Cargo Community Network Singapore Pte Ltd (CCN) and
Global Logistics System (HK) Co. Ltd (GLSHK), also known as Traxon
Hong Kong, have developed the initiative, with the four airlines the
first to offer Ezycargo's benefits to their customers.
Initially, customers will be able to make allotment
and free-sale bookings, conduct tracking and tracing, and review
flight schedules on the four carriers through Ezycargo.com. Additional
features are under development for introduction later in the year.
With Ezycargo now online in Hong Kong, other
markets will follow — Singapore in October, Australia in November
and Japan in December.
Dr RIAZ APPOINTED VC PRESTON UNIVERSITY KOHAT
Eminent scholar, Dr. Sayed Riaz Ahmad has recently
been appointed as Vice Chancellor of Preston University, Kohat, NWFP.
Dr. Riaz Ahmad brings to Preston over 40 years of invaluable
experience of academia and the corporate sector.
Dr. Riaz Ahmad took a first class masters degree in
Political Science from F.C College, Lahore and Ph.D from the
University of Durham, England. He also obtained a post graduate
diploma in Management Training from Royal Institute of Public
Administration, London. Dr. Riaz also attended a number of courses in
various areas of management at different institutions of international
repute including one on policy analysis and development at UN Asian
Institute of Development Administration, Kuala Lumpur.
In order to put the record straight, APTMA is
issuing this press release in respect of election for the office of
Chairman for 2003-04.
Managing Committee in its meeting held on 18th September, 2003 carried
a decision based on majority votes regarding election for the office
of Chairman in the subsequent meeting held on 25th September, 2003 the
Managing Committee of APTMA deferred a part of the minutes due to the
restraining order received from the Honorable Sindh High Court at
Karachi. The Central Managing Committee re-affirmed its earlier
decision of the 18th September, 2003 and resolved to strongly defend
all its actions at any forum including courts of law.
(b) It is
further clarified that there has never been direct involvement of the
Central Managing Committee on the issue, which has appeared in a
section of the press. APTMA Management showed its concern on the issue
being taken to the press as well as the Court and suggested to avoid
unnecessary litigation and consequently legal expenses of the
APTMA Management is pleased to announce that in the
meeting of Central Managing Committee held on 25th September, 2003 it
has successfully resolved the issue of election for the office of
Chairman APTMA for the year 2003-04 and unanimously carried the
"RESOLVED that in view of the letter received
from Mr. Waqar Monnoo and consent received from Mr. Shahid Anwar to
withdraw all litigation against APTMA on his behalf and on behalf of
Island Textile Mills Limited, Managing Committee is pleased to decide
that there will be elections held for the post of Chairman between Mr.
Waqar Monnoo and Mr. Shahid Anwar for the year 2003-2004 on October
This resolution will become effective on the date
of actual withdrawal of all court cases against APTMA filed by Mr.
Shahid Anwar and Island Textile Mills Limited by 30th September,
The Committee appreciated the gesture of Mr.
Muhammad Waqar Monnoo for offering to contest Elections despite
earlier decision of the Central Managing Committee relating to his
Election. The Committee also appreciated the gesture of Mr. Shahid
Anwar for announcing the withdrawal of all litigation filed against
ICCI AWARD TO DR. LODHI
Mian Akram Farid, President of Islamabad Chamber of
Commerce & Industry (ICCI) has announced the "Award of
Excellence in Diplomacy" in favour of Dr. Maleeha Lodhi,
Pakistan's High Commissioner to U.K.
Mian Farid has stated that the chamber and the
business community feel proud of Dr. Maleeha Lodhi's unprecedented
contribution both as a front rank journalist and as an outstanding
star diplomat of Pakistan. The Award is a simple recognition of her
contribution at various levels of career. We are confident that Dr.
Lodhi will strive hard to improve Pakistan's image in U.K. as well as
help boost Pakistan's bilateral trade with U.K.
NEW INDUSTRIAL ZONE
Capital Development Authority (CDA) would build a
new and modern Industrial zone along with Islamabad-Lahore Motorway to
remove the extra load on Islamabad Industrial area and to facilitate
the Industrialists of federal capital.
This was announced by the chairman CDA Chaudhary
Abdul Rauf while addressing an extra ordinary meeting of traders and
industrialists at Islamabad Chamber of Commerce and Industry (ICCI)
The Chairman CDA also ordered for suspension of
auction called by the CDA on 30th September for awarding the contract
of entry and parking fee in Fruit and Vegetable market on the
complaints of traders and ordered for complete probe of the matter.
