companies which were established as market leaders in their sector in a short span. Munawar Baseer is a leading corporate management expert and has successfully undertaken reform, restructuring, business process re-engineering and technology applications in various sectors.

NEW HYUNDAI SANTRO

Dewan Farooque Motors Limited (DFML) unveiled the "All New Hyundai Santro", the only 1000 cc EFI car in Pakistan, during a press conference at a local hotel.

Powered by an economical and agile 1000 cc Hyundai Epsilon engine, the much-awaited new model of Santro is loaded with improvements made in all elements of automobile design i.e. Appearance, Convenience, Performance and Safety.

The All New Hyundai Santro carries an ultra-modern, softly rounded, stylish and sporty exterior styling. The multi-reflecting combination lamps at the front and the starburst lights at the rear are being introduced for the first time in Pakistan in the 1000 cc small car segment. .

The high suspension package has been specially designed for Pakistani roads, in order to ensure a smooth and, gentle drive even under rough road conditions. Advanced 13-inch ventilated discs have been installed to ensure dependable braking performance under demanding conditions. The advanced structural engineering, with specially pressed and formed steel sections make Hyundai Santro passenger compartment the safest in its class.

The safe, comfortable, airy and spacious interior cabin is equipped with a powerful 4-speed air conditioner, 4-speaker audio system, front seatbelts, rear package tray, the sporty white meter cluster and a multitude of storage spaces and convenience items.

A stunning example of modern automobile design; offering a full erray of dazzling new features, the "All New Hyundai Santro" is expected to capture the lion's share of the corporate as well as individual small car buyer's market.

Mr. Dewan Muhammad Yousuf Farooqui, MD Dewan Mushtaq Group and DFML, speaking at the press conference said that the launch of the "All New Hyundai Santro" is yet another manifestation of DFML's pledge to provide economical, high value, quality vehicles to the Pakistani customers. He further stated that having just completed the launch of the original five products planned; the company did not rest on its laurels and is now launching its first full model change in little over two-and-a-half years of the introduction of the first Santro.

PSO REDUCES FUEL OIL PRICES

Pakistan State Oil (PSO) on last Wednesday announced reduction in its price of High Sulphur Furnance Oil (HSFO). Effective October 16, 2002, the price of High Sulphur Furnance Oil (HSFO) has been reduced to Rs. 12,992 per ton from Rs. 13,117. The net reduction in the price is Rs. 125 per ton.

Mr. Abdul Hamid, Executive Vice President Preston Institute of Management, Science & Technology (PIMSAT), presenting the Institute's shield to Mr. Azam Jamil, Corporate Director Marketing, Serena-Pakistan.

PRESTON HOLDS SEMINAR ON "SERVICES MARKETING"

Preston Institute of Management, Science and Technology (PIMSAT), Islamabad organized a one-day seminar on "Services Marketing-Challenges and Opportunities" at the Institute's Islamabad campus. Mr. Azam Jamil, Corporate Director Marketing Serena Hotels-Pakistan made a detailed presentation on the subject to the participants who, beside others, comprised of Preston students, faculty and senior management.

Speaking on the occasion, the Corporate Director Marketing of Serena-Pakistan, Mr. Azam Jamil highlighted the importance of services marketing and the challenges and opportunities it offered to those in service oriented organizations and are engaged in marketing of services. Mr. Jamil said that on the face of it the services sector is enormously large and varied. He elaborately explained the sharp distinction between services marketing in the government (non-profit) sector, and the business and professional (profit-oriented) sector. Giving example of the United Kingdom, he said the government in the UK is a major provider of services. They range across legal, educational, health, military, employment, credit, communications, transportation and information services. Many of these services, he said, are provided on non-profit basis but others may act on a commercial basis. In sharp contrast to this are the business and professional services that are provided by airlines, banks, insurance companies, hotels, management consultants, solicitors, advertising agencies and marketing research companies. Mr. Jamil said marketing of business and professional services is, in fact, most challenging as it continuously puts the skills of a professional marketer to a grueling test.

At the end of the seminar Mr. Abdul Hamid, Executive Vice President of Preston Institute thanked Mr. Azam Jamil on behalf of the participants to the seminar and also on behalf of the students, faculty and management of Preston for delivering a highly stimulating lecture on a highly challenging and demanding field such as 'Services Marketing". He expressed the hope that the participants to the seminar would greatly benefit from what they gained by their participation. Preston's Executive Vice President, Mr. Hamid later presented the Institute Shield to the Guest Speaker, Mr. Azam Jamil as token of appreciation.

ARIF HABIB INVESTMENTS TO ACQUIRE KASB PREMIER FUND

Arif Habib Investment Management Limited, the Fund Manager of the Pakistan Income Fund (PIF) and the Pakistan Stock Market Fund (PSM) has agreed with Khadim Ali Shah Bukhari & Co Limited to take over the Investment Advisory role of the KASB Premier Fund. This take-over is subject to SECP approval and also subject to the approval of KASB-PF's shareholders. Once the process is complete, the Fund will be renamed to indicate membership of the Arif Habib Investments' family of Funds.

The KASB Premier Fund was launched in 1995 and has since been managed by Khadim Ali Shah Bukhari & Co Limited. KASB Premier Fund is a closed-end mutual fund, with net assets of around Rs. 400 million invested in good quality Shares and Term Finance Certificates (TFCs). The Net Asset Value of the KASB Premier Fund is currently around Rs.10 per share. Arif Habib Investments, with funds already under management of Rs. 750 million in the PIF and the PSM, will now cross the Rupees One Billion mark of funds under management.