KSE-100 index. This shows the professional
commitment of its management due to which NIT was in position to
provide superior returns to its unit holders for the last three
years in a row.
As a result of its concerted marketing efforts
NIT recorded a life time high sale of its units at Rs. 11,757
million for the year 2003-04 that resulted into a positive sales of
Rs.2,100 million as compared to a negative sales of Rs. 901 million
during the last year that depicts the increasingly growing
confidence of its investors. A record amount of NIT units worth Rs
9,657 million were redeemed during the year but the system and
procedures that had been strengthened at NIT during the last few
years, enabled it to meet all such redemption to the utmost
satisfaction of its investors that went a long way in further
enhancing the confidence of its unit holders/investors.
The net income of the fund (excluding unrealized
gains) increased significantly by 42% to Rs. 4,233 million against
Rs. 2,981 million earned during the last financial year of 2002-03.
NIT has also increased its stock market operations to a great extent
during the previous three years. NIT traded a record high shares of
worth Rs. 12,296 million during the year under review. This enhanced
activity also provided needed support to stock market. As a result
of its increased trading activities and active participation in the
stock market, capital gains realized during this period amounted to
Rs. 1,939 million that are highest during the last 8 years and are
remarkably higher by higher by 99.5% compared to Rs. 972 million of
QARSHI TO PROMOTE NATURAL MEDICINE
Qarshi Industries (Pvt) Limited reiterated its
commitment to promote the usage of natural medicine in Pakistan
through Tibb and Tabeeb, at the First Hakeems' Convention 2004 held
The theme of the convention was "Bringing
Back the Glory of Tibb and Tabeeb with Qarshi" and was attended
by more than 250 prominent hakeems from all over the city. This was
the first time that such an occasion had been held in Karachi.
Natural medicine is made from plants and herbs,
is an age-old practice and has proven beyond any doubt, that its
proper and sustained application can cure any illness or disease.
Before the introduction of allopathic medicines, natural or herb
based medicines had always been the cure-of-choice, without any side
effects and with a very high chance of removing aliments from their
Mr. Nouman Ahmed Usmani, National Sales Manager,
Consumer Products Division, while inaugurating the convention said,
"Qarshi Industries is committed to the promotion of natural
medicine, and to this effect we invite practitioners of natural
medicine to interact with our highly qualified research and
development team for the growth of this widely accepted method of
medical practice for the benefit of the people of Pakistan."
ROLE OF FAMILY PHYSICIANS IN HEALTH CARE
Throughout the world, governments have an
interest in the health of their people. At the same time, whatever
their level of resources and development, all governments recognize
that healthcare costs must be constrained and they have to seek ways
of ensuring best possible health gain for each unit of health
expenditure. This becomes all the more important in countries like
Pakistan where resources are scarce and hence service priorities
must be narrowly focused.
Globally over-specialization of physicians has
fragmented and created barriers to the provision of essential care
to individuals. Health systems need physicians trained to meet a
broad range of community health needs. This makes the role of
physician integral to an efficient health care delivery system. Many
developing countries have curtailed their high mortality rates just
by focusing on the component of health care delivery.
Family physicians doctors able to take care of
whole families. These individuals trained in the area of family
medicine, adult, pediatric medicine and women's healthcare treat 90
percent of a family's medical needs. Family physicians ensure
delivery of comprehensive, continuous, coordinated and personalized
Statistics indicate that in Pakistan, the demand
for family practitioners is maximal for treatment of illnesses of
short duration i.e. 3 days whereas in case of illnesses with
duration longer than 3 days, specialists are mainly consulted.
Keeping in view the fact that diseases such as diarrhea/dysentery,
respiratory tract infections, tuberculosis, typhoid, malaria etc.
(which can effectively be treated by family physicians) are amongst
the most common causes of deaths in Pakistan, the role of these
practitioners becomes all the more profound.
Specialist services, both diagnostic and
therapeutic in comparison with those of primary care physicians are
more expensive. They are more effective only when the specialist's
expertise is appropriate to the patient's needs and when the patient
presents at the right point in the natural history of his or her
Self-referral by patients, unaided by a primary
care provider (Family practitioners) is thus often ineffective for
it may occur too early in the course of the illness or the initial
choice of specialist may be inappropriate requiring further
referral. Access to specialists should in general be through
referral by primary care providers only. Since the referral decision
is fairly technical, the better trained the primary care provider,
the better the initial care provided and the more efficient the
However, until and unless health systems invest
in maximally trained primary care providers, who can efficiently and
comprehensively deal with the patients' needs, patients shall
continue to self refer, thus overloading secondary and tertiary care
facilities with problems that can easily be handled cost efficiently
at the primary care level. At present in Pakistan very few family
practitioners have the requisite training and postgraduate diploma
in family medicine. Lack of postgraduate training facilities in
family medicine being the most probable cause. Educational bodies in
Pakistan should take upon themselves the responsibility of creating
better opportunities for postgraduate training in family medicine,
thereby ensuring access to better quality, cost-efficient
healthcare. Allianz EFU Health Insurance is the only health insurer
in Pakistan that offers a network of nearly 100 carefully selected
postgraduate family practitioners to its insured members.
