PROF KHAWAJA SAEED BESTOWED
DISTINGUISHED PROFESSOR TITLE
Prof. Dr. Khawaja Amjad Saeed has been
bestowed the lifetime tile of "Distinguished National Professor -
Finance" by the Higher Education Commission, Ministry of Education,
Government of Pakistan, Islamabad.
Prof. Saeed is a renowned scholar
having five decades experience of corporate world, teaching, administration,
research, consulting and service to Pakistan and abroad. He also has the honor
of being associated with University of Hawaii - USA, UNESCAP, ILO, UNITC, TWARO
- Japan, APO, The World Bank, Asian Development Bank, Durham University, Colombo
Plan, etc. He is the first Chartered Accountant who branched into fulltime
teaching in Pakistan. He optimally combines academic and professional
qualification which is a rare blend in Pakistan.
He has authored over 30 books in the
areas of Management, Accounting, Auditing, Mercantile Law, Industrial &
Corporate Laws, Corporate Financial Reporting, Marketing, Production Operations
Management, Income Tax, Economy of Pakistan, Financial Institutions in Pakistan,
Pakistan - Economic & Social Statistics, Information Technology for Business
Executives and related fields. More than 500 articles of Dr. Saeed have been got
published in journals of international repute at home and abroad.
He has also served as President of the
Institute of Cost and Management Accountants of Pakistan (ICMAP), South Asian
Federation of Accountants (SAFA) and Association of Management Development
Institutes of South Asia (AMDISA). Keeping in view his excellent contribution to
Accounting on world-wide basis, the International Federation of Accountants
(USA) has also honored him twice with appreciation scroll - a rare event of the
world. His Adjunct / Emeritus Professor Association include Swinburne University
of Technology, Australia, Indian Institute of Management, New Delhi and Birla
Institute of Management & Technology, Noida - India.
He also has the honor of working in
over 100 countries covering all the five continents of the world. Currently he
is developing his autobiography entitled "Joy of Work". This will be
shortly available in the market and certainly inspire the younger generation.
DHL REAFFIRMS COMMITMENT TO PAKISTAN
DHL, the world's leading express and
logistics company, has reaffirmed its commitment to Pakistan with plans to
upgrade its business activity and investments.
The company has already announced it
will invest up to US $8 million in Pakistan in the next three years, including
the construction of a new state-of-the-art airport Airside Facility in Karachi,
and upgrading its service centers.
Speaking to a group of business
journalists, Scott Price, Chief Executive Officer of DHL Express - Asia Pacific,
said, "DHL sees bright prospects in the region and particularly in Pakistan
becoming a major hub for industrial growth. There has been significant business
growth in the region and Pakistan's investment-friendly policies have started to
attract international attention."
"Pakistan is a key market for DHL
and a significant contributor in the growth of the company's business in Asia
Pacific. Our business in Pakistan has consistently performed well for the past
several years and it is our intention to continue building on this growth well
into the future," he noted.
"In recent months, there have been
clear indications of strong macro-economic fundamentals in Pakistan. At the same
time, the region is seeing very buoyant levels of intra-Asian and international
trade. All of these factors, combined with political certainty, provide very
favorable conditions in which we can maintain the double-digit growth of our
Pakistan operations," said Mr. Price.
Also speaking at the press conference,
Mr. Salim Awan, Managing Director of DHL Pakistan, stated, "DHL's inbound
and outbound shipment volumes for Pakistan have increased markedly and this has
made it necessary for us to increase the frequency of our dedicated flights into
and out of Karachi and Lahore, DHL's Gateways in Pakistan, and to the rest of
He added: "We are an integral part
of the supply chain process and this is demonstrated by the strong headway we
have made in the area of logistics in Pakistan as well as throughout the region.
We have secured significant logistics contracts in Pakistan from leading
multinational and local companies."
Mr. Price also expressed deep sorrow at
the considerable loss of lives and infrastructural damage left by the massive
earthquake that struck Pakistan in October this year. He stated that in response
to the earthquake, DHL, along with its employees in Pakistan, immediately
participated in relief efforts. DHL employees in Pakistan and around the world
leveraged their expertise in the management of complex logistics and
transportation processes to help deliver aid and relief supplies to the
"Consistent with our sense of
responsibility to the communities in which we operate, DHL lost no time in
offering its expertise to the Pakistan government, Pakistan Air Force, and the
Pakistan Army through the Airport Emergency Team (AET) deployed at the Chaklala
Air Base in Islamabad, of which we are an active member," said Mr. Price.
"The team handled aid supplies from over 230 international relief flights,
managing over 9,000 tonnes of relief aid in the process," he added.
