Apr 15 - 21, 2002
OKLAHOMA SENATOR VISITS PSO
Mr Billy A. Mickle, US State Senator from Oklahoma,
expressed desire that his constituency be included in the itinerary of
the upcoming road shows for Pakistan State Oil sell-off.
Mr. Mickle, along with a group of US investors and
oil industry CEOs, was briefed on PSO by its Managing Director, Mr
Tariq Kirmani. Top executives from Shell Pakistan, Caltex, Sui
Southern Gas Company and the Board of Investment were also present.
The US legislator said that he was impressed by the
way Pakistan's premier public sector company was being run and would
"tell the investors back home about the transparency of the
process of privatization". He said Oklahoma is not new to the oil
Mr Tariq Kirmani informed the visitors that the
financial advisors J. P.Morgan were finalizing the brief on PSO
privatization and the road shows are likely to get under way during
April-May. So far, he said, these shows are planned in Europe, Middle
East and Far East.
Other members of the delegation also actively
participated in the lively question-answer session that followed the
PSO MD's presentation. They included Mr Glenn Floyd, ex-State Rep
& Municipal Board Attorney, Oklahoma, and Mr. Hilly Bashir, CEO,
The Sui Southern also made a detailed presentation
on the gas industry potentials.
PSO SIGNS 10-YEAR DEAL WITH
Pakistan State Oil (PSO) signed an agreement with
Bosicor Refinery for the purchase of all petroleum products, including
liquefied petroleum gas (LPG).
The Bosicor Refinery, which is being set up at Hub,
will have a total capacity of 30,000 barrels per day. It will become
operational early next year.
According to the sales-purchase agreement, PSO will
purchase all petroleum products produced by Bosicor for the next 10
In a second agreement signed with Bosicor, PSO will
handle crude oil for the refinery at its Zulfiqarabad Oil Terminal.
According to the crude oil handling agreement, PSO
will receive crude oil for Bosicor at Port Qasim and store it in two
storage tanks of 30,000 metric tonnes capacity that will be specially
constructed for the purpose. From Zulfiqarabad, the oil will be
transported to Bosicor in tank lorries.
For PSO, the Managing Director, Mr Tariq Kirmani,
signed the agreement while Bosicor was represented by its Managing
Director Mr Pervez Abbasi.
PSO, AWT SIGN MOU ON OUTLETS
Pakistan State Oil (PSO) and Army Welfare Trust (AWT)
inked a Memorandum of Understanding to establish a chain of retail
outlets throughout the country. The MoU was signed by PSO Managing
Director, Mr Tariq Kirmani, and AWT Managing Director Lt Gen Masood
Parwaiz on behalf of their respective organizations. The chain of over
50 model filling stations will be established over a period of three
years. These outlets will also have CNG facility, Internet, minimarts
and business centers — a hallmark of PSO's New Vision strategy to
provide one-window service to its customers.
NBP, HBL AND UBL PROVIDE RS.
2.4 BILLION FACILITY TO PAKISTAN STATE OIL (PSO)
The signing ceremony of the PKR 2.4bn Medium Term
Facility arranged by the three large local banks National Bank of
Pakistan (NBP), Habib Bank Limited (HBL) and United Bank Limited (UBL)
to Pakistan State Oil (PSO) was held in a simple but impressive manner
recently at PSO House, Karachi. Present at the occasion were Mr. Zakir
Mahmood, President HBL, Mr. Amar Zafar Khan, President UBL, Masood
Karim Shaikh, SEVP and CFO NBP and Mr. Tariq Kirmani MD PSO.
The syndicate Banks expressed the opinion that this
was a landmark transaction in the terms of the quick turnaround time
and the competitive pricing the banks were able to offer to PSO on
account of the strong fundamentals of the Company. Cooperation
extended by the employees of PSO helped the banks in closing the
transaction in a very short time. MD PSO speaking on the occasion
appreciated the efforts of the team involved in the transaction and
said that the Facility would enable the Company to reduce the
financial cost and further improve the profitability.
The facility has a tenor of eighteen months with
repayments in consecutive equal monthly installments with mark-up
payment in arrears on semi annual basis. National Discounting Services
Ltd. is acting as security agents.
PSO is Pakistan's largest oil marketing with a
market share of 70% and is fully prepared for the industry's
deregulation and has a market strategy to deal with competition.
This deal denotes the strong and successful
syndication capability of the three large local banks, which resulted
in meeting the expectations of PSO in the shortest possible time.
FRENCH CONSUL GENERAL BIDS
FAREWELL TO RUSSIAN COUNTERPART
Recently, French consul general, Gilles Bonnaud who
is also the current Dean of the diplomatic corps in Karachi hosted a
reception at his residence to bid farewell to the consul general of
the Russian Federation Mr Yuri Materiy who would be leaving soon for
Moscow after completing his tenure in Karachi.
Speaking on this occasion, Mr. Bonnaud highlighted
the distinguished career of his colleague and appreciated the
co-operation extended by Mr. Materiy to the diplomatic corps during
his tenure in Karachi. On behalf of Karachi's diplomatic corps, the
Dean wished him goodluck in his future assignments and presented a
beautiful silver memento to the outgoing diplomat.
Addressing the diplomatic corps and eminent
journalists present to bid him adieu, Mr. Materiy declared that he was
highly satisfied with his stay in Pakistan and was departing with
pleasant memories. He thanked his colleagues, his numerous friends,
the press and the local authorities for it.
