(July 2011 to June 2012) – Part 2 of 2 Pakistan: Karachi Electric Supply Co

Total Page:16

File Type:pdf, Size:1020Kb

(July 2011 to June 2012) – Part 2 of 2 Pakistan: Karachi Electric Supply Co Annual Environment & Social Monitoring Report (July 2011 to June 2012) – Part 2 of 2 Environmental and Social Performance Report November 2012 Pakistan: Karachi Electric Supply Company Post Privatization Rehabilitation, Upgrade and Expansion Prepared by Karachi Electric Supply Company Karachi, Pakistan The Environmental and Social Performance Report is a document of the borrower. The views expressed herein do not necessarily represent those of ADB’s Board of Directors, Management, or staff, and may be preliminary in nature. Your attention is directed to the “Terms of Use” section of this website. ASIAN DEVELOPMENT BANK QUERIES KESC 2013 KESC RESPONSE AGAINST ANNUAL MONITORING REPORT 2011-12 AUGUST - 2013 KESC authorized representative to be contacted on the AMR: Name : Chander Perkash Title : General Manager (Corporate Compliance) Tel : +9221-32647048 Cell : +92300- 2910106 Email : [email protected] ADDRESS: 12th Floor, Technology Park Shahra-e-Faisal, Karachi - Pakistan. Phone: +9221-32647048 Page Section Description/Title Comments / Remarks KESC response No. No. of Section 20 3.2.2 On public Please provide (i) schedule As a part of SEIA, area stakeholder consultation of consultations with are consulted and a general public various stakeholders, (ii) hearing which is open for all is summary of issues raised by organized before each project to respective stakeholder ensure maximum input from public. groups, and (iii) how these issues were resolved. Does the "open door" policy Whistle Blower Policy is in place for for community consultation both internal and External refer to KESC's grievance stakeholders. mechanism? Who or what unit can an aggrieved party AZM Speakup – Whistle Blower approach? Where is this Policy: person or unit located? Please discuss what Communication Platforms through a issues/complaints were dedicated helpline number, email raised, and how these issues address and text messaging option is were resolved. established. External customers can also write to us on our very active social media platforms of twitter and face book. The messages are received by our customer services department and passed on, if need be to the highest management authority. Direct Community relationships are also established by our stakeholder management teams under the sustainability management department. They work along with the operational team to resolve problems. A separate helpline and customer care contact is established for industrial customers. 21 3.2.3 Social and Please provide ADB a copy Attached as Appendix “H” (2nd Community of the Multi-Stakeholder paragr Engagements Engagement Strategy. aph) 34 3.2.7 Social Media and Please discuss the content Final VSS (as distinct to VSS offered Assets Branding of the VSS scheme. on 31st Dec.2010) was offered to Non Core employees on 29th June Was the VSS scheme 2011 and remained in force upto discussed with and found 10th Feb. 2012. acceptable by the labor union? During discussions, It provided the following benefits: what were the concerns raised and agreements 1. Ex Gratia payment of one reached? What are the Basic Pay for every month of remaining issues with the remaining service subject to union, if any? a maximum of 85, 2. Encashment of Earn/Privilege Leave Balance 3. Provident Fund as per Company Rules 4. Gratuity as per entitlement 5. Upfront Payment of post retirement Medical facility@ 7.5 Basic Pay 6. Upfront payment of cash equal to 5 years post retirement. electricity benefits 7. Salary for illegal absences during period of illegal strikes 8. Total pay out of FVSS to be 5-15% higher than that of VSS offered on 31 December 2010. (The Minimum total FVSS Pay out:: :Not less than Rs.721,000/= disregard of length of service) The following formal Meetings were held with Unions: 1. Two meetings were held with the then CBA, namely Labour Union on 23 May and 25th May 2011. Subsequently on 3rd June 2011 Supreme Court announced its Landmark decision declaring that NIRC had not any jurisdiction over the organizations incorporated and operating in provinces. As a consequence all the unions registered with NIRC became defunct and lost their status as CBA. We issued an Administrator Circular to the effect on 10th June 2011, which was challenged by the defunct Labour Union in the High Court and still holds, as it has not been set aside by the Sindh High Court. 2.. After the loss CBA status by LU, Management invited all the defunct Unions, i.e. KESUTY Union, Labour Union and Peoples Workers Union, who had come together on the platform of Mazdoor Etihad. Two meetings were held with them on 17 June and 23 June to discuss the issue of surplus noncore staff but due to intransigence of the activists of defunct LU no agreement could be reached with the defunct Unions. But these meetings brought forth the differences among them and KESUTY Union parted its way from Mazdoor Etihad and publically criticized former CBA for its intransience and non compromising attitude. Consequently the Management has to unilaterally announce the above FVSS on 29 June 2011. The Union Leaders in their above meetings raised the following points. 