Chairman CDA approved the formation of
Industrialists Club on the model of Islamabad Club and said that
federal city would be further developed and beautified. He said that
development work in 'F' series residential sectors, the expansion of
Islamabad Highway from Faizabad to Zero Point and Murree road from
Faizabad to Serena Hotel would also be started soon.
He further informed that after the approval of
Ecnec committee CDA was in the process to import latest fire fighting
system and improve sewerage system as well. He said that the latest
equipment for fighting fire in 20 story buildings would be imported
EU BOOST FOR LANKAN APPAREL
The Commerce and Consumer Affairs Ministry said
recently that the European Union has confirmed a massive tariff
reduction on garments from Sri Lanka by recognizing the adherence to
good labour practices. The move effective from October 13, will reduce
the effective tariff rate of 12% to around 4% and 5% and it was based
on an application made by Sri Lanka last year under social labour
clause of the enhanced tariff reduction scheme under General System of
Preferences, (GSP). Following the application a labour audit was
conducted by the EU early this year. Based on the audit Sri Lanka was
qualified for the tariff preference scheme after certain
clarifications. The EU is the second biggest market for Sri Lanka's
apparel exports behind the US. Of the exports to EU, apparel account
for over 50%.
MODARABA ASSOCIATION OF PAKISTAN, AGM
10th Annual General Meeting of Modaraba Association
of Pakistan (MAP) was held on 29th September, 2003 at Sheraton Hotel,
Speaking at the occasion, Chairman, Mr. Waqar Ajmal
Chaudhry summarized MAP's achievements during the past year. Amongst
other things, MAP has worked on building the Modaraba profile and
attracting investment from other friendly Islamic countries. In this
respect, MAP attended the 9th Private Sector Meeting of the OIC
countries held in December 2002 at Sharjah where 57 Islamic countries
Modarabas have also been successful in diversifying
their products and are getting into newer lines of businesses. MAP has
actively worked with Securities and Exchange Commission of Pakistan (SECP)
for the approval of a Listed Islamic Term Finance Certificates.
SECP in consultation with MAP, is in the process of
rationalizing the Modaraba Ordinance and Rules together with the
Prudential Regulations for Modarabas. These amendments are expected to
benefit the Modaraba sector.
Above efforts have translated into improved
profitability and increased payout in the sector. Market's confidence
in the sector is reflected by approximately 100% increase in market
capitalization since early this year.
Mr. Chaudhry presented plaques to the top three
Modarabas distributing highest dividend for the period ended 30th
June, 2002, First Imrooz Modaraba with 50%, First Grindlays Modaraba
with 40% and First Habib Modaraba with 20% cash dividends qualified
for the recognition and appreciation.
SSGC DECLARES 18 PERCENT CASH DIVIDEND
Sui Southern Gas Company (SSGC) declared a cash
dividend @ 18% (Rs.1.8 per share) for the financial year ended June
30, 2003. The Board meeting was held here at Company's Head Office on
September 30, 2003 to review the audited accounts for the year ended
June 30, 2003. Mr. Atizaz Shahbaz, Chairman presided over the meeting.
The Board was informed that during the year the
Company's sales increased to Rs.41.572 billion as compared to
Rs.37.061 billion during the previous year representing an increase of
12 percent. The increase in gas sales was largely to the power sector
and other industrial customers. The company sold 254,349 MMCF to gas
customers as compared to 234,553 MMCF during the previous year which
represents an increase of 8.4 percent. The Company has earned after
tax profit of Rs.1.448 billion as compared to Rs.1.435 billion during
the previous year. The earning per share increased to Rs.2.16 from
Rs.2.14 in the previous year.
The Company has contributed over Rs.7.7 billion to
the national exchequer in the shape of Sales Tax, Income Tax and Gas
Development Surcharge (GSD) during the year under review.
The Company laid 526 kilometer mains and service
gas pipelines to provide connections to 56,789 new customers during
the year. During the year, the Company was able to complete is Gas
Infrastructure Rehabilitation and Expansion Project at a capital cost
of Rs.3.2 billion which increased SSGC transmission capacity from 600
MMCFD to 1200 MMCFD. The Company currently has 950 MMCFD of gas and
transporting another 250 MMCFD to the Sui Northern Gas Pipelines
Limited (SNGPL), which is contributing to sales revenue.
As a result of equalization of gas purchase prices,
an amount of Rs.6.2 billion will be received by SSGC. This will
improve the operating margin and profitability of the Company.
