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COVER STORY

"CALTEX OIL PAKISTAN LIMITED CONTINUES TO EXPAND"
—ARSHAD NASAR, MANAGING DIRECTOR

July  22 - 28, 2002   
ISSUE # 29  

Caltex is a part of Chevron Texaco Corporation, the third largest global Energy Company in terms of global oil reserves and the fourth largest in terms of global oil and natural gas production. Caltex has operated in the sub-continent since 1938 and apart from the main oil storage facility at Karachi, has 12 depots throughout the country, which includes three inland terminals in Rawalpindi, Machike and Shikarpur. The company's retail network consists of 456 outlets located throughout the country as well as wide spread distributor network catering to the demands of the industrial as well as the Agricultural sectors. Caltex was the first oil marketing company to introduce manymodern concepts in the industry in Pakistan. 

A hallmark of its technical advantage in the industry is its state-of-the-art computerized
lubricating oil blending plant, which has been set up and commissioned at the West Wharf Terminal, Karachi.

 

MANGO
Though the volume of mango exports this year is expected to surpass that of last year's total the same is feared not result in foreign exchange earnings or profits to the exporters. This is primarily due to increased prices of the fruit and insurance costs and the continuous shedding of value by dollar against the rupee.

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NATIONAL BANK
National Bank of Pakistan announced its much awaited financial results for the year 2001. However, declaration of 12.5 per cent dividend was lower compared to the expectation of analysts. However, it will not be appropriate to compare year 2001 results with those of last year, because of merger of NDFC with the bank during the year under review.

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