsiCo has taken steps, globally, to embed these goals in their business and has made significant progress towards achieving them. Most notably, in 2017, 27.5% of the company’s net revenue came from their Everyday Nutrition portfolio. Approximately 16 million people were provided access to safe water since 2006 and 6.4 million women and girls benefited in communities around the world near where the company works.

In Pakistan, PepsiCo considers sustainability to be at the heart of its operations. PepsiCo Pakistan’s agriculture and operations teams helped conserve over 1 billion liters of water in 2017 through sustainable farming practices. This number is expected to double by the end of 2018. Similarly, wastewater and air emissions have consistently met stringent standards. The use of alternative energy will expand from the current capacity of 40 KW to 370 KW by the end of 2018.

On the human development front, PepsiCo became the first multinational in Pakistan to sign the Women Empowerment Principles. At their snacks manufacturing facility, PepsiCo has increased front line female talent workforce by three fold. The company has also continued their mission of empowering young girls, by mentoring hundreds of female students at Care Foundation-adopted schools.

FFC wins “Eminence of the Year Award-2018” by RCCI

Fauji Fertilizer Company Limited (FFCL) has been conferred “Eminence of the Year” Award by Rawalpindi Chamber of Commerce & Industry (RCCI) in recognition of company’s contributions in terms investment and payment of taxes among other factors. The award was presented to Company Secretary FFC, Brig Ashfaq Ahmed, SI(M) (Retd) 31’st RCCI International Achievement Awards-2018 held at Baku, Azerbaijan.

Brig Ashfaq Ahmed, SI(M) (Retd) expressed his immense pride in the company and its achievements, and said: “FFC has had a legacy of performing at its best and has won numerous accolades for transparency and corporate governance etc. Year 2018 marks 6th consecutive year for FFC to receive an award by RCCI which are testament to the company’s exemplary services and performance in all areas of its activities”.

It is time for intermediate students to think ahead: five reasons to choose ACCA

1) Recognised worldwide – international travel – global network

ACCA has 200,000 members and 486,000 students in 181 countries around the world, and once you sign up to study, you instantly become part of this ever-growing network. That means you will be part of a network of over 600,000 people around the world.

So if you do wish to travel you will be able to do so with ease. Accountancy is one of those professions where positions all around the world are freely available; so many people take the opportunity to visit and work in new countries.

2) Highly regarded by 8,500 employers globally

ACCA’s qualifications are developed with employers that teach international accounting standards. This means that employers all over the world have confidence that ACCA members and students understand the rules and laws of corporate finance in their country.

It’s a seal of approval and it’s essential to have a qualification as an accountant to sign off on reports. Furthermore, having a professional qualification is essential for employers to benchmark each candidate: it shows passion and drive but also gives a good account of technical ability and experience.

3) Career progression

Ideally anyone who wishes to have a career in finance and achieve senior management positions should have a formal qualification in accounting and finance say employers who recruit candidates for their finance function.

The ACCA Qualification is highly regarded by employers. While it’s not impossible to be in a senior management position without one, there is more and more emphasis being placed on qualifications and quite simply more choice available to qualified accountants, than non-qualified. The qualification is assurance for the employer of your technical knowledge, so coupled with your experience they can determine your suitability for a role.

In developed countries with mature financial and corporate systems, possessing a professional accountancy qualification is standard to be able to compete, say recruitment managers of big four accountancy firms.

4) Flexible study - anywhere, anytime, in your own time

Studying ACCA is flexible. You can organise how and when you study to suit any situation. If you want to complete it as quickly as possible, you can attend an Approved Learning Provider as a full-time student.

5) Practical experience

It’s not all about exams and studying. To become an ACCA member you need to have completed three years of practical experience. While this may sound intimidating, this is key to ensuring that you’re the complete package before becoming an ACCA member and enjoying all the career benefits this brings. A workplace mentor will guide you through the requirements and support your progress.