Community hall key issue for Pakistanis


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DUBAI // A stalled project for a Dh6.3million community hall will be a key issue for many voters in this Friday's election for the emirate's Pakistani association.

The cause has become the focus of bitter arguments between two factions within the Pakistan Association of Dubai (PAD).

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Both the incumbent Pakistan Friends Panel (PFP) and the Pakistan People's Panel (PPP) agree the hall is important. They differ, however, on how much of a priority it should be.

Dr Zia ul Hassan, the PFP candidate for president, says: "I think it is a crucial issue, and the sooner we can complete it the better for everyone associated with the Pakistani community.

"It's going to be an important asset for the community and will be something that will encourage younger members to engage with the association."

His rival, the PPP candidate Mohammed Rashid Chughtai, meanwhile, believes the association should focus more on helping poorer Pakistanis. "I do intend to complete the hall, but I think we shouldn't do it at the expense of supporting the less fortunate members of society," he says.

Both men are seeking to succeed Riaz Farooq Sahi, who is stepping down after serving a second two-year term as president - the maximum allowed.

Mr Chughtai, 50, a businessman who has lived in Dubai for 31 years, says he wants to work with the Pakistani consulate to speed up the delivery of passports.

He wants to develop a medical clinic for those unable to afford care, and provide legal advice and assistance on employment issues.

To staff the clinic, he says he would encourage doctors to work voluntarily. He aims to have one lawyer and an administrative staff member man the legal desk.

Mr ul Hassan, a doctor at the North West Clinic in Umm Suqeim, also wants to develop a medical centre. "We will look into whether it is better to have the medical centre at the PAD centre or look for another location," he says. "The centre would be open to people from other communities as well."

Mr ul Hassan is also keen to push a more positive image of the Pakistani community in the UAE and to work more closely with the Pakistan embassy and consulate.

Both men say they want to ease the difficulties faced by bereaved relatives in repatriating bodies to Pakistan, by offering help with the paperwork.

In all, 16 candidates have put their names forward for the 12 posts, four of which are being contested: president, vice president, general secretary and community welfare officer.

The incumbent welfare officer, Rizwan Fancy, 43, is seeking re-election as a PFP candidate.

"Helping other people is my passion," he says, "and although we have done a lot over the last few years there is still much to do."

He says he will continue policies that provide education and health funding for individuals and families. "Over the past two years we have spent Dh550,000 on providing for education alone and I intend to continue that."

He also wants to give more support to Pakistanis imprisoned over bounced cheques.

His opponent is Mohammed Nasir, 56, who runs used car and construction businesses in Ajman.

"My aim is to help poor people as much as possible," he says. "I want to open a pharmacy in the PAD centre, which can offer cheap medicine to those less fortunate than us.

"I also plan to open a similar hospital in Pakistan to help people there as well."

If he wins, he says he will work in an open spirit with everyone on the committee.

More than 2,000 members of the association are eligible to vote in the secret ballot, which takes place at the PAD centre in Bur Dubai.

Voting runs from 8am to 8pm with the results being announced the same evening.

The winners will take their oaths on July 17.

Members

President: Dr Zia ul Hassan (Pakistan Friends Panel); Muhammad Rashid Chugtai (Pakistan People’s Panel)

Vice president: Syed Zahid Ali Shah (PFP); Muhammad Shakeel (PPP)

General secretary: Dr Faisal Ikram (PFP) Dr Arif Ali (PPP)

Community welfare officer: Rizwan Fancy (PFP); Muhammad Nasir (PPP)

Uncontested posts: Joint secretary: Tariq ur Rehman (PFP) Treasurer: Usama Saeed (PFP) Social and legal affairs secretary: Naseer Hussain (PFP);

Public relations secretary: Abdul Waheed (PFP) Religious affairs secretary: Imtiaz Ahmed (PFP);Culture secretary: Syed Tahir Hussain (PFP);Sports secretary: Sajjad Ali (PFP); Education and personal development secretary: Samina Nasir. (PFP)

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Favourite travel destination: Maldives and south of France

Favourite pastime: Family and friends, meditation, discovering new cuisines

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Favourite Author: My father for sure

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Employees: Nine

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Company%20Profile
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Launch year: 2016

Number of employees: 130

Sector: online laundry service

Funding: $12.9m from Kuwait-based Faith Capital Holding

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Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

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