1. Policy of outsourcing be reversed and all noncore staff be taken back on their jobs. 2. All those dismissed/ terminated for violent misconduct, unauthorized absence during illegal strikes or dismissed on theft charges after domestic inquiry be reinstated with back benefits. 3. Those who absented from work to participate in illegal strike be paid salary for the period of unauthorized absence. On 26thJuly In Governor House Government officials held separate meetings with the Management and leaders of the defunct Unions and the following agreement was executed; 1. Post FVSS retrenchment deferred. 2. Dispute Resolution Committee of representatives of Administration, KESC Management, and defunct Unions be formed within one week to address disputed matters. No agreement could not take place on the formation of the Dispute Resolution Committee due to uncompromising behaviour of defunct Labour Union. 35 3.2.7 In what context did KESC 1. There were numerous employees suffer during the incidents of physical assault protests? Were they on the teams attending harassed by the labor customers complaints. union? But are they Contingents of armed worker members of the union? rode on motor bikes and resorted to violence against the team of workers carrying on repairs and maintenance in the different parts of the city. Team of workers were fired at and harassed and threatened for life. 2. Employees were forced to close complaint centres/offices. 3. The officers were encircled and besieged employees were released by the Law enforcement agencies. 4. Dispatch of PMTs and other materials from Central Stores to different locations was forcibly stopped to ensure that customers were not attended and rectified in time. There were armed attacks at offices and there were incidents of encounter with police which has come to the rescue of besieged offices/employees. 40 3.3 Major Challenges With the reported five (5) Measures to prevent reoccurrences and Issues for the fatal accidents, please are attached as APPENDIX – “B” Company discuss: Notable measures include (i) what measures were put in Development of SOP for place to avoid or Line Isolation minimize these Improvement in accidents? competence level through (ii) what is KESC's training and awareness human resource Increased safety inspections policy regarding Enhancement of reward for workers' compliance of SOPs and involved in fatal Strictness of reprimands accidents? Does against non-adherence of KESC provide SOPs. life/health insurance to its The legal heirs of those who die in workers? What fatal accidents are provided the assistance or following special benefits; compensation did KESC Insurance: Rs200,000= provide to the Special workers (and Compensation/Insurance: Rs their families) 300,000/= involved in these accidents? Funeral expenses: Rs.20,000/= Post funeral expenses: Rs. 50,000/= Widow’s Grant: Rs. 20,000/= Saleeka Sewing Machine for widow. In addition the heirs also are paid/allowed their following normal benefits: Gratuity Provident Balance Encashment of Leave Balance Besides the children of deceased get medical benefit till the age of 25. Widow medical for 5 years. Medical for children upto age of 25 40 3.3 The section discusses the It covers the total of news items negative media coverage of relating to KESC. The 764 news the project totaling to 764 items may include the items news items. Please clarify if published relating to labor disputes this monitoring of news between unions and KESC. items includes those of the labor disputes between the 231 Nos. were related to the load union and KESC, covered by shedding and power break down national/local newspapers? issues, 180 were views of the public office holders, political parties, business and industry leaders, 141 were letters to the editors focusing KESC’s business operations and 212 news items were KESC point of views and clarifications. 41 4.0 Compliance with The table indicates The status of compliance to Action Action Plan “Compliance with Action Plan is updated for the period June Plan (Revised: October 02, 2013. APPENDIX “C”. (Revised: 2009). Is there a more October 02, updated table for the 2009) reporting period (July 2011 – June 2012). 44 4.0 Compliance with Why is the Bin Qasim Initial feasibility was conducted for Action Plan Capacity Enhancement 575 MW, when design commenced (Item Project indicated as and specifications were drawn it 8) (Revised: 575MW? Shouldn’t this be became as 560 MW. At ISO October 02, 560MW? conditions its 572 MW gross. 2009) 46 5.1.1 HSE Please provide annual data Organization, from 2007–2012 of KESC's Total Budget and human resources/staff Year Male Female Reporting Line (male:female:total). Headcount 30 Jun 17494 348 17,842 Please discuss any 2007 significant reductions in 30 staff or employment of new Jun 17,278 351 17,629 staff.
