Mar 06, 2000
Progressive Financial Consultancy was established under the Companies
Ordinance 1984 by a few veteran Professional Bankers with a view to provide customized
services to its diversified Clients. The management of the Company is in the hands of
competent professionals with impeccable background and proven track record in the
international and local Financial and Banking Industry. The Advisory Panel of the company
includes senior bankers of international repute who are currently heading large financial
The aim of the company is to serve the nation and contribute positively
towards stability and growth of the economy by providing employment opportunities to the
youth by keeping in view the Governments directives for the recovery of bad and doubtful
loans. Also Recovery of PTCL dues and similar other services.
Mr. Akbar M. Bilgrami a senior banker with wide experience of National
and International Financial Sectors is the President & Chief Executive of the company.
Mr. Bilgrami's Banking career dates back to 1961 with Bank of America, which took him to
Middle East, Iraq East, Europe during 25 years associated with them. Subsequently for 14
years he has worked with other International Banks also with Public Sector and lately
headed a leasing Company as its founder Director & Chief Executive till September
PFC started operations in July 1998 and has received a very encouraging
response from the Financial Market. In a short span of time it added to its Clientele a
list of diversified National and International Organizations.
PFC is now generally known in the market for Debt Collection Services,
besides Debt Collection PFC is also engaged in providing services such as Godown
Inspections, Data Verification, Feasibility Reports, Head Hunting, Debt Management and
other advisory services.
PFC has signed a contract with Pakistan Telecommunication Co. Ltd. for
Debt collection services and, as pilot project we are focusing recovery drive in Defence
and Clifton areas of Karachi but at a later stages we intend to cover other parts of
Pakistan. Besides PTCL, Progressive Financial Consultancy is also engaged in providing
services to its clients like American Express, Bank of America, Diners Club, Mobilink,
Union Bank, and MCB Master Cards.
PFC office is equipped with latest technology and 20 plus regular
staff, are MBA's, Bankers, Accountants and Graduates. Directors of PFC are focusing on a
business which suits to our Business Partners, and wishes to concentrate on other
challenges ahead of them. The role of PFC comes where customized debt management plan is
workable to suit the needs of a business concern. Survey and data verification is required
for effective and efficient control.
Our objective is to reduce the expenses of our Business Partners in
terms of pay roll and other administration expenses and to provide low cost solution for
the problem areas.
So far we have been successful in our efforts and look forward that we
are known in the market and assist any potential client to save his cost.
Gillette declares its first ever Dividend in Pakistan
Gillette Pakistan has announced the payment of 7.5 per cent dividend,
the first ever in the Company's history, to its shareholders following impressive
financial performance in 1999. The financial results for the year ended December 31, 1999,
show a very healthy growth. Domestic sales grew by 15 per cent to Rs. 466 million as
compared to Rs. 404 million last year. The operating profit increased by 21 per cent to
Rs. 65 million in comparison to the year before. Profit after taxation grew to Rs. 60
million, an increase of 70 per cent compared to 1998. Earnings per share jumped to Rs.
3.14 per share against Rs. 1.85 per share last year.
Despite difficult economic conditions Gillette Blue II, Gillette Sensor
Excel and Gillette Series Toiletries all performed very strongly and were the major
contributors towards the overall growth in sales. During 1999 Gillette increased the
investment in advertising and in-store displays along with expanding the distribution of
all these products in retail substantially.
Strategic Alliance MOU signed
Dewan Farooque Motors Limited (Hyundai Division) and Shell Pakistan
Limited signed a MOU of Strategic Alliance on February 24, 2000. This consisted of
exclusive use and recommendation of Shell Lubricants at DFML Plant and Hyundai Dealers
throughout Pakistan, storage of Hyundai Spare Parts at Shell Outlets nationwide and
various other marketing activities, which DFML and Shell would carry out jointly. This
agreement is the first of its kind in Pakistan.
Group photo taken at the signing of MOU between Dewan Farooque Motors
Ltd. (Hyundai Division), and Shell Pakistan Ltd. Seen in the photograph are: Dewan
Abdullah Ahmed (Deputy Managing Director, DFML); S. Mateen Ahmed (Director Sales &
Marketing, DFML); Asad Raza Faiz (Manager Finance, DFML); Quentin D'Silva (Commercial
Manager Shell); Amjad Shahabuddin (Marketing Implementor Middle-East, Shell); Khurram
Nadeem (Technical Engineer, Shells), along with others.
The Chairman BOP Mr. Tariq Sultan presented a shield to the Governor
State Bank of Pakistan Dr. Ishrat Hussain as a momento of his visit to the Bank
NBP Chief Given Additional Charge of ADBP
The NBP president, Mr. Mohammadmian Soomro, has been given the
additional charge of the chairman of the Agricultural Development Bank of Pakistan (ADBP),
by the federal government recently.
The move is seen as recognition of Mr. Soomro's efforts in turning NBP
around, from a net loss maker in 1996, to a profitable institution in 1997. This time, he
has been entrusted with reorganising ADBP along modern and professional lines.
When Mr. Soomro was appointed the chief of the NBP in 1996, the bank
had suffered a net loss of Rs. 1.2 billion, but due to his untiring efforts, it made a
swift recovery and in the next year, 1997, it posted a net profit of Rs. 995 million. The
bank continued to progress under Mr. Soomro's able leadership, and in 1998, it more than
doubled its profit to Rs. 2.1 billion.
