. .

Aug 21 - 27, 2000


On behalf of the board of directors of Engro Chemical Pakistan Limited, we are pleased to present the un-audited accounts for the half-year ended June 30, 2000.

Demand for urea fertilizer in Pakistan during this period declined by 7%. Shortage of irrigation water was a principal reason for the reduction in demand. However, more importantly the domestic urea industry martins reduced significantly due to the 60 % gas price increase of July/August 1999 and last year’s excessive import of low cost urea which eroded product prices.

Production of Engro urea was 394,000 tons, which is 3% higher than last year and a new record for the Company. Urea sales on the other hand declined by 15% and were 276,000 tons. Conservative product pricing coupled with scarcity of water in the key market segments of the Company caused market share to decline from 17% to 16% during this period. The sales volume and margin of imported phosphatic and potassic fertilizers also declined substantially due to extensive involvement of traders. The Company sold 58,000 tons of these products compared to 94,000 tons sold in the same period last year.

The unfavourable business environment described above resulted in a sharp fail in the earnings of the Company. The profit after tax for the first half was Rs. 73 million compared to Rs. 385 million posted for the corresponding period last year. It should, however, be recalled that the 1999 results had benefited by Rs. 114 million on account of a refund from the State Bank and an exchange gain on the Company’s dollar deposits. To minimize the squeeze on profitability the Company embarked on programmes to contain fixed costs and to improve liquidity through financial restructuring. On both counts good progress is being made.

Engro Paktank our first joint venture was renamed Engro Vopak Terminal Limited. The company’s un-audited profit after tax for the first half of 2000 was Rs. 127 million compared to Rs. 106 million for the same period last year. Engro Asahi Polymer and Chemical Limited, our second joint venture which is in it’s first year of operation has an after tax loss of Rs. 226 million during the first half of 2000. The company’s PVC plant achieved 60% capacity utilization during this period. However, the smaller than expected market size with low growth is the major limitation that needs to be overcome. Development of the domestic market and exports are being pursued to achieve greater capacity utilization of the PVC plant.

The outlook for the second half of the year appears better due to an improvement in domestic demand and some export of urea. Further the significant strengthening of international urea prices has made it possible to pass through the more recent gas price increase.

The longer tems prospects of the industry also look promising as the present government seems keen to reintroduce a fertilizer policy that will help both the privatization of public sector units and encourage new investments by private sector to expand capacity. We welcome the consultative process adopted by the government and look forward to development of a pragmatic fertilizer policy in the near future which will stimulate this vital industry sector of Pakistan.

The board of directors after a thorough review of the business results decided to declare an interim dividend of Rs. 2.00 per share. In spite of reduced first half profitability, the directors decided to maintain the dividend at the same level as last year due to the availability of reserves. The Company is conscious of the challenges it is facing and is committed to bring about operational and financial efficiencies to improve it’s profitability.


Karachi Sheraton Hotel and Towers is all set to present their annual art and culture festival — ArtFest, which is scheduled to take place from August 21-October 21, 2000. The event is once again sponsored by the Standard Chartered Bank with the Dawn Group of Newspapers being the official media sponsor. An official ArtFest website has also been launched sponsored by Cybernet, highlighting all the events in the festival this year. Promising to be a bigger event than previous years, ArtFest 2000 offers a fabulous selection of local and international events in the field of art, theatre, dance, fashion, films, music and food.

Karachi Sheraton’s prime objective through ArtFest is to raise sufficient funds to assist deserving students who have ample talent but no financial resources to explore their talent. Simultaneously, ArtFest also provides a platform for performing artists and fine artists to promote themselves to the audiences of Karachi.

The events being held in the ArtFest are very diverse and offer something for people belonging to all age groups. The popular art exhibition titled Urban Voices is going to be on throughout the ArtFest, giving an opportunity to all upcoming artists belonging to different art schools of Karachi. A children’s painting competition has also been arranged, running throughout Arffest, for children who want to start young.

