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
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
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.
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.