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The global innovation revolution Page 03
profit.com.pk
Monday, 19 March, 2012
QuiCk edit
ClOsure Of COnsumer Banking in Pakistan
Citibank reviewing bids of faysal and silkbank after talks with HBl collapse KARACHI
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ISMAIL DILAWAR
HE major foreign banks operating in Pakistan are, reportedly, rolling back their consumer financing network in the country where, the banking analysts believe, a snail-paced judicial system was rendering the banks unable to recover their nonperforming loans. they, however, would continue with corporate and investment banking, muck like the local banks which, having adopted a risk-averse behavior towards the private borrowers, are pocketing huge sums through diverting their advances to the risk-free and heavily-weighted government securities. the Citibank, the sources said, is all set to shut down its consumer banking division in Pakistan. Other foreign banks, likely to follow the suit, are believed to be the HsBC and Barclays, suggest the unconfirmed reports. the Citibank, which has marked its 50year presence in Pakistan and is regarded as a pioneer of consumer banking in the country, has invited bids for selling out its credit cards portfolio. according to industry sources, the bank has received two to three offers from other banks that include the Faysal Bank and silkbank Bank. initially, the sources said, the bank was in talks with Habib Bank Limited (HBL) for the sell off of its consumer banking division. the Citibank management, however at a later stage, suspended negotiations with the HBL for reasons best known to it, said the sources. “the Citibank is still indecisive to whether or not proceed with the sale,” a banker, privy to the matter, confided to Pakistan today. While the managements of the foreign banks seemed to have lost confidence
in Pakistan where intermittent political turmoil and a long-lasting socalled “War on terror” has plagued the already ailing economy through adversely impacting the investment situation in an unprecedented manner. “Probably these decisions (of banks) are based on situation of our economy,” commented a corporate observer. the statement carries enough weight if analyzed in the backdrop of the banks’ ever increasing non-performing loans (nPLs). according to official data, the country’s banks counted their bad debts at over Rs 623.193 billion during second quarter of FY12 (sept-Dec). this amount depicts a slight decrease of 1.0 percent when compared to Rs 629.555 billion, the banks’ nPLs during first quarter. Of the total defaulted-upon amount, over Rs 7 billion belonged to the foreign banks. interestingly, however, whereas the other banks’ bad debts moved southward that of the foreign banks swelled to Rs 7.574 from the
previous quarter’s Rs 7.230 billion. this was despite 6.3 percent increase in their nominal cash recovery (against their nPLs) that stood at Rs 134 million. asked why the foreign banks were tending to close down their consumer financing businesses, the banking analysts pointed finger at a slow-paced judicial system in the country of 180 million. Given this situation, the commercial banks have been more risk-averse and extending little advances to personal borrowers. according to the central bank, the volume of banks’ personal loans contracted to Rs 8.55 billion up to June 2011 over the same month in 2010. “in Pakistan main problem rests with the judicial system where the cases are delayed for years,” said an experienced banker. Requesting anonymity, the banker said whereas recovery cases in the banking courts world over were heard and resolved within 60 days, in Pakistan a bank has to wait for at least 15 years to see its recovery case settled.
at the end of the day, the banker said, the petitioning bank has to see the value of its recovered money reduced to a great extent. the expert also cited the current economic conditions as a major attributable factor for the foreign banks’ fading-away interest in Pakistan saying “it is also a factor but not that big”. More worrisome for the banks, the analyst said, was the fact that there was a negative tendency growing among the borrowers in Pakistan not to clear their bank liabilities. “People don’t want to repay. Even the big companies do not,” he said. also, there are some who suggest that a tough competition from other foreign banks, like the standard Chartered, were making the Citibank wind up its division. the industry observers believe that whatever result comes out of the reported intentions of the Citibank, the standard Chartered Bank is perceived to appear as the biggest beneficiary.