1999 has proved to be an even more successful year, and according to
the provisional accounts, a profit of Rs. 3.5 billion, paid-up capital of Rs. 1.4 billion
and reserves of Rs. 13.5 billion.
Dewan Farooque Motors Limited launch Hyundai Santro Plus 1000 cc
Dewan Farooque Motors Limited launched their new Hyundai Santro Plus
car in a grand launching ceremony held at a local club recently. The people witnessed with
great interest the dramatic and unique unveiling of the car, which is the only 1000cc car
in Pakistan powered with Multi Point Fuel Injection (MPFI) technology. According to DFML,
Santro Plus is yet another example exhibiting the company's bid to give the Pakistani
motorist the latest and best in international automobile technology.
Dewan Farooque Motors Limited has a Technical Licence Agreement with
Hyundai and have already launched Grace Vans and 1 ton Shehzore Pick up.
Speaking on the occasion Mr. Ziaur Rehman, Chairman Dewan Farooque
Motors, pointed out that DFML actually made history by completing the plant in a record
time. Mr. B.G. Lee, M.D. Asia & Pacific Headquarters, was also one of the prominent
speakers at the ceremony.
The dramatic unveiling was followed by a spectacular display of
fireworks, a sumptuous dinner and a colorful concert featuring famous pop stars.
Mr. Dewan Yousuf Farooqui, M.D. Dewan Farooque Motors Limited presentig
cultural gift fto Mr. B.G. Lee, M.D. Asia & Pacific Headquarters.
Karachi Sheraton launches "caring" program
The Karachi Sheraton Hotel & Towers recently launched its
"Caring" program for its employees, which reinvents Sheraton with a-new
strategy, personality and aggressive sales and marketing campaign - a plan that aims to
clearly differentiate Sheraton from all others in the upscale hotel category. This program
has been developed to help enhance Sheraton's image, improve productivity, consistency and
achieve Operational Excellence.
Mr. Thomas C. van Opstal, General Manager, Karachi Sheraton Hotel &
Towers, gave a presentation to all the employees at the occasion briefing them about the
new face of Sheraton, and giving them an introduction of the global Sheraton strategy and
goals. Employees were updated about the role Starwood Preferred Guest plays in driving
loyalty. Sheraton's new TV and print advertising campaign was shown to the employees after
the presentation. To ensure that all the employees would be able to be a part of the
launch program, it was held in three sessions.
Karachi Sheraton Hotel & Towers is a part of the Starwood Inc. The
Starwood Hotels & Resorts Worldwide, Inc., through its St. Regis, Luxury Collection,
Westin, Sheraton, Four points and W subsidiaries, is one of the leading hotel and leisure
companies in the world with more than 700 hotels in 76 countries and 130,000 employees at
its owned and managed properties.
Mr. Thomas C. van Opstal, General Manager, Karachi Sheraton Hotel &
Towers is giving a presentation to the employees, about the "Caring" program
launch by the hotel markeing their new strategy and personality in the hotel industry.
Karachi sheraton hotel & towers makes history in catering
As the Outside Catering van treaded its way through the deserts of Sind
and the fertile lands of Punjab, the Karachi Sheraton Hotel & Towers made history in
the hotel industry by being the first hotel in Pakistan to offer its "OUTSIDE
CATERING SERVICES" beyond its own city limits.
Travelling a distance of 1800km, Karachi Sheraton Hotel & Towers'
Outside Catering Van arrived in the capital city of Islamabad, to cater to the grand
reception hosted by the Kuwait Embassy on the National Day of Kuwait.
A team of 22 Chefs, 26 operational staff along with Mr. Thomas van
Opstal, General Manager, Mr. Qaiser Khan, Director of Food & Beverage & Ms. Sajida
Bandukwala, Public Relations Manager were present at the occasion. The extensive menu
ranged from a large variety of appetizers such as canapes, Arabic mezehs and seafood
bites, followed by Mongolian & Pakistani barbeque, Pasta stations, Wok Stations with
Prawn tempura, eight varieties of vegetables on the Buffet, and a great selection of
delectable desserts. In addition to this, a heavy load of equipment was trarisported to
Islamabad including cooking utensils, cutlery, crockery, linen, napkins and many other
It all started in November, when the Ambassador of Kuwait H.E Muhammed
Ahmed Al-Mijrin Al-Roomi impressed by a reception hosted by Karachi Sheraton in Islamabad,
commented that he would like to cater to his National Day event by an international hotel
which does not have a presence in Islamabad. Therefore, the Karachi Sheraton took on this
great challenge of crossing two provinces to give the elite of Islamabad an event that
they will always remember.
KarachiSheraton Hotel & Towers becoame the first hotel i Pakistanf
to offer its "Outside Catering Services" beyohd its own city limits when they
catered to the grand reception hosted by the Kuwait Embassy on the National Day of Kuwait.
Group photo of Ambassador of Kuwait H.E. Muhammed Ahmed Al-Mijrin Al-Roomi with Mr. Thomas
C. van Opstal, General Manager, Mr. Qaiser Khan, Director of Food & Beverage, Ms.
Sajida Bandukwala, Public Relations Manager and Mr. Humayun Aftab, Sales Manager was taken
at the ocasion.