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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 Institutions.

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 1999.

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 car

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 services

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 accessories.

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.