DIVIDEND DECLARATION — PAKISTAN INCOME FUND (PIF)
Pakistan Income Fund, managed by Arif Habib
Investments, has declared bonus dividend at the rate of 9% (Rs 4.50
per unit on face value of Rs 50) for the year ended June 2004. PIF
is the country's first and largest fixed income open-end fund. The
company's equity fund, Pakistan Stock Market Fund has already
announced 60% (Rs 30 per unit on face value of Rs 50) bonus dividend
At the close of financial year 2003-04, PSM and
PIF stand as best performing funds on total return basis in their
PIF earned a total distributable income of Rs.
284 million (Rs. 4.55 per unit). Out of this, the fund will be
distributing Rs. 281 million, which amounts to Rs. 4.50 per unit.
The fund has grown from Rs.1,501 million last year to Rs. 3,400
million by June 30, 2004. The Net Asset Value has increased by 7.47%
(Rs. 3.80 per unit) to Rs 54.53 from Rs. 50.73 a year ago. An
investor holding 100 units as of June 30, 2004 would get 8.99
additional units at the ex-bonus repurchase price of Rs. 50.03 per
2003-4 has been a good year for fund managers in
Pakistan. Riding on a robust stock market, equity and balanced funds
have provided their investors incomparable returns. However, it was
not the market alone; credit should be given to fund managers as
equity funds have been able to out perform the market. In the new
interest rate scenario fixed income funds have also provided an
attractive alternative to investors who are more concerned with
capital protection. These funds have managed to out perform bank
deposits and National Saving Schemes on a net-of-tax basis. Most
fixed income fund managers have performed well under the
circumstances. Arif Habib Investments, however, has achieved the
unique distinction of managing the best performing funds of the year
in both fixed income and equity categories. The PSM and PIF have
been the best performing funds in their respective categories.
DHL PAKISTAN LAUNCHES EXPRESS PALLET
DHL, the world's leading express and logistics
company, officially announced the launch of a new innovative
business solution in Pakistan. The Express Pallet — a packaging
and transport solution specifically designed to match the customer's
real time distribution systems as well as packaging configuration
that provides durability, convenience and flexibility, all in one
The Express Pallet box has been designed in
accordance with world-class packaging standards, in consultation
with various industries of their stringent requirements and diverse
transport needs, having Pakistan's exporters in mind, such as the
producers of Textile, Automotive, High Technology, Sports and
Fashion Knit Industries, one of Pakistan's
leading textile exporters, was DHL's first customers in Pakistan
that used the Express Pallet product. Present at the occasion of the
lift of the initial Express Pallet shipment leaving Pakistan was Mr.
Farhan Saya, Director at Fashion Knit Industries. Mr. Saya
emphasized that DHL's new packaging and transport solution will
benefit exporters in general and the Textile and Fashion industry in
particular as it caters to heavy weight shipments and he expressed
that the packaging of the same is highly durable. DHL Pakistan's
senior marketing and sales representatives, also present at this
event, pointed out that DHL envisions higher export volumes from
Pakistan with the forthcoming entry into the fold of WTO countries.
To support this, DHL saw the need for and the potential of this
special palletized product to supplement the Pakistani exporters.
Made of sturdy reinforced cardboard material, the
Express Pallet has perforated slides that can be folded to create
compartments that fit shipment volumes weighing 50kg, 75kg, and
100kg. Each box is built to withstand 300kg. This weather-resistant
box is also palletized to allow for easier handling by forklift. It
presents customers with a tangible product that clearly shows DHL's
resolve to meet customers' needs in the heavier weight bracket.
DHL Express is the first and currently the only
air express provider in Pakistan that is giving customers the option
of sending heavier and bulkier goods in the air express industry by
offering this special palletized product. DHL Pakistan stressed that
its all-inclusive door-to-door price for the Express Pallet covers
packaging, pick up, documentation, carriage, customs clearance and
delivery to the customer's door. The Express Pallet is price
competitive with flat rates offered to all major international
With annual revenues of nearly 22 billion euro in
2003, DHL is the global market leader of the international express
and logistics industry, specialising in providing innovative and
customised solutions from a single source.
DHL offers expertise in express, air and ocean
freight, overland transport and logistics solutions, combined with
worldwide coverage and an in-depth understanding of local markets.
DHL's international network links more than 220 countries and
territories worldwide. Over 160,000 employees are dedicated to
providing fast and reliable services that exceed customers'
DHL is 100% owned by Deutsche Post World Net.
PICIC SELECTS OPEN STANDARDS BASED CALL CENTER BY
With an aggressive strategy of penetrating into
the new markets, PICIC is introducing new and exciting financial
products and services. In order to entertain these inquiries through
a proper call center, PICIC has selected ZRG for providing a full
service and flexible call center solution. The solution can readily
handle calls of customer calling on the advertised toll free
0800-55550 and can be scaled to support future products.
PICIC evaluated all the available solutions in a
straight manner and after detailed assessment PICIC selected ZRG
call center solution that meets all the criteria including proven
performance, open standards, wide client base, flexibility and cost
ZRG International (Pvt) Ltd (www.zrg.com) is a
leading call center solution provider in Pakistan that has been
providing call center solutions since 1994. ZRG clients include 10
leading banks, 3 major cellular companies, the largest oil marketing
company and largest gas company of Pakistan.