June 17 - 23, 2002
PSO BEGINS TRAINING 8,000-STRONG TANK LORRY CREW
Pakistan State Oil (PSO), the largest oil marketing
(OMC) company in Pakistan, has started training 8,000 drivers and
cleaners employed by its cartage contractors and the company.
Inaugurating the "Defensive Driving Training
Course," on Wednesday at Keamari Terminal C, the Managing
Director of PSO, Mr Tariq Kirmani, announced that PSO would reward
those among them who drove safely and did not meet with any accident.
He said that training is must for all professionals at all levels
throughout their professional life and such programmes will be
conducted in future as well.
Asking drivers and contractors to communicate with
him directly for all their problems, Mr Kirmani announced that
restrooms would be set up at major retail outlets, depots and
terminals all over Pakistan for drivers. He added that freight rates
had been increased by six per cent recently.
PSO has appointed Institute of Behavioral
Psychology and Consult & Train to conduct training programmes not
only in the areas of teaching techniques of defensive driving and
safety skills but also covering the behavioral and health psychology
of drivers. This includes changing the mindset of drivers and,
therefore, bringing about a difference in their attitudes and
The training programs will be interactive and
educational, based on lectures, discussions, games, roll play, slides,
actual demonstrations and video.
PSO's objective in introducing the course is to see
a significant reduction in oil tanker accidents and fatalities and
create a team of responsible and skilled professional drivers.
Speaking earlier, Mir Mohammad Yusuf Shehwani of
All Pakistan Tankers Owners Association (APTOA) expressed full
confidence in the leadership of Mr Tariq Kirmani in bringing about a
turnaround in the company's fortunes and its relationship with cartage
Mr M Z Tamimy, GM Logistics, and Mr Shehzad Manzoor,
Manager HSE, also spoke on the occasion.
ICAP PRESIDENT INAUGURATES PAKISTAN CHARTERED
ACCOUNTANTS FORUM IN DUBAI
Pakistan Association, Dubai has established a wing
for Pakistani Chartered Accountants living in UAE by the name of
PAKISTAN CHARTERED ACCOUNTANTS FORUM. Mr. Mohammad Nafees, FCA who has
been in UAE for several years, is the Chairman of this wing. The
formal inauguration was held on 30 May 2002 at the Pakistan Sports and
Recreation Club in Dubai by A. Husain A. Basrai, President of the
Institute of Chartered Accountants of Pakistan. On this occasion, Mr.
Basrai also gave a comprehensive presentation on the developments at
the ICAP, and the new laws and regulations which govern the auditing
and accounting profession in Pakistan.
This Forum is the need of the day for some 130
Pakistani CAs living in UAE and will help them in keeping abreast with
the developments in Pakistan and all over the world. The Forum, in
close co-ordination with the ICAP will organize regular training
programmes and lectures for the professional development of members of
the ICAP living in UAE and assist Chartered Accountants in identifying
suitable employment opportunities in the UAE .
UBL ARRANGES RS.400 MILLION SYNDICATED FACILITY FOR
AMTEX SPINNING LTD.
United Bank Limited has recently arranged PKR 400
million syndicated term loan facility for Amtex Spinning Ltd. The
facility received strong interest from the financial institutions and
was heavily over-subscribed. Pakistan Industrial Credit &
Investment Corporation Ltd., and Habib Bank Ltd. Are acting as
Co-Arrangers for the transaction.
The funds arranged will be utilized to set-up a
spinning unit comprising of 20,640 spindles and 720 Air jet spinning
positions/heads. Amtex Spinning Ltd. is a project of the Amtex Group
from Faisalabad. The Group is involved in the manufacturing and export
of quality home textile products.
Currently, Amtex Group companies are equipped for
all stages of manufacturing textile value-added products — from
weaving till the stitching phase, except the spinning facilities. With
the setting up of this spinning unit, the Group will be in a better
position to ensure quality of the finished product. The Corporate
Banking Group at United Bank Limited has been assisting the Group by
providing financing for its various expansion plans.
The Investment Banking Group at UBL is working on a
number of innovative transactions structured to meet the specific
funding requirements of customers.