SNGPL SHOWS RECORD FINANCIAL RESULTS

The share market price rose to the highest ever rate of Rs 124.40 per share during 2005-06

KHALID BUTT
Oct 09 - Oct 15, 2006

Sui Northern Gas Pipelines Limited (SNGPL) has shown record financial results for the year ended June 30, 2006, according to official sources. The turnover increased by 26.95% to Rs 105,851 million and the pre-tax profit raised by 20.11% to Rs 5,119 million.

Earning per share increased by 36.13% to Rs 7.46 per share.

The share market price rose to the highest ever rate of Rs 124.40 per share during the financial year 2005-06. As per official statement, the board has recommended a combination of 30% cash dividend at the rate of Rs 3 per share along with bonus shares at the rate of 10% i.e. one bonus share for every 10 shares held.

A dedicated team of staff supported the management's efforts to achieve these dynamic results. The market value of the shares carries rich premiums.

The year under review has been full of achievements for the company as sales and profit set new records.

PVTCS TRAINING PROGRAMS

Punjab Vocational Training Council (PVTC) has been engaged in an extensive and continuous training program for imparting modern skills to its teachers and administrative personnel in order to improve their teaching and administrative techniques. PVTC, set up by Punjab government under PVTC Act is running 136 VTIs (Vocational Training Institutes) across the province under the supervision of local boards of governors to train and equip Mustahqueen-e-Zakat in diversified demand-driven trades. At an average they are currently producing 25,000 trainees per year consisting of both males and females, who are all recipients of MORA Stipends during their training besides being awarded a one-time grant to purchase tools on completion of their training.

A spokesman of PVTC said that a comprehensive training program was launched on the directive of the council to constantly upgrade the skills of the teachers and administrators. Besides the teachers and lab assistants, the principals, vice-principals, administrative/finance and placement officers will also undergo periodic training courses specially chalked out for each category.

In the year 200607, over 1,200 personnel have so far gone through these specially designed courses by the PVTC Staff Training Department. Altogether there are over three dozen courses in nine trades namely Computer, Mechanic, Tailoring, Repair & Maintenance of Electrical Home Appliances, Clinical Assistant, Repairing, Beautician, Common Course and other for the teachers. There are specialized courses for other categories like administrators, placement officers and finance officials. The number of courses and the participants has multiplied by four times from last year in view of expansion of VTIs as well as the number of trainees and trades, the spokesman added.

The latest six-day training course was held in the last week of August, which was attended by 24 participants. It was on the subject of Computer and Database Management training. PVTC Chairman Sikandar Mustafa Khan gave away certificates to the participants.

HUNTING AND SPORTING ARMS COMPANY

Federal Minister for Industries, Production & Special Initiatives, Jahangir Khan Tareen, has tasked SMEDA and TUSDEC to prepare PC-1 for the establishment of Pakistan Hunting & Sporting Arms Development Company (PHSADC). According to a spokesman of Technology Up-gradation and Skill Development Company (TUSDEC), the PC-1 would be submitted to PIDC to incorporate the company as its fully owned subsidiary. It is pertinent to mention that TUSDEC, in collaboration with SMEDA, DEPO (Defence Export Promotion Organization) and members of Arms Manufacturing Association from Darra Adam Khel (DAK), had prepared a comprehensive proposal for up-grading the Hunting & Sporting Arms Industry of Pakistan with special focus on DAK which was later given approval by the federal government.

Subsequently, the PIDC Board of Directors, under the chairmanship of Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen, approved the funding for two main initiatives within this proposal i.e. the Sector Development Company and the Gunsmith Skill Development Centre, both to be based in Peshawar, said official sources. Pakistan Hunting & Sporting Arms Development Company (PHSADC) is being formed as a fully owned subsidiary of PIDC with a paid up capital of Rs. 125 million. The company is being set up with the vision to upgrade the Hunting & Sporting Arms Industry of Pakistan with special focus on Darra Adam Khel (DAK) to develop it as an organized industrial cluster and thus help Pakistan acquire significant share in the world hunting, sporting arms and accessories' trade market.

The main objectives of the company would be to create linkages with world market for constant flow of information and data, introduce appropriate technology, train and develop human resource, manage and control warehousing and sales matters, international promotion through exhibitions, seminars and visits, recommend issuance of export & manufacturing licenses and overall supervision & monitoring of industry.

A Board of Directors will govern the company with 2/3rd members from private sector and 1/3rd from public sector. The chairman of this board and the CEO of the company will be from private sector. The other initiatives to be undertaken under the umbrella of PHSADC include setting up a Gunsmith Skill Development Centre (GSDC) in Peshawar, a common Facility & Training Centre (CFTC) in DAK, an industrial estate in DAK and provision of subsidized long-term credit arrangement to the arms manufacturers of DAK through a private bank. According to the spokesman, this is another manifestation of present government's philosophy of "public-private partnership" which is expected to enhance the current export volume of sporting arms from Pakistan as well as attaining a significant market share in the world hunting & sporting arms trade.