There is a greater need to recognize the efforts of listed companies
By SHABBIR H. KAZMI
Oct 04 - 10, 1999
The Management Association of Pakistan (MAP) recently organized the
15th Corporate Excellence Award distribution ceremony. Governor Sindh, Mamnoon Hussain was
the Chief Guest. Awards and certificates were distributed on the basis of performance of
the listed companies for the year 1997. For the first time, awards and certificates were
conferred on companies belonging to financial services sector also.
Awards and prizes indeed provide encouragement to the corporate sector.
They work as catalysts for the encouragement of management excellence. "I am glad to
know that more and more companies are coming upto the mark of preliminary criteria which
definitely shows that Pakistani corporate sector is taking cognizance of the importance of
the modern management principles being practiced in the developed world. This is the only
way we can compete in the international market and promote our exports to make a strong
and prosperous Pakistan," the governor said, adding: "The Corporate Excellence
Award of MAP excels itself from others because of its professional approach for assessment
of the companies." The Award, introduced in 1982, has expanded to include the
financial sector companies for awards for the year, for the first time.
Working within the objective conditions of Pakistan in the late
nineties with all the factors of conflict, uncertainty, inadequacies such as those of
skilled manpower and materials these institutions and the individuals who lead them have
nevertheless recorded significant achievements.
The winners represent the building blocks of our economic
infrastructure because they provide employment, training and career growth opportunities
to thousands of people and contribute a substantial share to the economic growth and
progress of our country.
The pursuit of economic development is the best done through
partnership between private sector and government wherein professional management can play
a decisive and dominant role. The only fact that makes this cooperation essential is that
management expertise which is possessed by the professionals and entrepreneurs is
available to government and makes its contribution to overall growth, thus assisting
government in making the national goals and objectives as specific as possible. Such a
participation will go a long way in developing the motivation and commitment of all in the
national economic effort.
Earlier, in his welcome address, Moin M. Fudda, President of MAP said:
"The Association is a premier body of professional managers and eminent entrepreneurs
in the country. Based on the conviction that effective management is the most important
actor in ensuring successful implementation of ambitious plans for economic development of
the country, Association stimulates interest in and disseminate knowledge on more
sophisticated management techniques practiced the world over. Effort is being made to
achieve the objective through organizing training courses, workshops, seminars and
convention on almost all facets of management science as well as through Corporate
MAP was established in 1964 and the pioneers were Amir S. Chinoy, Jimmy
H. Fancy, Khawaja Naseeruddin, Masud Karim, Jamil Nishter, Zaka Rahmatullah, I. A.
Mukhtar, Anwar Jamal, Irshad H. Khan, Akbar Fazelbhoy and Akbar Mirza. Recalling their
Fudda said, "I'll fail in my duty if I do not remind ourselves of
those who laid MAP foundation. Some of them are no longer with us. Their contribution and
foresight is greatly acknowledged. He also thanked members of executive committee
specially Zaffar A Khan, Chairman Corporate Excellence Award sub-committee and other
members of his team and staff of the Association.
Zaffar A. Khan presented a historical perspective and changes made in
the criteria over the years. The Association developed a separate criteria for the
evaluation of financial sector companies. An expert from the British Executive Service
Overseas (BESCO) was hired for this purpose. Based on his discussions with the CEOs of
various professional, industrial and commercial organizations, he prepared a report to the
executive committee and then the final criteria was prepared.