and the market swings, again! F strong risk appetite and subsequent market rally of the last few weeks was a pleasant surprise, the more recent correction was anything but unexpected. as impressive as the rise right through the psychological 13,000 barrier has been, profit taking was in order. Yet this is an over simplistic view of the situation. a number of questions remain, hence the undertones of punter excitement in most week-end market reports. One, the sudden rush of volumes that buoyed the market has yet to be explained. Deficits are in red, growth is retarding, revenue is shrinking, and the overall economy is near dysfunctional. still the stock market decoupled from the real economy. Why? two, there is little agreement among brokers regarding relevance of political developments. is the market blinking because of existential worries in the PM house? if, in the worst case market scenario, heads roll in the highest tiers of the government, will the market really rally, as some have dared declare? Or are pundits restricting themselves to technicals and charts, not taking cue from fundamental indicators? three, are we about half way through yet another replay or replays? is this Mar ’04, Jun ’07, aug ’08 all over again, when black money filtered through the market, bidding it up, luring smaller, more innocent investors, only to leave another collapse, more fingers burnt? the new week will not provide credible answers to most of these questions. But it will tell how much the market has moved away from the real economy. Or whether the previous week’s sell off was more than prudent profit taking. Maybe the system has been misused yet again. if that is so, the welcome return of risk is not cause for joy. Rather, it should warn those with less (financial) muscle to stay away, and prompt the regulator to jump in. Either way, we will watch closely.
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Pakistan penetrating Business Opportunity Zone LAHORE
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STAFF REPORT
akistan is fast attaining the status of Business Opportunity Zone (BOZ) for potential foreign investors because it is not only the energy sector where investments would earn rich dividends but huge untapped mineral resources of trillion of dollars worth are a great attraction for foreign businessmen. this was stated by LCCi President irfan Qaiser sheikh while talking to Canadian asia division analyst Christopher Martin, First secretary Canadian High Commission John Gosal and Director asia division Elyas irfani on saturday. LCCi senior Vice President kashif Younis Meher and Vice President saeeda nazar also spoke on the occasion and gave their point of view on country’s economic strengths and weaknesses. the LCCi
President informed the visiting delegation that the agriculture sector also offers a huge potential particularly any investment made in livestock and dairy sectors is bound to make big gains. the LCCi President said that economic indicators were fast turning positive, law and order situation is also becoming satisfactory while investment climate is picking up with every passing day. the availability of cheaper skilled and unskilled labour, low priced land as compared to other regional countries and an infrastructure of international standards would definitely create a win-win scenario for global investors. irfan Qaiser sheikh urged the Canadian officials to send a business delegation to Pakistan so that it could have first hand knowledge about the available opportunities here as the Lahore Chamber of Commerce is planning a
sector-specific delegation to Canada in coming months. talking about MFn to india, the LCCi President said that Pakistan and india have much more to gain from improved bilateral trade. But the caveat is that the trade between the two countries is hassle-free, barrier-less and removed from historical baggage. in the presence of Core issues between the two countries and indian ntBs, the desired economic results would be a day dreaming. Pakistan government would have to ensure a level playing field. Quoting an example of electricity tariff, the LCCi President said how industry could remain competitive at high price of electricity when in india, for industry it is 10.5 cents, in Bangladesh 10.75 cents and sri Lanka it is 10.75 cent. in Pakistan tariff is already 15 cents meaning that 45 per cent higher as compared to the region. the LCCi President made it clear that Pakistan
government would have to address the concerns of the local manufacturers as a number of sectors including pharmaceutical, automobile, motorcycle, petrochemical, autoparts, sugar, textile, cooking oil and ghee industries have genuine reservations. Over the Gas shortage, irfan Qaiser sheikh said that the completion of iran-Pakistan Gas pipeline project and the establishment LnG terminals in karachi in another two to three years down the line would be a good breakthrough. He said at present, the official trade between the two countries is far below the true potential. Most of the Pakistan-india trade takes place via third countries, like Dubai. transportation and communication links are far from being efficient. Pakistan and india together form the most populous and contiguous consumer market of world. Over 1.4
billion people or around 86 percent of south asian population lives in these two countries. two economies represent almost 95 percent of the south asian GDP. the combined world trade of both countries stands around Us$682 billion while their current official bilateral trade is still below Us$2 billion. india exported over Us$251worth of goods and service in 2011. imports into india increased to Us$370 billion last year. the value of Pakistan’s international trade is less than one tenth of india’s global trade. Pakistan’s exports increased top over Us$25 billion first time in 2011. imports into Pakistan increased to over Us$35 billion last year. this is around two percent of international trade and 0.4 percent of their combined world trade. such a large market size can be a longterm source of economic growth for both the countries.