For the food connoisseurs, Karachi Sheraton is proud to offer three different food and cultural festivals from Balochistan, Turkey and Singapore. Special dancing groups and musicians are being flown in from their respective regions. The chefs are also being flown in especially from these countries to prepare authentic cuisine for the food lovers of Karachi.

State life from strength to strength:

The role of Life Insurance in today’s society can hardly be over emphasized. At the individual level it provides financial protection to the family unit and at the national level, it helps to generate funds for development projects. Unlike the earlier days when the concept was not clear to general masses and there were suspicions about life insurance, such fog has considerably cleared and life insurance has come to take the form of an industry.

In Pakistan, Life Insurance remained under private sector till nationalization in 1972, when State Life was established by merging 32 private companies. Since then it has gone through various phases of development. Presently the basic structure of the corporation comprises a Principal Office, four Regional Offices and twenty six Zonal Offices. On the Group & Pension side there are 5 zones operating throughout Pakistan including newly created health zone. These zonal offices are entrusted with the most important function, i.e. marketing of life insurance policies and the policyholders’ services. Regional Offices are headed by Regional Chiefs who lead and guide marketing teams in their respective group of zones in the regions. The Principal Office, based at Karachi, is responsible for key functions, such as Marketing, Investment, Real Estate, Actuarial, International Division, Advertising & Sales Promotion, besides overall strategic control and direction to the Regions and zones.

State Life is effectively providing life insurance cover to cater to individual needs of the country’s populace through an organized and professionally trained field force, comprising several thousand field workers and field supervisors. The policies issued by the Stale Life are backed by the Life Fund exceeding Rs. 64 billion at the end of April 2000. In addition, all individual life insurance policies are guaranteed by the Government of Pakistan. State Life’s performance both in individual life and Group and Pension, has been characterized by exemplary growth, that was brought about by the concerned efforts of its dedicated employees and members for its dynamic field force, under the guidance of a top management comprising men with a vision and wisdom

State Life offers a large number of plans for the benefits of Pakistani families. These plans meet varied requirements by providing financial protection against odds and at the same time helps to generate savings for future needs, like education and marriages of children, mortgage redemption, old age and related requirements. Some of the popular plans State Life offers are Jeevan Sathi, Shadabad, Child Education and Marriage Plan, Child Protection Policy, Three Payment Plan, Endowment Plan, Sunehri Policy and Shehnai Policy.

Some of the plans offered by the corporation have been very popular. Our valiant field force are trained to analyze the financial needs of the prospective buyers and then suggest such plans that meets their needs most favourably. They also keep in view the premium paying capacity of the policyholders, as this determines its continuity which is of key importance to the policyholders and the corporation.

The performance of the corporation during the first quarter of 2000 states that the premium income from life insurance business within Pakistan which consist of First Year, renewal premium and group premium is estimated at Rs. 1.62 billion, while the total premium income stood to Rs. 1.66 billion during April 2000. The total income of the Corporation stood at Rs. 4.49 billion and the book value of investment portfolio at Rs. 7.62 billion by the end of April 2000. The International Division of State Life operates in the United Kingdom, UAE, the Kingdom of Saudi Arabia and Kuwait where it is engaged in providing financial protection and savings to the Pakistani expatriates and the policies issued by State Life are convertible to US $ and Pak Rupee. The premium income in rupee terms from these operations was Rs. 40 million by the end of April 2000.

State Life is one of the biggest Real Estate owners in the country. The corporation has more than 50 commercial buildings in almost ail important cities; including a good number of residential units and plots throughout the country having rentable office space of 34 lac square feet. To quote some of our landmark achievements in real estate development. State Life constructed Rawalpindi’s tallest building in 1978-81. State Life built prominent buildings at Karachi, Lahore, Islamabad, Hyderabad, Peshawar and Multan. In fact we have plans to construct elegant buildings at all district headquarters of the country. State Life has also planned to construct a building in Quetta for its own offices. Construction is in final stages for a 13-storey building at Faisalabad. Other projects under construction include phase two of State Life building, Hyderabad as well as State Life Buildings at Mirpurkhas, Larkana, Gujrat and Dera Ismail Khan. At the end of the year 1999 the net investment in Real Estate was Rs. 2800 million.

