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Oct 15 - 21, 2001

Fiat Uno diesel — The cars for today's market

By OMAR SAEED, Marketing Manager, Raja Motor Co. Ltd.

Fiat was founded on 11 July 1899 by a group of people with a passion for the very latest in engineering technology.

Fiat's World -renowned automotive technology is now available to Pakistani motorists for the first time.

Most recently Raja motors has joined hands with the world's most famous and popular European giants M/s Fiat Auto Spa Italy. Fiat is the 4th largest automobile company in the world, having more than 100-year of excellence in automotive manufacturing with total turnover of $ 52 billion per annum.

The Raja group of industry has been associated with the automotive business for more than fifty years and is the oldest company to venture into the automotive sector pertaining to transportation in Pakistan. The first group was founded in 1948, with initial capital of Rs 0.68 million since then it greatly prospered to large extend and has grown to become a house of ambitious enterprises.

The project is located at Landhi Industrial Area. This state-of-the art car assembly plant of Raja motor company Ltd., has latest Electro deposition painting technology.

The company is now leading to ever brighter future with establishment of its latest most modern plant in Karachi, Pakistan, developing Fiat Uno 1700cc diesel car. It is the newest entrant in the Pakistani market providing European advantages of toughness, economy, and greater safety with luxury.

The company is headed by Managing Director Mr Tariq Raja who is foreign qualified professional with great ambition to further, and built upon the successful historic contribution in various sectors of automotive industry and economic development.

At the initial stages of the establishment plant passed through its teething problems, these have been overcome successfully. The current objective of the company is in pursuing enhanced production together with high quality assurance and customer satisfaction.

To meet the overwhelming demand in the up country market for the Fiat car, the plant has enhanced its production and more than doubled its manufacturing of the Fiat Uno 1700cc diesel.

The company has increased its color range of existing seven by introducing four more attractive colors metallic black, pearl white, light green, special silver these colors will be available for the customers in the market very soon.

The company has established a network of more than thirteen dealers covering Lahore, Islamabad, Pindi, Multan, Peshawar, Faisalabad, Sialkot, Azad Kashmir, Hyderabad, Karachi and the latest addition to the growing network is Waheed motors at Lahore which has recently been welcomed to the group.

The company is now focusing its attention on the Karachi market and in the southern region of Pakistan. It will be looking for further expansion of dealership network in this region.

This has lead to continued growth and development of a strong dealership network covering all Pakistan with 3 s facilities.

To further facilitate the dealership network the special team of technical specialist has been constituted which will frequently visit the technical facility of the dealers and provide support systems.

The company has great focus on developing a very strong vendor base for its brands leading to indigenous development of skills, resources, and job creation together with saving of precious foreign exchange.

This project has been initiated by focusing on the requirement of the common man with desire of economy, strength, safety, comfort all rolled in one package so that the Pakistani motorist can attain the maximum benefit of European standards.

Special features of new Fiat UNO 1700 CC Diesel car as under:

•1700cc 4 cylinder diesel engine.
•5 Speed synchromesh gear box.
•Air-Conditioner, heater & de-fogger.
•Stereo System
•Zinc galvanized heavy gauge steel body
•PVC anti-rust under coating
•Special interior with simple luggage holds.
•Power window & central locking.
•Sealed beam halogen headlights.
•Sound proofs near noiseless drive.
•Attractive metallic (Optional) & solid colors.
•Sturdy suspension system.


China Aviation Supplies Import & Export Corp. (CASC) and The Boeing Company signed an agreement for the firm order of 30 Boeing 737 jetliners.

The agreement was concluded at a signing ceremony at the Department of Commerce, in the presence of Secretary of Commerce Donald Evans, Vice Chairman of the State Development Planning Commission Zhang Guobao led the Chinese delegation. Alan Mulally, president and chief executive officer, Boeing Commercial Airplanes, headed a delegation from The Boeing Company. The order is worth approximately $1.6 billion at list prices. The airplanes will be delivered 2002 through 2005.

The current 737 family (737-600/-700/-800/-900) is the newest and most technologically advanced in the single-aisle market. The 737 has the lowest operating costs in its class, offers superior reliability and maintainability, and exceptional flexibility in size and mission. The airplanes feature new, more spacious interiors with easily accessible overhead luggage bins, as well as an advanced flight deck with the latest large flat panel display technology. The airplanes are designed to fly higher, faster, farther, quieter and with greater fuel efficiency than competing models.

Boeing forecasts that in the next 20 years, China will require 1,764 new airplanes valued at $144 billion, making it the second largest market for airplanes after the United States. It is also projected that China's air traffic growth will average 9.3 percent annually during the same time period.

The order brings the total Boeing airplane orders from China in 2001 to 40, including six 737-700s for Air China, two 747-400 freighters for China Southern Airlines and two 757-200s for Xiamen Airlines, all of which were previously attributed by Boeing to unidentified customers.

