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Jan 15 - 21, 2001

MSCL launches IBM IT Education Services Program in Pakistan

Millennium Systems & Consultants (Pvt.) Ltd. (MSCL) in partnership with IBM has launched the IBM Advanced Career Education (ACE) Services for the first time in Pakistan. The key features of this program were revealed at a seminar at a local hotel recently.

Speaking on the occasion Managing Director and CEO MSCL Sheikh Nisar Ahmed said MSCL recognised the importance of quality IT education for Pakistan and was keen to contribute towards achieving goals defined in the national IT policy. To this end, MSCL entered into partnership with IBM to bring tremendous benefits to Pakistani students offered by the IBM ACE program.

Mr. Nisar said its nine curricula offered courses viz Basic IT, Programming Core, C++Professional, Java Professional, e-business-Solution Training, AS/400 Professional, System and Network Administration for Windows NT, Windows 2000, Linux environments and Netizen 2000 (PC Users) Curriculum.

Sheikh Nisar added: "On completion of each curriculum course students' skills will be tested through IBM designed tests. Successful candidates will receive the prestigious IBM Certification which would be the first by IBM in the country."

Sheikh Nisar was confident that by completing the course at the IBM ACE Center students will be able to develop their IT skills and confidence that can take them to the pinnacle of their careers no matter which part of the world they operated in.

IBM Country Manager Mr. Humayun Bashir Khan highlighted the key elements of the MSCL-IBM partnership in this program stating that MSCL has brought this sophisticated IBM ACE Program developed in association with some of the most reputed names in IT education to Pakistan for the first time.

MSCL is an IT solution provider managed by highly skilled professionals who have excelled in performance on complex IT projects to deliver cost effective, quality solutions to the clients.

Partnership with IBM reflects the high standards MSCL will maintain in providing well equipped classrooms, high quality, experienced and well trained faculty, up- to- date course material and other facilities.

Following the launch, students, IT professionals and others interested in the ACE Program were able to obtain brochures, or any other information from the stalls set up at the launch venue.

The seminar was attended by a large number of students, IT professionals from major corporations, institutions and academicians.

Karachi Sheraton's new Deputy Finance Director

Mr. Islam A. Khan has recently joined the Karachi Sheraton Hotel & Towers as the Deputy Director of Finance. In this capacity, Mr. Khan will be responsible for the smooth financial communications, budgeting and forecasting functions by all departments at Karachi Sheraton. Making best use of his extensive experience, Mr. Khan will also be responsible for the training, supervision and evaluation of the accounting staff, participate in the planning and forecasting functions of the hotel and assisting the Director Finance/Controller to fulfil all the pertinent requirements of the department.

An aggressive and highly professional individual, Mr. Islam A. Khan brings with him several years of intense experience in various disciplines of finance and accounting to the Karachi Sheraton. Having been internationally trained in auditing, Mr. Islam holds an extensive knowledge and understanding in all the multi-dimensional aspects of finance. His last assignment, before joining the Karachi Sheraton, was as Assistant Manager, Sidat Hyder Qamar & Co. He is also an Associate member of the Institute of Chartered Accountants of Pakistan.

First Women Bank performed Well in 2000

First Women Bank Limited despite all constraints and uncertainty, resultant of its legally disputed privatization has performed remarkably well during the year 2000. Its pretax profit has gone up by 45.8% (Rs. 32 million) against last year figure of Rs. 21.743 million. Its deposits figure has touched the level of Rs. 3.391 billion. Thus showing a rise of 40% over the last year figure. The Credit disbursed to Private sector shows a rise of 33.5% over the last year figure. Prior to close of the year, the Board of Directos in their 60th meeting has approved 25% increase in gross emoluments of the entire regular staff in view of anticipated good financial results hence entire staff of the Bank stand highly motivated.

SZABIST Student Tops in Ministry of Science and Technology National Scholarship Exam

S.M Ghazanfar Monir, (Seat No. 1183502) Masters students of Computer Sicences at Shaheed Zulfikar Ali Bhutto Institute of Science and Technology (SZABIST), secured the First position in the Ministry of Science and Technology (MoST) National Scholarship Exam. The scholarship covers tuition fee at rate of Rs. 7000/- per month.

Thousands of students appeared in the scholarship examination from universities all over Pakistan. Dr. Javaid Leghari, Project Director SZABIST congratulated the successful student and wished that SZABIST students will continue to give their best performance in years to come.

