EFU Managed Growth Fund, the unit-linked fund of EFU
Life Assurance Ltd crossed the Rs. 1 billion mark on 28 September 2002.
This significant milestone in the progress of the Company has put EFU
Life in the league of large asset managers of the country.
The money invested in the Managed Growth Fund belongs to the
policyholders of EFU Life's unit-linked savings life insurance policies.
EFU Life pioneered the concept of unit-linked life insurance policies in
Pakistan which is the most modern form of life
insurance saving products. The distinguishing
feature of unit linked contract is that the investment benefts are
defined by the number of units credited to the policyholder at the date
of payment and the investment gains are shared out in proportion to the
policyholder's share of the fund.
The EFU Managed Growth Fund was established on 24
March 1994 and has grown to this size within a short span of time with
the trust of the clients in the performance of the Fund. With an ever
increasing client base, the Fund is now expected to grow exponentially.
The Managed Growth Fund is managed by an investment
advisory committee of experts. The Company is committed to provide the
best return to its policyholders and this is evidenced by the
performance of the Fund. Over the last year the Fund's bid price showed
a remarkable increase of more than 20%.
EFU Life is the largest private sector life insurance
company with 60% share of the individual life market.
TO INTRODUCE NEW 4-STROKE MOTORCYCLE ENGINE OIL
Pakistan State Oil (PSO), the largest oil marketing
company in the country, will soon introduce a new 4-stroke motorcycle
engine oil, the Castrol Activ 4T.
The Castrol Activ 4T will be premium quality engine
oil blended from highly refined base stocks and specially selected
Meeting the highest performance level of API-SG &
JASO MA specifications, the new engine oil will offer specially
formulated "Active Protection Molecules" that cling to the
engine and transmission parts by leaving a protection film that provides
a shielding effect even when the engine is turned off.
This will give continuous protection during starting
and warm-up when other oils are not fully effective.
Castrol Activ 4T — initially being introduced in
1-liter cans — is fully compatible with the use of unleaded fuel
currently in the market.
MINISTER FOR COMMERCE WANTS
TEXTILE INDUSTRIALISTS TO BE AMONGST FORTUNE 500 COMPANIES
Mr. Abdul Razak Dawood, Minister for Commerce,
Industries & Production addressed Members of the Textile Sector at
Aptma House, Karachi on 8th October 2002. The Minister noted with
satisfaction the significant investment of over $ 775 made by the
Textile Industry during the last two years in upgradation of textile
production facilities. The Minister assured the industrialists that the
government will continue to support the free trade mechanism and will
try to provide all necessary facilitation to the Textile Industry and
its exports. The Minister appealed to the textile industrialists to,
wholeheartedly support the cleaner cotton program and, in particular,
buy cotton newly developed in the provinces of Balochistan and NWFP.
The Minister also advised the textile industrialists
to prepare and implement a strategic plan for the Industry so that
several large textile manufacturing and exporting companies could emerge
and form part of the prestige conglomerate of fortune 500 companies. To
achieve this goal, the Minister advised to Aptma Members to
professionalise their companies and rapidly move up the value-added
change of textile products.
LAUNCHES UPGRADED CARTAGE CONTRACTOR TANK LORRIES
Pakistan State Oil (PSO), the largest oil marketing
company in the country, on Tuesday launched its upgraded cartage
contractors' tank lorries in general fleet.
Inaugurating the first fleet, the Managing Director
of PSO, Mr Tariq Kirmani, said that the success of two Cartage
Contractors Conferences, which the company had organized for the first
time this year, had established the fact that contractors were also
interested in improvement.
He said that dealers and cartage contractors were two
very important links in the supply chain of petroleum products without
which customer satisfaction was impossible.
"Change is essential in the world," Mr
Kirmani told a large number of cartage contractors present at the PSO
House auditorium. "And the changes in your tank lorries will
benefit your business."
The PSO managing director said the upgraded fleet was
a one-time investment for cartage contractors that would ensure quality
and quantity of products being provided to PSO customers. "It is an
investment that will bring cartage contractors more earnings."
The managing director announced the company will
select two drivers for Umra, who fared best in the PSO Defensive Driving
Training and adhered to Health, Safety and Environment practices.
The General Manager Logistics, M Z Tamimy, said that
upgrading of tank lorries was a gigantic task, which has been achieved
due to tremendous cooperation extended by cartage contractors.
The new upgraded tank lorries have been provided with
the state-of-the-art vehicle tracking system and pilfer proofing, which
enables the contractors and the company to monitor their movement
The system also provides means of avoiding loss of
product in case of accidents through use of better and effective
The new upgraded vehicles will enhance customer
confidence and image of the company and also improve the standard of
The managing director later distributed certificates
among five cartage contractors who are the first to offer their fleet
'PRIVATE SECTOR IS READY TO
FACILITATE GOVERNMENT IN PROMOTING E-COMMERCE IN PAKISTAN'
"Private sector has made a lot of important and
strategic contributions to the e-commerce in Pakistan and will continue
to do so. However, these efforts have mostly been within individual
capacities and lack proper recognition and government support."
Mohammad Sohail, Managing Director of Transaction Processing System (TPS)
said at the press conference on the sidelines of the Product Show
"Switch Connectivity and Beyond", organised by the TPS.