Every year, thousands of new sales representatives also known as agents are inducted into the field force, provided basic training and deployed in the field to provide financial protection to thousands of new policyholders who qualify for life insurance on the basis of needs, paying capacity and health standards. Thus, State Life is a major source of combating unemployment in the country, specially among the educated youth, willing to make very profitable and lasting careers in selling. The corporation is committed to elevate poverty by way of providing gainful employment to educated youth including men and women, through recruitment of field force. Moreover, State Life distributes 97.5% as payment to policyholders, during 1999 the corporation paid Rs. 41.67 million as death and Rs. 68.27 million as maturity claims and the rest 2.5% is invested in the Government's Economic development projects. It looks forward to rise above to meet the challenges of life insurance in the country.


The "Book Signing Session" of "Interest Free Islamic Banking & Modern Banking System" by prominent banking lawyer & economist, Mr. Saalim Salam Ansari, Advocate, was held recently at a local hotel at Karachi "The book containing 22 chapters and 8 appendixes, the book explicitly discusses about (30) thirty different methods and modes of interest free banking, the book on the topic of "Riba","non interest financing" and "Interest free Banking" is in fact a research thesis and study paper, which has been compiled and published in shape of a book, and easily understandable for a common reader, the instant book has contributed a comparative analysis of Islamic and modern banking system, highlighting impact of interest free banking on the national economy," Mr. Saalim Salam Ansari told the audience at the book signing session.

Mr. Saalim Ansari also mentioned experimentation of interest free banking done in their respective manners by Iran, Kuwait, Saudi Arabia, Sudan, Malaysia, Luxembourg, Egypt, China, Canada and the USA, the history of modern banking system, pre-lslam interest- based financing and interest system’s opposed by Plato, Aristotle, Lord Canes and Karl Marx is also described in his book. Opposition of the interest in old testament of Holy Bible has also been illustrated in it. Mr Saalim Ansari has said that there are 10 verses of Holy Quran related to Surrah Al-Rum,Surrah Al-Nisa,Surrah Al-lmran and Surrah Al-Baqrah and15 traditions of Holy Prophet Hazrat Muhammad (Peace be Upon Him) according to which "interest" or "Riba" is prohibited in the Islamic teachings.

Mr Saalim Ansari also defines about Mudarabah, Musharakah, Leasing, (Ijara), Bai -Salam, Bai-Muajjal, Istisna (Pre-production sale), Muzaraah, Musaqah, Agency, Service charges, Qarz-i-Hassana, Buy-Back Agreement (subject to certain conditions), Hire-purchase (Ijra), Sale on installments, Developmental charges, Equity participation, Rental sharing, Sale and purchase of shares in such companies which have tangible assets. Purchase of trade bills, Financing through Auqaf, Charge Card System, "Hawalah" or "Kafalah", Trade of shares on Portfolio Management’s System, Commission, Profit and loss sharing accounts, Current accounts, Travelers cheques, Non Interest Mutual funds, Shirkat-e-Inan and Bai-Eenia the 30 modes of interest free banking or non-interest financing, enforced in more than 40 countries, Ansari disclosed that 200 financial institutions are working at present on interest free banking system throughout the world.

Mr. Ansari told the audience that his book contains religious decrees (Fatwas) of Hazrat Imam Abu Hanifa, Hazrat Imam Abu Muhammad, Hazrat Imam Abu Yousaf, Ahmed, Al-Hazart Imam Raza Khan Barelvi and Mufti - e Azam Egypt Shaikh Nasar Fareed Wasal as well as concept of conversion of interest-based foreign loans into interest-free finances, the judgement of Supreme Court of Pakistan on the "Riba" announced on December 23, 1999 reported as PLD 2000 SC 225 has also been analysis in his book.

