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May 13 - 19, 2002

GOVERNOR SINDH ADDRESSES NCR SEMINAR-THE POWER OF PREDICTION!

Teradata, a division of NCR organized a seminar @ctive Data Warehousing Seminar Series: The Power of Prediction! in Islamabad. Chief guest on the occasion was the Governor Sindh Mohammedmian Soomro and the guest of honor was Sindh Finance Minister Dr. Abdul Hafeez Sheikh. The keynote speaker at the Seminar was Dr. Stephen Brobst, Chief Technology Officer NCR. Also present on the occasion was Syed Veqar-ul-Islam, Country General Manager, NCR Pakistan.

Speaking on the occasion the Governor said, "Information Technology is the key to all applicable knowledge. Practically everything today is linked to Information Technology and it cannot be denied that in prevailing times the progression of a developing society like ours is largely dependent on the growth of our IT sector. "

"I am glad that companies like NCR have been consistent in their support to ensure that it plays its part in supplementing the efforts of the Government of Pakistan in furthering the usage of IT in Pakistan. We, as a country, have to select our areas of focus within the IT industry and project Pakistan's strength in these areas of focus. We must focus in the services sector, as this is where the margins are increasing, and this is the area of real growth", he added.

In his address Dr. Abdul Hafeez Sheikh talked about how Information Technology is changing with speed around the world and the scenario in Pakistan is also the same. There is greater emphasis being placed on IT in the country and in Sindh due importance was being accorded to Information Technology. He also mentioned that while infrastructure was being improved change would not emerge overnight.

The aim of the seminar was to make businesses and organizations realize the importance of data, as data drives business. Knowledge moves the marketplace and Intelligence the universe. For organizations to stay competitive, they have to make acquisition of intelligence about their customers, their competitors and their global position their number one goal. @ctive data warehousing transforms intelligence into actionable results, which is the key to survival in the new economy. Organizations can see the real truth about their business and know their customers every move.

Stephen Brobst, Chief Technology Officer, NCR Corporation, who is considered to be an Icon in Data Warehousing & CRM within NCR and worldwide specializing in the design and construction of Data Warehouse solutions for Fortune 500 companies and also is recognized as a speaker of worldwide acclaim on Data Warehousing. Besides being the author of many books, he is also an expert in the field of e-commerce and Customer Relationship Management (CRM) solutions.

In the seminar, he covered different aspects of data warehousing including moving transactions to decision support systems, Customer Relationship Management through @ctive data warehousing, evolution of data warehousing with real world examples and developing a system support strategy. He illustrated various concepts with real world examples, which were of great interest to the audience present at the Seminar, which included Chief Executives, Division Heads, Operation Managers, Business development Managers, IT Managers and Marketing Managers.

The seminar especially proved effective for government and non-government organizations in Pakistan providing them with insights into the requirements for making strategic and tactical decisions.

In 2000, NCR introduced these series of seminars in Pakistan for the first time for introducing latest trends and innovations in the field of data warehousing.

Earlier in his welcome address Syed Veqar-ul-Islam said, "The key objective of these seminars is to bring awareness about the emerging technology of Datawarehousing and CRM by bringing speakers who are considered an ICON in the industry worldwide. This is our third consecutive year, where we have continued to invest heavily in organizing such concept oriented and highly informative seminars.

How a Centralized, single, trusted version of the truth once available in the organization, helps you to conduct your business. In Pakistan we are talking about "Growth" in every segment. In some cases we have made progress, in others we are striving hard. Talking about growth, how many of us actually know which customer group in our own sphere of operation, provide the greatest profit today and more importantly which customer group has the highest growth potential. It is invariably true, that very small fraction of your customers drive the most profit, and more importantly another small group has the highest growth potential."

DEPARTMENT OF MANAGEMENT SCIENCES, ISRA UNIVERSITY, HYDERABAD

Isra University, the first UGC recognized private university of Hyderabad operates competitively three of its departments Medicine, Computer and management sciences.

As business education faces up the challenges of the new millennium, the ripples created by the department of management sciences are worth noticing in terms of dynamism and qualitative education in less than four years.

Under the dynamic leadership of Prof. Dr. Amanat Ali Jalbani, Chairman Department of Management Sciences, with its top-notch faculty and the mix of business courses, it seemed to have given an ample opportunity to the young brains of Hyderabad to have their share of good education.

At the department of Management Sciences we believe in providing quality education and training our students as professionals in their field as well as making them good members of our society.

Keeping its mission high in view, the faculty of management sciences that includes Ph.Ds and PGDs from U.S., U.K and Germany is working closely with the professionals of various business fields, government, industry and commerce to develop greater awareness and understanding that they could later on contribute to the professional development of the students.

