Feb 18 - 24, 2002
JCR-VIS upgrades PICIC Commercial Bank Limited to
JCR-VIS Credit Rating Company Limited (JCR-VIS) has
upgraded the medium to long term rating of PICIC Commercial Bank
Limited (PCBL) to A-(Minus) from BBB+(Triple B Plus), while the short
term rating has been maintained at A-2 (A Two). The outlook on these
ratings is "stable".
Collectorate of Customs (Exports) launches its
The Collectorate of Customs Exports has taken one
more step towards automation and has launched its website on
09.02.2002. It contains up to date information about export
policy/procedures and notifications relating to Exports/Duty drawbacks
which will help facilitate the exporters in filing and processing of
their shipping bills and rebate claims. It also contains data about
big exporters, rebate claimants and the main exports of Pakistan. The
Exports General Manifest (EGM) will also be available on the website,
which will enable the exporters to have the latest information about
their export consignments. The website will not only provide a
synopsis of the performance of Exports Collectorate, but the office
and residential contact numbers of all the officers of the Export
Collectorate will also be available on this website. The exporters and
general public can also lodge their comments/complaints on this
website. The Collector of Customs (Exports) will personally monitor
the complaints/comments and will issue necessary instructions on daily
basis. This website can be visited at "www.collectorates.gov.pk"
A Trade and Investment Delegation of the Republic
of Turkey was to visit FPCCI Head Office Federation House Karachi on
Saturday, 16th February 2002 at 01.00 p.m. for Pakistan-Turkey
Business Forum meeting. The meeting will be followed by lunch.
There was to be Sectoral Meetings between Turkish
Delegation and Pakistani businessmen who are interested to promote
their business in the following field.
1. Construction, contracting & construction
2. Foodstuffs & Agro-business
3. Auto Parts & Automobiles
4. Textile Machinery & Equipments
5. Chemical & Pharmaceuticals
6. Information Technology & Computers
BANK OF KHYBER LAUNCHED ITS TRAVELLERS CHEQUES
Peshawar-8th February. 2002
The Bank of Khyber launched its Khyber Rupee
Travellers Cheques (KRTC) in an auspicious ceremony held on 8th
February, 2002 at Pearl Continental Hotel, Peshawar. Mr. Aminullah
Khan Gandapur, NWFP Minister for Excise & Taxation was Chief Guest
on the occasion. The ceremony was attended by a large number of guests
including BoK's Board members, Govt. officials, dignitaries,
businessmen and staff of BoK. The ceremony was begun with recitation
from the Holy Quraan by Mr. Masroor H. Shah.
Mr. Sajid Ali Abbasi, Managing Director of BoK in
his welcome address briefly dilated upon various aspects of the Bank's
operational activities. He said that BoK has always been keen to
provide efficient and prompt services to its valued clients and on
their persistent demand, Khyber Rupee Travellers Cheques (KRTC) have
been introduced in three different denominations of Rs.5,000,
Rs.10,000 and Rs.50,000 whereas travellers cheques in denomination of
Rs. 100,000 will soon be introduced. He said that real assets of BoK
are its valued clients. The management as well as staff will always
strive to facilitate them in every possible manner. He added that BoK
has so far played a pivotal role in socio-economic development of NWFP
and was the first amongst commercial banks to provide micro loans to
the people at grassroots level with the aim to help them develop their
own enterprises. He then enumerated a few units financed by the Bank
including Khaddar Weaving Units in Charsadda, Weaving Rugs in D.I.Khan,
ECO Tourism in Kalam and Tea Development Project in Shinkiari. He
further said that we are striving to bring some new products for our
customers and, foremost among them, is installation of ATMs in few big
branches. He also highlighted the better performance of the Bank
during 2001 and hoped that with improvement in national economy, the
Bank will be able to produce good results in future. At the end, he
expressed his gratitude to the Chief Guest and the august audience.
NWFP Minister for Excise & Taxation Mr.
Aminullah Khan Gandapur, the Chief Guest in his speech appreciated the
performance of the Bank and stated that in today's era of competitive
environment, any commercial institution needs continuous innovation
and customer satisfaction for its survival and growth. He said that
introduction of Khyber Rupee Travellers Cheques is an excellent step
and more efforts are needed to diversify the operational agenda of the
Bank. Chief Guest lauded the Bank's plan to increase its branch
network and emphasized that every plan should be devised in the light
of its commercial viability and to capitalize on maximum share of the
market. He assured the Bank's Board of Directors and the management
that Govt. of NWFP will continue to provide its support and patronage
to BoK and stressed the need of preparing for public floatation of the
Bank's shares. He appreciated micro finance activities of the Bank and
specially referred to the Tea Development Project at
Shinkiari-Mansehra and financing of Hydel Project at Chitral. He
further pointed out that economy is improving gradually and will open
a window of opportunities in the Province and the country as well,
which the Bank's management can greatly exploit with the help of its
talented manpower. He mentioned about the reconstruction work in
Afghanistan and emphasized that the Bank should be alive to greater
trade potential in Central Asian States.
