. .

Jul 17 - 23, 2000

UBL Board approves customer focused Restructuring Plan

UBL Management recently presented to the Bank's Board of Directors its latest restructuring plan. This plan has been developed after in-depth discussions at various management levels keeping in view the realities of the market and modern banking requirements in terms of skills, customers service and employee compensation. The plan aims to implement the standards of service and performance which are presently the norm the world over.

The restructuring plan will concentrate on the following broad elements: segregation of operations from marketing; building a sales force on a variable compensation plan; and focusing on customer service through universal tellers and increased automation.

The Board was informed that present day banking requires manpower specialization and an efficient MIS using a single source. The Bank plans to move towards a functional structure with a focus on customers through a segmented customer base. The reorganization is being complemented by modifying some functions and introducing others. The staff will be repositioned to sell the Bank's products. There is also going to be a comprehensive focus on bringing decision-makers closer to the customers to ensure efficient service, particularly to the preferred customers of the Bank. The reorganization is aimed to increase the profitability of the Bank through improved and efficient service to the customer. This will also lead to the better compensation for the staff.

The restructuring plan envisages a Hub and Spoke branch concept. This is in wide use in other international markets and satisfies the present day banking requirements. In this system the majority of the branches (SPOKES) act as customer delivery channels built around one-stop processors. The HUBS act as back office, and provide support to the Spokes.

The Board was apprised that the Hub/spoke plan has been developed to ensure better services according to customer needs identified through segmentation, ensure cross selling of products, provide improved customer service better branch premises, and achieve growth in income. As a result, the Bank will be able to afford better salaries for the staff based on the creation of an additional variable compensation system linked to the incremental business generated by branches.

The Hub/Spoke system will also empower the bank employees and provide them total control over the progression of their careers professionally and financially. This setup will also foster teamwork.

The Board, however, noted with concern the external issues faced by the Bank, which are affecting the efficiency of its operations. The Bank has been prohibited to pursue those cases of recovery that are with the National Accountability Bureau (NAB), this is slowing down the recovery process.

It also noted with concern the fact that the Bank has not received Tax refund from the Central Board of Revenue.

Cisco Announces Commitment to Developing Internet Networking

Cisco Systems, the .world-wide leader in networking for the Internet, formally announced its representation in Pakistan, and committed to rapidly ramp up its investment in technical, marketing and educational programmes in this country. Cisco also announced that until the full office was in place, a representational office under the leadership of Pakistan Territory Manager, Haris Zahoor, will initiate programmes to help Cisco's partners in Pakistan make the most of the growing surge of interest in Internet technology.

"Pakistan is now a very exciting market for Cisco. The new government's policies towards developing Internet technologies are very encouraging. It gives a clear message that technology is now on agendas at the highest levels of economic, trade, communications and education ministries," said Rowland Griffiths, Regional Director of Cisco Systems Middle East. "Cisco applauds this progressive stance on technology. It gives us the confidence to invest heavily in this region as it develops."

Cisco is the world's leading company in providing integrated technology for Internet, networking and security systems for customers ranging from small businesses through to large enterprises and telecommunications operators. It is estimated that over 80% of the traffic travelling over the global Internet passes through Cisco equipment. It is the world's second largest company by market capitalisation.

Cisco has already successfully rolled out several of its global initiatives in Pakistan, the most notable of these being the Cisco Networking Academies Programme.

The Networking Academies Programme seeks to address the growing shortage in skilled networking engineers, before this shortage begins to affect the ability of local organisations to grow and prosper. The Networking Academies Programme provides schools, colleges and universities with the latest networking equipment, educational material, course curricula and training for teachers and educators, to allow them to give students a thorough grounding in both the theory and practice of implementing and managing technology systems.

Hamdard University in Karachi was signed up near the beginning of the year as a Regional Networking Academy. A Regional Networking Academy provides training to the smaller Local Networking Academies as they are created.

The Usman Institute of Technology (Karachi) was signed up recently as a Local Networking Academy, and negotiations are for down the track with other Pakistani academic institutions.

Apart from investing in purely academic education programmes, Cisco also provides significant resources to increase the technical skills of partners and systems integrators in the countries in which it operates. This is achieved through subsidised training and technical seminar series.

Cisco is also developing the market with special prices on certain products, such as Remote Access Servers, important for companies wishing to offer Internet access. By developing the Pakistan market in conjunction with authorised partners, Cisco is ensuring that its customers in the country receive proper service and support from trained engineers.

The Internet has fundamentally changed how organisations interact and do business. This applies even more developing countries, which need to take advantage of every potential means to become competitive with developed economies in the Far East, Europe and US.

Cisco believes that Pakistan is now on the cusp of a massive growth curve, which will be fuelled by technology. The programmes and initiatives instituted by the Pakistan government will nurture this growth. Cisco will be ready to provide resources, expertise, skills and the latest technology to make this boom possible.

Starwood President for Africa, India and the Middle East visits Pakistan

Sami Zoghbi, President, Africa, India and Middle East for Starwood Hotels and Resorts Worldwide Inc.- Hotel Group, that manages Sheraton Hotels worldwide, is visiting Karachi on July 19th to review the budgets for 2001 and the overall operations. Other executives from the Africa, India and Middle East Division (AIME) accompanying Zoghbi on his trip are Don Elliot, Divisional Director of Finance, Martin Franck VP Human Resources, Zohair Neem, VP, Director Technical Services and Servee Palmans Divisional Director of Sales.

As the Divisional President, Mr. Zoghbi directs the operations of 46 hotels in 20 countries in Africa, India and the Middle East including Pakistan. Zoghbi assumed this role in March 1998, and is based at the company's Divisional Office in Cairo, Egypt. Prior to his current position, Mr. Zoghbi served as Senior Vice President, Sheraton Corporation and President of the company's Africa and Middle East Division.