At present, the programs of Department of Management Sciences include BBA-IT, BBA (Hons) MBA in MIS, Marketing and Finance. It also offers MITM, which blends business studies with computer sciences.

The faculty members use the modern teaching methodologies to motivate and maintain the interests of the students by arranging interactive exercises in the classes to brush up the student's existing skills while helping them to gain a recognized qualification. The activities include quizzes, business games, presentations, assignments and case studies. All the students are encouraged to use multimedia in the preparation of their presentation and to make an effective use of information technology by working in the computer labs to search for the current information about their topics of presentations.

Isra University believes that knowledge is nowadays the key source. The future belongs to those who know how to access and use information. Keeping in view this factor it has developed the crucial source of information for the students i.e. a good library which comprises of foreign books currently used in the best universities of the world, and constantly updating them with new editions. Furthermore, it has tried to induce the case study method, used by the best business schools like Harvard, in the curriculum and course exercises and for that matter, the library is provided with numerous case studies of the world's best companies. The library also offers the students an access to audio and video sources which they can relate to their courses to gain practical and current examples of the companies while actually learning useful business skills.

In addition to the above-mentioned resources, the department of Management Sciences of Isra University is known for its clean vibrant environment purposely built buildings, spacious and air- conditioned classrooms to create one of the best learning environment among business schools.

Culmination of any fine education involves an overall development of the personalities of the students. Everyone knows this fact that the students should have original minds and it's the best time to inculcate in them the best attitudes of life. A staunch believer in the student's counseling this department has arranged for the advisors of students in a ratio of 5 to l who are none other but their teachers. They not only advise them on academic activities but also take care of inducing in them a strong adherence of moral and ethical values, which would make them good and competitive citizens of Pakistan.

The mood of enthusiasm and hard work echoes throughout the department with the dedication of Isra's Department of Management Sciences to help support and nourish learning among its students who INSHALLAH would soon prove to be the cream of the crop.

23rd AGM OF PAK KUWAIT INVESTMENT CO.

The 23rd Annual General Meeting (AGM) of Pakistan Kuwait Investment Company Limited (Pak Kuwait) was held in Karachi on 06 May 2002. Pak Kuwait is a 50:50 joint vcnture between the Governments of Pakistan and Kuwait.

The AGM was attended by Mr. Abdulazim M.A. Al-Shamali, representing Kuwait Investment Authority, Mr. Zaigham Mahmood Rizvi representing Pak Kuwait and Mr. Mohammad Shakir authorized representative of the State Bank of Pakistan.

Mr. Zaigham Mahmood Rizvi Managing Director, Pak-Kuwait, appraised the share holders of the Business Plan of the Company, including the various measures and initiatives being adopted by the Management of Pak Kuwait to maintain its strategic position against adverse economic environment, achieve an improved benchmark of performance, in addition to the various initiatives being undertaken by the Company that will act as a catalyst in revival of investment activities in Pakistan. The Shareholders were also appraised of the initiatives undertaken at Pak Kuwait to streamline internal processes through introduction of Digital Archiving of records and ISO-certification. It was felt that this would enable Pak Kuwait to establish a strong organizational foundation, documentation and manualization for improvement of internal management and control systems required to meet international standards.

The Accounts for the year 2001 were considered and approved at the AGM. The share holders appreciated the measures adopted by the company that has resulted in posting of highest operating profit of Rs. 984 million in the history of the Company, a growth in balance sheet by Rs. 905 million ( 9%) with a net worth of more than Rupees 4,000 million. Pak Kuwait continues its highly impressive record of dividend payouts. A dividend payment of Rs. 365 million was approved for payment, inclusive of an interim dividend of Rs. 165 million from the profit of the first quarter ended March 31st 2002.

The Managing Director informed the Shareholders of the recent reaffirmation of 'AAA' credit rating status of Pak Kuwait by the credit rating agency. The achievement of consecutive maintenance of 'AAA' status for the third consecutive year was highly appreciated by the shareholders. The Managing Director appraised the Shareholders about the various measures being adopted by the Management of Pak-Kuwait to meet new challenges for an improved benchmark. This provides a challenge to the Company to excel over its past performance.

LAUNCH OF MICRO FINANCE CELL

Pakistan Kuwait Investment Company (Private) Limited formally launched the operations of Micro Finance Cell on 6th of May, 2002 by disbursement to its first two customers. The two customers have migrated to Karachi from Kohlo, Balochistan. Presently they buy cloth from the market and sell in rural areas of Katror, Lasbeela, Thatta etc.

