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
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
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.
•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 ORDERS 30 BOEING 737
China Aviation Supplies Import & Export Corp. (CASC) and
The Boeing Company signed an agreement for the firm order of 30 Boeing 737
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
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
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
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
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.
UPGRADATION OF PAKISTAN SHIP'S AGENTS ASSOCIATION
FROM "B" TO "A' CLASS
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.
(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
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
"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
The following hotlines are available to our passengers for
information and reservations: Karachi: 568 4643 Lahore: 666 6407 Islamabad: 282