Addressing the participants at the conclusion of the
workshop, Dr. Firoza Ahmed said personal and professional enrichment was
extremely vital to a person's success not only in his or her
professional career but also in ones personal and social life. She said
it is extremely important for an individual to keep himself or herself
abreast of the developments taking place in the field of inter personal
communication and inter personal relationship, to ensure successful
attainment of not only their personal goals in life but also the goals
of the organization they are working for. She congratulated the
participants to the workshop, (who, besides others, comprised of the
program and customer relations staff of Preston), for participating in
the workshop with enthusiasm. Dr. Firoza expressed the hope that all the
participants would apply what they learnt during the workshop in their
day to day dealings with people for their own benefit and, if associated
with an organization, for the benefit of their organization.
In his concluding remarks on the occasion, Dr. Abdul
Basit, Chairman Preston Institute of Management, Science &
Technology, Karachi, lauded the efforts of Dr. Firoza Ahmed in putting
together such an excellent workshop. He expressed the hope that those
who participated in the workshop must have gained a lot from it, and
would benefit tremendously in their personal life and professional
career. Dr. Basit also eulogized the excellent presentations made on the
occasion by the participants. He later distributed certificates of
participation among all the participants to the workshop.
NEW TENDER TO COST WAPDA A LOT
Pakistan State Oil (PSO) regretted that Wapda's
reckless handling of its furnace oil purchases is going to cost the
common man a bundle in spiraling electricity costs.
A company spokesman pointed out that the fresh lowest
legal bid Wapda received on September 27 was a lot higher than that
offered by PSO in the recently cancelled second tender. As a result, the
power utility would end up paying an additional amount of Rs 29 million
for its 110,00 metric tonnes import.
The spokesman said that Wapda had made a mockery of
the tender process and totally ignored transparency by considering a bid
of Gulf Pak Petroleum, Islamabad — a hitherto unknown entity in the
oil sector — which was non-responsive (or in other words not legal) as
they had neither submitted the required bond nor were pre-qualified.
In all, 10 bidders were present during bidding
process at Wapda House, Lahore. Five of them regretted, three were
conditional and one non-responsive. The only one group that presented a
legal bid was Independent Petroleum Group (IPG) of Kuwait, which offered
US$16.5 per metric tonne for the first cargo and US$19.5 per metric
tonne for the remaining cargo.
When Wapda floated its first international tender for
FO in August 2002, PSO won that tender by offering the lowest price than
what was offered by its international competitors. Wapda saved Rs 4.3
million due to PSO's competitive bid.
On August 31, 2002, PSO had won Wapda's second
international tender for Fuel Oil by bidding the lowest among the
contenders, including international companies. i.e. US$12.09 per metric
tonne, thus, PSO had offered a saving of Rs 3.5 million to the power
However, Wapda later scrapped that bid violating the
sanctity of the bidding process. That action by Wapda was highly
protested by PSO, which did not participate in the rebidding as a
protest. As a result, the lowest valid bid that Wapda received from an
international company was US$16.5 per metric tonne, much higher than
earlier quoted by PSO and rejected by Wapda.
While PSO has been trying to assist Wapda by
providing competitive rates, which included hospitality for import of
Fuel Oil and extending credit facilities on various occasions incurring
huge financial costs, Wapda, on the contrary, has all along behaved in
extremely unprofessional and un-businesslike manner.
PSO has suffered because of Wapda's delays in due
payments such as Rs 802 million for the first LineFill of Hubco that
Wapda has not paid since 1995 despite its commitment; Rs 3,221 million
due as price differential relating to KAPCO supplies and an outstanding
Rs 163 million against regular supplies of Fuel Oil.
The spokesman said that Wapda's abrupt refusal to
uplift tabled demand of 25,000 metric tonnes of FO in the second
fortnight of September has also seriously hampered the business plans of
PSO, the only national public sector organization competing with the
multinationals, and PSO reserves its right to take appropriate measures
to safeguard its financial and other business interests, the spokesman
Since PSO is not arranging/importing Wapda's Fuel Oil
quantities, the company would not accept any responsibility in case of
shortage of product, which may result in loadshedding all over the
country, the spokesman concluded.
WAQAR A. CHAUDHRY ELECTED AS
9th Annual General Meeting of Modaraba Association of
Pakistan was held on 23rd September, 2002 at Pearl Continental Hotel,
Karachi. Waqar Ajmal Chaudhry, Chief Executive, First Grindlays Modaraba
was elected as the Chairman of MAP for the next tenure with Khanzada
Yousaf Hassan Khan, Chief Executive, First Punjab Modaraba elected as
Vice Chairman, Azam Aziz Sakrani, Chief Executive, First Al-Noor
Modaraba, Saced Uddin Khan, Chief Executive, First Habib Bank Modaraba
and Ghulam Husain Mughal, Vice President, Al-Zamin Leasing Modaraba were
elected as Members to the New Executive Committee. Other Members who
will continue for another year with the new committee are, Mahmood
Ahmed, Chief Executive, First Crescent Modaraba, Muhammad Shoaib,
Director, First Habib Modaraba and Zubair R. Palwala, General Manager,
First UDL Modaraba.