NIT: New chairman

Mr. Tariq Iqbal Khan, who has been appointed by the Federal Govt. as Chairman & Managing Director NIT, took charge of his new assignment at NIT head office Karachi. Mr. Tariq Iqbal Khan, a Chartered Accountant by profession, will head the largest open-ended mutual fund in Pakistan, which has around 65000 unit holders and a fund value of around 16 billion rupees.

Prior to his appointment in NIT, Mr. Tariq Iqbal was working as Commissioner in Securities & Exchange Commission of Pakistan in Islamabad, since inception of the Commission in 1999. He started his career from a large accountancy firm in 1969 and remained associated with the profession till 1990. Besides working as a Consultant for Regional Development Finance Corporation (RDFC) from 1983 to 1986, he worked as advisor for Bank of Khyber from 1991 to 1998 and worked as independent corporate consultant from 1990 to 1995.

Mr. Tariq Iqbal Khan, a Founder Director of Islamabad Stock Exchange (where he handled all the legal work regarding formation of Islamabad Stock Exchange) served on many prestigious positions such as, President (January 1995 to March 1998) and Vice-President (1989-93). He also served as Member (Tax Policy) Central Board of Revenue from April to December 1998 besides serving on various Govt. committees relating to Stock Market and on the Board of some prestigious organizations including Central Depository Company. He was also member of the team, which negotiated capital market development programme loan with Asian Development Bank. He is member of the Advisory Board for IT (Telecom Division), January 2001 to date.

Decision of inducting Jogezai as minister hailed

Chairman EPZs Investors' Council (EPZIC) and FPCCI Panel Chief Sheikh Javaid has applauded the decision of the government to induct Sardar Mohammed Ali Jogezai a notable business leader in the provincial cabinet.

Sheikh Javaid who is also the Chairman of FPCCI committee on Export Processing & Free Zones (EP&FZ) further said that this step of the government is in the right direction and an honor for the private sector to have its representation on this high profile.

Sardar Jogezai is a patriotic Pakistani and takes keen interest in development programs for Balochistan. He has been a source of inspiration and provided guidance to our efforts to draw attention of the federal government as well as provincial government to the long awaited development in Balochistan, he added

EP&FZ Chairman Sheikh Javaid who has also been serving as Vice Chairman Ports, Shipping & Maritime Committee of FPCCI hoped that the proposals regarding Gwader, Ormara and other parts of the neglected province of Balochistan will now have additional support from the government with the induction of Sardar Jogezai as the Minister.

Javaid reiterated that Mr. Jogezai not only enjoys support of the Apex Body of FPCCI but even that of a small trader and businessman at the grass root level.

Tax guide 2001-2002

Tax Guide 2001-2002 has been compiled by Mr. Syed Jamil Ahmed Rizvi who is well known for preparing research publications on important issues of National Economy and Finance.

Significant income tax changes announced in the Federal Budget 2001-02 along with their previous perspective have been discussed and briefed in detail which provides a ready reference and is very useful for business executives, accountants and businessmen. It provides solutions to the complicated tax problems confronted by the taxpayers.

The book explains the lengthy and complicated Appeal procedure easily understand by a reader. In fact the whole book has been written with clarity of research based ideas, innovative skills compounded by simplicity.

This Guide will remain Applicable upto 30th June, 2002 due to the fact that Draft Income Tax Ordinance, 2001 has been enforced will be implemented from the next financial year. There is no change in the income tax rate during current financial year. Any change either in the Finance ordinance 2001-2002 or the existing Income Tax ordinance, 1979 and Income Tax Rules, 1982 will be introduced in the next budget for 2002-2003. Therefore, the research based Tax Guide compiled by Mr. Syed Jamil Ahmed Rizvi will be very much useful and serves as a tool to easily understand the new Income Tax ordinance enforceable with effect from 1st July, 2002.

Suzuki motorcycles Pakistan Ltd.

Annual accounts for the year ended June 30, 2001

Sales: Sales in 1999-2000 were Rs. 289.263 million, while in 2000-2001 it increased to Rs. 576.258 million i.e sales have doubled. The reasons for the major increase in sales were:

1. The general improvement in the motorcycle market;
2. Expansion in our net work of Company owned showrooms;
3. Improved performance of our previously established showrooms;
4. Increase in the demand of Suzuki motorcycles by rickshaw makers.

The Company has introduced a four stroke motorcycle (SD 110) with state of the art engine and a highly attractive design. We have been getting good feedback about this model from the market. We anticipate gradual growth in sales of this model in line with the basic model of motorcycles sales growth in this market.

Wire harnesses being produced for Suzuki cars also made a major contribution to our turnover.

Gross Profit: With the increase in sales gross profit has increased from Rs. 69.288 million in 1999-2000 to Rs. 142.508 million in 2000-2001, i.e. a growth of 105%.