Recommended publications
  • Annual Report 2018
    Pakistan Telecommunication Company Limited Company Telecommunication Pakistan PTCL PAKISTAN ANNUAL REPORT 2018 REPORT ANNUAL /ptcl.official /ptclofficial ANNUAL REPORT Pakistan Telecommunication /theptclcompany Company Limited www.ptcl.com.pk PTCL Headquarters, G-8/4, Islamabad, Pakistan Pakistan Telecommunication Company Limited ANNUAL REPORT 2018 Contents 01COMPANY REVIEW 03FINANCIAL STATEMENTS CONSOLIDATED Corporate Vision, Mission & Core Values 04 Auditors’ Report to the Members 129-135 Board of Directors 06-07 Consolidated Statement of Financial Position 136-137 Corporate Information 08 Consolidated Statement of Profit or Loss 138 The Management 10-11 Consolidated Statement of Comprehensive Income 139 Operating & Financial Highlights 12-16 Consolidated Statement of Cash Flows 140 Chairman’s Review 18-19 Consolidated Statement of Changes in Equity 141 Group CEO’s Message 20-23 Notes to and Forming Part of the Consolidated Financial Statements 142-213 Directors’ Report 26-45 47-46 ہ 2018 Composition of Board’s Sub-Committees 48 Attendance of PTCL Board Members 49 Statement of Compliance with CCG 50-52 Auditors’ Review Report to the Members 53-54 NIC Peshawar 55-58 02STATEMENTS FINANCIAL Auditors’ Report to the Members 61-67 Statement of Financial Position 68-69 04ANNEXES Statement of Profit or Loss 70 Pattern of Shareholding 217-222 Statement of Comprehensive Income 71 Notice of 24th Annual General Meeting 223-226 Statement of Cash Flows 72 Form of Proxy 227 Statement of Changes in Equity 73 229 Notes to and Forming Part of the Financial Statements 74-125 ANNUAL REPORT 2018 Vision Mission To be the leading and most To be the partner of choice for our admired Telecom and ICT provider customers, to develop our people in and for Pakistan.
    [Show full text]
  • SWOT Analysis of Ufone
    Ufone Ufone GSM is a Pakistani GSM cellular service provider, It's one of five GSM Mobile companies in Pakistan, and is a subsidiary ofPakistan Telecommunication Company. After the privatization of PTCL, Ufone is now owned by Etisalat. Ufone has a subscriber base of 20.23 million as of September 2010. Ufone Cellular Company INTRODUCTION TO UFONE Ufone is a newly cellular company as compared to others like Mobilink, Zong(Paktel), Instaphone operating inPakistan, providing cellular services for Eight years now. Ufone services are offered by Pak Telecom Mobile Limited (PTML), a 100% owned subsidiary of Pakistan Telecommunication Company Limited (PTCL). Established to operate cellular telephony. The company commenced its operations, under the brand name of Ufone, from Islamabad on January 29, 2001. and subsequently extended its coverage to other cities i.e. Lahore, Karachi, Kohat, Jehlum,Gujranwala, Faisalabad, Sheikhopura. In addition to the road coverage on Peshawar-Islamabad-Lahore section. Till now its coverage has been extended to more than 750 cities. In Peshawar its operation were started on 7th of May, 2001. Ufone, the brand name of the service, has been a highly successful venture touching 120000 subscribers in less than four months of its operations. SWOT analysis of Ufone INTRODUCTION Ufone GSM is a Pakistani GSM cellular service provider. It is one of six GSM Mobile companies in Pakistan and is a subsidiary of Pakistan Telecommunication Company. The company commenced its operations under the brand name of Ufone from Islamabad on January 29 2001. U fone expanded its coverage and has added new cities and highways to its coverage network.
