Techlogix has
emerged as a leading Pakistan origin software company since it was
founded by a group of MIT graduates in 1996. The hi-end applications
developed by Techlogix is used by a number of international blue-chip
companies as well as the government organisations in many parts of the
world. It also hold intellectual property rights for many softwares as
well as being a pioneer to develop many unique programmes.
INDONESIA
Pakistan and
Indonesia have agreed to set up a joint venture company to promote
bilateral trade between the two countries. Indonesian business also
aimed at making use of Karachi as a gateway of Indonesian products not
only for Pakistan but countries especially Central Asian
Countries.
Representatives of Pakistan and Indonesia business consortium signed
the Letter of Intent (LOI) for the establishment of the joint venture
Company.
HUBCO
Due to the length
of the dispute now entering its third year, HUBCO has decided to make
a provision of Rs13,445 million against all disputed or not recovered
amounts under the terms of the Power Purchase Agreement (PPA) in
accordance with international accounting standards. The provisioning
for bad debts have however wiped out the entire profits of the company
for the year ended June 30, 2000.
