ANNOUNCEMENT

 

Sep 09 - 15, 2002

 

FEDEX RECEIVES CIO-100 AWARD FOR TECHNOLOGY AND PROCESS INTEGRATION

FedEx Corporation (NYSE:FDX) is a winner of the prestigious CIO-100 award from IDG's CIO magazine. The 2002 CIO-100 award recognizes organizations around the world that excel in positive business performance through integrated processes and technologies.
To provide a vision of ever-changing business trends, the focus of the CIO-100 changes each year.  This year CIO honors 100 companies  that demonstrate integrated technologies and procedures to improve products, services and relationships with partners and clients.

"Now, more than ever, companies rely on integrated applications that freely share information," says Abbie Lundberg, Editor in Chief, CIO magazine. "This year's CIO-100 award recipients are being honored because their companies developed an integrated enterprise to enhance their business, from improving relationships with customers to creating a seamless value chain."

Complete coverage of the 2002 CIO-100 is featured in the August 15 issue of CIO magazine and at www.cio.com.

The FedEx companies deliver nearly 5 million packages daily to 212 counties and offer the broadest array of transportation, e-commerce and supply chain solutions in the world.

The recipients of this year's CIO-100 were selected through a three-step process. First, companies filled out an online application form. In addition, CIO staff and members of its expert panel nominated companies they deemed best fit the award criteria. A team of CIO editors and writers reviewed the application forms and expert recommendations and voted on the final 100. The judging objectives were to recognize positive business performance through integrated technologies and procedures.

With annual revenues of $21 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, FedEx Ground, FedEx Freight, FedEx Custom Critical, and FedEx Trade Networks.

PSO REVISES HSD PRICE

As part of the deregulation process, the federal government has authorized oil-marketing companies to notify the maximum ex-depot sales price of High Speed Diesel (HSD).

Accordingly, Pakistan State Oil (PSO), the largest oil-marketing company in the country, has revised the HSD price by 2.1 per cent instead of the 5.4 per cent increase in the ex-refinery price as notifies by the Oil Companies Advisory Committee (OCAC).

The new price of HSD with effect from September 01, 2002, at 29 designated locations/ depots under the deregulated regime will be 19.48 paisas per litre.

Although, there was a substantial increase in international oil prices and ex-refinery price, PSO has made only a marginal increase and passed on the balance to the benefit of consumers. The company has achieved this saving for consumers through efficient import management and reduction in operating costs in line with its corporate objective.

HUBCO BOARD OF DIRECTORS ANNOUNCE FINAL DIVIDEND

Hubco is pleased to announce that its Board of Directors in its meeting in London has recommended a final dividend, of 36% (Rs.3.60 per share) for the year ended June 30, 2002. The announcement is in addition to 40% (Rs.4 per share) interim dividend already paid on April 4, 2002.The Annual General Meeting (AGM) of the Company is due to be held in Islamabad on October 08, 2002 to approve the annual accounts of the Company and approve and declare the Total Dividend.

MCB AND PTCL SIGN AN MOU FOR ELECTRONIC BILL PAYMENT

Mohammad Aftab Manzoor, President and CEO of Muslim Commercial Bank (MCB) and Akhter A. Bajwa, Chairman PTCL signed an MOU for electronic bill payment facility, at Islamabad.

Under the arrangements the customers will be able to pay their monthly telephone bills electronically through the MCB ATM's using the MCB ATM and Cash Cards. The facility is expected to become operational by October 2002. This will shortly be followed by extending the facility to conveniently located MCB Point Of Sale (POS) Terminals at number of locations.