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Company Profile
Progressive Financial Consultancy (Private) Limited

 

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May 08 - 21, 2000

Opening doors to new financial services

A group of veteran Bankers have established Pakistan's first ever Debt Collection Agency. Progressive Financial Consultancy (Private) limited (PFC) incorporated under Companies Ordinance 1984, has its Head Office in Karachi. Few Senior Bankers of International repute, some of whom are currently heading large financial institutions including commercial banks, are on its honorary Advisory Panel. 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.

PFC started operations in the third week of October 1998 and has already signed agreements/memorandum of understanding for Debt Redemption and consultancy services with Commercial Banks, Multi-national and National companies.

PFC is a unique company in the service industry and is equipped to provide varied services to its customers. We have the ability to customize our system to suit the needs of the customers. The prime objective of the company is to act as middleman and to form a culture of sound recoveries in the country as the present government is encouraging the collection process.

PFC facilitates one window operation and provides the following services to its clients.

Debt Collection - Doubtful: PFC is specialist in the field of Debt Recovery (Receivables) through trained staff and set procedures in place to handle outstanding from written letters, follow up by telephone to personal visits and if necessary legal notices by In-house legal Advisor.

PFC ensures repossession of lent assets either through direct action or through court and within the parameters of the applicable laws.

Collection of Current Receivables: PFC also performs Debt collection which are current and are able to recover the debt in a short span of time.

PFC accelerates the settlement pace of debts, reactivate or settle recovery process of current Receivables.

The main objective of this service is to streamline the cash flow of the clients and to ensure that the deferred sales and receivables are met on due dates.

Credit Line Negotiations/Rescheduling: PFC negotiates terms for Line of Credit with Banks and Financial Institutions on behalf of the clients.

Scrutiny of Export Documents - reset cash flow / float: PFC experts will undertake scrutiny of export documents, rectification of discrepancies and issue a Certificate of Scrutiny. Assisting banks in providing clear export Documents and reducing Delays at Bank Counters, thus improving the float and dispatch of export documents.

Head Hunting and Executive Search: PFC fulfils the Human Resource requirements of the clients for the right person for the organization/company by the headhunters.

Preparation Of Project Feasibility Reports: Experts at PFC prepare Feasibility Reports for projects on requests from clients.

Godown Inspection/Survey: PFC carryies out Godown Inspections and surveys for Banks and Financial Institutions and provide acceptable regular reports as per instructions.

Internal Audit, Training, Seminar: A team of Bankers of PFC conducts Internal Audits to improve the smooth functioning of an organization and provide training, conduct seminars for a particular Department exclusively for small group. PFC provides consultancy services for Financial Institutions for pre Inspection by any Regularity authority.

Data Verification: PFC does data verification for Financial and Non-Financial Organizations for assisting in assessing Credit Status and Credit worthiness of potential and existing borrowers/customers within the parameters of the applicable laws.

Preparation of Accounts, filing of Income Tax and Wealth Tax Returns: PFC prepares Accounts and review of Income Tax and Wealth Tax returns for its filing with Authorities.

Survey and valuation of property and assets: On behalf of its valued clients PFC also performs services of survey and valuation of property.

Market Research: PFC does Market research on behalf of its clients.

Bounced Cheques: PFC provides the services for collection of returned cheques through legal course of action.

Impoundment/Repossession of Asset: Repossession facilities are available in case of defaults for assets under lease, Hire Purchase or collateral.

Monitoring Investment - Money Market/Stock Exchange: PFC has services for Individuals and companies for Rupee placements and in the Stock Exchange on mutually agreed terms. PFC monitors timely profit collection, its mark up accuracy and follow up on maturaties and maintains complete record on behalf of clients with confidentiality.

The President and Chief Executive of the company Mr. Akbar M. Bilgrami is a seasoned banker who has international and local banking experience of over 39 years, which includes 25 years from 1961 to 1985 in the Bank of America. For almost four decades he has worked in Pakistan, the Middle East and the Far East USA and South America on Senior positions.