Jan 12 - 18, 2004

 

IRANIAN DELEGATION REVIEWED IRAN-PAKISTAN PIPELINE PROJECT

A high level Iranian delegation from the petroleum sector, led by H.E M. H. Nejad Hosseinian, Deputy Minister for International Affairs, Islamic Republic of Iran visited Sui Southern Gas Company's Head Office. The delegation had detailed discussions with the Sui Southern Gas Company (SSGC)/Inter State Gas System Limited (ISGSL) senior management led by Mr. Munawar Baseer Ahmed, Managing Director of both companies.
The MD SSGC/ISGSL welcomed the distinguished guests and after preliminary introduction from both sides, the delegation was given a presentation on SSGC/ISGSL activities. The MD particularly highlighted SSGC's major development expansion

 

 

project of US$600 million, which will result in the enhancement of the Company's transmission capacity from 1200 MMCFD to 1800 MMCFD by laying 630 km of additional high pressure pipelines alongwith 3500 km of distribution system.

The MD also informed the delegation that ISGSL is a joint venture of SSGC and ISGSL, which is acting as a front end entity for determining potential gas supply and demand requirements of Pakistan on a long term basis and to coordinate between various players associated with the import of natural gas from across the neighboring countries such as Qatar, Iran and Turkmenistan. During the course of presentation, capabilities of both SSGC and SNGPL were reviewed for undertaking the potential import pipeline. The delegation was advised that, as a follow up of the working group meeting at Islamabad, a technical committee comprising experts from both gas companies and ISGSL, will be visiting Iran within the next one month to further refine the modalities proposed for the pipeline routing, design specifications and project implementation.

MD welcomed the Iranian proposal to bring gas at the Pak Iran border and for Pakistan to develop its own infrastructure for further distribution within Pakistan. Both sides agreed to continue to remain engaged in the exchange of information and find ways and means for mutual co-operation in the execution of regional gas pipeline projects.

REGIONAL TRADE BETWEEN SAARC COUNTRIES

In a press briefing Mr. Zubair Ahmed Malik, President Islamabad Chamber of Commerce & Industry (ICCI) has welcomed the SAARC Foreign Ministers draft agreement to promote South Asian Free Trade Agreement (SAFTA) between the seven nations of SAARC subject to its approval by SAARC Summit.The regional agreement holds great promise to achieve unity, harmony and poverty alleviation among the member countries of SAARC, he said

Mr. Malik emphasized that it is vital that face-to-face meeting be held between President Pervez Musharraf and Indian Prime Minister Vajpayee during the SAARC Summit in Islamabad, so that confidence building measures inititated by Pakistan over the last few weeks are fully reciprocated by India and the outstanding disputes, in particular the core issue of Jammu and Kashmir, are solved through dialogue. Solution of these disputes is essential for economic cooperation n the SAARC region.

4TH CMC MEETING OF APTMA

The 4th meeting of central managing committee of aptma was held at aptma principal office, Karachi. The proceedings of the meeting commenced with the recitation from the Holy Quran. The members deliberated the agenda points in a very cordial atmosphere like cotton, yarn, fabric situation and DTRE. The cmc reviewed the financial situation of the association and expressed satisfaction. The existing legal committee gave its report. The CMC confirmed the minutes of 2nd and 3rd cmc meetings held earlier.

The Chairman aptma Mr. M. Waqar Monnoo in his opening remarks called upon the members to come forward with open heart and work together for the betterment of the textile industry and strengthen the economic policies of the government for the promotion of the industry.

The cmc members unanimously resolved that the election of chairman was proper and no irregularity was found in the election. It was further resolved to stand by the chairman against those elements who are using wrong tactics in removing the elected chairman.

DR. MAHMOOD NAWAZ KHAN PASSED AWAY

Dr. Mahmood Nawaz Khan, brother of Brig. Sadiq Nawaz Awan, Chairman DHL and Khalid Awan, Chairman TCS passed away on January 2, 2004 due to a cardiac arrest. To his family, he was an exemplary father, a loving brother, a caring husband, most giving son, wonderful uncle and a trust worthy friend, and to others he was a physician, and who was divinely gifted to alleviate human suffering. An exceptional man in every regard, Dr. Mahmood Khan served in the Punjab Health Department. He was the 1st best graduate, gold medallist from Nishtar Medical College Circa 1956 and was also a Fellow Royal College of Physician Edinburgh, UK.

APTMA'S MEETING WITH STATE BANK OF PAKISTAN

Chairman APTMA, Mr. Waqar Monnoo, alongwith senior members, called on the Executive Director, Banking Policy Department, Mr. Mansoor-ur-Rehman and Director, Mr. Kamran Shahzad to appraise them of the issues being faced by members in respect of banking matters. SBP attitude towards problem resolution was appreciated and various issues were discussed.

MINISTRY OF WOMEN DEVELOPMENT SINDH AND KO-ORDINATION GROUP TO SIGN MOU

On the occasion of inauguration ceremony of Muslim Ladies Technical & Industrial Institute Nanakwada Karachi, Mrs. Farzana Saleem (Coordination Ministry of Women Development Sindh) expressed the need of combine efforts by Government and Private sector for women development. On behalf of Dr. Saeeda Malik (Minister for Women Development Sindh), she asked Ko-ordination group to sign memorandum of understanding (MoU) with the Ministry of Women Development to utilize extreme efforts of both entities for the development of women in the province.

 

 

Institute was inaugurated by Dr. Saeeda Malik (Minister for Women Development Sindh) on Saturday 27th Dec 2003 while Mrs. Hanifa O. V. Jooma presided the ceremony.

Woman is the one who give birth to a child and this child has to become the future of our motherland. In order to have a better future for our beloved country, need of the hour is to divert our concerns to the social welfare especially to women development. It is a manifest truth that our women particularly the women who are living in rural areas are facing miserable circumstances whether it is health, education, poverty, crimes against her and lots of other tribulations.

Social welfare and Ko-ordination Group have always remain intact. In this view it is an opportunity for Ko-ordination Group to carry out its interest on broader spectrum with the help of Government. This combine effort will go a long way and finally will happen to be fruitful for the whole nation InshAllah.

INVESTOR CONFERENCE

An investor conference was arranged for the upcoming Initial Public Offering of WorldCall Broadband Limited ("WBL") on Monday January 5th 2004 at the Marriott Hotel, Karachi. The Issue has generated a lot of interest among the large Institutional Investors evident from the large turnaround at the presentation. WBL was provisionally listed on the Karachi Stock Exchange ("KSE") and the Lahore Stock Exchange ("LSE") on December 29, 2003. The share has been trading in a range of Rs.14.8-18.5 per share in good volumes. The Public Issue of 30,000,000 Ordinary Shares is being made at an Offer Price of Rs.10 per share that will take place Insha'Allah on 7th and 8th January 2004 during the banking hours.

Gerry's International, licensee of Federal Express Corporation recently participated in the life style exhibition held in Karachi, Lahore and Islamabad. Picture shows employees of Gerry's International, licensee of Federal Express Corporation at their stall during the exhibition.

MCB _ HAJJ SEMINAR 2004 AT BAIT-UL-HAJJAJ, KARACHI

As part of on going tradition Muslim Commercial Bank Lid. has arranged a Hajj Training Seminar at Bait -ul-Hajjaj, Karachi to appraise all intending Haji's on rituals of Hajj.