Trading in GlaxoSmithKline Shares begins

The merger of GlaxoWellcome and SmithKline Beecham to form GlaxoSmithKline p.l.c. was approved by the European Commission in May and the United States Federal Trade Commission in December 2000. The Board of Directors of GlaxoSmithKline p.l.c. (GSK) took great pleasure in confirming that trading in the shares and ADR's of GlaxoSmithKline p.l.c. started on the 27th of December on the London and New York Stock Exchanges respectively.

Jean-Pierre Garnier, Chief Executive Officer of GlaxoSmithKline p.l.c. UK said "GlaxoSmithKline is well placed to respond to the healthcare challenges of the twenty-first century. We have a broad product portfolio that spans pharmaceutical and consumer healthcare products, and we hold leadership positions in many of the major therapeutic categories. My ambition is for all employees at GSK to be united in a simple, single-minded quest to improve the quality of human life by enabling people to do more, feel better and live longer".

"GlaxoSmithKline has a powerful research and development capability, encompassing the application of genetics, genomics and other leading edge technologies," added Sir Richard Sykes, Non-Executive Chairman. "The new company will have an estimated R&D budget of approximately £ 2.3 billion per annum, and a total of 25 new chemical entities and 17 vaccines in clinical development."

GlaxoSmithKline p.l.c. will have its Corporate headquarters in the UK at a new development currently under construction in Brentford, Middlesex. The US operations are divided between Franklin Plaza in Philadelphia and Research Triangle Park in North Carolina.

Within Pakistan GlaxoSmithKline has headquarters for its pharmaceuticals and consumer healthcare businesses at Karachi. In a statement, Salman Burney the designated head of GlaxoSmithKline Pakistan, said: "Now that GlaxoSmithKline formally exists, we can begin the process of considering various options for the integration of GSK business in Pakistan. We have a lot to do, but we are looking forward to taking advantage of the tremendous opportunities created by the merger."

Worldwide, GlaxoSmithKline is a market leader in four of the five largest therapeutic categories in the pharmaceutical industry — anti-infectives, central nervous system, respiratory, and gastro-intestinal/metabolic — and holds a leading position in the vaccines' market. The company also has a strong international presence in consumer healthcare and over-the-counter medicines.

To back this up GSK has one of the largest sales and marketing operations in the global pharmaceutical industry, with approximately 43,000 sales and marketing personnel globally, including approximately 8,000 sales representatives in the US alone.

"Thus it can be seen that GSK is a truly global organisation with a wide geographic spread and a very strong presence in the important US market," commented Jean-Pierre Garnier.

The corporate identity for GlaxoSmithKline, and the new external corporate website, GSK.com, was launched on Monday 8th January 2001.

GlaxoSmithKline — one of the world's leading research-based pharmaceutical and healthcare companies — is committed to improving the quality of human life by enabling people to do more, feel better and live longer.

"Extended PC Era"

As the opening speaker at the 2001 Consumer Electronics Show, Intel Corporation President and CEO Craig Barrett will introduce the "Extended PC Era," setting the stage for a future in which more consumer products go digital and interconnect with powerful home PCs.

"The PC is at the center of the digital universe and the universe is expanding," Barrett said, adding that in the near future one billion PCs will be connected to the Internet. "In the Extended PC Era, the combination of powerful and versatile Intel® Pentium® 4 processor-based PCs and a vast array of digital products will help consumers use their home PCs and the Internet in new, exciting ways. This emerging consumer scenario is what we call PCX - the PC to the power of X."

Pentium 4 Processor is the Center of the Extended PC Era: To illustrate how consumers can fully realize the benefits of the Extended PC, Barrett will showcase demonstrations on Intel Pentium 4 processor-based PCs. Using digital cameras, toys, camcorders, books, personal audio products and PDAs, he will display how mainstream digital gadgets deliver their full value when linked to a powerful PC.

Barrett will also demonstrate how the power of the Pentium 4 processor can save time for consumers who enjoy ripping music tracks, processing images, editing their own home digital movies, and interacting with 3D environments — all examples of applications that can be customized to a customer's interests and hobbies.

"As digital consumer devices evolve, they will migrate toward more of the PC's capabilities and blend into the PC environment, enhancing and extending the home PC," Barrett said. "In the Extended PC Era, the home PC will be tasked to do even more and consumers will be at the center of their own Internet experiences."

The PC will deliver Internet video and audio throughout the home, while at the same time adding value to digital consumer products that take advantage of its unrivaled ability to edit, manage, store and share content in and around the home.