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Monday, 19 March, 2012
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Why we should all become farmers g
Punjab Boi Chairman believes industrialists should retrace a new career path, maybe we should all follow suit KUNWAR KHULDUNE SHAHID
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Ost of us, at some point in our lives, dream about cultivating our preferred crops in the vast fertile lands of southern Punjab, sitting proudly atop tractors that we have fantasised about, traversing inceptionesque fields – a field within a field, within a field – and carrying the mantle of national economy on our very own shoulders. Okay, this might’ve been an ever so slight exaggeration, but this is what all of us have to infuse into our daydreaming schedules if we are to survive in this land of ours. if the words of Miftah ismail, Punjab Board of investment and trade Vice Chairman, to the Faisalabad industrialists are anything to go by, all the industrial magnates in our neck of the woods should forego manufacturing and start harvesting fields to serve the nation. the rationale provided for this ‘groundbreaking’ career counseling, is that industries wouldn’t be getting power supply anytime soon anyway, hence, they might just as well get up and start cropping! now, while Mr Miftah ismail restricted his professional therapy to the realm of industry, if the vindication for the counsel is the energy predicament, then that’s something that affects every single one of us. and therefore, we should all take a leaf out of his intellectual treasury and follow suit. Depending on who stands where in letting their imagination run riot with regards to wheat or cotton cultivation, or indeed visualising themselves as caretakers of cattle and poultry one can earmark their preferred specialisation in the farming domain. Of the plethora of quotable quotes bestowed upon the Faisalabad industrial tycoons by the vice chairman, the one that stood out, especially with regards to the national scheme of things was the line, “You should focus on bringing in foreign investment into Pakistan,” and also “the
REUTERS
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Rank Partnoy makes a great point: the word “client” has been over-used by investment banks so much that by this point it “has become Orwellian doublespeak”. But the problem is much deeper than one of semantics. When all counterparties are considered clients, then that creates a corporate culture where all clients are considered little more than counterparties. and that, in turn, can be evil and poisonous. Partnoy says that “the firm’s salespeople know who is a client and who is a mere a counterparty”, and to a certain degree he’s right. a sovereign wealth fund dealing with the equity derivatives desk is a counterparty; a private individual whose money is being managed by Goldman sachs asset Management is a genuine client. if you’re paying Goldman fees, you’re quite unlikely to be called a “muppet”, and no one in the firm is going to try to “rip your eyes out”. But that doesn’t mean that Goldman will always be acting in your own best interest, rather than its own. stockbrokers, famously, receive substantial fees from their clients, but don’t have a legal fiduciary duty to those clients, and do have a demonstrated tendency to steer their clients into the
special assistant to Chief minister Punjab food and environment, mansha ullah Butt iterates the importance of exhibitions LAHORE STAFF REPORT
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government of Punjab trying its best to overcome the energy shortages but it will take some time.” the hint provided for the duration of this “some time” that the government is being touted to take is that it would take longer than potential career shifts of a generation of industrialists. so basically it has come to this, that instead of giving us a timeframe that showcases a line of action with regards to improving the energy quagmire, the government officials are now asking the nation to indulge in activities wherein the energy shortage doesn’t remain that big an issue while the bigger picture of pros-
perity continues to be served – this is of course in the ‘greater interest of the nation.’ the government seems all set to take us all the way back to stone age – and maybe beyond – as the hierarchy is running out of excuses to satisfy the disgruntled industrialists. after the whole MFn debate, and with the impending influx of indian goods into the market, i’m sure the aforementioned verbal jottings would create an atmosphere of buoyancy for our industrialists who’d already be having sleepless nights over the cabinet’s decision to remove the indian negative list even before any guarantees on the
