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KARACHI
Today 12 26 38 Sunny
Tomorrow 11 27 38 Sunny
Day after 11 28 38 Sunny
LAHORE
Today 1 20 87 Sunny
Tomorrow 2 20 87 Sunny
Day after 2 21 87 Sunny
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Tomorrow 0 18 59 Sunny
Day after 0 21 59 Sunny
HUM%: Humidity In %
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updated: Fri - Sun 23-25 Dec, 2005

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KARACHI         - 021 LAHORE          - 042 ISLAMABAD    - 051 FAISALABAD   - 041 MULTAN          - 061 PESHAWAR    - 0521 CANADA          - 1 KUWAIT           - 965 INDIA               - 91 IRAN                - 98 U.K                   - 44 U.A.E                - 971 U.S.A                - 1

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  DEPARTMENTS
 

IN THE NEWS
. INTERNATIONAL
. PAKISTAN
 

 

 

 

 
  ANNOUNCEMENT

 Oct 10 - 16, 2005

FAYSAL INCOME & GROWTH FUND LAUNCHED

Faysal Asset Management Limited (FAML), a group company of Faysal Bank Limited, AKD Securities (Pvt.) Ltd. and Islamic Investment Company of the Gulf (Bahamas), has announced the launch of its new open-end mutual fund, Faysal Income & Growth Fund (FIGF) with effect from October 10. FAML is currently managing an open-end fund, Faysal Balanced Growth Fund with over PKR 1.9 billion under management.

Mr. Ahsan Raza Durrani, the CE0 of FAML, briefed the salient features of the new fund -FIGF - and laid out the future plans of FAML for launching an Islamic fund. Mr. Durrani emphasized the unique investment strategy of FIGF, wherein the fund will invest at least 90% of its Net Asset Value (NAV) in fixed income securities of which, at least 63% will be invested in Government Securities, like T-Bills & PIBs, whereas the Fund may invest not more than 10% in dividend yielding equity securities.

Mr. Ajaz Rahim, EVP & DGM-Faysal Bank, highlighted Faysal Bank's pioneering role as a leading commercial bank in the promotion of mutual funds in Pakistan. With reference to the conservative investment strategy of FIGF, Mr. Ajaz said he is confident that the new fund, FIGF will promote saving and investment climate in Pakistan as being a tax efficient dividend yield investment opportunity. The new Fund is an ideal investment opportunity for conservative investors in General Public like individuals, provident/gratuity/pension funds, body corporate and public sector entities/funds and Financial Institutions.

TVONE BEGINS TRANSMISSION

After much hype, TVONE began its formal transmission from 4th September 2005. A progressive channel that aims to portray the views and provide entertainment for modern Pakistan, the much awaited launch has been a great success.

With activities on floats that left no corner of Karachi untouched, the public enjoyed live performances and the opportunity, to put their own potential talents to the test. Indeed, the name TVONE has become synonymous with healthy and happening entertainment.

Following the theme of "Pakistan hai number one", TVONE launched its Mera Ghar No. 1, Mera Channel TVONE" promotion. The TVONE crew went from house to house to search for people viewing TVONE. Where they found TVONE viewers, a cheque for Rs. 10,000 was instantly signed and handed over. This activity was carried out not only in Karachi, but also in major cities across Pakistan where numerous Rs. 10,000 cheques were given out to all those people who were found to be watching the channel. With such exciting activities and unbelievable prizes, TVONE has built a name for itself by creating such excitement and also providing in a sense for the Pakistani people.

With exciting new shows whose promos are being aired on the channel, viewers waited anxiously for the programming to begin. We now wait for TVONE programming to take Pakistan, and those who are watching around the world, by storm.

WORLD SCHOOL MILK DAY CELEBRATED

Tetra Pak Pakistan orgainised a daylong carnival at the PAF museum in Karachi to mark the first-ever celebration of World School Milk Day in Karachi. Thousands of children, parents and families participated enthusiastically in the event. Tetra Pak's dairy customers and children from more than 27 schools had set up stalls offering various fun-filled activities highlighting the benefits of drinking healthy milk. A similar event was held in Lahore on September 24, in which more than 35 schools participated.

