Sep 13 - 19, 2004

 

CITIBANK AND MOBILINK LAUNCH ONLINE BILL PAYMENT FACILITY

MOBILINK, the largest cellular service provider in Pakistan, has joined hands with Citibank to offer online bill payment facilities. It allows post-paid subscribers of Mobilink holding a Visa/MasterCard credit card to log on to Mobilink's website and pay their Mobilink dues online.
"Mobilink is always trying to offer its consumers more value", said Zouhair A. Khaliq, President & CEO, Mobilink. "The online bill payment solution, in collaboration with Citibank, is another example of how we are committed to making life easier for our consumers, taking care of the logistical issues so that our customers can enjoy un-interrupted communication."

 

 

Citibank is currently the only bank in Pakistan which provides Rupee-based Internet Merchant accounts within the country. This secure service, which uses the highest level of 128-bit SSL encryption, is a major step towards the growth of E-commerce in Pakistan.

HUBCO BOARD OF DIRECTORS ANNOUNCE FINAL DIVIDEND

Hubco is Pleased to announce that its Board of Directors in its meeting in London has recommended a Final Dividend, of 16% (Rs.1.60 per share) for the year ended June 30, 2004. Today's announcement is in addition to 16% (Rs.1.60 per share) interim dividend already paid on April 28, 2004.

The Annual General Meeting (AGM) of the Company is due to be held in Islamabad on October 13, 2004 to approve the annual accounts of the company, approve and declare the total dividend and other matters.

OIC TASK FORCE MEETING IN BANGKOK

On the kind invitation of the Ministry of Commerce, Kingdom of Thailand and Thai Islamic Trade and Industrial Association, the Secretary General of Islamic Chamber of Commerce & Industry H.E. Aqeel A. AI-Jassem would be undertaking a visit to Bangkok, Kingdom of Thailand from September 6th to 9th 2004 to discuss the perparatory arrangements for holding the 4th OIC Task Force Meeting on SMEs in Bangkok, Thailand in 2005. The said event is being jointly organized by Islamic Chamber of Commerce & Industry (ICCI), Islamic Development Bank (IDB), Department of Export Promotion, Ministry of Commerce, Kingdom of Thailand and Thai Islamic Trade and Industrial Association (TITIA).

H.E. Aqeel A. AI-Jassem, is a Kuwaiti national and was associated with Kuwait Chamber of Commerce and Industry for more than 32 years, wherein he served in numerous capacities till 1994, when he was appointed as Secretary General of the Islamic Chamber of Commerce and Industry in Karachi.

Small and Medium Enterprises (SMEs) play a significant role in economic growth, job creation, local development and social cohesion in the economies of the OIC Countries. There is a need to underscore the challenges and constraints faced by the SME sector, which is the backbone of private sector. There is also a need to collectively find out mechanism to promote and strengthen SMEs in OIC Countries, in order to combat poverty alleviation. In this context, the Secretary General of OIC has accepted the proposal of the Islamic Chamber of Commerce and Industry (ICCI) to set-up OIC Task Force on SMEs. The objective is that each year, a member country will be selected, where the operations of SMEs may be assessed so that the requirements of SMEs in that country may be clearly thrashed out and thereafter the necessary support may be provided to develop them.

 

 

Three such meetings of the OIC Task Force on SMEs were so far held, first, in Dhaka, Bangladesh in January 2002, second in Maputo, Mozambique in May 2003 and the third in Lahore, Pakistan in March 2004, which was jointly organized by Islamic Chamber of Commerce & Industry, Islamic Development Bank, Small & Medium Enterprise Development Authority (SMEDA) and Ministry of Industries & Production, Government of Pakistan.

During the visit H.E. Aqeel A. AI-Jassem will meet H.E. Wan Mohammednoor Matha, Deputy Prime Minister of Thailand, President of Board of Trade, Secretary of Ministry of Industry, Director General of Department of Export Promotion, Governor of Tourism Authority, Governor of Industry Estate Authority and Board of Directors of Thai Islamic Trade and Industrial Association.

It maybe mentioned that kingdom of Thailand has got an observer status of the Organization of Islmic Conference (OIC) in 1998. The Thai Islamic Trade and Industrial Association has been given the observer membership of the Islamic Chamber of Commerce & Industry in 2004. Since then, Islamic Chamber has developed an active working relationship to improve and enhance the bi-Iateral ties between the Kingdom of Thailand and OIC Countries to achieve the common objectives. The holding of the 4th OIC Task Force Meeting on SMEs in Bangkok in 2005 would strengthen the partnership of the two institutions and would also help in facilitating increased trade & investment and stronger economic ties for greater integration among Thailand and OIC Countries.

CHAIRMAN APTMA HAILS SEPARATE MINISTRY FOR TEXTILE

M. Waqar Monnoo, Chairman Aptma, has lauded the visionary decision taken by the new Prime Minister, Shaukat Aziz to set up separate ministry for Textile Industries. He also appreciated nomination of Mushtaq Ali Cheema as the first Minister for Textiles. Mr. Monnoo hoped that Mushtaq Cheema, being an industrialist, would be the right choice as he is well aware of the problems and challenges being faced by the textile industry.

Mr. Monnoo further said that separate textile ministry was the need of the hour as we are at the doorstep of the quota free WTO era. It has been a long outstanding proposal of APTMA as the technical peculiarities and sophisticated methods of production differentiates textile sector from other industrial segments of the economy. India, Bangladesh and Sri Lanka had set up separate ministries for their textiles long time ago which enabled them today to become the major competitors in textile products in a short span. Indian Textile Ministry coordinates/monitors the activities relating to research & development in collaboration with Textile Associations. It also extends financial support to the Associations for undertaking research and development projects.