Mr. Etrat H. Rizvi, Chairman BoK's Board of
Directors in his speech welcomed the honourable Chief Guest and
appreciated Government's keen interest and relentless efforts in
improving the lot of the people and trade and industry in the
Province. He said that BoK has now completed ten years and has been
striving to contribute as much as possible for promotion of trade
& industry, poverty alleviation and fulfilment of its social
responsibilities as a corporate citizen of the Province. He added that
the newly constituted Board and the management are fully cognizant of
their responsibilities and will provide efficient and competitive
banking products commensurate with their needs. He said that our
customer is our King and deserves our best services. He added that the
Bank would offer what our valued customers want rather than offering
what we have. He said that Rupee Travellers Cheques are a well tested
product and KRTCs are launched on the persistent demand of our
customers. He added that concerted efforts would be made to launch
more products suiting our customers.
Cathay Pacific to use CUTE in Pakistan
Cathay Pacific Airways announced that it would be
the first airline in Pakistan to use CUTE (Common User Terminal
Equipment) system introduced by SAPS (Shaheen Airport Services). This
system allows the airport to optimize space, utilize hardware
effectively and also allows airlines to automate their passenger
processing operations, ensuring passengers enjoy a smooth airport
Shaheen Airport Services has taken this positive
step to introduce the CUTE system that will also provide shared
check-in, reservation and departure control facilities across the
airport. CUTE will be initially installed at the Quaid-e-Azam
International Airport, Karachi and later at the International Airports
of Islamabad and Lahore. Cathay Pacific Airways in Karachi will be the
first airline in Pakistan to use this facility. Cathay Pacific's IT
systems are known to be amongst the most advanced airline IT systems.
Cathay Pacific's Instructors from Hong Kong, Ms.
Mona Wong, Ms. Lelia Tsang, Ms. Stella Fung and Mr. Joseph Yung are in
Karachi to train the Shaheen Airport Services (SAPS) and Cathay
TENTH ANNUAL GENERAL MEETING OF PFBA
Recently, Pakistan France Business Alliance (PFBA)
sole representative forum of eminent Pakistani businessmen and
representatives of French companies in Pakistan held its 10th annual
general meeting (AGM) in Karachi. Mr. Naveed A. Khan, President of
PFBA (also the Honorary Consul General of Iceland and Chairman Delta
Shipping) presented his annual report highlighting the aims and
achievements of PFBA, the seminars and social activities held under
its aegis to create awareness about current economic issues.
HE Mr. Yannick Gerard, Ambassador of France in
Pakistan, who is also the chief patron of PFBA presided over the
meeting. French Consul General in Karachi Mr. Gilles Bonnaud shared
the rostrum as the guest of honour.
Regarding bilateral trade between the two
countries, he informed the members that French exports to Pakistan in
the year 2001 had gone down by 19% (from 320 to 260 million Euros) but
Pakistan's exports to France, inspite of the unfortunate incident of
September 11 had been stable at 353 million Euros. The situation
should further improve as the EU of which France was a founding
member, had reduced the import tariff for Pakistan and increased the
textile quota by 15%.
He also spoke about the Pak-French joint-ventures.
D.L NASH in the textile sector between Nash Textile of Pakistan and
Duquennoy et Lepers of France who had put up a joint stand at
Heimtextil fair at Frankfurt this month and the first TOTAL petrol
pump in Faisalabad, a joint-venture between TotalFinaElf and Parco.
Pakistan rated No. 1 in textiles by MD NEXUS
Chemical Systems (UK)
Mr. Phillip Grundell, Managing Director NEXUS
Chemical Systems Ltd. UK, has rated Pakistan as No. 1 in textiles in
terms of quality. Mr. Phillip, who is an expert in Textile
Engineering, said this while addressing the students and faculty of
Textile Engineering at the Preston Institute of Management, Science
& Technology (PIMSAT) Lahore campus. Mr. Phillip said, in light of
the knowledge gained by him through visits to Bangladesh, India,
Pakistan and Sri Lanka, he could confidently state that the quality of
the textile products manufactured in Pakistan is far more superior
than Bangladesh, India and Sri Lanka.