Mr. Ansari said that he is a firm believer that by adopting the "non interest banking system" or "interest free financing system", the inflation rate can be reduced and equalizer rate can be declined to the tune of 4% to 9% per annum which is at present 16% to 19% per annum, the adoption of the interest free banking system is among one of the eight modes which Mr. Ansari proposed for economical rehabilitation of Pakistan, the plan which is known as "Ansari’s (8) eight points economical revival plan", the silent features of eight modes of Ansari’s economical revival plan are: (1) Rescheduling of foreign debts with "Moratorium" of 3 years or "voluntary default", (2) Nationai Tax Card Scheme & Taxation Reforms, (3) Revival of 5000 sick industries through 24 points industrial revival plan (Estimated results = New jobs for 50 Lac Persons and Increase in Exports of Pak Rs.2500 billions.), (4) Scientific & Transparent privatization for 50 billions US Dollars instead of 15 billions US Dollars on 2300 billions Pak rupees can be earned through comprehensive scientific privatisation in Pakistan,which known as "Saalim Ansari’s Privatization plan"(5), Interest free Islamic Banking by adopting 30 modes that (Resulting Mark-up rates will be decreased from 16% to 19% P.A. to 4% to 9% p.a), (6) 95% Literacy rate within 10 years and one educational system, (7) Nationalization of gold (Estimated income from 4500 metric tons gold = 52 billions US Dollars or 2600 billions Pak Rupees) and (8) Population growth rate will be 1% in 10 years instead of 3% p.a.

The book has been published by the Pakistan Institute of Banking Studies, Karachi.

E-Business Solutions Advance With Microsoft, Intel and Lycos:

Microsoft Corp., Intel Corp. and Lycos Inc. announced that Microsoft and Intel have been selected to provide the primary technology platform for the Lycos Network. The Lycos Network is one of the leading Internet hubs, reaching a nearly half of all U.S. Web users. The combination of Microsoft software and Intel-based servers will deliver a significant performance upgrade, increased scalability and greater reliability to the Lycos Network which is accessed by more than 32 million Lycos customers monthly. This includes the www.lycos.com and the my.lycos.com portals. In addition, the technology provided by Microsoft and Intel will help Lycos to achieve aggressive new product implementations and realize rapid time-to-market objectives.

Microsoft and Intel additionally announced an E-Business alliance, working together to deliver joint customers, best of class, end-to-end E-Business solutions as well as offering integration and services to E-Businesses such as Lycos. "Lycos selected Microsoft and Intel technology, not only because they deliver a rich user experience and help us meet our aggressive goals with new-product implementation, but also because their E-Business solution makes economic sense, both in terms of capital expense and operating expense," said Tim Wright, CIO at Lycos. "We’re looking forward to continuing our relationship with Microsoft and Intel, utilizing their E-Business solutions to help us deliver industry-leading services to our customers."

The Microsoft and Intel technology-based implementation, already in progress, covers a majority of the Lycos Network sites, including the popular www.lycos.com portal. Lycos is utilizing the enterprise-ready platform featuring Intel Pentium® III and Pentium® III Xeon* processors, and the Microsoft Windows® 2000 operating system, as well as the soon-to-be released Microsoft Application Center 2000, to meet the performance and availability demands of its expanding Internet communities and services. The Microsoft and Intel e-Business solution for Lycos utilized development and deployment assistance by Microsoft Consulting Services (MCS) and ongoing support through Microsoft Premier Support Services (PSS) throughout the implementation cycle.

"We are excited to work with Intel to provide a solution that helps Lycos meet the increasing scalability and performance demands that its customers require in this next phase of the Internet," said Peter Boit, Vice President of E-Commerce solutions for Microsoft. "Microsoft is delivering an e-Business platform that helps businesses realize growth and profitability today, while preparing for the .NET software services of tomorrow."

