July 08 - 14, 2002
INBOX FACILITATES ONLINE RUPEE TRANSACTIONS
Inbox Business Technologies Private Limited
announced its upgraded website which facilitates online rupee
transactions at a media gathering held at a local hotel. The website
which will be officially launched on Monday July 8, 2002 offers
customers the opportunity to customize PCs and order online.
"The recent revamping of our website was done
for the sole purpose of supporting online rupee transactions and
customizing their PCs. Now customers can not only configure their
machines according to their requirements but also order the machine
online. This is truly e-commerce the customer does not have to leave
the house to buy the machine but can in fact purchase our products and
accessories online," said Ghias Khan, CEO, Inbox Business
It has been 18 months since Inbox was established
and since then the company has progressed and evolved on several
fronts. Inbox was the first Intel Premier Provider in Pakistan in
addition to being the first computer company to assemble local branded
laptops. In June 2001 The company was also awarded a Marketing Award
by Intel Corporation. This year, Inbox received an award from Intel
that recognized the company for selling the highest number of servers
in Pakistan. They have also recently acquired ISO 9001-2000
certification to ensure the overall service and product quality of the
Inbox has followed a focused strategy of tapping
into the local corporate scene and has to date over 300 clients.
Through this website, Inbox will now focus on the home segment by
offering easy purchase mechanics at affordable rates.
SECRETARY PETROLEUM COMMENDS PSO'S 9-MONTH PERFORMANCE
Abdullah Yousuf, Secretary, Ministry of Petroleum
and Natural Resources, has appreciated Pakistan State Oil's
performance during the period ended March 31, 2002.
He was speaking to the company's top management
during a recent visit to its headquarters at PSO House. The secretary
was given a presentation on the company's nine-month performance.
The secretary observed that the company has not
only improved its financial health with increased profitability, but
was also pressing ahead with all its major investment plans.
He emphasized the continuation of the current
pro-active stance the company has adopted to face the challenges of
deregulation, and said he wanted PSO's New Vision Retail Development
Programme further expedited beyond its already ambitious targets.
The Managing Director of PSO, Mr. Tariq Kirmani,
informed the secretary that — despite stiff competition and negative
effects of-post-September 11 scenario — implementation of modern
management practices, coupled with empowerment and accountability at
all levels, had improved company's productivity and profitability.
The MD informed the secretary of the status of the
corporate objectives for the 2001-02 financial year and highlighted
the progress made in the implementation of key projects.
SYED MASOUD ALI NAQVI, RE-ELECTED PRESIDENT, MAP
Syed Masoud Ali Naqvi, Senior Partner, Taseer Hadi
Khalid & Company (Member firm of KPMG) was re-elected unopposed as
President of Management Association of Pakistan (MAP) for the year
He was elected to this position for the second
consecutive year in its 36th Annual General Meeting held on 28th June,
2002 at a local hotel here.
Mr. Naqvi, chartered accountant by profession, is
fellow of the Institute of Chartered Accountants of Pakistan (ICAP)
and has been President of ICAP for the year 1994-95 and 1995-96. He
has a long association with MAP and was elected as a member of MAP's
Executive Committee in 1998-99 and has held the positions of its
Honorary Secretary in 1999-2000 and Vice President in 2000-2001.
Other office bearers who were also elected
unopposed at the Annual General Meeting are: Javed Iqbal, former
Chairman and Managing Director of Philips Electrical Industries of
Pakistan (Vice President); Sohail Wajahat Siddiqui, Managing Director,
Siemens Engineering Company Limited (Honorary Secretary); Iftikhar H.
Shirazi, Group Director Finance & Investments, Atlas Group of
Companies (Honorary Treasurer); Razi Ansari, Managing Director, Pfizer
Laboratories Pakistan Limited; Sikandar M. Khan, Chairman, Millat
Tractors Limited and Shafique Ahmad Siddiqui, Additional General
Manager, Adamjee Engineering Limited were elected as Members of the
Later, the Executive Committee in a meeting held
the same evening co-opted four more members including Moin M. Fudda,
Country Chief, Commercial Union Assurance Company plc., Zaffar A.
Khan, President, Engro Chemical Pakistan Limited; Khalid Rafi, Senior
Partner, A. F. Ferguson & Co. and Rob Zoon, Director Commercial,
Lever Brothers Pakistan Limited.
31ST BRANCH OF PICIC COMMERCIAL BANK LIMITED
PICIC Commercial Bank completed its first phase of
expansion plan 2002 by opening its third branch in NWFP. Under this
plan the bank will open remaining 11 branches before October 31, 2002
which will increase its existing branch network to 42 branches nation
wide. Chairman PICIC Commercial Bank Mr. Muhammad Ali Khoja gave the
welcome address and informed the gathering about the remarkable
endeavours put in by PICIC and PICIC Commercial Bank in difficult
economic scenario to attain the present position. On the occasion Lt.
