Oct 07 - 13, 2002



The Preston Institute of Management, Science & Technology (PIMSAT), Karachi organized a ten-day workshop on "Personal and Professional Enrichment" at its Islamabad Campus. The workshop which concluded, was conducted by Dr. Firoza Ahmed, an eminent practitioner of community development and adult education, and a civil servant who has held various senior positions in the Federal Government.

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.


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 utility.

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 added.

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.


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.


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.


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 underway.

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.


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 company employees.

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.