WELCOME SWISS - SWISS AIR
Beginning of April 2002 introduces a new chapter in
the Aviation History of Switzerland, and at the same time marks the
introduction of Switzerland's new national airline to Pakistan. SWISS
has been declared the new national airline of Switzerland after the
former company Swissair ceased its operations on 31st March of this
Swiss Air Lines main
mission will be
• to create the world's most respectable airline
through an unswerving committment to quality, innovation, customer
care and design.
• to become one of the most admired companies in the world by
improving the way people live.
• and - to be Swiss!
FIRST INTERNET CREDIT CARD IS
LAUNCHED IN PAKISTAN
Mohammedmian Soomro, Governor Sindh in a local
Hotel on 10th April, 2002, has launched Internet Credit Card First
time In Pakistan. This Internet Credit Card will work in all ISP's all
over Pakistan. Card is Interest Free and any one can qualify, other
features include Multiple access of ISP's, Credit Facilities, free
Internet Account, Reward Plan, Free Pick & Drop service, E-Club
with 24 hours customer service.
Governor Sindh said, "It is a very good
product it will promote the IT culture in Pakistan. IT enhancement is
needed and launching of Internet Credit Card shows that there is lot
can be done, this card have the Government support and I appreciate
the efforts of Mr. Tariq Nizami and wish him all the success in his
Also Mr. Tariq Nizami, Chief Executive of Internet
Credit Card Pvt. Ltd. said that this card will promote Internet and IT
in Pakistan, we have plans to add additional services. Dr. Ata Ur
Rehman, Minister of Science & Technology also supported this card
in message. He thanks the Governor Sindh for introducing Internet
Credit Card to Pakistan.
Local businessmen, IT professional, ISP's, banks
officials and others attended the launching Ceremony. This card is
unique and first of its kind in Pakistan.
NEW CRM MODULE TO MANAGE
CUSTOMER INTERACTION AND COMMUNICATION ACROSS ALL POINTS OF CONTACT
Teradata, a division of NCR Corporation (NYSE:
NCR), has announced it will launch Touchpoint Server (TPS) as part of
its customer relationship management (CRM) application suite. TPS
serves as the central technology linking marketing communications with
customer interaction channels such as call centers, web sites,
automated teller machines (ATMs) and web kiosks — often called
consumer "touchpoints" — in near-real time.
"TPS helps companies ensure that
communications with individual customers are relevant, timely and are
managed through the channel that best fits customer preferences,
" said Peter Heffring, president of the Teradata CRM division.
"It allows marketers to better understand what is important to
individual customers and communicate with each one based on that
TPS acts as the main delivery mechanism, allowing
companies to plan, manage and execute their marketing communications
plans. TPS enables this capability through:
Channel Delivery — Ability to deliver marketing
offers generated by the company through its Teradata CRM solution to
all channel types.
Event-Based Campaign Injection — Ability to take
a customer event, determine its significance and potentially inject it
into a promotional or service campaign based on that event — all in
near-real time, ready for the next interaction.
Response-Based Stepping — Ability to process
responses in near-real time and take appropriate steps based on that
response. This allows for the customer actions on one channel to be
quickly known, within minutes, on another.
For example, a long-standing customer at a large
local bank decides to refinance a home, and decides to visit the
bank's Web site to shop around for the best home loan interest rates.
While at the site, the customer discovers that the bank has one of the
lowest rates in the market. Later that night, when the customer goes
to use an ATM to get some cash, there is a special offer two points
better than the Internet loan seen earlier based on the customer's
credit rating and long-time value to the bank. In the morning, when
the customer logs onto the bank's website again, that same offer
appears on a personal Web page. Based on the level of personalization
received through these two channels — the ATM and the Internet —
the customer might then choose to contact the call center to learn
more about the special rate, at which time the call center agent is
prepared with information about the personalized offer.
"Just-in-time, relevant responses to customers
can mean the difference between weakening or strengthening a
relationship," said Bob Moran, research vice president &
managing director, Data Knowledge and Analytics, Aberdeen Group.
"A company that can respond in real time to individual customers
with precision and relevance wherever they touch that business —
using technology that enables it to link its analytical and
operational systems — is best positioned to grow customer loyalty
and business value."
Touchpoint Server, part of the Interaction family
within Teradata CRM's six areas of functionality — Analysis,
Modeling, Communication, Personalization, Optimization and Interaction
— will be available early in the second quarter of 2002.
ABOUT TERADATA DIVISION
Teradata, a division of NCR Corporation, offers
powerful analytical solutions that help businesses drive growth.
Teradata solutions include the Teradata database, and analytical
applications for customer relationship management, operations and
financial management, business performance management and e-business.
To learn more about Teradata Division and its solutions, go to http://www.Teradata.com.
KARACHI STOCK EXCHANGE
The Management of the Karachi Stock Exchange, has
decided to observe the following timings for trading till further
notice with effect from Friday, April 12, 2002.
Monday to Thursday Friday
Pre-Open 09:30 a.m. 09:00 a.m.
Open 09:45 a.m. 09:15 a.m.
Close 02:15 p.m. 01:15 p.m.
Open Market COT 03:30 p.m. to 04:30 p.m. 03:30 p.m. to 04:30 p.m.