included fee structure, equipment facilities,
job/training opportunities, comparison with the other countries etc.
The emphasis was paid on the support required by media, TV channels
and other sectors to provide job opportunities and training facilities
for Multimedia students and professionals. All panel members agreed on
the fact that Pakistan requires Multimedia professionals to compete
the advanced world and endorse it. Audience participated very
enthusiastically and the request was made by all the participants to
have more of such discussion forums, where public can share and
forward their views.
Message of the few of the panel members:
Dedication and seriousness towards studies
and no wastage of time is required by youth. .. Saira Kazmi
Parents' money should be utilized effectively
by the students...Pervaiz Iqbal.
Hard work and dedication is required...Zeba
Man is behind Machine (Creativity and hard
work is required)... Server Moosavee
Multimedia gives perfection to work. Hard
work is important...Ali Noor
Be a good human being and achieve your
Dedication towards work can make you achieve
your goals. . . Ahmed Jahanzaib
Multimedia is the need of the hour and great
need of professionals in this filed can be fulfilled only if we have
more creative and dedicated people coming toward this line.
Panel Members were:
Mrs. Saira Kazmi, Ms. Zeba Bukhtiar, Mr. Pervaiz
Iqbal, CEO, BBCL Communications, Mr. Ali Noor, Famous Singer, Mr.
Ahmed Jehanzaib, Famous Singer, Mr. Khalid Jamil, CEO, Elite
Publishers, Mr. Server Moosavee, Producer, Moderator: Ms. Rabiah Beg
(Arena ex-student, currently working for GEO).
ALI KHAN TAKES OVER AS CEO RECKITT BENCKISER PAKISTAN
Ali Ahmed Khan has taken over the position of Chief
Executive, Reckitt Benckiser Pakistan from Sabir Sami, who is
proceeding on an overseas assignment with Reckitt Benckiser.
A graduate of IBA with majors in Marketing, Ali
brings with him rich experience in consumer marketing. Ali joined
Pakistan Tobacco Company as the head of Sales and Trade Marketing in
1998 and subsequently moved to their Global Headquarters in London. On
his return he was appointed Marketing and Sales Director PTC. Ali has
also worked with Pepsi Cola International where he held several high
profile positions, before heading their marketing department.
THE BANK OF PUNJAB JOINS MCB M-NET.
The Bank of Punjab joins MCB M-Net — largest
shared ATM Network across the country today after signing an
Memorandum of understanding (MoU) at MCB, Principal Office, Karachi. A
mutual beneficial alliance which will enable customers of The Bank of
Punjab to use ATM facilities offered by MCB and other M-Net partner
MoU signed in a ceremony held at MCB, Principal
Office, Karachi, Mr. Mohammad Aftab Manzoor, President MCB and Mr.
Saleem Jan, Managing Director The Bank of Punjab signed the MoU on
behalf of their respective organizations also present on the occasion
were Mr. Ali Munir, SEVP, MCB and Mr. Mohammad Saleem Mirza, SEVP of
the Bank of Punjab and other team members.
LG ELECTRONICS WINS EU ENVIRONMENTAL AWARD
The LG Electronics built-in type refrigerator won
the Environmental Award given by the European Commission by obtaining
Eco-Label securing a favorable standing in gaining more ground in the
attractive European refrigerator market.
The Eco-Label is the green label given to
environmentally-friendly products in the Europe that aims for energy
conservation, ozone protection, and prevention of global warming.
Until now, only two models, including LGE's GR-171,
have obtained the European Eco-Label on the entire European continent.
LGE's winning the label is drawing much attention from the industry as
being the first non-European company to break the environmental
regulation barrier in a market where local makers enjoy a clear
LGE's winning the Environmental Award for its
built-in refrigerator is also drawing attention in Korea with many
Korean home appliance makers facing additional challenges brought on
by the EU's strengthened environmental regulations including interest
in making the Eco-Label mandatory. LGE plans to win the Eco-Label for
more products including its entire refrigerator line.
PSO INTRODUCES TAMPER PROOF SEALS
Pakistan State Oil (PSO), the country's largest oil
marketing firm, on Friday February 28, 2003, launched "Self Lock
Metal Seal" for tank trucks and tank wagons. The seals would
ensure tamper-free supply of petroleum products.
The "Self Lock Metal Seal" was launched
at a ceremony at PSO Keamari Terminal "C" by General Manager
Operations Mr Aftab Ejaz. Senior officials of the company,
Karachi-based dealers and cartage contractors were present on the
The metal seals, which have been imported, are
rust-protected and self-locking. On every seal, which has a six-digit
unique identification number and dispatch location code, PSO logo has
been embossed. More importantly, the seals are tamper proof.
The metal seals will be used to close each and
every outlet, manhole and drain hole of tank lorries and tank wagons.
Along with it, six digit unique identification numbers will be written
on all type of dispatch documents.
