National Bank of Pakistan is a co-arranger and
participant in the transaction whereas other participating banks
include Allied Bank of Pakistan, KASB Bank, Pak Libya Holding Co. (Pvt)
Ltd, Bank of Punjab, Pak Kuwait Investment Co. (Pvt) Ltd, Bank A1
Habib, First Women Bank Limited and First Credit & Discount
Attock Cement Pakistan Limited (ACPL) is a member
of the Attock Group of Companies sponsored by Dr. Ghaith R. Pharaon,
an international investor and industrialist who has apart from his
financial and trading interests in other parts of the world, made very
substantial investments in Pakistan in Petroleum, Chemicals and Cement
sectors. Pharaon Commercial Investment Group Limited of Saudi Arabia
is the major stakeholder in the ACPL. Pharaon Group of companies are
run and managed by competent, motivated and committed teams of highly
skilled and experienced management. Pak Oilfields Limited, Attock
Refinery Limited and Attock Petroleum Limited are the three other
listed companies of the group in Pakistan having a market
capitalization of around US dollar one billion. ACPL is a leading
cement manufacturer with a strong market presence in the southern
region of Pakistan with net sales of over Rs1.8 billion in the
financial year ended June 30, 2004.
The capacity of the cement industry is expected to
increase from the existing 17 million tonnes to around 35 million
tonnes in the next 3 years. This expansion is expected in view of new
and undergoing infrastructure projects, upcoming dams and canal lining
projects, clinker exports, rapid construction of residential and
commercial buildings and general growth of the economy.
Faysal Bank is one of the leading banks of Pakistan
and part of the Dar A1 Maal A1 Islami (DMI) Group. The Bank has been
operating locally since 1987 and has contributed positively towards
increasing investment opportunities in the country by advising
corporate customers in their financing requirements and then arranging
Faysal Bank opened its new branch in Toba Tek Singh
at beginning of April. This is the Bank's fourteenth branch in Lahore
and 519th in the country.
The branch is situated in the rapidly growing area
of Lahore with various housing schemes, large & medium scale
industries as well as agricultural finance opportunities. Faysal Bank
plans to open at least six branches during 2005.
IGATEX PAKISTAN 2005 STARTS IN KARACHI
The Governor Sindh, Dr. Ishratul Ebad Khan has
inaugurated the 4th International Textile Machinery and Accessories
Exhibition, IGATEX Textile, at the Karachi Expo Centre, on April 13.
The four-day exhibition was attended by a number of
key officials and personnel from private and public sector
organization, both local and foreign, government officials, foreign
Dr. Ishartul Ebad Khan, while addressing to the
audience, deeply appreciated the efforts of the organisers, Pegasus
Consultancy and CEMS Singapore, for their efforts towards the
industrial development of Pakistan, especially Karachi city. He
further ensured the organisers as well as the participating companies
of full support from the Government of Sindh in promoting value-added
exports, while endorsing the policy of the Government to encourage
such interactive events, which promote professionalism and investment
in the country and facilitating trade between foreign and local
companies in this sector.
IGATEX Pakistan 2005 has now diversified and
emerged as two distinct shows of IGATEX Textile and IGATEX Garment,
proving its overwhelming progress, he added. The event would
significantly boost the industrial performance of the country's
textile sector as a timely response to the challenges of quote-free
trade regime, he further added.
Prior to the opening speech of Chief Guest, Dr.
Ishratu1 Ebad Khan, Governor Sindh, welcome speeches were delivered by
Aasim A. Siddiqui, Chairman and Managing Director of Pegasus
Consultancy, Kamal Gur, Ambassador of partner country, Turkey and J.
S. Kim, Apparel Business Manager of Dupont Asia.
In his welcome address, Aasim A. Siddiqui, Managing
Director of the organisers Pegasus Consultancy said that IGATEX
Pakistan will help all the participating companies both local and
international in their investment decisions to add value to the
textile industry. He also offered special thanks to the Government of
Turkey to participate as the partner country and CEMS, Singapore to
show confidence on our efforts.
Kim introduced Dupont Asia in his opening address
and said that Dupont brought innovation and introduced value-added
products in Pakistan's Textile Industry. The motive behind the
participation of Dupont Asia and supporting local textile exhibition
is to provide platform to the participants to display their latest
technology, products and offerings and to directly communicate to
their customers for seeking future business clienteles.