Selling and Administration Expenses: Higher production and sales resulted in an increase in Selling and Administration Expenses. However as a percentage of sales these expenses were reduced from 19.37% to 15.64%.

Financial Charges: During 2000-2001 financial charges were Rs. 29.354 million as against Rs. 17.350 million in 1999-2000. Although the borrowings from local banks were at low markup rates, still the rates are higher than the foreign currency loan utilized during the previous year.

Profit & Loss: The Company earned a pre-tax profit of Rs. 23.317 million during 2000-2001 as against a loss of Rs. 3.296 million in the previous year.

Future Prospects: Until 11th September, 2001 the rising sales trend of 2000-2001 had continued.

Since then a high degree of uncertainty is prevailing in Pakistan. There is a slow down in the demand for some consumer durables like motorcycles. Favorable strong international economic and political support is forthcoming. Its impact should materialize after lag of several months. We hope that the uncertainty could dissolve before the end of the year. Economic indicators seem to be positive and the economy should gradually pickup. With such expectations being realized sales and profit during 2001-2002 should be better than the previous year.



The Federal Government is pleased to recognise the Pakistan Ship's Agents Association from 'B' to 'A' Class The Pakistan Ship's Agents Association is entitle all the privileges accorded generally to the trade organizations and all other privileges of the Class to which it belongs. FPCCI is requested kindly to take further action accordingly.

Karachi Institute of Information Technology (KIIT)

KIIT implements Quality Assurance Procedures approved by the University of Huddersfield, which require Modules/Papers to be taught at the same standard as are being taught at the UOH today. For this the Module tutors at the KIIT has a counterpart at the UOH and they are required to be in constant liaison with each other on one to one basis through E-mail, Fax and Courier Service. The UOH constantly provides its courseware as well to ensure quality in the delivery of courses.

Examination Process:

(1) Examination Papers/Course-Works/In-Class/In-Lab Tests and a different set of papers for Refer/Defer cases are designed at least 3 weeks prior to handing it out to students.
(2) They are moderated at the SAME TIME by a counter part of the module Tutor at UOH and by the UK-Based External Examiner (EE).
(3)The External Examiners are appointed by University of Huddersfield and are involved in scrutinising a sample of examination papers and scripts. The scripts are sent on regular intervals after the moderation is completed from UOH end.
(4) In the Assessment Board(s) the EE plays an important role, though he/should not be considered as the 'arbiter' in cases of disagreement. The EE in this regard pays a visit to KIIT in each semester where he goes through the student's answer scripts, assignments and speaks to them as well. At the end of his visit he is required to sign a statement to the effect that he/she agrees with the marks awarded at the board.
(5) The final task for the EE is the production of the External Examiner's Report. This report provides evidence of the 'health' (or otherwise!) of the pathway and modules. Most EE reports will contain a mixture of some good points and some points for consideration/action.

This rigorous process ensures the quality in assessments and teaching at KIIT.

Comments of External Examiners for KIIT and its Students

"I found my experience as External Examiner at KIIT most encouraging. The high standard and dedication of the staff was evident and I have no doubt whatsoever as to the high quality of the teaching and assessment procedures".

Dr. Mark Ratcliffe, External Examiner, University of Wales, England, Summer, 1999.

"The standard of work required is the same as standard used for cohorts of students based in Huddersfield. This indicates that the students are being well prepared by their teachers and tend to be determined to succeed. The standard and level of achievement also indicate that, in general, there is good communication between Karachi and Huddersfield module tutors concerning standards, moderation of assessment and teaching materials.

Dr. Mark Kirby, External Examiner

University of Huddersfield, England, Summer, 2000.

"Performance of KIIT students is at par with the performance of UOH students." Mr. Roger Garside, External Examiner University of Lancaster, England, Summer, 2001.

Swissair resumes flight operations to Karachi

Swissair resumes its flight operations to Karachi from Sunday 7th October 2001, with 3 weekly flights on Sundays, Tuesdays and Thursdays (via Dubai)

"Swissair deeply regrets the inconvenience to its passengers and is working hard to restore a full programme of flights on its worldwide network as quickly as possible," said Hanspeter Wegmueller, Swissair's General Manager for Pakistan.

The decision to immediately resume flight operations was taken after the Swiss government made a credit available to Swissair in the amount of maximum CHF 450 million.

As of today, Swissair has started operating over 50 percent of the scheduled flights. Subsequently, the number of flights shall be increased. It is Swissair's objective to offer their passengers as complete a flight schedule as possible.

"We are advising all Swissair passengers to contact us through our dedicated hotlines or via our website on www.swissair.com for further information."

The following hotlines are available to our passengers for information and reservations: Karachi: 568 4643 Lahore: 666 6407 Islamabad: 282 2677