July 22 - 28, 2002




When customers opt for shell, they opt for quality fuels. This was evident to the large crowds converging at Park Towers to celebrate Shell's Quality Weekend, where numerous Shell offerings were being presented to customers and together they were informed about the many unique aspects of Shell fuels. One of Shell's Quality Control Units (QCU) was parked outside the  mall to demonstrate to the customers how quality of all 

Shell  fuel is checked and maintained. Shell's QCU network is the most widespread & comprehensive in the country, offering quality and quantity checks at all Shell & PBS sites in Pakistan. Customers showed a keen interest, and admired the range of equipment used for Quality assurance. QCU officers informed customers of the Quality Control process, and answered their questions.

Inside, the shopping mall took on a festive look, decorated with countless Shell Quality Weekend balloons, banners & flags. Fuels, Lubricants (Helix) and Select stalls were set up in the Park Towers lobby. The stalls offered people information about Shell products, and a chance to play games & win tons of prizes. Lucky draws were held every two hours giving people a chance to win a range of mega-prizes.

Customers were thrilled with all the arrangements and the response was incredible. On both days, people queued for hours for a chance to play the Shell theme games. Crowds cheered as participants attempted to 'Head for Shell... Head for Prizes', or 'Select a Fortune' or 'Hoop-a-Lube'. The show's compere roamed the floor and talked to customers. A camera following him provided a live video feed to a projection screen so customers could actually see themselves on TV. People said that they appreciated Shell's efforts to bring them an event that was unique, entertaining and informative.


Dr. Abdul Wahab has joined Mohammad Ali Jinnah University, Karachi as its new president (Vice- Chancellor). Dr. Wahab brings with him rich experience of being Director IBA for 18 years, where he introduced several job-oriented programs and developed close linkages with the Industry.

Dr. Wahab also served as Dean, Faculty of Business Administration, University of Karachi, for 12 years. As Vice-Chancellor, University of Karachi, Dr. Wahab introduced several new programs and brought complete academic, financial and administrative discipline in the largest university of Pakistan.

Dr. Wahab has an MBA from IBA, another MBA (International Marketing) from Indiana University, USA, and a PhD (International Business) from the University of British Columbia, Canada. He has also attended courses in International Marketing at Harvard University.

As a consultant to the Export Promotion Bureau for seven years, Dr. Wahab organized training programs for exporters in major cities of Pakistan in collaboration with local chambers of commerce and industry.

Dr. Wahab has several research publications to his credit. At the invitation of Japan Foundation, he spent one year in Japan to complete an in-depth study on Japanese management and export marketing strategies. Dr. Wahab was also associated with UNDP training programs for East and South Asia. He contributed a lot to the training programs organized in this region. He has visited numerous countries in connection with his professional responsibilities. His key areas of interest include multinational corporations, foreign direct investment and International business. Dr. Wahab was a member of the Board of Directors of Habib Bank. He was also a Director of Karachi Stock Exchange. In recognition of his services to the cause of education, Dr. Wahab was awarded Sitara-e-Imtiaz by the President of Pakistan.


PICIC Commercial Bank Limited under its expansion plan of opening of 22 more branches during the year 2002 opened its 32nd branch at Islamabad Stock Exchange which v/as inaugurated by Mr. Altaf M. Saleem, Federal Minister for Privatization, Govt. of Pakistan.

On this occasion, Chairman of the Bank, Mr. Muhammad Ali Khoja, delivered welcome address to the guests and informed the sound reasons for purchasing the bank in February 2001 by PICIC. He also enlightened the guests about PICIC Vision - 2005 which aims to achieve diversification of business in related financial fields to make PICIC a "True Financial Super Market".

Mr. Muhammad Bilal Shiekh, President & CEO of the Bank, while speaking on the occasion, highlighted the unprecedented results achieved by the Bank, which registered exceptional growth in all key financial areas as on 30th June, 2002.