non-tariff Barriers (ntBs) from our neighbours. the industrialists are hankering after any inkling of optimism that can trace on the trade front, and if this is what they’re going to be served with, who could blame them from considering the MFn decision a disaster waiting to happen. Maybe, just maybe, the government should think about solving the biggest issue that hampers our economic growth rather than give the industrialists, comical career counseling. The writer is Sub-Editor, Pakistan Today. He can be reached at khulduneshahid@gmail.com
Why banks will continue to rip off clients FELIX SALMON
‘Business exhibitions are pivotal for economic activities of any country’
investments which end up paying them the highest commissions. and even companies paying for M&a advice are sometimes . in other words, no one can complacently assume that they’re a favored client of Goldman sachs and that therefore Goldman will be ripping off others on their behalf, rather than ripping off its own client. not even people writing large checks to Goldman every quarter. i’ve been talking to bankers in the days since came out, and there’s a pretty much unanimous feeling that bankers’ loyalty to clients, at least at Goldman and other big investment banks, has been declining across all aspects of the business, for many years. Greg smith was in equity derivatives — an area where it’s incredibly easy for salespeople to hide fees if they’re inclined to do so. in fact, it’s so much easier for a bank to build its fee into the pricing of complex bespoke products than it is to charge that fee directly, all banks do exactly that. it’s like buying “commission-free” currency when you go on holiday: you know full well that the bureau de change is still making money; it’s just making that money by giving you a bad price for your dollars, rather than by charging you a high commission. But in a business devoted to making everincreasing sums of money, it’s very easy
for those hidden fees to get bigger and bigger over time. i talked to one former equity derivatives executive a couple of days ago, who said with surprising vehemence that in his day, the big clients were God: you built in fees, yes, but you never ripped them off or tried to steer them into something which was not in their best interest. now of course what he was saying was self-serving, but i think it had an element of truth to it, too. there’s been a lot of talk in the past couple of days about how smith was not much of a star at Goldman: he was the sole person trading Us equity derivatives in London, which is always going to be a marginal job at best, and he hadn’t risen very far up the greasy pole given how long he worked at the firm. Certainly it’s a bit of a stretch to call him an “executive” at Goldman, as that term is generally understood: he didn’t even have any employees. But at the same time, his relatively lowly position in the company is entirely consistent with a tale of a smart but ethical professional who didn’t make as much money for the firm as his peers did, just because he didn’t rip off his clients to the degree that they did. all of which is to say that it’s worth taking seriously about the latest spate of deregulation in the securities markets. i think that there’s a lot to like in the JOBs act, especially the idea that we should stop forcing companies to go public just
because they have 500 shareholders, including employees. Companies should be encouraged to give out equity to their employees, without worrying that if they do so, they’re on some kind of iPO train which can’t be derailed. at the same time, however, there’s a lot of deregulation in the JOBs act which seems aimed primarily at giving banks a greater opportunity to make money, largely at the expense of investors in the primary markets. has some strong and important points: the primary markets are rife with information asymmetries, and someone needs to protect the interests of investors, rather than allowing banks to rip them off with legislated impunity. all big banks are public companies. Public companies are always under a lot of pressure, from their own shareholders, to grow. But as a country, we have a public interest in seeing those banks shrink. the tension is clear. and if regulators try to get banks to shrink, the banks in turn are going to make even greater efforts to extract the highest profits possible from the businesses they retain. Which is another way of saying that they’re going to rip off their clients even more. so let’s be assiduous when it comes to regulation, because neither banks nor their boards are going to lift a finger to protect client interests. not when they’re trying to maintain and maximize their own profitability.