"The collaboration between Intel and Microsoft offers our customers a flexible e-Business architecture to accelerate their time to deployment with new Internet services," said Mike Fister, Vice President and General Manager of the Enterprise Platform Group at Intel. "Lycos is a great example of a company that has taken full advantage of the modular ‘scale-out’ methodology that makes Intel-based servers a scalable and reliable platform for today’s unpredictable Internet economy."

By adopting the Windows 2000 platform for its next-generation Web services, Lycos is also enabling a rich XML environment in its Web solutions. The XML-based infrastructure will help Lycos integrate easy information exchange within the heterogeneous Lycos network, while this XML foundation, which forms the very core of Windows 2000 and the .NET enterprise framework, will also help Lycos capitalize on .NET opportunities with software and services as they become available.

Intel-based servers are increasingly powering the rapidly growing server infrastructure of the worldwide Internet economy, including some of the largest Web sites in the world. Intel has established a business group and designated more than $100 million for developing solution centers; design, certification and integration programs; industry initiatives; and e-Business alliances to help drive Internet growth and evolution. Intel Architecture delivers an open, high-performing and reliable e-Business platform powered by both Intel Pentium III Pentium III Xeon processors and the forthcoming Intel® Itanium(TM) processor. All processors includes unique server design technology and a variety of frequency speeds, memory and cache levels that work with a choice of operating and application environments.

Intel Architecture affordably and reliably addresses the needs of e-Businesses, which include quickly adding more Internet or Web servers to their server infrastructure (scaling out) and adding processors within a server for application and database or the back end of the datacenter (scaling up). Intel, the world’s largest chipmaker, is also a leading manufacturer of computer, networking and communications products. Additional information is available at www.intel.com/pressroom.

Euromoney declares Muslim Commercial Bank as the "Best Domestic Bank in Pakistan"

Euromoney, one of the best financial magazines in the world, has declared Muslim Commercial Bank as the "Best Domestic Bank in Pakistan." The Euromoney Awards for Excellence 2000, published in the magazine’s July issue, choose Banks worldwide for excellence in their field.

Privatized in 1991, Muslim Commercial Bank is the largest private sector Bank in the country. The Banks post-privatization performance is exemplary with deposits and advances rising by over 300%. The Bank’s 1999 results portrayed a jump in profits of 45% to Rs. 569 million.

For the year 2000, Mr. Aftab Manzoor, President and Chief Executive, said that "we hope to maintain the same momentum and estimate a 25% increase in profits. This will be achieved primarily through an increase in our market share and reduction in intermediation costs. At the same time the Bank is focusing on consumer products and will support the goverment’s policies for Small and Medium Enterprises."

The Bank’s two leading consumer products are ATMs and Rupee Travelers Cheques. MCB ATM cardholders touched the 100,000 mark, the highest for any Bank in Pakistan. The MCB ATM network has grown from one city in 1990 to covering 11 cities with 80 ATM machines. This year the card has also been connected globally in partnership with MasterCard International.

A strategic decision has also been initiated to establish an ATM switch called MNET. Four foreign banks have already signed agreements with MCB to utilize the 24 hour, 365 days service provided by the Bank. In addition, MCB plans to make substantial investment in technology to further enhance its service levels and cater to the future e-banking needs of its customers.

The sale of MCB Rupee Travelers Cheques grew by 45 per cent to Rs. 100 billion in 1999. This volume is double the amount sold by all other Banks in Pakistan. Three foreign banks, ABN Amro Bank, Faysal Bank, and Gulf Commercial Bank also sell the product through their branches.

MCB, with a healthier balance sheet, an efficient cost structure and a well-established brand name is ready to address future challenges, to progress towards the achievement of the Bank’s vision of being the premier quality provider of financial services in the country and to maintain it’s position of being the "Best Domestic Bank in Pakistan."

Flag hoisting ceremony at mcb main branch I.I. Chundrigar road Karachi

A simple and impressive Flag Hoisting ceremony held at MCB, Mr. Aftab Manzoor, President, MCB hoisted the National Flag. All members of MCB Team sang the National Anthem along with the Nation.