"As the most powerful microprocessor for desktop computing, the Pentium 4 processor-based PC is ideally suited to be at the center of the Extended PC Era today and in the future," Barrett said.

New Consumer Experiences in the Extended PC Era: Barrett will preview product concepts for the home that include a cellular phone-based personal digital assistant (PDA) and a wireless Web tablet. One demonstration will include a Pentium 4 processor-based PC that can automatically synchronize voice mail and e-mail with a cellular phone-based PDA. Barrett will explain that such devices and powerful PCs will continue to converge and complement each other in the Extended PC Era.

In a "telewebbing" presentation, Barrett will use a wireless Web tablet linked to a home PC to purchase a Formula One hat online while watching an auto race on television. Such a device is capable of working smoothly even when another person is surfing the Internet on the host home PC.

Barrett will also demonstrate a "media appliance" concept. With it, entertainment media such as digital scrapbooks, digital audio files, home movies and DVDs, can be delivered from the home PC to any television and home theater device within a house.

In a display of peer-to-peer computing, a Pentium 4 processor-based home PC will be used for personal broadcasting of video and digital images.

Representing the Internet generation, three teenagers from the Intel Computer Clubhouse Network will screen their own home digital movie produced on an Intel Pentium 4 processor-based PC. The Intel Computer Clubhouse Network provides young people access to technology and helps develop technology skills that open opportunities, encourage self confidence and foster creativity.

Intel Retail Support in 2001: Pledging Intel's support, Barrett will encourage retailers to be a consumer destination for the Extended PC.

"Intel will offer a great product line that starts with Intel Pentium 4 processor-based systems and a growing line of Intel-branded consumer products supported by new television ads, Web-based marketing and the Intel Inside® program," he said.

Intel Booth at CES: Under its "Out of the Blue" theme, Intel's CES booth will feature 7,000 square feet of new consumer products and technologies that extend the power of the PC and the Internet. The multi-leveled booth, number 4535 in the North Hall, will have a retail area showcasing the Intel® AnyPoint™ Wireless Home Network, Intel® Pocket Concert™ Audio Player, Intel® Pocket PC Camera, Intel® Wireless Series family of PC peripherals, and Intel® play™ line of PC-enhanced toys. The power of the Pentium 4 processor will be showcased in another area within the exhibit.

The booth will also focus on the latest consumer technology. In the Internet area, Intel will showcase the Intel® Dot.Station Web appliance and technology demonstrations of the wireless Web tablet and a wireless chat pad. Other technology areas include digital media, Bluetooth™ wireless communication, and gaming and sharing where Intel will demonstrate peer-to-peer computing applications.

About Intel: Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available www.intel.com/pressroom.

Karachi High School hosts ISEO 2001

Karachi High School is hosting the second Inter School Educational Olympiad sponsored by Intel Pakistan Corporation & co-sponsored by Pepsodent, from the 8th to the 14th of January 2001. Over 100 prominent schools from Pakistan and abroad are participating in this grand educational event.

ISEO 2001 comprises of informative and learning events such as the Debate, Quiz, CyberFair, Model Display, Robotics Exhibition, and Art Competition — All of which are designed to encourage an exchange of ideas and knowledge. Debjani Ghosh, Head of Education Program Intel Technology was the keynote speaker and presented on 'Incorporating Internet into Education'. The special Chief Guests for the ISEO 2001 are; Amarjyot Sing Bedi, Carlyle Mc Farland and Sadhna Choramani from City Montessori School who have specially flown in from Lucknow, India.

"Our aim has always been to impart education in such a way that the children themselves want to seek knowledge. ISEO 2001 is part of our continued efforts to bring all the schools under one umbrella and create a healthy atmosphere of fun & competition", said Parveen Kassim, Founding Member & Principal, Karachi High School.

According to Kamil F Hasan, Area Sales Manager & Country Head, Intel Pakistan Corporation, "Intel realizes the importance of efforts such as the one taken by KHS and fully supports these healthy activities which enable students to think beyond existing theories and standards, and present projects that explore new, creative ideas. "As one of the world's leading technology companies, Intel is deeply committed to science, math and technology education", he further added.

The co-Sponsor of the event, Pepsodent also applauded the efforts taken by KHS to give young people a platform to compete in a healthy environment in subjects related to their everyday education and surroundings.