The Board noted with satisfaction that the Company
has made arrangements for the timely execution of its five years'
Rs.34.5 billion Capital Expansion Program, in order to connect all the
new gas fields in Sindh and Balochistan, and to increase system
capacity to 1800 MMCFD. Out of this an amount of Rs.5.4 billion will
be spent during the year 2003-04.
ASKARI MASTERCARD AND EFU
EFU Life Assurance Ltd. and Askari MasterCard
signed a Memorandum of Understanding recently to provide a value-added
service of insurance coverage to Askari MasterCard holders under the
Credit Protection Scheme. At very nominal rates, this scheme aims at
helping Askari MasterCard members and their heirs in payment of
outstanding bills on their cards by providing insurance coverage
against death, terminal illness and disability. At the inception of
the scheme Askari MasterCard members are being offered free two months
EFU Life is the largest private life insurer and
the only insurer in Pakistan offering such protection to credit card
holders. It has introduced several innovative ventures with major
banks in Pakistan.
Askari MasterCard was launched in February 2001.
Since then it has managed to successfully make a superior customer
base and portfolio with numbers increasing day by day. Askari
MasterCard carries a world of features and services to make life as
simple, convenient and stress free as possible making it "the
Sensible Choice" for the user.
PSAA ELECTION RESULTS FOR YEAR 2003-2004
Please note that Annual General Meeting of Pakistan
Ship's Agents Association (PSAA) was held recently at Beach Luxury
Hotel, Karachi. Following were declared elected for the term 1st
October, 2003 to 30th September, 2004.
1. Mr. Farouq H. Rahimtoola
2. Rear Admiral (Retd) S.H. Khalid
3. Captain Nusrat Iqbal
4. Mr. Amir Abbas
5. Mr. Atthar Adil Mallick
6. Ms. Ava A. Cowasjee
7. Captain Khalid Hashmi
8. Mr. Nadeem Moulvi
9. Syed Masood Ahmed Zaidi
KALSOFTTM (PVT) LTD — SUN IFORCE ERP/SUPPLY CHAIN
KalSoftTM (Pvt) Ltd. already being the Sun's iForce
partner has now become the Sun's iForce ERP/Supply Chain Network
Partner. Sun Microsystems is the most advanced source of IT, software
and services in the world. Now that KalSoft is a Sun Microsystems
iForce ERP/SC Network partner, it will help KalSoft to better serve
its valuable customers and to understand what they are asking in order
to deliver solutions quickly and provide greater convenience at the
It is an honor that KalSoft is the only company in
Pakistan that is the Sun iForce ERP/Supply Chain Network Partner. With
around 53 Sun iForce ERP/Supply Chain Network members worldwide, this
partnership will provide revenue-generating opportunities, including
demand-generation programs, and support from community members.
KalSoft can enjoy a strong portfolio of benefits offered through the
iForce Initiative, enabling a faster roll out of ERP/SCM solutions to
According to Mr. Khurram H. Kalia, Chief
Technological Officer (CTO) of KalSoft, this partnership will allow
KalSoft to have significant global growth plans to increase sales and
explore new, untapped markets, and to better serve our customers
UN GLOBAL COMPACT TO PROMOTE HUMAN DEVELOPMENT
The first meeting of the UN Global Compact Steering
Board was held in Islamabad. Federal Minister of Trade and Commerce,
Mr. Humayun Akthar Khan, as the Patron of the Board, and Mr. Onder
Yucer, UN Resident Coordinator as Chairman highlighted the relevance
of the Global Compact as a mechanism to offer the business community
an opportunity contribute to the challenges of poverty reduction.
There was representation from Government, UN agencies, Chambers,
Employers' Associations, Civil Society and leading private companies.
The objective of the Steering Board is to oversee
the implementation process of the Global Compact in Pakistan. More
specifically, the Steering Board shall be instrumental in providing
guidance and support for national policy dialogues, advocacy and
learning on national development challenges where the business sector
could contribute. It will also provide guidance in initiating and
promoting public private partnership projects and facilitating
corresponding mobilization of resources. Mr. Humayun Akthar Khan
assured the Board members of the Government's support and urged the
business leaders to be receptive to the development agenda of the UN
Global Compact. He also invited the corporate sector to contribute to
the Global Compact related initiatives. Mr. Yucer said "the
business sector is the key generator of employment and technological
advancement and the Global Compact seeks to mobilise this engine of
growth towards the challenges of poverty eradication".