    [Show full text]
  • Posted Issuer
    Central Depository Company of Pakistan Limited Element Report Page# : 1 of 267 User : XKYFSI2 Report Selection : Posted Date : 04/11/2020 Element Type : Issuer Time : 06:02:58 Element ID : ALL Location : ALL Status : Active From Date : 01/01/1996 To Date : 04/11/2020 Element Id Element Code Element Name Phone / Fax Contact Name CDC Loc Role Code Maximum User Status Main A/c Address eMail Address Designation Client A/c CM Option No. Date -------- -------- ------------------------ ---------------------- --------------- --------- -------- ----------- -------- 00002 EFU GENERAL 2313471-90 ALTAF QAMRUDDIN KHI Active INSURANCE LIMITED GOKAL 3RD FLOOR, 2314288 CFO AND 08/06/1998 QAMAR HOUSE, CORPORATE M. A. JINNAH ROAD, SECRETARY KARACHI. 00003 HABIB INSURANCE 111-030303 SHABBIR A. KHI Active COMPANY LIMITED GULAMALI 1ST FLOOR, STATE 32421600 CHIEF 01/09/1997 LIFE BLDG. NO. 6, EXECUTIVE HABIB SQUARE, M. A. JINNAH ROAD, [email protected] KARACHI. et 00004 HAYDARI 2411247 ALI ASGHAR KHI Active CONSTRUCTION RAJANI COMPANY LIMITED MEZZANINE FLOOR, 2637965 CHIEF 10/03/2004 UBL BUILDING, EXECUTIVE OPP. POLICE HEAD OFFICER OFFICE, I.I CHUNDRIGAR ROAD, KARACHI. 00005 K-ELECTRIC LIMITED 38709132 EXT:9403 AMJAD MUSTAFA KHI Active Central Depository Company of Pakistan Limited Element Report Page# : 2 of 267 User : XKYFSI2 Report Selection : Posted Date : 04/11/2020 Element Type : Issuer Time : 06:02:58 Element ID : ALL Location : ALL Status : Active From Date : 01/01/1996 To Date : 04/11/2020 Element Id Element Code Element Name Phone / Fax Contact Name CDC Loc Role Code Maximum User Status Main A/c Address eMail Address Designation Client A/c CM Option No. Date -------- -------- ------------------------ ---------------------- --------------- --------- -------- ----------- -------- 1ST FLOOR, 32647159 MANAGER, 01/09/1997 BLOCK-A, CORPORATE AFFAIRS POWER HOUSE, [email protected] ELANDER ROAD, KARACHI 00006 MURREE BREWERY 5567041-7 CH.
    [Show full text]
  • Pakistan Telecommunication Company Limited
    VIS Credit Rating Company Limited www.vis.com.pk RATING REPORT Pakistan Telecommunication Company Limited REPORT DATE: RATING DETAILS October 05, 2020 Latest Rating Previous Rating Long- Short- Long- Short- Rating Category term term term term RATING ANALYSTS: Entity AAA A-1+ AAA A-1+ Talha Iqbal Rating Date October 05, 2020 October 11, 2019 [email protected] Rating Outlook Stable Stable Rating Action Reaffirm Reaffirm Asfia Aziz [email protected] COMPANY INFORMATION Incorporated in 1995 External auditors: KPMG Taseer & Hadi Co., Chartered Accountants. Public Listed Company Chief Executive Officer: Rashid Naseer Khan Board of Directors: - Mr. Shoaib Ahmad Siddiqui - Mr. Abdulrahim A. Al Nooryani - Mr. Rizwan Malik - Mr. Hatem Dowidar - Mr. Hesham Al Qassim - Mr. Khalifa Al Shamsi - Mr. Naveed Kamran Baloch - Syed Shabahat Ali Shah - Dr. Mohamed Karim Bennis APPLICABLE METHODOLOGY(IES) VIS Entity Rating Criteria: Corporates (May 2019) https://www.vis.com.pk/kc-meth.aspx VIS Credit Rating Company Limited www.vis.com.pk Pakistan Telecommunication Company Limited OVERVIEW OF THE INSTITUTION RATING RATIONALE Pakistan Pakistan Telecommunication Company Limited (PTCL) is the leading Integrated Information Telecommunication Communication Technology (ICT) Company in Pakistan, having the largest fixed-line network Company Limited in the country. The company’s products and services include voice services, high-speed (PTCL) was broadband internet, Fiber to the Home (FTTH) services, CharJi wireless internet, Smart TV incorporated in 1995 (IPTV) service, , Smart TV App and Touch App, digital-content streaming services like Netflix, and provides , and enterprise-grade platforms like Smart Cloud, Tier-3 Certified Data Centers, Managed and telecommunication Satellite Services.