Gen (Retd) Syed Iftikhar Hussain Shah, (M). SBT addressed the
gathering and praised the achievements of new management which has
completed its first year of operations with flying colors. PICIC
Commercial Bank came under the umbrella of PICIC — country's oldest
and most financially sound DFI on 26th February 2001. Since then a lot
of structural and operational improvements have been made by the new
management to keep the bank in the stream of profitability and growth.
With this new strategy in place the bank achieved agility to respond
quickly to challenging client demands and fulfilling stockholders
expectations. The bank has also taken in principle approval from SBP
to establish its branches in Afghanistan and has signed an MOU for an
exchange company in Dubai. With these achievements soon PICIC
Commercial Bank will enter in the stream of international banking.
Not ignoring its economic responsibility towards
the country, PICIC Commercial Bank has extended credit to small &
medium enterprises and deserving farmers/growers, so as to enable them
to achieve self-sufficiency. Another unique feature of the bank is to
extend Talimi Loans to the students of various universities and
institutes which is receiving overwhelming response. By virtue of this
product PICIC Commercial Bank is meeting its social responsibility of
improving quality education which is the need of hour.
NEW P&G OFFICE INAUGURATED
The opening of the new Procter & Gamble Office
Pakistan was held recently. Governor of Sindh, Mian Mohammad Soomro
inaugurated the new premises. Also present on the occasion were heads
of various multinationals and leading local organizations
In the new office the essence of Pakistan through
various architectural designs, the walls, the flooring have been
blended with modern technological aspects as well with video
conferencing, DECT phones, high speed internet access. Additionally
the office depicts people of P&G Pakistan, creative, logical
decision makers & very competitive. The new office also shows
P&G's commitment to Pakistan.
"The philosophy behind the new office premises
is to blend the cultural traditions of Pakistan with the state of the
art technology so that we can truly emphasize our objective of
operating in Pakistan as a Global Local Company", said Hanspeter
Heissen, General Manager Procter & Gamble Pakistan.
He also briefed on various social developments and
educational programs that P&G has initiated in Pakistan in an
attempt to improve the lives of consumers.
He emphasized on the fact that P&G Pakistan is
totally committed to the development of the country and its people
through different programs like Safeguard School Program, Always
School/College Program, Pampers Hospital Program and Ariel "Help
the Needy" etc.
In his speech, Governor of Sindh, Mian Mohammed
Soomro appreciated the fact that P&G has taken the step of
immersing deeply in the cultural traditions of the country and thereby
truly providing a testimony of the fact that while the company is
global it operates according to the dynamics of local market.
HSBC PROMOTES TRADE SERVICES
HSBC has launched a new marketing campaign across
the Asia-Pacific region promoting trade services.
The campaign, beginning 17 June, will appear in
major international weeklies and dailies, including Newsweek,
Businessweek, The Economist, The Far Eastern Economic Review, The
Asian Wall Street Journal and The Financial Times. Alan Wilkinson,
Head of Trade Services Asia-Pacific said: "The new campaign makes
a clear and powerful statement about what HSBC Trade Services stands
for. Our advertising campaign will show that anyone who banks with
HSBC Trade Services can benefit from our local insights and global
The campaign promotes trade services at The
Hongkong and Shanghai Banking Corporation Limited through a series of
real examples of how the bank helped customers grow and develop their
Peter Waterhouse, Chief-Executive Officer of HSBC
in Pakistan said: "HSBC strongly believes in working closely with
our customers in order to provide tailor made solutions to their
needs. This is particularly important where the financing of
international trade is concerned. Our customers want real solutions to
meet the challenges they face. With our international reach and strong
local knowledge we can help them exploit opportunities and become
partners in their long-term growth."
PACRA MAINTAINS THE RATINGS OF SONERI BANK LIMITED
The Pakistan Credit Rating Agency (PACRA) has
maintained the long-term rating of 'AA-' (Double AA minus) and a
short-term rating of 'A1+' (Single A One plus) for Soneri Bank Limited
(SBL). These ratings denote a very low expectation of credit risk
emanating from the very strong capacity for timely payment of
financial commitments. The ratings are applicable to the senior
unsecured creditors of the bank.
Syed Imtiaz Hussain Gilani, NWFP Minister for
Education and Information said sustained endeavours must be made to
raise the literacy rate particularly in the less developed regions of
the countries. Talking about literacy rate in the Federally
Administered Tribal Areas (FATA) he said it was abysmally low.
"You would be shocked to learn that the literacy rate in FATA was
as low as 2 per cent, he said". The minister further said the
government of NWFP is making sincere and sustained efforts to raise
the literacy level in FATA by providing the children of that area
access to education. In this connection he said it is planning to
establish welfare schools with private sector collaboration. He lauded
the decision of Preston to extend full support to NWFP Government's
endeavours in this direction. Its commitment to establish the first
such school by the name of "Preston Welfare School" in
Khyber Agency, with its own resources, is a proof of this fact. This
significant contribution being made by Preston will truly help reduce
the yawning disparity that currently persists vis-a-vis education,
between the fortunate and the less fortunate in the province of NWFP
in particular. Minister Gilani said this while addressing a large
gathering of students, parents, faculty and management of the Preston
Institute of Management, Science and Technology (PIMSAT), at an award
distribution ceremony held at the Institute's campus in Islamabad.