The show, held between October 2, 2002 and October 3,
2003, was the first of its kind in Pakistan. It demonstrated
state-of-the-art solutions from different national companies; all
interconnected and working live, in a seamless manner. This was a
demonstration of the basic plumbing that is required before e-commerce
can permeate in Pakistan. Besides TPS, the representatives of NCR
Corporations, Gestetner Pvt. Ltd., InfoTel Pakistan, VectraCom, ZRG
International (Pvt.) Ltd. and 2BTechonologies Pvt. Ltd. participated in
"Our intention is not only to educate the
financial industry but also send a message to the government and policy
makers that the industry is ready to work with the government and the
financial industry," Sohail added.
While replying to the a question, Sohail said that
though the support from the private sector was overwhelming but the
enthusiasm and the commitment of the private sector would have been
doubled if the government also showed their presence in the show.
On the relationship between the government and the
private sector, Sohail said that government is the facilitator and the
private sector is the enabler. Once these roles are understood and
applied positively the synergy arrives and causes a significant impact
on the economy. "Private sector can bring the necessary technical,
intellectual and financial resources to build, promote and use the
required infrastructure. We are very fortunate that we have the required
technical skills within Pakistan that are capable of building and
deploying even the most complex electronic trading infrastructure. It is
only a matter of mobilising these skills and combining their individual
skills to give a collective synergy. The support of the government to
local private sector has to be in letter and spirit."
Sohail expressed confidence that the private sector
can facilitate promotion of e-commerce by synchronising its efforts with
the government to ensure e-commerce readiness in its solution range as
per standards jointly defined by the government and the industry.
Transaction Processing Systems (TPS) are experts in
switching and transaction processing technologies. It deployed the first
online ATM Shared Switch in Pakistan based on its technologies that are
jointly owned by ABN Amro, Askari Bank and Habib Bank Limited. TPS
developed and introduced the first web-based online ATM
network-monitoring tool in Pakistan.
TERADATA ANNOUNCES AN INDUSTRY
FIRST: DATA WAREHOUSING FOR ALL
Teradata, a division of NCR Corporation (NYSE: NCR),
announced Teradata(®) Warehouse 7.0, a suite of software with close to
150 technical enhancements that puts active data warehousing in the
hands of all decision-makers, whether they be chief executives or
call-center representatives. It marks the first time in the history of
data warehousing that any company can extend decision-making beyond
corporate management to all functions across the organization,
optimizing operational and strategic decisions.
"Teradata Warehouse 7.0 is the most aggressive
release of new performance and functionality features in the history of
Teradata," said Stephen Brobst, Teradata chief technology officer.
"Customers will benefit from enhanced performance and functionality
for delivering data warehouse solutions that demand extreme service
levels in the areas of performance, scalability, data freshness and
"The technical advancements took two years to
develop in order to assure that we delivered ease-of-use to end-users
and database administrators," said Alan Chow, senior vice
president, Teradata research and development. "Teradata Warehouse
7.0 significantly extends active data warehousing capabilities and
extends our lead over competitive products in the marketplace."
Teradata Warehouse 7.0 is the first and only data
warehouse solution to simplify complex data warehouse architectures by
consolidating all decision-support databases into one central,
enterprise data warehouse. The consolidation of data marts, operational
data stores (ODS), and analytic servers running applications like data
mining makes it practical to integrate historical and current
operational data within the same enterprise data warehouse. Front-line
employees are able to make better decisions because this consolidation
of data provides a holistic and insightful view of the customer from
which to take action.
In addition, cost-conscious corporations recognize
that the consolidation of all the company's data (both current and
historical) into one central enterprise data warehouse eliminates the
expense and headache of administering redundant databases.
"For nearly 20 years, Teradata has always
advocated and implemented integrated, centralized data warehouses, to
the significant business benefit of our customers," said Vickie
Farrell, vice president, Teradata warehouse marketing.
"Organizations that instead took the federated data-mart approach
to data warehousing have ended up with a proliferation of data marts, an
expensive problem they are now struggling to fix."
According to Farrell, many companies are just now
beginning to implement operational data stores. With Teradata Warehouse
7.0, they can avoid making the same costly mistake. As experience has
proven with data marts, integrating the operational data store with the
data warehouse is not only more cost-effective, but it enables a whole
new set of tactical business-intelligence applications that have huge
top- and bottom-line potential.
The struggle for many companies has been to improve
the productivity of operations people who every day make on-the-spot
decisions that have an enormous cumulative impact on everything from
customer recruitment and retention to fraud detection and inventory
management. Even a marginal improvement in the quality of their
decisions can mean millions of dollars in cost savings, not to mention
gaining a competitive advantage.
Teradata Warehouse 7.0 customer-driven enhancements
focus on key areas that improve system availability, allow access by
tens of thousands of concurrent users, keep data fresh, process mixed
workloads using historical and current data and optimize the way the
system handles queries. Without these capabilities, individuals who are
charged with making minute-by-minute decisions can't do their jobs as
effectively. They require fast, consistent and predictable response time
to their queries.
74TH MEETING OF WORKERS
Mr. Iftikhar Ali Malik, President-FPCCI nominated
Sheikh Javaid, Life Member-FPCCI and Chairman of Export Processing Free
Zone Committee to attend the 74th meeting of Workers Welfare Fund held
on 5th October 2002 at Lahore under the aegis of Ministry of Labour,