May 26 - June 01, 2003 




Pakistan State Oil, the oil-marketing giant, was awarded the Karachi Stock Exchange (KSE) Top Companies Award last week. Prime Minister Mir Zafarullah Khan Jamali gave the award to Tariq Kirmani, Managing Director, PSO, at an impressive ceremony held at a local hotel.Based on the excellent dividends to shareholders and other criteria of Karachi Stock Exchange, PSO has constantly remained in the list of top 25 best performing companies of Pakistan.



PSO was recently honoured as the first Pakistani corporate entity to be studied as a case of exemplary corporate transformation by the Wharton Business School of the University of Pennsylvania, USA.

This has been followed by a letter from Professor Roderick Martin, one of the most renowned and highly respected management experts in the world, showing his interest in undertaking the study on the development of PSO to draw lessons for the future.


Preston University organized an Information Seminar at its campus in the Capital. Prospective students and their parents who thronged the seminar evinced keen interest in the academic programs being offered by the University at its Islamabad campus. The purpose of the Information Seminar was to provide detailed information to prospective students about the programs Preston currently offers at graduate and post-graduate level in the field of Business Administration, Information Technology, Social Sciences, Natural Sciences and Applied Sciences. The participating students and their parents lauded the highly progressive policies of the Institute, and expressed their satisfaction over the quality of the academic programs the university is currently offering at the graduate and post-graduate level.

Addressing the students on the occasion, Chancellor and President Preston University Dr. Abdul Basit gave a detailed account of the institution from its inception, in 1984, to date. He said Preston was the first institution of higher learning to have been established in the private sector in Pakistan. The enviable stature Preston has attained today and the impeccable reputation it enjoys in the comity of reputed institutions of higher learning in the country amply supports this claim, he said. While highlighting the significance of Preston's BBA, BBA (IT), BS (IT), MS (IT), MBA, EMBA, EMS and other programs being offered at graduate and post-graduate level, he maintained that all these programs are market driven and are of very high quality. Students who took these programs in the past benefited tremendously, as they were readily absorbed by national and international organizations both within the country and abroad. In his concluding remarks, Chancellor Dr. Basit broke to the participants the good news of the university charter that was conferred on it last year by the government of NWFP vide NWFP Ordinance No. LII of 2002. He said Preston now enjoyed the unique distinction of possessing two charters, one that of a degree awarding university and the other of a degree awarding institute. Preston University, he said, has been chartered in the province of NWFP, and Preston Institute of Management, Science and Technology (PIMSAT) is chartered in the province of Sindh by the government of Sindh vide Sindh Ordinance No. XXVI of 2001. Both Preston University and Preston Institute are recognized by the Higher Education Commission (HEC), Government of Pakistan, and are duly enlisted in its list of chartered/recognized public and private Degree Awarding Universities and Institutes of Pakistan, he said.



Earlier, speaking on the occasion, the Director Marketing, Public Relations of Preston University Network in Pakistan, Mr. Fazal Elahi gave a detailed presentation on the regular and executive programs being offered at the university at the graduate and post-graduate level. He extended his gratitude to the prospective students and their parents for participating in the Information Seminar with such immeasurable enthusiasm. Mr. Elahi expressed the hope that they would join the academic programs of their choices and provide Preston the opportunity to groom them for a bright and thriving career.


LG Electronics and Askari Commercial Bank signed a "Memorandum of Understanding" to finance consumer products on easy installments for general public in a simple yet impressive ceremony.

Mian Pervaiz Akhtar, Chief Executive Officer New Allied Electronics and Mr. Kalim ur Rehman CEO & President Askari Commercial Bank Ltd. signed the MoU for their respective organizations. Mr. Agha Ali Imam, Group Head Retail Banking and Mr. Tariq Abbasi, Director Marketing New Allied Electronic were also present at the ceremony.

In his welcome address, Mian Pervaiz Akhtar, Chief Executive Officer New Allied Electronics said" I can see lot of consumers getting LG products on easy installment basis utilizing this scheme. The most important feature of this scheme is to give an opportunity to Teachers & Lecturers of schools colleges and universities whom we haven't reached with any other bank as yet." "Industrialization is the key to success, as it grows it gives employment opportunities to the youth," He further added.

The products available on this offer include GSM mobile phone handsets, Flatron TV and monitors, Plasma Air Conditioners, DVD & VCD Players, Home Theater and Hi-Fi music systems.

Speaking on the occasion Mr. Kalim ur Rehman CEO & President Askari Commercial Bank Ltd. said "LG Electronics is a popular brand in Pakistan and Askari is one of the leading banks in private sector. By signing this agreement we are providing purchasing power to the consumers and creating demand for quality LG products among the individuals. Consumer financing is the indicator of positive growth for any economy." He also praised the idea given by Mian Pervaiz Akhtar to cater teachers. Teachers are no doubt very important segment which has never been offered any benefit so far by any sector. By this scheme they will be our primary concern".

The ceremony was attended by top executive of the bank as well as senior managers and marketing team of New Allied Electronics.



LG Group has grown to be one of the leading business entities in Korea since its establishment as LG Chemical in 1947. It was an early pioneer not only in the chemical but also in electrical and electronic industries. Today LG Group is made up of forty-two affiliated companies centered on four core business fields: Electronics and Telecommunications, Chemicals and Energy, Finance and Services. LS was established as GoldStar in 1958 and its name was changed to LG Electronics in 1995. LG has a sales graph totaling a mere US$59,000 in 1959 and today it has reached a total of US$13.1 billion in electronics business.

LG Electronics and Askari Commercial Bank signed a "Memorandum of Understanding" to finance consumer products on easy installments. Seen in the picture are (L-R) Mr. Tariq Abbasi, Director Marketing, New Allied Electronic, Mian Pervaiz Akhtar, Chief Executive Officer, New Allied Electronics, Mr. Kalim ur Rehman CEO & President, Askari Commercial Bank Ltd. and Mr. Agha Ali Imam, Group Head Retail Banking at the signing ceremony.

Chancellor and President Preston University, Dr. Abdul Basit addressing the students who participated in the Information Seminar organized by the university at its Islamabad campus.