In Karachi this year, the event included athletics competition, inter-school stall competition (where the theme was milk), a poster competition, where the children displayed their artistic skills and also staged tableau, besides a milk theme fancy dress competition. Winners were awarded prizes and trophies and all participating students were giving certificates by Tetra Pak. Great interest and zeal was clearly visible among the participating children, whether on the athletics track or in other activities.

"World School Milk Day is celebrated in about 85 countries of the world and Tetra Pak is proud that through this event, Pakistan has also joined the international community in this vital activity," remarked Kashif Bhatti, General Manager South, Tetra Pak. "The ultimate objective is to introduce the concept of a School Milk Programme in Pakistan, like in many countries of the world. Children need to have milk daily in their diet and this in just what a school milk progamme ensures," he added.

FIGHTING THE COUNTERFEITS

By Syed Ali

An explosive growth in Pakistan's counterfeit market has attracted the suspicious gaze of the WTO. The infiltration of fake products has cost both the government and people much beyond quantifiable extents. Yet there seems to be an indulgence in both the sale and purchase of cheap copies of brands. The victim list is on an ever increase and the laws pertaining to intellectual property rights pass away unnoticed.

Time has however struck when the government is being pressurized by foreign markets to expedite the growing violation of these defined rights. Recently the US has claimed damages against IPR abuses and the unilateral cancellation of licences, at the failure of which the World Bank will pay compensation on Pakistan's behalf and consider the amount as a loan extended to the nation.

Such situations have played havoc as far as foreign investments are concerned. Many entrepreneurs and foreign businessmen show reluctance in forwarding investment plans in Pakistan as they fear copyright violations and that the fake copies of their brands would fast appear in the market, stumping the growth of their industries and enterprises.

The government has recently established an umbrella body under the name of Pakistan Intellectual Property Rights Organization (PIPRO) covering segments of IPRs and efforts are made in systemizing the IPRs in a compact manner, which will lend credibility and efficiency to the system in place.

But whilst strategies are being devised on how PIPRO can end the malaise of violation of IPRs, coordinated efforts in a form of consistent campaigns by both public and private sector will have to be launched to battle fake products' accessibility. The end consumer will have to be aware whilst making a purchase decision and a sense of responsibility for one's individual self will have to be inculcated.

INSTAPHONE HOLDS LUCKY DRAW CEREMONY

Instaphone, one of the pioneering and leading mobile phone company in Pakistan, held an award distribution ceremony for the winners of the Call a Day Consumer Promotion in a glamorous ceremony held in a 5 star hotel in Karachi.

This ceremony was the result of the promo that gave people a chance to win fabulous prizes like a brand new 2.0D car, plasma television, DVD home theatre system, Dubai return tickets, and mobile phones with Rs.1, 000 worth of airtime. These prizes attracted thousands of people from different strata and classes and they took part in this one of its kind opportunity. The promo consisted of 5 draws in all, 4 for the weekly prizes (Plasma TV, DVD Home theatre, Dubai return tickets, Mobile Phones) and one for the grand prize (2000 CC Grand Sedan) held at the end of the promo month. To participate in the weekly draws, the subscriber needed to register one call daily within the week, while for the grand draw, the participants had to make just one daily call during the month.

INTERLINE FARES: EMIRATES HOLDS SEMINAR FOR TRAVEL AGENTS

Emirates, one of the world's fastest-growing airlines conducted a colloquium to apprise its travel partners of the new Interline Fares.

The pricing seminar conducted at Avari Towers, Karachi, brought together leading travel agents, totaling almost 150 in number. The seminar included presentations on topics relating to New Interline Fares for Europe, Africa, Middle East, South Asian Subcontinent, Far East and South West Pacific. New routing guidelines were established for travel agents, and fare combinations were also discussed.

Parallel to this, other seminars took place in Islamabad, Lahore, Peshawar, Multan, Sialkot and Faisalabad.

The travel agents were also updated on new Emirates Holidays products and features particularly the Dubai Stopover product which has been developed to showcase the city as progressive and chic with a rich past. Currently, Emirates Holidays offers flexible, affordable and quality holidays to 100 leisure destinations in 36 countries in Asia, Australasia, Africa, the Indian Ocean, the Middle East, Europe and North America.

 
 

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