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August 02 - 08, 1999

Kirthar National Park, Dumbar E.L. Second Committee Meeting

The second meeting of the Committee constituted vide Government of Sindh, Service and General Administration Department's Notification No: SO(C-IV)S&GAD/7-122/99 dated 10th June 1999 was held in the New Sindh Secretariat Building Karachi, recently, to address issues surrounding hydrocarbon exploration and production in the Kirthar National Park, Dumbar E.L.

The Chief Secretary Sindh, Mr. Salik Nazir Ahmed chaired the Committee meeting. It included Secretary to Government of Sindh, Law Department; Secretary and Conservator Sindh Wildlife, Government of Sindh; Director General, Petroleum Concessions Government of Pakistan, Ministry of Petroleum and Natural Resources Islamabad; and General Manager, Premier Exploration Pakistan Limited (PEPL). IUCN and WWF representatives were also invited. WWF attended the meeting.

At this high level meeting of stakeholders in the Dumbar Exploration License, the Committee recognized the economic importance of this project for the country and stressed the need to solve the future energy needs of Pakistan. The aim of the meeting was to develop a consensus on how exploration activities will proceed whilst maintaining the integrity of the Kirthar National Park and eventually improving wildlife, environmental, socioeconomic and physical conditions in the park.

As a first step, the Government of Pakistan will appoint an independent environmental consultant through an open bidding process to conduct an Environmental Impact Assessment (EIA) for the completion of a baseline study on the ecological, environmental, socioeconomic and cultural resources of the Kirthar National Park. The study will also evaluate how exploration and production activities could effectively take place through the development of an Environmental Management Plan (EMP) with the participation of all stakeholders to ensure the protection of wildlife and the bio-diversity of the park. The Terms of Reference (TOR) of the EIA have been designed with input from NGOs following international oil industry standards.

Petroleum activities have been permitted in many protected areas of the world after the completion and approval of an EIA by competent authorities of the concerned governments and have consistently led the processes allowing such activities.

ABN AMRO Bank Customers Will Soon Be Able To Pay PTCL Phone Bills Over The Phone.

ABN AMRO Bank N.V. and Pakistan Telecommunication Corporation (PTCL) signed an agreement in Islamabad recently to facilitate their respective customers for the payment of telephone bills.

The agreement was signed by Mr. Adnan Ghani, Consumer Banking Head, ABN AMRO Bank N.V. and Mr. Arshad Mahmud, Member Finance, Pakistan Telecommunication Limited (PTCL).

Customers of ABN AMRO Bank N.V. will now have the added privilege of paying their monthly PTCL telephone bills conveniently on the telephone. The customers can not only pay their own bills but will also be able to pay phone bills of their families and friends living in Karachi, Lahore and Islamabad/Rawalpindi, respectively.

"The purpose of this agreement is to put our customers first and build long-term relationships with them; to provide total convenience, product innovation and service superiority that our customers have come to expect from us," said Mr. Adnan Ghani, Consumer Banking Head of ABN AMRO Bank N.V.

In Pakistan since 1948, ABN AMRO Bank N.V. has shown strong growth in recent years establishing itself not just as a corporate bank but a customer-focused, dynamic consumer bank. It is the only foreign bank to have made long term commitments in Pakistan which are reflected in the construction and ownership of its bank-premises in Karachi and Lahore; and the expansion of its network to five branches in Pakistan. Additionally it has also set up the largest Software House in the country.

Caption

ABN AMRO Bank N.V. and Pakistan Telecommunication Corporation (PTCL) signed an agreement in Islamabad recently to facilitate their respective customers for the payment of telephone bills. The agreement was signed by Mr. Adnan Ghani (Right) Consumer Banking Head, ABN AMRO Bank N.V. and Mr. Arshad Mahmud (3rd from L), Member Finance, Pakistan Telecommunication Limited (PTCL). Also in the picture are: Mr. Shah Hasan (2nd from L) General Manager Finance, PTCL; Mr. Khalid Mahmood (L) Deputy General Manager Revenue, PTCL; (Standing from L to R): Mr. Masood Ahmed, Automation Head, ABN AMRO Islamabad; Salman Malik, ABN AMRO Islamabad Branch Manager; Salman Naqvi, Consumer Bank Head, Islamabad and Bashir Ahmed, Preferred Banking Manager, ABN AMRO Islamabad.