Photo taken on the occasion shows Mr. Aftab Manzoor, President MCB performing the flag hoisting ceremony. Among others prominent are: Mr. Haroon Basheer, Head of Consumer Banking Group/IT, Mr. Hanif Khan, Area Head Corporate Karachi, Mr. Shoaib Qureshi, Head of Commercial Banking Group, Mr. M.U.A. Usmani, Head of Treasury.

Lunch in honor of Senior Journalists: To celebrate MCB being declared ‘Best Domestic Bank in Pakistan’ by Euromoney, Mr. Aftab Manzoor, President - Muslim Commercial Bank hosted a lunch for Senior Journalists. Photograph taken on the occasion in the center Mr. Aftab Manzoor, President - MCB & Haroon Basheer, Head of Consumer Banking/IT/Overseas Operations/Training - MCB, Sultan A. Khan Arshad Zuberi, Ilyas Shakir, Mukhtar Akil, Sajjad Mir, Mehmood Sham, Kazi Asad Abid, S.M. Fazal, Farooq Moin, Abdul Qadir Qureshi, Salahuddin Hussain and others.

LUMS IT Growth

Lahore University of Management Sciences (LUMS), has recently received a donation of A Sun Lab from Sun Microsystems Inc. U.S.A through the courtesy of Mr. Masood Jabbar, President of Sun Microsystems Inc. U.S.A.

A a result of continued growth in LUMS IT related and Computer Science programmes, a need was felt to significantly upgrade the computing facilities being provided to LUMS students. As a result, The Java Development Center came into existence due primarily to the continuous efforts of Pakistan Technologies (Pvt.) Ltd., the authorized Sun partner in Pakistan.

The Center was inaugurated on July 14, by Mr. Justice Khalil-ur-Rehman Ramday, Member, Board of Trustees of LUMS. Among those who attended were Mr Razak Dawood, Minister of Commerce, Industries and Production, who is also the Rector of LUMS, Mian Altaf Saleem, Chairman, Privatization Commission, Mr. Shahi Hussain, Chairman Servis Group of Companies and Lt Gen (Retd) Mohamrnad Akram Khan, Vice Chancellor, UET.

LUMS was represented by Dr Wasim Azhar, Pro-Vice Chancellors and Dr Syed Zahoor Hassan, Dean of the Business School, while Sun was represented by Mr Iqtidar Zaidi (President, Pakistan Technologies) and Mr Amin-ul-Hafeez (Country Business Manager, Pakistan Technologies).

The Sun Lab is currently equipped with 16 Sun Ray-l Enterprise appliance, with 17" monitors and a Sun E-250 server with 2 Ultra Spare CPU's, 2 GB memory and 36.4 GB disk space.

The Sun Ray-1 requires no desktop management and has a Smalt Card for users to access their own session from anywhere in the workgroup.

The lab is aptly named JAVA Development Lab, a prospective hub for the development of Java based applications and software where the students of BSc and MSc would be educated and trained on the latest hot-desk technology from Sun -the Sun Ray 1 Enterprise Appliance.

The lab will provide an enormous impetus to the creative research projects of LUMS students who in a short span of four years have already established their credentials worldwide. Graduates of the LUMS B.Sc. & M.Sc Computer Science programs are getting admitted into the top universities in the world like Stanford, Carnegie-Mell on and Cambridge and are also getting offers from High -Tech firms in US and Europe.

Microsoft and GOP Hold Fruitful Discussions

Microsoft, the world's leading personal and business software provider, and the Government of Pakistan, recently had a very fruitful meeting in Islamabad, to discuss ways and means to jumpstart the local IT industry.

The first meeting in this regard was held in Islamabad between the officials of the Ministry of Science and Technology, led by Prof. Dr. Atta-Ur-Rahman, the Federal Minister for Science and Technology and senior executives of Microsoft Corporation.

Contrary to what has been recently reported in some sections of the press, the meeting was successful, as both parties underlined the necessity for protection of Intellectual Property Rights (IPRs) as an essential prerequisite for any meaningful investment, either local or foreign, in Pakistan's IT industry.

