Jul 31 - Aug 06, 2000
1400 NBP branches to be
brought under automation; Half yearly results reviewed
The second meeting of business promotion and target monitoring
committee of the National Bank of Pakistan reviewed productivity and efficiency of the
bank and decided to bring its 1400 branches under automation fixing the deadline for
The meeting was held at the NBP Head Office under the Chairmanship of
Syed Ali Raza, President, NBP, and attended by Regional Chief Executives and Divisional
Heads to review the half-yearly results.
Emphasis was laid on standardization and formatting of credit
processing where government priorities were given due consideration. Credit allocation and
disbursement with effective implementation was deliberated at length with preference to
exports and small and medium enterprises. The oil, gas and agriculture sectors were given
top priority when it came to boosting their resources.
The committee decided to provide lucrative incentives to outstanding
employees while penalizing those with a lethargic approach to their duties under a new
punishment and reward system.
The NBP top brass decided to provide best facilities to the customers
under the motto "Practice what you preach" with a friendly atmosphere. To
achieve the objective, NBP branches all over the country were ordered to provide best and
courteous service to the customers.
Floris Deckers, Regional CEO, ABN AMRO, Visit Pakistan
Floris Deckers, CEO of ABN AMRO, Asia Pacific, visited Pakistan last
week to attend the inauguration ceremony of ABN AMRO Bank's new Country Head Office in
Deckers, a Dutch national, began his career in 1977, with the
Hollandsche Beton Group (HBG), firstly as Treasurer, International Division, and later as
Finance and Administrative Manager for a joint venture between HBG and Philip Holzmann,
Germany's largest construction group, in Dammam, Saudi Arabia.
In 1981, Deckers joined ABN AMRO Bank as Head of Construction Finance
and in 1983, he was made the Director Adjoint Department des Grandes Enterprise.
Deckers has worked in many countries throughout his career. In 1985, he
was sent to ABN Ireland, as General Manager and later on in 1989, was promoted as Country
Manager. He also served as Country Manager. ABN Italy, from 1989 to 1991, heading 3
branches, a leasing company and a Finanziaria.
Floris Deckers became the Regional Manager, ABN AMRO Europe, in 1991,
heading operations in 8 leading European countries and also the International Diamond
Division. In 1994, he was assigned the office of CEO, ABN AMRO, for South and Central
America, where he worked till March 2000, when he was appointed the CEO of the Asia
Pacific region, the post he holds to date.
Deckers is the Director and also a member of the Senior Credit
Committee of Bladex (Branco Latino de Exportaciones), a multilateral bank. He is also the
proud recipient of the Rio Branco Medal of Merit, bestowed by the Brazilian government on
those who render significant services to the country.
SZABIST wins 11th all Pakistan Dr. A. Q. Khan Software
Students of Shaheed Zulfikar Ali Bhutto Institute of Science and
Technology (SZABIST) grabbed the 1st position in the Professional Category, 2nd position
in Student Business Category and 2nd position in Student Education Category in the 11th
All Pakistan Software Competition and Exhibition organized by Dr. A.Q. Khan Research
Laboratories in Islamabad on July 22-24, 2000. This is 3rd consecutive year that SZABIST
has won the 1st prize in All Pakistan Software Competition.
Software called "HAWKER" got 1st position in the Professional
Category was designed by Azam Chandio, Muhammad Zubai Chatta and Obbia Barni. The Software
is customized robot for searching news on various topics and it has the ability to make
agents which can search the required information for users.
"Pak Medical Lab Online" software integrates the laboratories
and provides online access to the medical laboratories databases to its users was created
by Dr. Hassan Mehdi Zaidi, Abdul Wahab Fakih, Fahimuddin Khan, Shahid Ali, and M Boota
Rana got 2nd position in Student Business Category.
"Zab Mag" software is a web application designed for
publishing research articles was designed by Mr. Asif Khawaja, Asim Raza, Ghulam Nabi
Khaskheli, Sajjad Haider and Mohammad Quaid Johar got 2nd Prize in Student Education
180 Software entries for various categories were included in the
software competition from all over Pakistan. SZABIST sent 3 software entries and all these
three entries got 1st and 2nd position.