SCOTT PRICE, CEO DHL EXPRESS ASIA
SCOTT PRICE IS THE CHIEF EXECUTIVE
OFFICER FOR DHL EXPRESS ASIA PACIFIC AND CHAIRS THE DHL ASIA PACIFIC MANAGEMENT
Prior to his appointment in December
2004, Mr Price was President of DHL Express Japan and a member of the DHL Asia
Pacific Management Board. At DHL Express Japan, he managed the full enterprise
and infrastructure incorporating more than 50 facilities across Japan, 1,200
employees and 44, 000 customers. Since joining the company in 2002, Mr Price
steered the business in a highly competitive environment and within two short
years, substantially increased DHL's market share from No.3 to the current No. 1
Mr Price joined DHL from The Coca-Cola
Company where he had worked for more than a decade, and where he had amassed a
wealth of knowledge on the Asian business environment and culture, working in
countries such as Japan, Malaysia, Hong Kong and Macau. During his tenure with
Coca Cola, Mr Price moved up the ranks in various senior management positions
and demonstrated strong leadership qualities and expertise in consumer and trade
marketing, quality assurance, finance and human resource. In his last position
with Coca Cola, he took on the role of Director and Country Manager for Hong
An American national, Mr Price is
married with two children. He obtained a Bachelor of Arts in Business
Administration from the University of North Carolina. He has since completed his
MBA and also has a Master of Arts in Asian studies, both from the University of
Virginia. Mr Price is proficient in Japanese.
MS. ZARINE AZIZ LAUDS GOVT'S ROLE
Ms. Zarine Aziz, President, First Women
Bank Ltd, representing Pakistan as keynote speaker at the international
conference organised by International Finance Corp. and South Asia Enterprise
Development Facility (SEDF), titled "Bridging the Gap between Micro-Finance
and SME Finance, in Dhaka, Bangladesh", said: "Strategic Planning is
vitally important to any company, no matter the size, the industry or the
gender", however, making the leap from theory, to the operational reality
of implementing, and managing it in real time, is a challenge many fail to
implement, fewer still realise the benefits.
The importance of holistic policy
formation and an enabling environment cannot be emphasised enough because their
lack is the single biggest challenge confronting women entrepreneurs,
microbusinesses as well SMEs, she highlighted.
She lauded the role of Pakistan
government in creating enabling environment for women entrepreneurs at micro and
SME levels; and exempting SMEs from following six international accounting and
seven financial standards. She said, FWBL's intervention succeeded because the
government recognised the role of micro businesses, SMEs and specifically women
in the economic growth.
Highlighting the model of First Women
Bank Ltd, she said the issue of women entrepreneurship is such that it subsumes
the distinctions between microfinance and SME lending. "We have always
looked on microfnance borrowers as potential SME and corporate clients. Women
need finance to translate ambitions into reality. And by supporting them, we
enable them to transcend their status as passive beneficiaries to dynamic agents
She reiterated FWBL is the world's only
bank for women, which is a commercial bank and a DFI that ventured into support
services required to navigate the obstacles in the development of women owned
The Conference was attended by renowned
international experts, bankers and speakers including Laurence Carter, Director,
IFC Washington, Small and Medium Enterprise, Jacques Attali, President PlaNet
Finance, President of Supervisory Board MicroCred, Founder and First President
of European Bank for Reconstruction and Development (EBRD), Prof. M. Yunus,
Founder and Managing Director, Grameen Bank Bangladesh, Robert A. Annibale,
Global Director, Citigroup Microfinance Group, Citigroup, London, Ary Naim,
CGFIB Global Financial Markets, IFC Washington, Dr. Salehuddin Ahmed, Governor
Bangladesh Bank, Gilles Galludec, Programme Manager, Financial Markets, SEDF.
Other participants that shared their
views on this occasion included Ehsanul Haque, Managing Director, BRAC Bank,
Maria Flordelis F. Aguenza, President and COO Planters Development Bank, The
Philippines, Stephen F. Rasmussen, Lead Specialist, World Bank Pakistan.
RASHEED JUNG NEW MD PARCO
Mr. Mohammad Rasheed Jung, presently
PARCO's Deputy Managing Director (Operations), has taken over as Managing
Director, PARCO. He has succeeded Dr. Shahid K Hak, who remained MD / CEO of
Pak-Arab Refinery Limited (PARCO) for 18 years. Dr. Hak retired on December 7,
2005 upon attaining superannuation age. Mr. Jung has over 30 years experience of
oil industry in Pakistan and abroad.
