Nov 10 - 16, 2003



NCR Corporation (NYSE: NCR) unveiled the details of the fifth annual NCR National IT Excellence Awards. The awards are intended to recognize outstanding information technology (IT) professionals in nine different categories from all over the country. The announcement was made by Syed Veqar ul Islam, general manager of NCR in Pakistan, during a press conference at a local hotel.
Speaking on the occasion, Veqar ul Islam said, "The awards have developed into a symbol of prestige and recognition across the country in general and in the IT industry in particular. The important thing at this point in time is for all the stakeholders of the country to come together and work towards enhancing the profile



of the Pakistani IT industry both within and outside Pakistan. This will only be possible if there is enough motivation and recognition amongst the best brains available in the country to perform to their potential."

The awards are in line with many initiatives NCR Corporation has taken to promote the IT industry of Pakistan. The recognition at a national level is both encouraging and motivating for the individuals and also creates a sense of positive competition to perform better. "As we move forward with these awards, year after year, we are confident that the competition will continue to get tougher and tougher and more and more deserving individuals will get recognition through this process," said Veqar ul Islam. "While thanking the media for playing a positive role in disseminating information about these awards over the years, I look forward to receiving an encouraging response once again to this call for nominations."

The awards will be given in the following nine categories:

1. Software Development
2. Software Export
3. Networking
4. IT Pioneer
5. IT Educationalist
6. IT Research & Development
7. IT Youth
8. IT Publication
9. Lifetime Achievement Award

Individuals can nominate themselves, or their companies or organizations can nominate those employees who they feel have made a remarkable and outstanding contribution in the field of IT. Separate criteria have been set up in each category as per the requirements of the industry. The categories have been selected to cover the entire spectrum of the IT arena, enabling the specialized effort in each category to stand out and be recognized.

The award nominations should focus on work that occurred between August 2002 and July 2003. The last date for submission of nomination is November 20, 2003. Nominations should be submitted online through the IT Excellence Web site: Any supporting documents can be submitted to Ford Rhodes Sidat Hyder & Co at Ford Rhodes Sidat Hyder & Co., Progressive Plaza Beaumont Road, Karachi 75530 Pakistan, Phone-(92-21) 5650007-11 within three days of submitting the online nomination. All the supporting documents should be sent before the designated deadline for the nominations to be considered by the judges for evaluation.



Application forms may be submitted online only through this Web site. No nominations will be accepted otherwise. The 2003 NCR IT Excellence Awards process is being verified by Ford Rhodes Sidat Hyder & Co., Chartered Accountants, a member of Ernst & Young International. A panel of judges selected for their expertise, experience and acumen will be assessing the nominees for different categories of IT awards. The results will be announced at the culmination of the evaluation process at 2003 NCR IT Excellence Awards ceremony.

NCR IT Excellence Awards are a novel concept of recognizing people in IT industry at the national level who have been instrumental in introducing, promoting and implementing IT in Pakistan. The first awards of this kind were launched by NCR in 1997 as part of Pakistan's Golden Jubilee to recognize professionals in the information technology arena at a national level. The association of the awards with a company of world repute will increase the motivation of outstanding individuals in the field of information technology.

NCR has played a leading role in spreading the cause of information technology in the country. This effort will go a long way towards creating motivation amongst different segments of the society to perform well in this ever-growing field.


A delegation of APTMA, led by its Chairman, M. Waqar Monnoo, met Dr. Ishrat Hussain, Governor, SBP. The Chairman apprised the Governor about the crises like situation faced by the textile mills in view of the extraordinary increase in cotton prices. The Governor was apprised regarding the liquidity issues being faced by the textile industry. He proposed a reduction in margin on stock of raw materials and finished goods by Banks. The banks are currently financing cotton in pledge against net of sales tax value and keeping an additional 10% margin on top of that. The result is that, the borrower ends up paying 25% of the value out of his pocket in order to purchase cotton which will be pledged. He proposed that the banks allow financing against pledge on the basis of 5% margin on raw material i.e. cotton and polyester fibre and 10% margin on finished goods. The revised prudential regulations allow lending against raw materials at nil margin. The Governor advised that he could look at this on a temporary basis to cover the present extraordinary situation.



The Governor was also apprised that the Banks, in general, are not financing higher grade cotton purchased at premium prices. This is resulting in buyers of higher grade cotton having to fund the additional premium also. It was suggested that banks are instructed to finance higher grade cotton as per premium stated in KCA published rates.

The Governor was apprised that with Cotton prices having increased extra-ordinarily it was resulting in shortage of working capital and that the banks should accommodate increases in working capital.

The Governor advised that he would take up the matter, with the banks in the forthcoming PBA meeting expected on the 7th of November. He advised that good borrowers were being accommodated by the banks on the basis of their name and past history.

The Governor was advised that many issues were being faced in settlements under BPD 29 especially in the light of some recent instructions of the SBP to the SBP Committee. The Governor advised the background to the issue of the Circular BPD 29 and the aims of revival of industry as well as cleaning up of banks books.


Leading Pakistani Home appliances Brand Waves have launched its new range of Micro-wave Oven in the market. It is first of its kind in the market with reference to state of the art multi-wave technology which ensures not only instant cooking but keeps all essential food ingredients and vitamins preserved.

Smart, sleek and sophisticated design provides it ambience and utility in all the kitchens because of its vast spacious interior and efficient working which proves it not only a mere piece of decoration but an unavoidable necessity and most important tool in Households.


The Board of Engro Chemical Pakistan Ltd. announced that Mr. Asad Umar, currently Senior Vice President, has been designated to succeed Mr. Zaffar A. Khan as President & Chief Executive of the Company. Mr. Zaffar A. Khan retires on January 4, 2004 after serving the company for 35 years of which the last six and a half years were as the President & CEO.

Mr. Asad Umar obtained his MBA from IBA Karachi in 1984 and joined the Company in 1985. He progressed rapidly in the organization working in Karachi, Daharki and Edmonton (Canada) in Finance, Manufacturing, Marketing and New Ventures Division. Asad was also the first President of Engro Asahi Polymer & Chemicals Ltd., a joint venture of Engro.




Cathay Pacific Airways released traffic figures for September 2003 that show a continued narrowing in the gap between the number of passengers carried compared to the same month a year ago.

In September 2003 Cathay Pacific carried 951,703 passengers, down 3.2 percent year-on-year. This was less than August's 5.3 percent shortfall.

September's passenger total dipped below the 1,083,011 carried in August 2003 as the peak summer travel season drew to a close. The passenger load factor increased 4.4 percentage points up from September last year a reflection of a similar 4.3 percent reduction in available seat capacity.

The airline carried 75,651 tonnes of freight in September, virtually unchanged year-on-year, though up from 70,452 tonnes in August 2003 as orders picked up after the summer break. The cargo load factor was 67.7 percent, down 3.3 percentage points from September 2002.

Ali Ahmed Khan, CEO and Managing Director, Reckitt Benckiser, speaking on "Brand Transition" at a meeting organized by MAP (Marketing Association of Pakistan) Karachi Chapter recently.