Cheques were distributed by Mr. Abdulazim M.A. Al-Shamali (Chairman - Pak Kuwait) and Mr. Zaigham Mahmood Rizvi (Managing Director - Pak Kuwait) at the conclusion of the 23rd Annual General Meeting of Pakistan Kuwait Investment Company (Pvt.) Limited in presence of the nominees of State Bank of Pakistan and senior members of the management.

On the occasion, the Chairman Mr. Abdulazim M.A. Al-Shamali stated that Pak-Kuwait has initiated the endeavour of launching the Micro Finance initiative that will go along way to contribute to the well being of the common man.

Mr. Zaigham Mahmood Rizvi, Managing Director of Pak-Kuwait stated that Pak-Kuwait envisages playing a dynamic role in the area of Micro Finance. He added that micro-finance can play a major role in employment generation and poverty alleviation.

Pakistan Kuwait Investment Company (Pvt.) Limited has established the Micro Finance Cell to offer financial services for the benefit of disadvantaged section of the population. Micro Finance Cell will design products and provide financial assistance to Micro Entrepreneurs for initiating or expanding income generating activities in commercial, industrial, agricultural and service sector. The cell will promote formation and capacity building of community based micro-finance institutions.

While initiating and expanding income-generating activities, the cell will collaborate with welfare associations and other institutions closer to potential customers. It will provide a variety of support services, which would include, motivating and organizing the poor, extending financial training, helping build backward and forward linkages. The cell will give priority to people below poverty line, 'special persons' and women. The cell will also guide and encourage skilled workers and educated unemployed youth for starting their own career as micro entrepreneurs.

Micro Finance Cell will initially serve the Customers residing in Karachi particularly the rural areas and Goths adjacent to Karachi.

NISAR COMMENDS PSO FOR 'TURNAROUND'

Pakistan State Oil (PSO) has achieved a phenomenal tunnaround and can now be cited as a role model for corporate good governance.

This was stated by Mr Nisar Memon, Federal Minister for Information and Media Development, at a largely attended dinner-reception hosted in his honour by Mr Tariq Kirmani, Managing Director, Pakistan State Oil, at a local club.

Mr Nisar Memon served at the PSO Board of Management for almost two years before his present assignment as Federal Minister.

He especially praised the way the present management has steered the company clear of the financial morass of the yester-years and broutht it back to No. l position among the oil marketing companies operating in Pakistan.

He said though he had resigned from the PSO board immediately after assuming the ministerial charge to avoid any semblance of clash of interests, his heart was still with this premier corporate entity of the country.

Mr Tariq Kirmani narrated the contribtion Mr Nisar Memon made to the company's well being as its board member. He also thanked the minister for his continued cooperation and guidance.

Speaking on the occasion, Mr. M Salim, Chairman, PSO Board of Management, observed that Mr Nisar Memon's contribution to the company could be gauged from the fact that the board has yet to find suitable replacement for him.

The guests at the reception represented a cross-section of the corporate elite.

PSO SAVES US$ 850,000 IN FUEL OIL IMPORT

PSO invited tenders for supply of 275,000 MT High Sulphur Furnace Oil (HSFO) and 75,000 MT of Low Sulphur Furnace Oil (LSFO). The tenders were opened on 2nd May in a transparent manner in presence of suppliers/traders or their representatives.

The bids were very competitive resulting in lower premiums as compared to Term Contract premiums. There were 11 participants for the PSO tender and 6 participated in the Japanese Tender.

The premiums were identical in both tenders. HSFO premium ranged from US$ 10.98 PMT to US$ l9.95PMT for M/s. Fal Oil and M/s. Vitol respectively, against the term price of US$ 12.88 PMT. The bids for LSFO ranged from US$ 28.44 PMT to US$ 45 PMT for Mls. Fal Oil and M/s. Hascombe Ltd. respectively against our Term premium of US$ 34.00 PMT.

Based on the lowest premium M/s. Fal Oil was awarded 3 firm and 1 optional cargo for HSFO and 2 firm and 1 optional for LSFO. M/s. Bakri was awarded one Optional Cargo of HSFO.

As a result of this tough competition between Suppliers/Traders an amount of US$ 850,000 has been saved by PSO for the nation.

PSO does not retain these savings and passes on the same to its customers in the shape of lower prices of HSFO/LSFO. Hence,on one hand, PSO has saved precious foreign exchange of approximately US$ 850,000 and, on the other hand, PSO will reduce the price of LSFO/HSFO by an equivalent amount to benefit its customers.