A Management Understanding & Skills Training Workshop was conducted at Pearl Continental Hotel Karachi on July 3, 1999. The theme of this workshop was "Business Profitability through Human Resource Productivity," which has been developed and organized by Quality Learning Methodologies (QLM) in collaboration with the SITE Association.

PlA's General Manager Management Training, Mr. Mirza Dilawar Beg, as facilitator, expounded on the modern concepts of management with real case examples from the West and particularly those introduced by some of the forward-looking organizations from the local industry. The discussion on the Performance Appraisal System introduced by National Foods Ltd and the flexible time concept ("Flexitime") as practised by Cressoft (Pvt.) Ltd particularly proved to be the high point of the discussion. In the post-lunch period the participants, working in groups, deliberated on the strategies that could be applied in the local environment for better results and higher profitability of businesses.

The workshop was concluded with a brief presentation by Mr. Mohammad Naseem Khan, Secretary SITE Association who emphasized on the need for enhancing the overall productivity of the local industry. Mr. Naseem Khan highlighted the efforts being made by SITE Association in this direction under the able guidance and leadership of Mr. Majyd Aziz. He was very pleased that QLM is making a serious endeavour in the much-needed area of productivity improvement of the Pakistani workforce in order to meet the highly competitive and technological challenges of the new millennium. He hoped that such workshops will be a regular feature and extended all support to QLM from the SITE Association .

Director Marketing, QLM, Mr. Faraz Basir Khan while thanking Mr. Naseem Khan urged the industrialists and the business community in general to focus on the training needs of their workforce so that we are able to contribute to the national cause of improved economy. The programme was concluded with Mr. Faraz Khan presenting a souvenir to the Chief Guest.

Caption

Left: Marketing Director (QLM) Mr. Faraz B. Khan presenting souvenir to Mr. Mohd. Naseem Khan (Secretary Site Association)

Captin

Dr. Asif Hafeez Shaikh, Acting Chairman / Managing Director presiding over a meeting of the Board of Directors of the Bank of Punjab which approved, accounts of the Bank for the first half of 1999.

NET asset values of ICP Mutual Funds as on 19.07.1999

Name of N.A.V. Market

Fund As on As on

19.07.1999 19.07.1999

(Rss. per Share) (Rss. per Share)

01 ST

ICP

11.52

07.90

02 ND

ICP

10.77

07.50

03 RD

ICP

14.50

10.00

04 TH

ICP

31.01

19.50

05 TH

ICP

09.82

09.00

06 TH

ICP

21.49

11.95

07 TH

ICP

11.21

08.75

08 TH

ICP

25.09

16.10

09 TH

ICP

32.62

22.50

10 TH

ICP

17.06

09.50

11 TH

ICP

13.65

09.00

12 TH

ICP

14.12

11.00

13 TH

ICP

29.99

12.00

14 TH

ICP

12.04

05.50

15 TH

ICP

09.22

09.25

16 TH

ICP

08.88

09.90

17 TH

ICP

09.85

11.20

18 TH

ICP

07.69

O8.15

19 TH

ICP

13.90

10.10

20 TH

ICP

14.84

06.75

21 ST

ICP

04.02

02.00

22 ND

ICP

06.59

02.15

23 RD

ICP

03.09

01.05

24 TH

ICP

03.69

01.25

25 TH

ICP

06.91

02.25

SEMF-A 25.80 11.80

Habib Bank Limited

Massive increase in Habib Bank's first six-months profits

Substantial increase in profits, deposits and advances was reported by the Habib bank Limited (HBL) in the first half of 1999, over the same period last year. Continued growth in all areas has further strengthened HBL positioning of "Power to lead" the banking sector of the country.

A press release of the HBL said that an all round improvement in the bank's performance was made through untiring efforts of the employees and innovative leadership provided by the professional management. The pre-tax profits of the bank have shot up by 143 per cent to Rs. 815 million in the first half of 1999, from Rs. 335 million in the same period in 1998. This geometrical rise in profit was made possible by managing investments and advances prudently and cutting the cost.