Over the recent years PARCO has made
gigantic strides. Having completed projects worth US$ 1.5 billion, PARCO has
emerged as the most successful joint venture between two brotherly countries of
Pakistan and Abu Dhabi. Its operating base which in 1987, was 864-km Karachi-Mahmood
Kot (KMK) pipeline only has now been expanded to over 2000 kms with the addition
of 360-km Mahmood Kot-Faisalabad-Machhike (MFM) pipeline and 817-km Port
Qasim-Mahmood Kot White Oil Pipeline (WOP).
PARCO established the country's largest
100,000 BPD state-of-the-art Mid-Country Refinery at Mahmood Kot near Multan.
MCR represents more than 40% of the country's refining capacity and substitutes
imports to the tune of US$100 million per year. PARCO also entered into joint
ventures and technical alliances with several multinationals including Total of
France, OMV of Austria and SHV of Holland to market petroleum products,
lubricants and LPG, respectively. TOTAL-PARCO has already established more than
100 retail outlets throughout the country and has taken over 7% of the market in
the initial three years. The OMV lubricants and LPG are marketed under the brand
name of "Pearl" which is by SHV rapidly gaining its market share which
happens to be around 15% earnestly. PARCO also pioneered the introduction of
Unleaded 90 Octane Motor Gasoline to contribute towards a healthier environment.
PARCO's achievements in financial terms
can be judged by the fact that its asset base increased from Rs.2 billion to
Rs.100 billion. The company recorded highest ever profit of Rs.13 billion and
declared highest ever dividend of Rs.6 billion in the year 2004-05, besides
maintaining its AAA rating for the eighth consecutive year.
With its vision of "Energy through
Synergy" and its experience of completing mega projects on time and within
budget, PARCO augurs more for attracting further investments in the refining,
transportation, storage infrastructure and production of value-added environment
friendly fuels by continuing to involve itself in mega-investment projects to
the tune of US$ 2.0 billion.
PARCO, over the years, has not only
created job opportunities but has evolved a dynamic and supportive environment
that enables professional excellence. Its management team is committed to tread
on the path of progress and prosperity. The change at the top will not detour
the company from its pre-defined mission.
PSHRM HOLDS MOOT ON DEVELOPING HUMAN
Pakistan Society for Human Resource
Management (PSHRM) oranised a two-day conference highlighting the significance
of introducing a professional approach towards developing Human Resources for
maintaining economic targets and assuring sustainability.
Some 350 delegates, including CEO's,
seasoned full-time HR professionals and executive directors attended the
conference at Karachi Sheraton. The participants from across Pakistan as well as
from India, Kenya, Bangladesh and UAE shared their experiences, knowledge and
ideas through workshops and panel discussions.
The opening session began with a lively
and highly skilled presentation by Human Resource specialist, Dr Wayne Brockbank,
Professor of Business, Stephen M. Ross, School of Business, University of
The main sponsors of the conference
were Mobilink, supported by PBA. The co-sponsors were Habib Bank, Dubai Islamic
Bank, Standard Chartered Bank and PSO.
ICMAP'S PROFESSIONAL CONTRIBUTION
It has been the Institute of Cost and
Management Accountants of Pakistan's (ICMAP's) constant effort to strengthen
professional education and continuous training to ICMAP students. While
restructuring the syllabus-2005, the National Council has laid emphasis on the
requirements of all Management Accountancy profession's stakeholders.
Syllabus-2005 understandably will ensure wider international recognition,
acceptance and application of ICMAP's professional education and specialized
training process. ICMAP syllabus-2005 will equip the students with upgraded
skills and competencies demanded by users of their services. The syllabus-2005
specifically takes care of benchmarks and prescriptions embodied in the
International Federation of Accountant's (IFAC's) International Education
Standards and International Financial Reporting Standards (IRFS), this was
highlighted by the President of the Institute of Cost and Management Accountants
of Pakistan (ICMAP), Muhammad Rafi, at a press briefing.
Work experience has being made an
integral part of the professional education process. A computer based distant
learning programme has received assent of the council.
Muhammad Rafi further believed that
there was a need to establish a platform for a formal and close interaction of
the Institute (ICMAP) with the Securities and Exchange Commission of Pakistan (SECP)
and State Bank of Pakistan (SBP). "Accordingly, we have approached SECP
& SBP to form a Co-ordination Committee of SECP & SBP with ICMAP to
review the issues relating to the accounting profession, especially with
reference to the Companies Ordinance, Financial Reporting System, Code of
Corporate Governance and other relevant issues." The Coordination Committee
is expected to meet on quarterly basis with the SBP to decide relevant
professional issues relating to the financial sector. The Institute is in the
process of preparing agenda for holding the meeting with SBP. The coordination
meeting with SECP is also expected to take place in December 2005.
Muhammad Rafi, in his concluding
remarks, anticipated that Continuing Professional Development (CPD) is a program
of lifelong learning and continuing development of professional competence.