Dr. Atta-Ur-Rahman's team also gave its solid commitment for the respect and implementation of IPRs in Pakistan, which would be vital for the growth of the local IT industry.

Commenting on his meeting with the GOP team, Jawwad Rehman, Business Development Manager, Microsoft Pakistan, said, "This was the first of several meetings with the Government of Pakistan. We are very optimistic about the successful outcome of these discussions, as there is a commonality of purpose and we look forward to a strategic partnership with GOP, since both GOP and Microsoft are committed to the rapid development of the local IT industry".

Founded in 1975, Microsoft is the worldwide leader in software for personal and business computing. The company offers a wide range of products and services designed to empower people through great software — any time, any place and on any device.

Lucky Wall's customers

Wall's announced the names of 300 lucky Wall's Customers who had participated in the Wall's Umra Mubarak Scheme at a Lucky Draw ceremony held at a local hotel here on August 15, 2000.

Wall's ice cream evolves attractive incentive schemes from time to time to show appreciation and recognition to its customers. In contribution of these efforts, this year Wall's launched 'Umra Mubarak' Scheme for its customers in the South Region. The scheme offered two free return air tickets to Jeddah and many other attractive prizes including branded wall clocks and cricket bats. Retailers purchasing stocks worth a minimum of Rs. 2000/- were entitled to a lucky draw coupon.

Like previous trade promotions, Wall's Umra Mubarak Scheme also generated grew excitement among the Wall's customers. Name of the lucky winner who is entitled to 2 Umra Returns Tickets is

M/s. Shalimar Bakery from R-Code 1060, Karachi

M/s. AI-Madina Bakery from R-Code 1451, Karachi

Speaking to a large gathering of journalists, Mr. Henk Hermsen, Director Wall's Ice Cream, said "Walls delights its consumers with its quality, variety of flavors and affordable prize." Explaining the strategic advantage Wall's has over its competitors, Mr. Henk Hermsen said: "Quality is the key. Wall's provides consumers international quality Ice Cream, which they can consume without any fear of getting sick."

Also speaking on the occasion, Sheikh Ijaz Ahmed (General Customer Manager) said that "Wall's strives to be recognized by its customers as the foremost supplier of ice cream in all channels by satisfying the consumer better than competitors and achieving excellence in Customer Management."

* Other lucky retailers are receiving their gifts via Wall's sales force. The complete list of winners is available with Wall's Ice Cream office.

ANZ Grindlays Bank to set ATM at McDonald’s:

McDonald’s, the world’s leading and fastest growing food chain and ANZ Grindlays Bank signed an agreement to setup ANZ Grindlays 24 hour ATM facility at McDonald’s, Golden Gate, North Nazimabad Branch. The signatories for the agreement were Amin Mohammad Lakhani, President / CEO, SIZA Foods (Pvt.) Ltd and Abid Sattar, Head, Personal Financial Services, ANZ Grindlays Bank. This agreement further endorses the two institutions’ common objective and sincere commitment to the society, to continue providing their customers with the best possible service. The ATM at Golden Gate not only furnishes the patrons of McDonalds’s with an additional facility but basically serves the entire area. It is for certain that McDonald’s which is renowned for its community services and ANZ Grindlays Bank who are reputed for their customer care are going to pursue similar projects in the future.

Also present during the signing ceremony from McDonald’s were: Jamil Mughal, Manager Real Estate Development; Andrew McCulloch, Operations Manager and Farhan Khalid, Asst. Manager Real Estate Development. The representatives of ANZ Grindlays Bank present at the signing ceremony were: Hasnain Khoja, Head, Card Services; Asad A. Batla, Manager Marketing; Tooran Asif, Manager Marketing Cards; Rahid Sami, National Sales Manager, Cards; Aasim Akhtar, Area Sales Manager, Personal Financial Services and Maryam Jaafar, Assistant Manager Marketing.