It may be recalled here that HBL posted Rs. 1.2 billion pre-tax profits in 1998, as compared with Rs. 3.4 billion loss in 1997. Last year the bank turn around completely following structural changes and reforms introduced by the management and the new vigour infused in the employees by the new leadership. This year's half-yearly accounts show that the bank has managed to consolidate the gains made in 1998.

Habib Bank has become a market leader in terms of developing new products and has created history by launching deposit mobilising schemes like Crorepati Deposit Certificate and other financial instruments like Muhafiz (Rupee travellers cheque). These innovative products coupled with improved efficiency have resulted in the growth in bank deposits by 12.6 per cent to Rs. 253 billion from Rs. 225.3 billion in the same period in 1998. Another positive feature here is that overseas deposits have also grown in the same proportion as the domestic deposits.

HBL's advances have also grown immensely in the first half of 1999 from Rs. 170 billion in the same period in 1998 to Rs. 192 billion — showing an increase of 13.1 per cent. This has been a result of proactive business solicitation employed by the bank. The bank institutionalised a modern and systematic approach for credit policy making, issuance of advances and pursuance of loans etc., on the same lines of Credit Initial Process as used by international banks.

Habib Bank's import business during the period Jan-June 1999 was Rs. 41 billion. This is an increase of 32 per cent over the figure of import business during Jan-June 1998. Similarly the export business of the bank, which amounted to Rs. 31 billion during Jan-June, 1998, has increased by more than 15 per cent in the first half of 1999, to reach Rs. 36 billion. Total exchange business during the first six months of 1999, recorded an overall increase of 24 per cent. Such an increase in exchange business of the largest bank of Pakistan has tremendously benefited the country's economy in more ways than one.

The bank holds a significant 19.2 per cent share of the total deposits in the banking sector in Pakistan, while its share in terms of total advances in the country stands at more than 19 per cent. This makes HBL a linchpin of the country's financial sector and gives it the strength to be the engine for Pakistan's economy growth.

After the recent turn around of the bank, HBL has fully lived up to its claim of transforming a sleeping elephant into a roaring lion. Because of proactive measures in terms of deposit mobilisation, advances, human resource management, staff training and motivation, infrastructure improvement and innovative and progressive marketing. HBL has truly become a leader in the banking industry in Pakistan.

Leo Burnett Opens Affiliate Office in Sri Lanka

Leo Burnett announced that it has established an affiliate office in Sri Lanka, based in the capital city of Colombo, called Leo Burnett Solutions lnc.

The expansion into Sri Lanka is in keeping with Burntts's global diversification strategy and increased commitment to the South Asian market. The agency now has 26 offices in 18 markets throughout Asia/Pacific.

Steve Gatfield, Regional Managing Director of Leo Burnett's Asia/Pacific, said, "The affiliation with Solution completes the development of Leo Burnett's South Asian network. We have enjoyed terrific growth in South Asia over the past 2 years. Our association with the talented Solution teem, led by Ranil-de Silva in Colombo, will ensure we maintain this momentum and can expand with our clients into Sri Lanka, certain that the business is in good hands."

Ranil de Silva, who founded Solutions in June of this year and is now Managing Director of Leo Burnett Solutions, lnc., is an 18-year advertising veteran and a well-respected industry leader in Sri Lanka. He was formerly international Vice President and Managing Director of J. Walter Thompson in Colombo; under his leadership that agency was ranked number one in Colombo for five years.

"There is tremendous synergy between Leo Burnett's philasophies and the opportunities in the Sri Lankan market," said de Silva. "Leo Burnett's experience in brand-building and innovation in human insights are invaluable assets to our operation. The strength and quality of the network are impressive and will enable us to harness the value of that global intellect and expertise for the benefit of our clients."

Boeing builds newest jetliner to deliver in the new century

The first new derivative-design airplane to deliver in the next century took shape in June as the wing, body and tial sections of the 767-400ER were joined in the Boeing factory. "We started with aggressive goals, and this airplane has come together even better than we planned," said Alan Mulally, president, Boeing Commercial Airpplanes Group. "It's setting the stage for a very successful programme." The 767-400ER is scheduled to roll out of the factory in August and make its inaugural flight in October. The flight-test programme will use three airplanes, with the U.S. Federal Aviation Administration (FAA) type certification and European Joint Aviation Authorities (JAA) validation of the type certification expected in April 2000. The first airplane will deliver to launch customer Delta Air Lines in May 2000.