On this occasion top three Modarabas who distributed
highest dividends for the period ended 30th June, 2001 were given
plaques. First Imrooz Modaraba with 46%, First Grindlays Modaraba with
33% and First Habib Modaraba with 22.50% cash dividends qualified for
the recognition and appreciation.
MERGER OF FORD RHODES AND SIDAT
Effective October 1, 2002, the professional practices
of Ford Rhodes Robson Morrow and Sidat Hyder Qamar & Co., shall
stand merged as Member Firms of Ernst & Young Global under the name
and style of Ford Rhodes Sidat Hyder & Co., Chartered Accountants.
The Management Consultancy practice shall, as part of the combined
Practice, continue under its existing name, Sidat Hyder Morshed
Associates (Private) Limited.
The combined Practice with its 22 Partners and 2
*Executive Directors shall be serving its clients from its Principal
Office at Karachi and branches at Lahore and Islamabad.
Sidat Hyder Morshed Associates recently organized
"Best Practices Day" — a one-day conference of the
"Best in Class Companies" in Karachi. Seen on the TCS stall (L
to R) Jamil Janjua, C:EO, TCS; Ebrahim Sidat, CEO & Country Managing
Partner, Sidat Hyder Morshed Associates; Najeeb Nayyar, Head of
Marketing, TCS and Tanweer Alam, Manager-HR Consulting, Sidat Hyder
Morshed Associates on the occasion.
The Karachi Sheraton Hotel & Towers celebrated
its 20th Anniversary with a grand reception, held at the Sheraton
Gardens. The event, organized in the grand 'Sheraton' style, was
attended by senior members of the diplomatic circle & local
government, and the corporate heads. Seen here is the Chief Guest of the
evening Governor of Sindh Mr. Mohammad Mian Soomro, Mr. Fadeel Wehbe,
General Manager of Karachi Sheraton Hotel & Towers, Mr. Moin Haroon,
General Manager, Arabian Sea Enterprises and Mr. Fahad Abu Sha'ar, Area
Director for Kuwait, Yemen, Saudi Arabia and Pakistan, Starwood Hotel
& Resorts Worldwide speaking to the audience at the reception.
ADHI WELL-13 STARTS PRODUCTION
Pakistan Petroleum Limited (PPL), the operator of
Adhi Mining Lease, has announced the presence of additional oil reserves
in Sakesar formation of Adhi Field and commencement of oil and gas
production from Adhi Well-13.
The Well-13 is expected to produce 2,500 to 3,000
barrels of oil and four to five million cubic feet per day of gas
enhancing field's existing daily oil/NGL production from 2,500 barrels
to around 5,000 barrels per day.
Adhi field is located in the districts of Rawalpindi
and Chakwal and is a joint venture between PPL, Oil and Gas Development
Company Limited (OGDCL) and Pakistan Oilfields Limited (POL). The field
currently produces 2,500 barrels of oil/NGL, about 65 tons of LPG and 20
million cubic feet of gas on daily basis. So far 13 wells have been
drilled in the Mining Lease Area and now the drilling of Adhi well-14 is
Adhi Well-13 was drilled at the optimum location
using the result of the 3-Dimensional Seismic Survey to test the oil
bearing Sakesar formation. The well was tested in June 2002 and based on
extremely encouraging results the well was completed to produce crude
oil from the Sakesar formation. Early production facilities were
installed on a fast track basis resulting in the commencement of oil
production within a short-period of three months.
The discovery is a result of an extensive exploration
and development program pursued by PPL, a 93% Government owned oil and
gas exploration and production company. PPL has played a pioneering role
in augmentation of the country's hydrocarbon reserves and contributes
around 35% of country's total gas production. The increase in oil
production from Adhi will provide a major boost to the government's
drive for increasing production from indigenous energy resources. The
enhanced oil production from Adhi will also help reduce the country's
heavy import bill and increase its foreign exchange reserves.
PSO INTRODUCES 'DEDICATED
LUBRICANTS CONTAINER SERVICE'
Pakistan State Oil (PSO), the largest oil marketing
company in the country, has introduced 'Dedicated Lubricants Container
Service', the first of its kind in Pakistan.
Inaugurating the service at a local club on Wednesday
night, the Managing Director of PSO, Tariq Kirmani, said the new service
was part of efforts to introduce quality in all aspects of sales and
operations in the company.
He then unveiled the new vehicle before a large
number of oil industry officials, advertisers, dealers, journalists and
Kalim Siddqui, General Manager Lubes and Chemical,
PSO, said that a total number of 30 dedicated 20- and 40-foot-long
containers will ply across the country to supply finished product at our
depots and warehouses.
He said the containers will also serve as moving
billboards for our automotive product range. They are painted in new
supergraphics with colorful images of product in scotch light prints.