ANNOUNCEMENT

 

Mar 10 - 16, 2003 

 

PANEL DISCUSSION ON MULTIMEDIA — CAREERS FOR LIFE!

After realizing the need to create awareness about importance of modern technology in successful professional life, Arena Multimedia has organized a discussion forum on February 28, 2003 at FTC auditorium. The topic was 'Multimedia — Careers For Life'.
There was an audience of more than 400 people that included corporate guests, people from press and TV channels, Arena students and others.
The discussion went very successful and fruitful and the light was thrown on very crucial issues that  

 

 

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 Bukhtiar

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 goals...Khalid Jamil

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 banks.

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 competitive edge.

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 occasion.

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.

—Marylou Andrew

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 30, 2003.

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 inclusive).

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 capacity.

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.