PECiaL assistant to Chief Minister Punjab Food and Environment, Mansha Ullah Butt said that the business exhibitions plays vital role in the economic activities of any country and create soft image. He was addressing as the chief guest after inaugurating 8th international Plastic Printing and Packaging industry & international Food Equipment & technology (3P) Exhibition here at Expo Centre Lahore. the 3P expo was jointly organized by the Fakt Exhibition Private Limited and Pakistan Plastic Manufacturers association (PPMa) will be continued till Monday march 19 2012. Mansha Ullah Butt congratulated the exhibitors and event organizers who bring the intentional exhibitors belong from india, China, italy, Germany, taiwan, Japan and other European countries. He said that Punjab government was very much supportive for the businesses and taken various steps for their facilitations. He welcomed the international exhibitors on their visit to Pakistan, especially Punjab to display their products and transfer of technology. More than 200 companies from around 50 different countries of the world were displayed their machinery and packaging material at the Lahore Expo Centre for three days show. talking to the reporters, Chairman, PPMa, shakeel ahmed said that Pakistan has great potential to export finished plastic goods to the international markets condition to supportive government policies. He said Pakistani plastic sector was facing numerous problems from smuggled plastic raw material from iran which disturbed the people doing legal businesses in the Pakistan. He said PPMa raised its voice at different forums but not avail. the Chairman PPMa, said that till 1990 Pakistani Plastic industry was at par with its indian counterparts, however, after favorable government policies by the indian government to their industry pushed them far ahead to Pakistan. On the other hand Pakistani industry has been caught in various problems which are never resolved by any concerned authority. He demanded the government to establish Hydro Cracking Plant which will ensure the cheapest raw material for Pakistani plastic industry. He said for the last two decades the government was working on Hydro Cracking Plant but no breakthrough was occurred. CEO, Fakt Exhibitions, salman khan tanoli said that 3P expo was 8th annual exhibition in row without government support. He demanded the government to give the Exhibitions sector status of industry and patronize them. He said exhibitions crate soft image of Pakistan globally as number of intentional exhibitors were participating in this expo will bring the more foreign visitors to Pakistan when they will return back to their native countries. He said that Fakt was founded with the principal objective of building bridges among Pakistan and international Countries by promoting commerce, trade and business through its corporate Exhibitions and Conferences.
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The global
innOvatiOn revolution
BERKELEY LAuRA TySON
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s countries around the world struggle to lay the foundations for stronger sustainable growth in the future, they would do well to focus on policies that encourage innovation. Empirical studies across time and countries confirm that innovation is the primary source of technological change and productivity growth. and investments in research and development, as well as in the scientific and engineering workforce on which they depend, are critical drivers of innovation and national competitiveness. a new by the national science Board, the governing body of the national science Foundation in the United states, examines trends in such investments for both individual countries and regions. these trends indicate that the global landscape for innovation changed significantly during the last decade. that landscape is likely to change further as several asian economies, particularly China and south korea, increase their investments in R&D and scientific and engineering education to secure their place as significant hubs of innovation. at the same time, crushing debt burdens may compel the Us, Europe, and Japan to reduce their investments in these areas. the Us remains the global leader in R&D investment, spending an estimated $400 billion in 2009 – a total boosted by President Barack Obama’s stimulus
