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.
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
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.