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Last updated: Friday 23 Dec, 2005-12.30 P.M (PST)

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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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Today 0 18 59 Sunny
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

Nov 21 - 27, 2005

DR. ISHRAT'S SERVICES LAUDED

Rich tribute was paid to Dr. Ishrat Hussain for his services rendered to the country and the financial sector at a lunch hosted jointly by Leasing Association and Modaraba Association of Pakistan. Besides the members of the Associations, the event was attended by both the Deputy Governors of State Bank, Mr. Tawfiq Hussain and Mr. Mansoor-ur-Rehman Khan. Dr. Tariq Hassan, Chairman SECP, also participated to represent the NBFC sector.

Mr. Farrukh Ansari, Vice Chairman, LAP, enumerated multifarious reforms and improvements achieved through the vision and leadership of Dr. Ishrat Hussain. The significant change brought by him in making State Bank a transparent, vibrant and futuristic institution was particularly lauded. His contribution towards achieving a series of well-planned reforms to improve the capital base and risk exposure of banking sector, stabilizing of currency rates, building the record figure of foreign reserves and bringing about a qualitative change in all aspects of the banking sector were acknowledged.

Dr. Tariq Hassan also enumerated the achievements of Dr. Ishrat Hussain and hoped that his contribution towards upliftment of economy would continue in some form. He believed that talent and experience of Dr. Ishart Hussain were an asset for the nation and would be valued and utilized accordingly.

In appreciation of the meritorious services rendered by Dr. Ishrat Hussain a shield was presented to him on behalf of Modaraba Association and Leasing Association of Pakistan.

Speaking on the occasion, Dr. Ishrat advised the leasing companies and Modarabas to carve out their niche business segments and achieve excellence by training and utilizing high quality human resource. He emphasized the need for increasing the outreach particularly in the urban and rural areas, developing innovative products and services and consolidating the capital and business base by the NBFC's instead of pursuing a fragmented business pattern. For Modarabas, he cited the example of Islamic banks and advised that being the operators of the Islamic financial system, Modarabas could easily penetrate through large clientele requiring the Shariah-based products. He said that instead of competing with the commercial banks, NBFCs should enhance their own specific areas of businesses and co-exist with the commercial banks so that a comprehensive and healthy financial sector could further evolve.

Mr. Ayaz Dawood, Chairman MAP, presented a cheque of Rs. one million to Dr. Tariq Hussain towards the Association's donation for President's Relief Fund for earthquake victims. He said this was in addition to the contribution made individually by the members of both the Associations towards the relief in various forms.

EBM ACHIEVES ISO-14001:2004 CERTIFICATION

Pakistan's leading biscuits maker, English Biscuit Manufacturers (Pvt) Ltd, has been awarded the prestigious ISO 14001:2004 certification from URS auditors recently. The certification has been given to the company after two days of in-depth audit of the entire plant. ISO 14001 Environmental Management System is an international standard that enables an organisation of any size or type to control the impact of its activities, products or services on the natural environment.

The company took the initiative of reaching this goal in August 2004 and conducted monthly gap analysis to check their progress. A company or institution that complies with the requirements can obtain a certificate according to the standard. ISO 14001 has established performance objectives and environmental management systems that companies can follow to prevent pollution, ensure compliance with regulations and achieve continual improvement.

Speaking on this commendable achievement, Khawar M. Butt, the Managing Director of EBM said that EBM is the first ever food manufacturing concern to be awarded with this high certification that qualifies us to meet the strict requirements of European countries. "With this certification we have once again proven that an organisation is successful not because of its strategies and technology but because of its people who are motivated by ideas and values, hopes and aspirations."

ALCATEL AWARDED NEW GSM EXPANSION BY PAKTEL

Alcatel has been awarded a new GSM mobile network expansion and modernization by Paktel Ltd, the Pakistani incumbent owned by Millicom International Cellular (MIC).

The multi-million Euro contract will be executed over 3 phases covering the 4 provinces of the country, with around 1400 sites. It will be implemented by the third quarter next year.

Under the terms of this contract, Alcatel will be supplying Paktel Ltd with its industry-leading Evolium(tm) GSM/GPRS end-to-end solutions including Base Station Sub-Systems (BSS), a new microwave system expansion to carry high-capacity traffic as well as the installation of Base Transceiver Station (BTS) sites in parallel with operation & maintenance support services.

One of the biggest expansion's of MIC at a time in Pakistan is Paktel, with a market expected to grow fiercely from 16 million subscribers in Sept 2005 to 40 million subscribers in 2010 - Alcatel will be supporting Paktel Ltd in expanding its network within the country by delivering much needed quality to enable it to grow its current customer base in an extremely competitive market.

EMIRATES POSTS HALF-YEAR PROFIT OF DHS 922 MILLION

Dubai-based Emirates has announced net profits of Dhs 922 million (US$251 million) for the first six months of the financial year 2005-06, from Ist April to 30th September.

The unaudited results, up seven per cent compared to Dhs 865 million ($236 million) achieved in the same period last year, reflect a strong revenue performance driven by robust passenger and cargo demand, and better yields, which softened the impact of high fuel prices on operating costs.

Emirates' Chairman, HH Sheikh Ahmed bin Saeed Al-Maktoum, said: "While high fuel prices remain the single largest threat to Emirates' achievement of its financial goals, the airline is confident in the future of the air transport industry. Emirates has continued to expand, adding capacity and introducing new services to meet the increasing demand for air travel services from our customers. We are also investing in leading-edge facilities to support our rapidly growing fleet. This includes a new jet engine test facility and an engineering centre that will be one of the world's largest civil aviation maintenance centres when completed."

APTMA LAUDS NBP PRESIDENT'S SERVICES

National Bank has shown remarkable improvement in banking operation. The customer client relationship and intelligent utilization of funds has not only improved earning capacity of the bank but has also helped in improving economy of the country. It is also evident from quoted price of National Bank of Pakistan shares on Stock Exchange.

The endless efforts of NBP's President Syed Ali Reza and his team has won them Star of Asia award for leading financier, reorganisation, modernisation and portfolio diversification. There is no doubt that it is the exemplary leadership and professional competence which enables a financial institution, which entitles the leader in winning such prestigious laurels.

We in APTMA congratulate Syed Ali Reza and his team and solicit continuing assistance to textile industry.

EVERNEW CONCEPTS PARTNERS DENTSU

Evernew Concepts, one of the largest advertising agencies in Pakistan, has announced its association with Dentsu India. Dentsu is the world's single largest agency. With this new partnership, Evernew Concepts expects to deliver a new level of seamless services in integrated communications to a diverse set of clients. Work on large Dentsu clients is expected to begin soon.

Sandeep Goyal, Chairman of Dentsu India said: "Evernew Concepts will be the Dentsu associate agency in Pakistan. We see a lot of opportunities opening up in Pakistan for a lot of our clients... most global clients have now started looking at South Asia as a single geographical entity with similarities in consumer behaviour across the countries. They are hence looking at leveraging common communication platforms wherever possible. A Dentsu presence through Evernew Concepts will help us provide clients seamless service in this very important neighboring market."

Sajjad A. Gul, CEO Evernew Group said: "We look forward to achieving yet better levels in strategy and creativity for our clients. Besides looking at servicing Dentsu clients in Pakistan, we hope to gain from Dentsu's global expertise across diverse categories and also learn from the agency's experience on a lot of brands that operate in South Asian markets."

 
 

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