package, and higher than China, Japan, and Germany combined. But, in terms of R&D spending as a share of GDP, the Us ranked only eighth in 2009 (at 2.9% of GDP). the Us share remained above the OECD average, but this was mainly the result of national differences in the amount of R&D defense spending. indeed, defense accounted for 52% of Us R&D in 2009, and for more than 50% during the last 25 years. the defense share of R&D in the European Union and Japan has been and remains markedly lower – less than 10% in the EU and less than 5% in Japan in 2009 (no comparable data are available for China and south korea). Over the next decade, sizeable cuts in defense spending as part of overall deficit reduction could mean a significant reduction in R&D investment in the Us. Between 1999 and 2009, global R&D spending grew at an average annual rate of 7%, accelerating to 8% during the last five years, despite the global recession. During the entire period, R&D spending grew significantly faster than global output, reflecting both increasing government support and a rising share of technology-intensive industries in global production and trade. But these aggregate figures obscure differences among countries and regions. Over the decade, the Us share of global R&D fell from 38% to 31%, the EU share fell from 27% to 23%, and asia’s share rose from 24% to 32%. Within asia, R&D spending in China grew at an astounding 20% annual pace – twice the country’s GDP growth rate – and by 2009 China had surpassed Japan to become the world’s second-largest
investor in R&D. spending on R&D also grew rapidly – about 10% annually – in south korea. By contrast, R&D spending grew by 4% in Japan, 5% in the Us, and roughly 6% in Europe. throughout the world, the business sector remains both the predominant performer and the predominant funder of R&D investment. in 2009, business accounted for 75% of R&D funding in Japan, 73% in south korea, 72% in China, 67% in Germany, and 60% in the Us, whose companies are the largest R&D investors in terms of absolute purchasing power, spending more than twice as much as Japanese businesses. But over the last decade, while it has risen rapidly in many other countries, including China, singapore, south korea, and israel. Global multinational companies are the largest business-sector R&D investors in the Us and other countries. For example, multinational companies, whether headquartered in the Us or elsewhere, accounted for about 84% of private (non-bank) R&D investment in the Us in 2009, about the same as a decade earlier. and , often in innovation clusters around research universities. But this share has declined during the last decade, as Us multinationals have shifted some of their R&D from the Us and Europe to asia in response to rapidly growing markets, ample scientific and engineering talent, and generous subsidies.
their
with
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many countries already offering sizeable tax credits and extended tax holidays. the asian economies have been particularly aggressive in the use of such incentives. and, recognizing that the availability of a workforce with the necessary skills is a key determinant of where businesses locate their R&D activities, many countries are increasing their investments in tertiary education and training in science, engineering, and technology. Engineering accounts for only 4% of all bachelor’s degrees in the Us, compared to 19% in asia – which now accounts for half of all engineering degrees being awarded – and 33% in China. Many countries are also changing
immigration laws to make it easier to attract highly skilled workers, especially scientists and engineers, who are increasingly mobile. Meanwhile, immigration policies in the Us and Europe are making it more difficult to attract and retain such workers, compelling companies to shift R&D abroad to find the talent that they need. as a result of these changes, the global landscape for innovation has been transformed over the last decade. Ours is now a world in which many emergingmarket countries have made advancement in science and technology a top priority, and in which multinational companies’ R&D investments have become much more mobile. as the Us and other developed countries embark on austerity plans to contain their debt, they must heed these changes in the innovation landscape and boost their investments in R&D – and in science and engineering education – even as they make painful cuts elsewhere. A version of this article was first published in Project Syndicate
CORPORATE CORNER ksBl’s ‘Building successful Corporate Brands in Pakistan’ by mr Javed Jabbar KARACHI: Mr. Javed Jabbar will conduct a oneday programme for the karachi school for Business & Leadership (ksBL), on “Building successful Corporate Brands in Pakistan”, on the 20th of March, in karachi. this course has been designed for senior Executives of public and private organizations who are responsible for institutional communication, marketing and advertising as well as those working with advertising agencies and Branding Consultancies. Mr. Javed Jabbar is well known in the corporate world as a thought leader in the area of corporate brand building and growth. He is the founder of and led for 20 years, MnJ Communications (Pvt.) Ltd., one of Pakistan’s and asia’s trend-setting communications and advertising firms. Mr. Jabbar has also served as a Federal Minister in three Cabinets and as a senator. PRESS RELEASE