During the course of his lecture Mr. Grundell
touched upon various processes of Textile Engineering. His lecture to
the students of B.Sc Textile Engineering of Preston Institute's Lahore
campus focused primarily on "Pre Treatment on CELLUOCIS
FABRIC". He also dwelt in detail on bleaching, dying, and
mercerization processes being followed by the textile industry
worldwide. Mr. Grundell emphasized that it is extremely essential to
maintain consistency in the contents of the chemicals used for these
processes to ensure good quality of the textile products.
At the end of the lecture, Mr. Grundell invited
questions from the participating students and the faculty. The Program
Director of Preston's Lahore campus extended Preston's gratitude to
Mr. Grundell for taking time out of his very busy schedule to address
the students, and presented him a shield of the Institute as a token
One of the world's most modern Ro/Ro ships calls at
It is a matter of great pride for Karachi Port
Trust that one of the most modern Roll-On/Roll-Off (Ro/Ro) vessels in
the world sailed on 10th January, 2002. M.V. Hual Trooper is owned by
Hoegh-Ugland Auto Liners (HUAL) of Oslo, Norway and called under the
agency of M/s. General Shipping Agencies (Pvt) Ltd.
The vessel was built at HYUNDAI HEAVY INDUSTRIES
YARD in South Korea at a cost of US$ 55 million (Rs 1.7 billion) and
was delivered in March 1995. It has a capacity to carry 6000 car
equivalent units on 12 decks and has a maximum ramp capacity of 150
MT. Its GRT is 19443 and NRT 10495.
HUAL (which was established in 1970) has been
operating a Ro/Ro service (from the United States, Europe and the
Middle East) to Karachi since 1982 on a regular Liner basis. The line
transports many brand name cars such as Mercedes Benz, BMW, Range
Rover, Volvo, Chrysler, etc. etc. as well as high and heavy
HUAL owns 83 Ro/Ro vessels and including chartered
vessels, at any given time, a fleet of 25-30 vessels is at the
disposal of HUAL and its customers in the motor industry, which
include most of the world's major automakers. With annual liftings of
close to 700.000 car equivalent units on deep-sea routes worldwide,
HUAL ranks among the 5 — 6 largest car carrier operators in the
world in terms of transportation volume.
Football Expo 2002
The Worldwide Football Trade Show and Symposium
welcomed 1969 participants representing a total of more than 600
companies from 65 countries. Equally of note was the global media
representation. Over 214 journalists covered the event. The show was
held at The Palais des Festivals in Cannes (France).
The annual global football trade show, actively
supported by FIFA and the six confederations, dedicated exclusively to
football and its related industries.
The 6th edition will take place from Wednesday, 8th
to Friday, 10th January 2003.
A rousing standing ovation was given to H.E.
Yannick Gerard (L), Ambasador of France in Pakitan for his
Pakistan-friendly speech at the 10th Annual General Meeting (AGM) of
Pakistan France Business Alliance (PFBA). Mr. Naveed A. Khan,
President PFBA (also Honorary Consul General of Iceland and Chairman
Delta Shipping) and Mr. Gilles Bonnaud, Consul General of France in
Karachi (R) join in the warm applause.
The Bank of Khyber (BoK) launch their 'Khyber Rupee
Travellers Cheques' (KRTCs) at Peshawar. Group photo taken on occasion
shows sitting (L-R) Mr. Mushtaq A. Taj, Sajjad Ahmed, Wing Commander
® Jamshad Savul, Members Board of Directors, Major ® Aminullah Khan
Gandapur NWFP Minister for Revenue Excise & Taxation, Mr. Etrat H.
Rizvi, Chairman BoK BOD, Mr. Sajid Ali Abbasi, Managing Director BoK,
Abdul Wajid Rana, NWFP Secretary Finance/Member BoK (BOD). Standing
(L-R) Syed Ali Nawaz Gilani, Head PR & Marketing, Mr. Sohail Khan,
Head Inspection, Mr. Gul Qiaz, Head Audit, Mr. Amjad Pervez, SVP, Mr.
Mir Javed Hasmat SVP, Capt ® Munir ul Haq Qazi, SVP, Dr. Mohsin M.
Khan EVP, Arbab Riaz Ahmed, SVP, Mr. Khushal Khan, VP, Mr. Tamsil
Rashid, Head MFD and Mr. Arif Majeed Mohmand, Head Computers of BoK.
Mr. Etrat H. Rizvi, Chairman, Bank of Khyber (BoK)
speaking at launching of BoK's KRTCs. While NWFP Minister for E&T
Mr. Aminullah Gandapur & MD BoK Mr. Sajid Ali Abbasi are on the