The first Inter School Educational Olympiad, ISEO 2000, initiated and organized by Karachi High School had participation from 50 leading schools of Pakistan. ISEO is an effort to mobilize youth from all over Pakistan & outside of Pakistan into creative activity, which will benefit humanity at large. After the grand success of the first Olympiad, KHS has decided to turn ISEO into an annual international event.

KHS, founded in 1985, is a co-education institute with about 750 students. It follows both the Matric and the Cambridge systems of teaching with grades from Kindergarten to O'Levels. Founded with the aim to impart the best education, KHS has steadily been building on those very lines. The school has its own website: www.khs.edu.pk, which is constantly updated by both the students and the faculty members.

Rates of profit on PLS deposits for the half year ended december 31, 2000

S. No

Categories of Deposit

Rates to be declared for
July-December, 2000
per annum (%)


PLS Notice Deposits

7 days
30 days



PLS Savings Account



PLS Term Deposits

1 month & over
2 months & over
3 months & over
6 months & over
1 year & over
2 years & over
3 years & over
4 years & over
5 years & over



Savings 365 Gold

Rs. 10M to 25M
Rs. 25M to 50M
Rs. 50M to 100M
Rs. 100M to 250M
Rs. 250M & above



Rupee Maximizer Account



Maal-a-Maal Deposit Certificates

2 Months
4 Months
8 Months
12 Months



Other Deposit Schemes

PLS Savings — 365
Khushali Bachat Account
Khanum Bachat Scheme
Mahana Khushali Certificate
Capital Growth Certificate
Hajj Mubarak - 2 years
Hajj Mubarak - 3 years


PACRA assigns "AA" CPA rating to IGI

The Pakistan Credit Rating Agency (PACRA) has assigned a Claims Paying Ability (CPA) Rating of "AA" (double A) to International General Insurance (IGI) Company of Pakistan Limited. The rating denotes a very strong capacity to meet policyholder's obligations.

While assigning the rating, PACRA has recognized the very strong financial base and solvency margin of the company, both being substantially higher than peers. These reflect the inherently strong ability to meet policyholder's obligations despite a difficult operating environment. The stable nature of revenue from the company's core business coupled with a very strong investment portfolio and conservative risk management policies provide added comfort for policyholders.

Cherry Blossom Boys

Reckitt Benckiser pioneered a new concept in shoe polishing by introducing a team of "Cherry Blossom Boys", who offer free shoe shine to office goers throughout the day. These boys are located at different strategic centres of the city — prominent among these are I.I. Chundrigar Road, and Saddar. The Cherry Blossom Shoe Shine Boys will also be visiting Defence, Clifton, Gulshan-e-Iqbal, Gulistan-e-Jauhar, North Nazimabad from next week.

MCB-Rupee traveller cheques sales over Rs. 152 billion in the year 2000

Muslim Commercial Bank recorded an unprecedented increase of 56% in the sale of Rupee Traveler Cheques during the calendar year 2000.

Disclosing this, Mr. Fida Ali Zabz Ali, EVP and Divisional Head of RTC said that the sale of RTCs in 12 months of year 2000 amounted to over Rs. 152 billion. During the same period in 1999, the sale was also a record Rs. 97 billion. This year 2000 sale of RTC also surpassed the target of Rs. 1.20 billion fixed by the MCB management.

As a result of this record sale of RTCs in the year 2000, Muslim Commercial Bank has retained its position as the undisputed market leaders for RTCs sale for the eighth year in a row in Pakistan. RTCs sale was carried out by 1018 designated branches of MCB and four other Banks in Pakistan i.e. Gulf Commercial Bank, AL Habib Bank, Faysal Bank and ABN Amro Bank.

During the year 2000, Mr. Fida Ali Zabz Ali added, Muslim Commercial Bank, also pioneered the installation of Tele-verification System of RTCs in Karachi, Lahore and ten other major cities of Pakistan, in order to safeguard the interests of its customers. This Tele-verification System is one of the most modern system in the country and gives the latest information about the lost or stolen RTCs on a 24 hours basis via telephone or fax.

Mr. Fida Ali has thanked the MCB RTC customers for the confidence they have reposed in MCB through transaction of their RTC business. MCB, it may be pointed out, was declared by the leading International Magazine "Euromoney" in July last, as the "Best Domestic Bank in Pakistan".

MCB is the largest Private Bank in Pakistan and operates the biggest ATM Network in the country with ATMs at 80 locations with 118 On-line Branches in 13 cities all over Pakistan.