six experiments filmed in four cities, three countries KARACHI: What would you do for an Ultrabook™ computer? that’s the question intel asks in Ultrabook™ temptations, a series of six light-hearted experiments filmed in four cities across six countries and posted to Youtube today. sleek and stylish, Ultrabooks™ are a new category of computers inspired by intel. they are the next generation in mobile computing—-thinner, lighter and more responsive than traditional laptops, but just as powerful and secure. “People are drawn to Ultrabooks in a way we have never seen before with traditional laptops,” said Claudine Pache, digital marketing manager for intel australia and new Zealand. “We devised the ‘Ultrabook temptations’ experiments to see how far people would go to get their hands on an Ultrabook.” the
six experiments, filmed in australia, indonesia and thailand, were designed to tempt people and introduce Ultrabooks™ to consumers through Youtube. in ‘Daring temptation’, an Ultrabook is installed in a display case near a busy area with the simple instruction: ‘smash Glass to Win Ultrabook’ and a small hammer. Would a commuters prove bold enough to smash the glass in public and claim the prize? according to Jayant Murty, intel’s asia Pacific director of brand strategy and integrated marketing: “We wanted to launch Ultrabook™ to the world in a fun and unexpected way. Ultrabook™ temptations shows how these great new devices can inspire and delight us during everyday moments. PRESS RELEASE
iCCi organises two-day ‘Power of entrepreneurship’ workshop KARACHI: two day workshop on the Power of Entrepreneurship was held on 6 th and 7 th March 2012 at karachi. it was organized by islamic Chamber of Commerce & industry in collaboration with OHsL. this conference was addressed by Mr. nisar a Memon, Former Union Minister, Dr. Mirza abrar Baib, sEVP & Group Chief training & Development Group, nBP, HO and Ms. attiya nawazish ali, assistant secretary General, islamic Chamber of Commerce & industry and syed iqbal ashraf, Managing Director and CEO , PaiR investment Company, limited. Mr. nisar a Memon in his address talked about different forms of entrepreneurship including political & social. He also discussed the importance of Corporate social Responsibilities for encouraging entrepreneurship. Mr. Baig while speaking as Guest of honor at the function stated business basics are still fundamental to creating value in an enterprise. to succeed as entrepreneur conservative economic analysis and disciplined, detailed management practices are must for creating long term value. there was a great appreciation for Mr. Ozair Hanafi who had conducted the program very professionally as a lead trainer. PRESS RELEASE
PtCl faisalabad wins ‘region of the month’ award FAISALABAD: Pakistan telecommunication Company Ltd (PtCL) has awarded its Faisalabad region team with the ‘Region of the Month’ shield in recognition of its outstanding efforts for provision of best customer care and outreach services during January 2012. Executive Vice President Customer Care, kamran Malik (left) and Executive Vice President Contact Centers, Junaid azeem (center) presented the award to Regional General Manager Faisalabad, Muhammad abrar Chudary (right) at a ceremony held in One stop shop CtX, Faisalabad. Other PtCL officials were also present on the occasion. PRESS RELEASE
Bio-diesel production from seeds ISLAMABAD: kohat University of science & technology with the collaboration of Directorate of
science and technology, Govt. of khyber Pakhtunkhwa is going to initiate a project that would mean for the production of Bio-diesel from the seeds of jatropha Plant. in this regard, a meeting was held under the Chairmanship of Vice Chancellor, kUst, Prof. Dr. nasir Jamal khattak on March 15, 2012 in his office in consultation with the representatives of the Directorate of science and technology, Govt. of khyber Pakhtunkhwa, Peshawar. the meeting was attended by Prof. Dr. Fida Younas khattak, Dean Faculty of Physical sciences, Prof. Dr shafiq ur Rehman, Dean Faculty of Biological sciences, Dr. Javed abbas Bangash, Director, Directorate of science and technology, Peshawar, Mr. abid suhail, Deputy Director, Directorate of science and technology, Peshawar, Mr. abdullah Registrar, kUst kohat, Mr. altaf Hussain, Director Works, kUst kohat, Dr. Waheed Murad (Focal Person), assistant Prof. Department of Plant science, kUst kohat, Dr. amir Muhammad khan, assistant Prof. Department of Plant sciences, kUst kohat. PRESS RELEASE