Habib Bank AG Zurich
Following are the rates of distribution of profit for the half year
ended 30th June 2000 as declared by Habib Bank AG Zurich (Incorporated In Switzerland)
Karachi on 17th July, 2000.
Special Notice Deposit
Habib Zurich Flexi-Deposit Certificates (As per Scheme)
rate of return
Habib Zurich-Monthly profit (As per Scheme)
rate of return
"International Industries Ltd. (IIL), Pakistan's largest
Galvanized steel pipes and tube manufacturing company, has successfully been recommended
for ISO-14001:96 Environmental Management System, certification by BVQI. On July 5th, 2000
IIL became the first company in Pakistan to be certified to ISO/Draft International
Standard 9001:2000 by BVQI.
President Muhammad Rafiq Tarar Inaugurates ABN AMRO Bank's New
Country Head Office in Karachi
ABN AMRO Bank's new Country Head Office in the city of Karachi, was
inaugurated by President Muhammad Rafiq Tarar; accompanying him were Mr. Floris Deckers,
Regional CEO, ABN AMRO Asia Pacific, and Mr. Muhammad Aurangzeb, Country Manager, ABN AMRO
This state of the art building located on main Abdullah Haroon Road,
Karachi, offers ABN AMRO Bank's entire range of products and services. The new premises,
equipped with ATMs, along with a 24 - hour telephone banking center and lockers, represent
ABN AMRO Bank's strong commitment to the growth of its banking franchise in the country.
From Corporate and Consumer Banking, to Investment Banking and Structured Finance, these
new premises offer all financial services under one roof.
Speaking at the inauguration ceremony, President Tarar said,
"During this time, ABN AMRO Bank has displayed strong commitment to this country. It
has continued to invest in Pakistan, and especially over the last few years, has certainly
increased its presence and profile in the country. In this regard I am also extremely
pleased to see that it has continued to strengthen its ties with Pakistan, and today with
the city of Karachi. The development of Karachi, and for that matter any great city, needs
organizations that are active corporate citizens which work towards the socio-economic
well-being of the country and its people."
ABN AMRO Bank's commitment to Pakistan and to its customers is apparent
through the construction of its own office premises in two cities, as well as the launch
of two additional off-site ATM centers, one each in Karachi and Lahore. ABN AMRO Bank has
enhanced its distribution network through alliances with strategic partners, with the
introduction of the first ATM sharing network in the country, in collaboration with Askari
Commercial Bank. Just recently, the bank further strengthened its network by joining hands
with Habib Bank Limited in the further expansion of its shared ATM network with Askari
Mr. Floris Deckers, Regional CEO, Asia Pacific mentioned that ABN AMRO
Bank has shown strong commitment and reposed great confidence in the country. The Bank has
been a forerunner and partner in the development of the financial market and in the
progress of the corporate and public sectors in Pakistan. Investment in the construction
of this building and the branch in Lahore, and the establishment of a Software development
house in Lahore, reaffirms the positive long-term outlook on the country.
In Pakistan since 1948, ABN AMRO Bank N.V., has shown strong growth in
recent years, establishing itself not just as a corporate bank, but a customer-focused and
dynamic consumer bank. It is the only foreign bank to have made long term commitments in
Pakistan, which are reflected in the construction and ownership of its bank premises in
Karachi and Lahore, and the expansion of its network to five branches in Pakistan.
Additionally, it has also set up the largest software house in the country, at Lahore.
PROF. FEROZUDDIN KAZI
Prof. Ferozuddin Kazi is Dean, Faculty of Commerce & Business
Administration, Member Syndicate, University of Sindh, Jamshoro, Sindh, Pakistan &
Member Board of Governors, Board of Intermediate & Secondary Education, Hyderabad.