ICMAP Council emphasizes the profession's commitment to serving the nationwide
public interest and presents CPD as a key means of meeting this commitment.
The standard prescribes mandatory CPD
for all members of the Management Accountancy profession, including those
working in public practice, in commercial, governmental, academic and
not-for-profit entities as well as those who may no longer work in traditional
accounting roles. It also calls on ICMAP centers/ branches to facilitate access
to CPD opportunities to members and resources to assist professional accountants
in meeting their responsibility for lifelong learning.
EBM HONOURED AT S. ASIAN MANAGEMENT
Pakistan's leading biscuits maker,
English Biscuit Manufacturers (Pvt.) Ltd, has been awarded the Exemplary
Contribution Awards in the field of Corporate Social Responsibility at the South
Asian Management Forum held at a leading hotel in Karachi. Ms. Sadhana Shrestha,
Country Head, ASHOKA, from Nepal presented the award to the Managing Director of
English Biscuits Manufacturers (Pvt) Ltd, Mr. Khawar M. Butt.
Prominent speakers who presented their
papers at the forum were Senator Nisar A. Memon, Mr. Andrew Steele, British
Council, Nepal, Ms. Sadhana Shrestha, Country Head, ASHOKA, Nepal, Dr. Anjum
Siddiqui, Faculty of Business & IT, University of Ontario, Canada and other
well-known speakers from Pakistan and South Asia.
Speaking on the occasion, Mr. Khawar M.
Butt, Managing Director English Biscuits Manufacturers (Pvt.) Ltd said that EBM
is one of those corporate organizations in Pakistan which are very reasonably
contributing their share of social responsibility by participating in almost all
the activities making image of a better Pakistan. "EBM is fully conscious
of their role regarding environmental treatments which our corporate sector must
play to make our country not only economically viable but also environmentally a
healthy nation," he added.
The forum was organized by Nutshell
Forum and was attended by Chief Executive Officers, Senior Managers, Business
Strategists, Human Resource Professionals, Financial Analysts, Investors,
Bankers, IT Professionals and Chartered Accountants from various national and
multinational companies operating in Pakistan.
English Biscuit Manufacturers (Pvt.)
Ltd., or EBM, is the country's leading manufacturers of biscuits and cookies,
with an annual production of around 26,000 metric tons. The Company is the only
one in the industry to have both the ISO 9001 and HACCP certifications. It
contributes over Rs 450 million annually to the national exchequer in taxes and
duties and provides direct employment to over 1300 people at its production
facilities in Karachi and Hattar. A solid company with quality products, EBM is
well known for its Peak Freans master brand and its Pied Piper - the legend
logo. A socially conscious company, EBM consistently supports various
humanitarian causes in the areas of education and healthcare, besides helping
the less privileged.
DRESSER PIGNONE ARRIVES IN PAKISTAN
Dresser, Inc. has announced that it
completed the purchase of the Distribution Business of Nuovo Pignone, S.P.A., a
subsidiary of General Electric Company. The business purchased consists of
retail fuelling systems including manufacturing and service of retail and
commercial dispenser systems, fuel metering systems, reciprocating compressor
for CNG applications and relevant equipment.
The business purchased will become part
of Dresser Wayne, a business unit of Dresser Inc., that is a technology leader
in the manufacturing, supply and service of retail fuel dispensers, dispenser
control systems, credit/debit card processing terminals, and point-of -sale
systems. Wayne's innovative products are used in over 75 countries.
Headquartered in Dallas, Texas,
Dresser, Inc. is a worldwide leader in the design, manufacture and marketing of
highly engineered equipment and services sold primarily to customers in the flow
control, measurement systems, and compression and power system segments of the
energy industry. Dresser has a widely distributed global presence, with over
8,700 employees and a sales presence in over 100 countries worldwide.
Following the purchase of Nuovo Pignone
by Dresser, Inc. from General Electric, it is represented in Pakistan by
Marketing International Services Limited (MISL), Dresser's sole agent in the
country for over 45 years. A subsidiary of the reputed industrial concern
Mohammed Ebrahim & Company (MECO) of Pie radio and MECO- Sharp television
fame, MISL has been at the forefront of supplying equipment and solutions to
Pakistan's oil and gas sector.
MISL was initially established as the
tender department of MECO in 1946. In 1954, when gas was discovered in Pakistan,
the Sui Gas Company came into being and in the late fifties, MISL signed and
agreement with Dresser to represent it in Pakistan which it continues to do till
this day. In 1982, MISL expanded to assume an independent identity of its own
and was incorporated as a private limited company. In June this year, Wayne
Pignone was added to the list of Dresser brands that MISL was already
representing other than its CRANE and Ebara divisions.