Zoghbi has more than 25 years of experience with Sheraton's Africa and Middle East Division. He began his career with ITT Sheraton in 1974 as General Manager of the Cairo Sheraton Hotel in Egypt. He was appointed Area Manager, Egypt shortly afterwards, and moved up through the division to the position of Executive Vice President, Sheraton Management Corporation, Regional Director of Operations, Middle East.

The World Gold Council and The Export Promotion

Bureau Laud The Pakistani Amateur Jewellery Designers

The World Gold Council (WGC) and The Export Promotion Bureau (EPB), came together, , at an award giving ceremony, arranged by the WGC, to laud the efforts put forward by amateur Pakistani jewellery designers at the Gold Virtuosi — an international jewellery design contest, recently held in Vicenza, Italy.

At the Gold Virtuosi, launched jointly by the WGC, Anglogold and the Vicenza Trade Fair Authorities, two winning pieces from the Zargalli 1999 gold jewellery design contest were selected in the hundred best, from amongst 3,000 designs submitted by 33 countries from all around the world.

Mr. Tariq Ikram, Chairman, EPB, awarded the certificates to the two designers Nausheen Javaid and Tabish Masroor, as well as to the sponsoring jewellers, at a ceremony held at the Karachi Marriott Hotel. Also present at the ceremony were Mr. Yousuf Akhtar Hussain, Manager Pakistan and Egypt, WGC, eminent journalists and other distinguished guests from the jewellery trade.

Mr. Yousuf Akhtar Hussain, Manager Pakistan and Egypt, WGC, while speaking at the event said, "We feel exhilarated that for the first time in the history of Pakistani gold jewellery trade, Pakistan not only participated, but its designs also qualified for the finals, in such a distinguished event. The selection of Pakistani designs amongst the world's best is a tribute to the creative talent of Pakistani youth".

The World Gold Council is an international organisation representing the interests of gold producers worldwide. Its primary objective is to identify markets with a high potential for gold consumption and to increase the global off-take of gold.

Synectiv Pakistan (Pvt.) Ltd.

Synectiv Pakistan (Pvt.) Ltd. held their official Launch Ceremony and Press Conference at their Karachi Corporate Office on July 5, 2000. The occasion was attended by eminent guests, with Mr. Bo Zaine, CEO and President, Ericsson Pakistan (Pvt.) Ltd. as the Chief Guest. The audience was addressed by the Chief Guest, along-with Mr. Arif Chandoo, Director Operations, Synectiv Worldwide Holdings and Mr. Ejaz Hassan, Managing Director, Synectiv Pakistan (Pvt.) Ltd. Paragon Advertising conducted the event with Mr. Fawad M. Janjua, Account Director, Paragon Advertising (Pvt.) Ltd. as the host.

While addressing the occasion, Mr. Bo Zaine discussed Ericsson's interests here in Pakistan and their future plans. He also introduced Pakistan's first Ericsson Service Point, available at Synectiv Display Center, and explained the services offered by Ericsson, like free software upgrade on warranted sets, qualified repair engineers and availability of Ericsson's products.

Mr. Arif Chandoo introduced Synectiv Worldwide holdings and their international operations, and Mr. Ejaz Hassan assured the audience that at Synectiv, the customers will get the most efficient and reliable solution to their mobile needs, with a combination of Accessibility, Warranty, Genuine Spares, Accessories etc.

Mr. Bo Zaine was presented a gift at the occasion by Mr. S. Fawad Aziz, Marketing Manager, Synectiv Pakistan (Pvt.) Ltd. on behalf of the Management and Staff.

The occasion was followed by inauguration of Synectiv Display Center and the Ericsson Service Point.

American Express Bank enters into an ATM Sharing

alliance With Muslim Commercial Bank

Muslim Commercial Bank Limited and American Express Bank Ltd. signed a Memorandum of Understanding creating a mutually beneficial alliance which will enable customers of American Express Bank to use ATM facilities offered by Muslim Commercial Bank. The MoU was signed by Mr. Haroon Basheer Shaikh, Head of Consumer Banking and IT and Mr. Tawfiq A. Husain, Country Manager, American Express Bank Ltd., Pakistan in a simple ceremony in Karachi. MCB has setup an ATM Switch called MNET and American Express Bank is the fourth foreign bank to sign the sharing MoU.

Speaking at the ceremony — AEB Country Manager said, "Customer service quality is the cornerstone of AEB's philosophy and this initiative will significantly enhance our customer service capability for our consumer banking clients". He added "After having considered various routes to acquire this capability AEB selected MCB as an ideal partner keeping in view the large network capability and long standing relationship with MCB".

MCB with a network of over 1200 branches is the largest private sector bank of the country. The Bank is a market leader in 24 hour banking convenience with the largest nationwide ATM network covering 11 major cities in all provinces of the country.

Javed Jabbar inaugurates MAP's website

Federal Minister for Information, Media Development and National Affairs Mr. Javed Jabbar, inaugurated the WebSite of Management Association of Pakistan.

The WebSite was inaugurated soon after the MAP seminar on the theme of "Pakistans Image — Reality and Distortion, Fact and Fiction" which was addressed by the minister the same morning as the Chief Guest.

Earlier, President MAP Mr. Moin M. Fudda announced that MAP's WebSite had been designed which contained information on all aspects of MAP's operations, but it would be updated regularly. The WebSite would be inaugurated by the Minister after the seminar. He requested the members and others to visit MAP's WebSite for their comments and suggestions on the following address: www.mappk.com the Email address info@mappk.org and map@sat.net.pk.