Prof. Ferozuddin Kazi, hails from the Studious family of Nasarpur town, district
Hyderabad. He earned his Masters in Commerce and Diploma in Business Administration, from
University of Sindh, Jamshoro, Sindh, Pakistan in 1972. Later, he also earned Diplomas in
Personnel Administration and Industrial Relations from Pakistan Council of Legal Education
& Research, Karachi Sindh, Pakistan.
Mr. Kazi started his career as a Lecturer in 1973 at St. Patrick's
College, Karachi and gradually achieved ascendancy to professorship in Commerce in 1993
through dint of his devotion to the profession He has held several top slots of teaching
and administration in the Faculty at University of Sindh, Jamshoro.
Prof. Kazi has an extensive academic, research and administrative
experience. His academic endeavors focus on Human behavior and Management for competitive
success and strategic change. His academic expertise also spans the areas of Accounting,
Auditing and Marketing. During his 26 years teaching and research profession he has
authored one book on Business Taxation in co-authorship and a wide variety of research
articles published in National and International repute journals.
Mr. Kazi has also worked and completed a Research Report on
"Export Marketing of Banana and its impacts on Foreign Earnings of Pakistan during
He is also Research Guide for M.Phil in Commerce and Co-guide of Ph.D.
in Social Sciences at University of Sindh, Jamshoro, Sindh, Pakistan. He successfully
participated in various Conferences, Seminars and Symposia.
Prof. Kazi is founder member of the Institute of Business Studies of
the University of Sindh, and served both Department of Commerce and the Institute of
Business Studies as Chairman and Director respectively, from time to time. He is the
pioneer Professor and Director of MBA Executive Evening Program, University of Sindh, Elsa
Kazi Campus, Hyderabad, Sindh, Pakistan.
(Academic Linkage with Edinboro University of Pennsylvania, USA and
Dhaka University Bangladesh).
He has been working on numerous Committees in the University of Sindh,
Jamshoro. He is a visiting scholar at different Business Institutes, Colleges and
Universities of Province of Sindh. Prof. Kazi is also the member of Board of Governors,
Board of Intermediate & Secondary Education (BISE) Hyderabad,
The Governor Sindh / Chancellor, University of Sindh has nominated
Prof. Kazi as a member of the Syndicate at University of Sindh for a period of three years
amongst the category of Deans.
Mr. Kazi was awarded Shield by Managing Editor, Pakistan & Gulf
Economist (PAGE) Karachi, Sindh, Pakistan in recognition to his Meritorious Services in
the field of Education for the year 1997.
In recognition to his terrific contributions towards the educational
cause in general and to the University of Sindh in particular, The Vice Chancellor,
University of Sindh, Jamshoro awarded him Gold Medals for the years 1997 and 1998.
The Governor Sindh / Chancellor, University of Sindh has appointed
Prof. Ferozuddin Kazi, Department of Commerce as Dean, Faculty of Commerce & Business
Administration for further period of three years with effect from June 09, 2000.
American Express TCs business growing
According to Mr. John Chia, the visiting General Manager of the
American Express Travellers Cheque Group for Japan, Pacific, Asia and Australia, the
growth of travellers cheques in Pakistan has increased by 50 per cent in the last two
years. He was talking to newsmen at a press conference called to promote the travellers
cheque business in Pakistan. He added that most seasoned travellers prefer travellers
cheques as their mode of payment. He said that American Express promises the replacement
of lost or stolen cheques anywhere within 24 hours and are available in US, Canadian and
Australian dollar, pound sterling, Euro, French franc, South African rand, Japanese Yen
and Saudi riyal.
22.5% dividend declared by Unit Trust of Pakistan
UTP, the first and the only open-ended mutual fund in the private
sector, under the management of ABAMCO Limited, has announced its results for the year
ended June 30, 2000, being the first security listed at the Lahore Stock Exchange to do
The Net Income of UTP was reported to be Rs. 109.30 million as compared
to Rs. 48.61 million, which is an improvement of 124.85% over last year.