MCB-Refurbished, Recorder House Branch at Karachi inaugurated jointly by Mr Arshad Zuberi, Dy Chief Executive, Daily Business Recorder and Mr Mohammad Aftab Manzoor, President Muslim Commercial Bank Ltd in a simple ceremony attended by distinguished customers and senior executives of the Bank.


The Financial Institutions Division of Muslim Commercial Bank Limited (MCB) in conjunction with Aqeel Karim Dhedhi (AKD) Securities (Pvt.) Ltd. have advised and arranged the second tranche of Dawood Leasing Term Finance Certificates (TFCs). MCB is the largest private sector commercial bank in Pakistan while AKD Securities, joint arranger and advisor for the issue, is one of the largest brokerage firms operating in the Karachi Stock Exchange.

The Securities and Exchange Commission of Pakistan (S.E.C.P.) has given approval to Dawood Leasing Company Limited to issue TFCs for Rs. 250 million. The TFC has been rated "A+" by PACRA and is being launched approximately ten months after the first tranche, which was successfully oversubscribed in September 2001. The second tranche is scheduled for public subscription by the end of this month. Out of the total issue size of Rs. 250 million, commitments for Rs. 200 million have already been received through the pre-IPO placement and the balance Rs. 50 million is being offered to the general public. The issue is offering a minimum return of 12.25% per annum and this attractive minimum return in today's decreasing rate environment is expected to draw finds higher than the offered amount. In order to enable as many investors to avail of this attractive return, S.E.C.P. has allowed a Greenshoe option whereby, in case of over subscription, Dawood Leasing will have the option to retain up to Rs. 95 million apart from the public subscription of Rs. 50 million.


The Managing Director of Pakistan State Oil (PSO), Mr Tariq Kirmani, on Wednesday said that the first-ever plastic-card in the POL industry was a truly innovative idea that promises immense benefits to the company's loyal customers.

Mr Kirmani was speaking at the launching ceremony of the 'PSO Loyalty Card' at a company-owned and company-operated (CoCo) outlet in the Clifton area.

Mr Kirmani urged the dealers to attract new customers through aggressive marketing measures such as the PSO Loyalty Card. He also emphasized the importance of continued training of station attendants.

PSO's technology partner in this strategic new e-business venture is M/s ORIX Leasing that has provided PSO with the most advanced state-of-the-art Hypercom hardware and software.

The card entitles customers to earn 'PSO Loyalty Points' on every purchase of fuel or lubricant. The points accumulated can be later redeemed from PSO's Merchant/Consortium that covers a wide range of categories to choose from or from PSO's own stations that offer petrol, hi-octane, diesel or lubricant.

The card, which is free-of-charge (for a limited period), is being offered first in Karachi, Lahore and Islamabad/Rawalpindi. It will remain valid for a year and feature as a 'discount card' at a number of leading merchants and restaurants. The launch shows that consumer is and will always continue to be most important to PSO, the largest oil marketing company in Pakistan.

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The half yearly accounts of the PICIC Commercial Bank Ltd., depicting excellent performance have been approved by the Board of Directors of the Bank in their meeting held on 15th July 2002. Results have shown unprecedented growth in all the key financial areas over the corresponding period of last year i.e deposits grew by 90%, profit increased by 41%, trade related business enhanced by 75%, advances increased by 64% and classified advances reduced by 55%.

The notable volumes and increase in market share have been viewed with appreciation by the Board of Directors. This has been the result of unstinted support and untiring efforts of the management and staff.

The bank's equity base is Rs. 1.084 billion. Within a very short period of time, PICIC Bank has established a commendable track record and generated very impressive returns for both, the depositors and the share holders. The Board of Directors appreciated efforts put in by the management and staff and affirmed their faith in the dynamic leadership and hoped that remarkable achievements will continue in the current year and beyond.

Mr. Tariq Kirmani, Managing Director, PSO, launching the PSO Loyalty Card at a company-owned and company-operated retail outlet in Clifton.