Kamal Gur in his address said that it is the third
time that the Turkey is participating in IGATEX Pakistan. He also
expressed his happiness over the warmest welcome that he received in
Pakistan. He said that Turkey and Pakistan are textile countries, so
both should compete and complement each other and this would
definitely bring future prospects for our political, social and
Turkey wants to see Pakistan rich and strong,
rendering valuable services for the welfare, stability and prosperity
of South Asia, he added. He ended up with the announcement that Turkey
will also be participating in IGATEX Pakistan next year.
In the end, thank you note was given by Edward Liu,
Managing Director of CEMS, Singapore, where he explained the
significance of this event and said that the beginning of the quota
free regime from 2005 will mark a new challenge for the textile
industry the world over and IGATEX Pakistan 2005 will endeavor to
provide a world class showcase of the best in textile technology by
providing the definitive platform to industry leaders and key decision
makers; ultimately benefiting both Pakistani and international
Later, Governor Sindh, Dr. Ishratu1 Ebad Khan
formally inaugurated the exhibition and visited the stalls. He met
with the foreign and local exhibitors and showed keen interest in the
exhibits showcased at the exhibition.
IGATEX Textile Pakistan 2005 will showcase the
largest-ever assortment of latest in technology of the textile
manufacturing machinery being put on display by over 300 top companies
representing 30 countries, including USA, Germany, Turkey, Spain,
Belgium, UK, UAE, Iran, Thailand, Singapore, Taiwan, Korea and Japan.
STOCK TRADING WEBSITE LAUNCHED
Federal Minister for Privatization Dr. Abdul Hafeez
Sheikh officially launched the online stock trading website
www.livetradeonline.com, which has been established by Live Securities
(Pvt) Ltd., a Khanani & Kalia Group of company.
Live Trade Online provides information, research,
live streaming rates, future trading and advisory services to
investors. Investors are able to access information about equity
trading, securities & economic research, risk management,
portfolio management and investment consultancy.
"While the confidence of foreign investors is
also increasing, which is a positive signal for the economy of
Pakistan, the Government is making all possible efforts to boost the
economic activities in the country by successfully implementing a
privatization program which is leading to economic progress,"
Federal Minister said.
Chairman KSE, Yaseen Lakhani in his address said
that the current rapid growth in the stock exchange was the result of
successful government foreign policies especially improvement in
PakIndia bilateral relations, privatization policy and economical
"After development in KSE, the image of
Pakistan at an international level has improved. Crossing the limit of
10,000 index is a great achievement and it should be sustained at the
same level," he added.
He said this achievement was only made possible by
positive policies of government and if it continued, market would
continue to rise. "Progress in textile industry and
implementation of WTO in Pakistan also contributed towards better
position of KSE beside other factors like record increase in
agricultural production, better wheat crop and increase of GDP,"
MICROSOFT INAUGURATES KALSOFT ACADEMY
Microsoft Corporation officially announced the
appointment of Kalsoft as a Certified Partner in Learning Solutions (CPLS)
for the Southern part of Pakistan emphasizing its commitment to ensure
high quality training standards to the local market.
Microsoft awards this competency to its technology
partners who have proven their ability to provide training based on
Microsoft official curriculum to individuals and organizations that
are running their business and mission critical applications on the
Emre Berkin, Chairman of Microsoft Middle East
& Africa Region, formally inaugurated the KalSoft Academy
recently, a purpose built facility to impart training to the corporate
entities in Karachi.
Abdul Ghaffar Memon, CEO KalSoft said,
"Earning this competency demonstrates Kalsoft's commitment and
ability to deliver high quality learning services, including skills
assessment, technical training, student mentoring, and Microsoft
Certified Professional exam preparation".
KalSoft will provide its customers with the most
comprehensive and authorities training on Microsoft products and
technologies using state-of-the-art tools and world class learning
content from Microsoft, all delivered by expert training
Emre Berkin, Chairman Microsoft Corporation for
Middle East and Africa said, "Setting the standard for high
quality training facilities will impact positively on the credibility
of the certification. We believe that having quality learning solution
partners in Pakistan will help us controlling this quality. Being a
Microsoft CPLS, KalSoft has to follow rigorous requirements from
Microsoft to assure that the highest standards are met. The center has
to employ Microsoft Certified Trainers (MCT) at every site and meet
extensive facility, hardware and system requirements and quarterly
minimum courseware purchase requirements.