The Management Company has declared a dividend of 22.5% i.e. Rs. 1,125
per Unit of the par value of Rs. 5,000 for the year ended June 30, 2000 as compared to
13.5% i.e. Rs. 675 per Unit last year. The dividend will absorb Rs. 99.55 million, which
is equivalent to 91.08% of the year's total income. UTP has been maintaining a record of
declaration of dividend from the very first year of its operations. The net asset value
(NAV) of UTP as on June 30, 2000 was reported to be 5,300 rupees after appropriation of
dividend as compared to 5,050 rupees on June 30,1999, which shows an improvement of 4.95%
over last year. Together with the appreciation in the net asset value and dividend payout.
the total return on UTP Units comes to 27.22%
During the year under review, 30,838 Units were sold as compared to
6,130 Units last year. The redemptions in the current year were 13,285 Units as compared
to 3,486 Units last year. The net sales for the year were 17,553 Units amounting to Rs.
119.52 million in terms of value as compared to 2,644 Units i.e. Rs. 15.63 million during
last year. As on June 30, 2000, Units outstanding were 88,496 with a value of Rs. 469.046
million, as compared with 70.943 Units with a value of Rs. 358.28 on June 30, 1999. This
reflects an increase of 24.74% in outstanding number of Units and 30.92% in their values.
The Board of Directors of ABAMCO Limited has approved the issuance of
class "D" Units, carrying "Contingent Sales Load" subject to the
approval of Securities and Exchange Commission of Pakistan. Under this class of Units, no
sales load will be payable by investors when investing in Units. Sales load will be
payable on redemption of Units and the rate will decline for every year Units are held.
For long term investors there will be no sales load.
After the dividend declaration. the transaction in Units of UTP will
recommence from Monday, July 24, 2000.
Want a deal? SCB 123 Auto Loans Special Summer Promotion
Standard Chartered Pakistan announced the formal launch of its Auto
Loans Program, SCB-123, at an impressive and grand opening held at the lawns of the Beach
Luxury Hotel on March 29, 2000. Through the launch of SCB-123, Auto Loans Program,
Standard Chartered Pakistan has firmly established its position as a provider of customer
oriented, innovative products and services in the Consumer Banking business in Pakistan.
Standard Chartered Bank's latest promotion is a tie-up with the banks
authorised Suzuki dealers network, offering all Suzuki models at incredibly low monthly
installments. For example, the Suzuki Mehran is now available for only Rs. 6,970 per
month; similarly, the Suzuki Cultus is available for only Rs. 9,389 per month. The deal is
centered upon waivers of processing fees (Rs. 4,000), vehicle registration fees and the
first month's installment. There is an instant savings realization of up to Rs. 20,000
when a customer finances a Suzuki vehicle through SCB-123 Auto Loans. To further spice up
the deal, a low insurance premium of only 4.5% of the vehicles value, and free seat covers
and mats are offered to the customer.
Keeping in mind the convenience and easiness to obtain an Auto Loan,
the promotion has been specially designed to ensure that the customer can drive away with
the hottest selling car in the market, the Suzuki Cultus, in only 72 hours. Priority
delivery requests for the Mehran and other models (including all metallic colors) have
been accommodated by the bank's authorised Suzuki dealerships, thus ensuring that all cars
are driven away by the customers within 4 days.
The flexibility offered by SCB-123, to finance cars for up to 7 years,
ensures that your monthly contribution amount can be reduced significantly. The mark-up
rates and loan installments are fixed over the loan tenor, thus making it easier for
customers to manage their finance. All vehicles financed through Standard Chartered Bank
are registered in the customer's name (unlike leasing companies where the car is
registered in the company's name).
The new mass-market product helps Standard Chartered continue with its
goal to increase its customers base whilst continuing to help in the development of
Pakistan and its economy. Not only has the bank been in the region for over 137 years, but
also its investment and expansion plans in the country continue to grow. Commenting on the
banks continued commitment to Pakistan, Standard Chartered's Chief Executive, Mr. Zahid
Rahim stated. "We have had a long and historical association with Pakistan and its
people and are now renewing this commitment by setting global standards. In order to
provide our customers with a diversified product and service portfolio, it is only natural
for us to make further investments fin new banking solutions that meet our customers' high
Want a Deal?