At the receiving end prior to decantation, the
seals will be checked and compared with numbers written on the
dispatch documents. In case there is any variation in the location
code or six-digit seal number, tank truck or tank wagon will be
detained and the matter will be referred for detail investigation.
The "Self Lock Metal Seal" are a strong
deterrent against pilferage, adulteration in transit. They will
provide PSO's customers right quality and correct quantity.
AUTO INDUSTRY IN TOP GEAR
Pakistan's automobile industry has grown
tremendously over the last few years. Several factors have contributed
to this unprecedented and exceptional increase. For one, the demand
for all models of automobiles has risen tremendously giving car-makers
the much needed shove to start producing more automobiles and achieve
greater localization in vehicle components. This increase has mainly
been a result of increased home remittances and attractive car loan
schemes by banks and leasing companies.
Due to increased demand, all major car makers have
reported increased sales. The Toyota Corolla, an extremely popular
model in the Pakistani market, reported an increase of 57 percent in
its sales figures. Daihatsu Cuore sales went up by a mammoth 101
percent, sales of Suzuki Mehran rose by 53 percent and sales figures
for Honda Civic reflected a 7 percent increase.
Shaukat Aziz, Advisor to the Prime Minister on
Finance, during a visit to the plant of the Indus Motor Company
commented on the tremendous growth that the auto industry in the
country has seen particularly over the last six months, saying,
"The auto industry has developed substantially over the 6-month
period and I anticipate far more robust growth in the future."
The government's confidence in the growth of the industry is also
reflected in the policy of companies such as Indus Motors, which
decided to initiate a second shift in order to meet increased demand.
While the increase in demand and the corresponding
surge in production have been the major factors contributing to the
growth of the industry, the localization of parts achieved in the
process has been no mean feat either. In a statement at the IMC plant
in late January, Liaquat Jatoi, Minister of Industries and Production
commented on the enhanced technical ability of Pakistan's automobile
industry saying, "Presently 48% of parts are manufactured in
Pakistan. I hope that with government support, we will be able to
change this to 100%.
Apart from localization of parts, increased
production has also significantly enhanced the investment that
automobile companies are making in Pakistan. The investment has been
both in terms of monetary and human resources. It is estimated that
the automobile industry in Pakistan has an investment of $8 billion
and directly and indirectly provides jobs to 150,000 people as a
result of its activities.
A booming auto industry has also set the stage for
the introduction of newer and more compact models in the market.
Models such as Cuore by Indus Motor Company, Alto by Pak Suzuki Motor
Company and the Korean made Santro by Dewan Farooq Motors seems to be
the cars of choice for the common man in the country. The new Cuore
Eco in particular is a great option for customers who want reliable
and environment-friendly cars at a reasonable price.
With so many factors in its favor and government
support in its corner, the auto industry is sure to move forward at
full pace in the months to come.
HUBCO BOARD ANNOUNCES 33 PERCENT INTERIM DIVIDEND
Board of Directors of the Hub Power Company Limited
met in Karachi to approve Interim Dividend for the year ending June
The Board is pleased to announce an interim cash
dividend at Rs. 3.30 per share i.e. 33 percent. The Interim Dividend
will be paid to the shareholders whose names appear in the Register of
Members on March 30, 2003.
As already announced on January 27, 2003 the Books
will remain close from March 31, 2003 and April 11, 2003 (both days
Shareholders (Non-CDC) are requested to promptly
notify the Company's Registrar of any change in their addresses and
submit, if applicable to them, the Non-deduction of Zakat Form (CZ-50)
with the Registrar of the Company. All the Shareholders holding their
shares through the CDC are requested to please update the address and
Zakat status with the Participants. This will assist in the prompt
receipt of dividends.
PACRA UPGRADES THE RATINGS OF ORIX LEASING
The Pakistan Credit Rating Agency (PACRA) has
upgraded the long-term entity rating of Orix Leasing Pakistan Limited
(OLP) to 'AA' (Double A) and the short-term rating is maintained at
'A1+' (Single A one plus). The entity ratings are applicable to the
senior unsecured creditors of the company.. The ratings of the secured
TFCs (First Tranche: PKR 742mln, Second Tranche: PKR 758mln) have been
upgraded to 'AA+' (Double A Plus). These ratings indicate a low
expectation of credit risk and a very strong capacity for timely
payment of financial commitments.
OLP's ratings reflect a continuing low risk profile
of the lease portfolio and maintained performance from core
operations. Meanwhile, diversification — customers as well as
products — remains the main strength of the company. The rating take
into account the recent equity injection, which while reducing the
gearing, also has positive implication for the risk absorption
PACRA also recognises support through affiliation
with Orix Corporation Japan (Orix) and most importantly, the quality
of senior management with demonstrated capability of effective
management in a difficult operating environment.. OLP, having a track
record of successfully implementing well-designed business plans, is
likely to retain its leadership position in a competitive environment
by innovating and defining new niches for itself.