The NWFP Education Minister said that the present
government is giving top priority to education. He said that real
development in the country would be impossible, without developing the
precious human resource and involving the vast majority of the
educated human resource in the development process. Mr. Gilani said
education is a highly capital-intensive social sector component. The
Government alone cannot meet the demand for resources by this vital
sector, and that exactly is the reason why it has adopted a policy of
encouraging the private sector to contribute towards its promotion and
The Minister eulogized the contribution made by
Preston Institute of Management, Science and Technology in the field
of higher education in the country. Preston's nineteen long years of
dedicated and untiring efforts to provide top quality education to its
students' merits recognition by the government and every segment of
the society, he said. He congratulated the students who received
commendation certificates and shields for their outstanding
performance in their respective examinations, and expressed the hope
that they would continue to work hard to attain even better positions
and earn laurels for their institution and their country.
Earlier, welcoming the chief guest, the Executive
Vice President of Preston Mr. Abdul Hamid said the Institute was truly
honoured by the presence of the NWFP Minister for Education and
Information, Syed Imtiaz Hussain Gilani at the award giving ceremony
of the Institute. He profoundly thanked the minister for making it
convenient to grace the occasion in spite of his heavy official
preoccupations. At the end, the minister was presented a Memento of
the Institute by Mr. Abdul Hamid, Preston's Executive Vice President
as a token of thanks and appreciation.
APTMA APPRECIATES LOCAL SALE OF COTTON BY TCP
Mr. Nadeem Maqbool, Chairman APTMA has thanked Mr.
Abdul Razak Dawood, Federal Commerce Minister for directing the
Trading Corporation of Pakistan to offer 50,000 bs of raw cotton to
the domestic textile industry. He appreciated this as a timely move
aimed at providing good quality cotton to the industry with nearly two
months before the new season.
Mr. Nadeem Maqbool stated that the country's cotton
consumption had increased due to increased spindle capacity installed
over the past two years and Pakistan now needed more cotton than the
crop of 10.3 million bales. He urged the Commerce Ministry not to sell
the cotton held by TCP to our international competitors at low prices
as the industry was willing to pay better prices. He said that the TCP
should offer the entire stocks held by them so that the industry could
be assured of cotton supplies. Although we welcome the first step in
releasing 50,000 bales, the second tender should be announced
He referred to the 02 July tender and said that the
level of participation very clearly indicated that the cotton was
needed by the industry. The prices offered also indicate that the
industry was paying a better price than the foreign buyers. The local
mills had offered a price of Rs. 1950/for Grade III which was almost
equal to the price offered by foreign buyers for Grade I clean cotton
offered in the last export tender. APTMA has always advocated that the
cotton purchased by TCP should be offered to the highest bidder as
nothing could be gained by exporting it at low prices.
The Chairman APTMA criticized the stand of PCGA in
opposing the sale of cotton by TCP to the local mills. The stocks with
ginners had come down substantially and still the ginners were
insisting for the Government to bail them out due to incorrect
business positions taken by them. The stock of cotton available with
the ginners was of very low quality and would be purchased by lower
quality manufacturers and open end mills till the end of the season.
He urged the PCGA to desist from exerting unfair and unjust pressures
on the Government.
COMPUTER MARKETING CO.
CMC was established in 1984 with branches in four
major cities of Pakistan, Lahore, Karachi, Islamabad and Faisalabad
with its Head Office also located in Lahore.
At CMC, we focus on bringing state of the art
Computing Technologies to our customers according to the highest
international standards. The professionals at CMC with their
collective efforts, apply their best ideas, abilities, knowledge and
experience, along with excellence in service and support, to provide
customers fully integrated cost effective "IT Solutions". We
are committed to a continuing leadership role in the technological
advancement and development of Pakistan's IT industry to enable it to
move ahead and meet the challenges of the New Global Enterprises in
today's dynamic world.
CMC also offers high-level expertise in high-tech
equipment such as Compaq, APC, Printronix and Centralion.
We at CMC are
marketing the entire Compaq PC and PC server range, starting from
pocket PC, commercial desktop and portable products, consumer PCs up
to fault-tolerant business-critical solutions, and communications
products. Compaq is one of the top four leading brands of the world
and holds the major share in the local market.
Considering the power conditions CMC is well equipped in supplying the
power protection systems from the world's # 1 brand APC. These
uninterrupted Power Systems are built for any business environment,
starting from 400VA the range goes up to 480KVA. CMC is playing a key
role in minimizing the downtime of mission-critical applications
running on the high-end server machines through its excellent support
services and most reliable APC products.
distributor for this high-end shuttle matrix printer entire range, CMC
holds 95% + of the market share in of line printers. The 500LPM
printer is the product of choice for majority of the financial sector
and many large corporate in Pakistan and now with the addition of the
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those who are dependant on overwhelming printing needs.
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