Low down payment of 20%
Instant savings of up to
Lowest mark-up rates
First installment waived
Vehicle registration fee waived
Processing fee waived
Low insurance premium at only 4.5%
Free seat covers and mats
Free ATM card, chequebook and 24-hour
SITE association welcome the KESC decision
Imran Shaukat, Acting Chairman, SITE Association of Industry, has
hailed the realistic decision taken by Lt. Gen. Zulfiquar Ali Khan, Chairman KESC, to
withdraw the additional Security Deposit on electricity bills. He described this as a bold
and pragmatic step and stated that it would bring about a more positive reaction among the
industrialists. Imran Shaukat further praised the untiring and selfless efforts of past
Chairman, Zubair Motiwala, who was instrumental in convincing the KESC hierarchy that the
demand for additional Security Deposit would detrimental to the industry of the country.
Imran Shaukat added that the industrialists of Karachi, especially of
SITE, pledge to assist KESC in recovering the outstanding amounts from industrialists, if
any. He said that the SITE Association does not & nor will ever support or cooperate
with wilful and habitual defaulters. He also stressed that it is also the duty of KESC
personnel to ensure that there is uninterrupted power supply, that there is increased
efficiency and motivation, and that there is an end to any and all malpractice. He said
that KESC is a very vital organization for the country and its survival and sustainability
is paramount to the prosperity of Pakistan since this prosperity strongly depends on the
continuous operation of industrial units in Karachi.
Shell affirms white oil pipeline plan
Shell Pakistan Limited confirmed that it was moving to the detailed
phase of its ongoing dialogue with the Pak-Arab Refining Company (PARCO) aimed at Shell
Pakistan's taking a 26 per cent equity stake in the $530 million white oil pipeline
project to transport petroleum products from Port Qasim to Mehmoodkot. "We still have
work to do, but we feel positive about this project based on what has been done so
far." "It underpins our marketing investment and fits closely with Shell's
emphasis on safety and the environment. This pipeline will deliver substantial economic
benefits to Pakistan for years to come, and there is no cleaner, safer way to feed the
market heartland. It is also an opportunity for Shell to build on its 100-year
relationship with Pakistan."
Shell increased its equity stake in Shell Pakistan Limited earlier this
year by inward remittance of Rs. 1.0 billion and Shell Pakistan is investing Rs. 900
million in its operations (including 100 new and upgraded retail stations) in the year
2000. Shell companies in Pakistan have invested over Rs. 11.0 billion in the country over
the last five years.
ADAMJEE INSURANCE ACHIEVES QUALITY APPROVAL FROM LLOYD'S
REGISTER QUALITY ASSURANCE
Adamjee the largest insurance company of Pakistan now stands
approved as an ISO 9002 Company by the leading international certification body Lloyd's
Register Quality Assurance. Thus, Adamjee becomes the first general insurance company in
Pakistan to achieve this prestigious quality standard.
While conducting their assessment, Lloyd's auditors were impressed by
the level of commitment and standard of professionalism demonstrated by Adamjee officers
and executives. Lloyd's termed it as the highest experienced by them in Pakistan.
Adamjee's Managing Director Mr Mohammed Choudhury was verv pleased with
the achievement of his team. He said that Adamjee Insurance is now even more firmly
committed to supplying its customers with a consistent level of quality service.
ISO 9002 certification coming in the wake of MAP's " Corporate
Excellence Award won by Adamjee twice in a row coupled with Duff & Phelps "AA
-" Claims Paying Ability augurs well for the insuring public in Pakistan.
Javed Jabbar, Minister for Information, Media Development and National
Affairs formally inaugurating the website, www.mappak.com, of Management Association of
The Minister for Information, Media Development and National Affairs,
Javed Jabbar, addressing a seminar organized by Management Association of Pakistan. The
topic was Pakistan's Image Reality and Distortion, Fact and Fiction"