    [Show full text]
  • Ptcl Bandwidth Tariffs
    PAKISTAN TELECOMMUNICATION AUTHORITY HEAD QUARTERS, F-5/1, ISLAMABAD Tel:051-2878138 Fax:051-9225334 www.pta.gov.pk PTCL BANDWIDTH TARIFFS Date of hearings : 22.09.2006 05.10.2006 Venue of hearings : Auditorium, PTA HQs, Islamabad Date of issuance of the instant Determination : 06.10.2006 The Authority present: Maj. Gen. (R) Shahzada Alam Malik: Chairman S. Nasrul Karim Ghaznavi: Member Dr. Muhammad Yaseen: Member The Issue: “Reviewing and removing afresh the anomalies that exist in the tariffs of Domestic Private Leased Circuit (DPLC), International Private Leased Circuit (IPLC) and Internet Protocol (IP) of PTCL” Revised/afresh decision/Determination of the Authority 1. PRELUDE: 1.1 Being mindful of its statutory obligations under the Pakistan Telecommunication (Re-organization) Act, 1996 (the “Act”), the Pakistan Telecommunication Authority (the “Authority”), keeping in view the worldwide trend of tariffs, decided to regulate Pakistan Telecommunication Company Limited’s (“PTCL”) bandwidth tariffs in order to bring it in line with the international benchmarks for promoting proliferation of ICT related services which depend on the same. 1 1.2 Through this determination the Authority desires to set and determine afresh the tariffs of Domestic Private Leased Circuit (DPLC), International Private Leased Circuits (IPLC) and Internet Protocol (IP) of PTCL. 2. BACKGROUND/FACTS THAT NECESSITATED ISSUANCE OF THE INSTANT DETERMINATION: 2.1 Succinctly, relevant facts that constrained the Authority to settle the captioned issue through the instant determination is that PTCL being the bulk provider of bandwidth in the country is likely to maintain its dominance in the market for the next few years. During the past few years, there has been noticed a major decline in the cost of building submarine cables.
    [Show full text]
  • Pakistan Telecommunication Company Limited (PTCL) Is the Largest Telecommunication Company in Pakistan
    Pakistan Telecommunication Company Limited (PTCL) is the largest telecommunication company in Pakistan. This company provides telephony services to the nation and still holds the status of backbone for country's telecommunication infrastructure, despite arrival of a dozen other telecoms including telecom giants like Telenor and China Mobile. The company consists of around 2000 telephone exchanges across country providing largest fixed line network. GSM, CDMA and Internet are other resources of PTCL, making it a gigantic organization. The Government of Pakistan sold 26% shares and control of the company to Etisalat in 2006. The Government of Pakistan retained 62% of the shares while the remaining 12% are held by the general public. HISTORICAL BACKGROUND 1947 Posts & Telegraph Dept established 1961 Pakistan Telegraph & Telephone Dep¶t. 1990-91 Pakistan Telecom Corporation. 1995 about 5% of PTC assets transferred to PTA, FAB & NTC. 1996 PTCL Formed listed on all Stock Exchanges of Pakistan. 1998 Mobile (Ufone)& Internet(PakNet)subsidiaries established. 2000 Telecom Policy Finalized. 2003 Telecom Deregulation Policy Announced. 2006 Etisalat Takes Over PTCL's management. FIRMS CUSTOMERS 1. SERVICES FOR CONSUMERS These customers are households, and the nature of connection that installed at home according to it and charges are charged from them according to domestic level. 2. SERVICES FOR CORPORATE CUSTOMERS These are business customers such as organization, firms, institution, public call office, etc. different package are given according to the nature and size of organization. 1. PRODUCTS AND SERVICERS Pakistan Telecommunication Company Limited not only Provides Conventional telephone facilities, it also offers optical fiber services to the private sector. We will briefly discuss below the product lines being offered by the PTCL.
    [Show full text]
  • Dawood Hercules Corporation Limited List of Unclaimed Dividend / Shares
    Dawood Hercules Corporation Limited List of Unclaimed Dividend / Shares Unclaimed Unclaimed S.No FOLIO NAME CNIC / NTN Address Shares Dividend 22, BAHADURABADROAD NO.2, BLOCK-3KARACHI-5 1 38 MR. MOHAMMAD ASLAM 00000-0000000-0 5,063 558/5, MOORE STREETOUTRAM ROADKARACHI 2 39 MR. MOHAMMAD USMAN 00000-0000000-0 5,063 FLAT NO. 201, SAMAR CLASSIC,KANJI TULSI DAS 3 43 MR. ROSHAN ALI 42301-1105360-7 STREET,PAKISTAN CHOWK, KARACHI-74200.PH: 021- 870 35401984MOB: 0334-3997270 34, AMIL COLONY NO.1SHADHU HIRANAND 4 47 MR. AKBAR ALI BHIMJEE 00000-0000000-0 ROADKARACHI-5. 5,063 PAKISTAN PETROLEUM LIMITED3RD FLOOR, PIDC 5 48 MR. GHULAM FAREED 00000-0000000-0 HOUSEDR. ZIAUDDIN AHMED ROADKARACHI. 756 C-3, BLOCK TNORTH NAZIMABADKARACHI. 6 63 MR. FAZLUR RAHMAN 00000-0000000-0 7,823 C/O. MUMTAZ SONS11, SIRAJ CLOTH 7 68 MR. AIJAZUDDIN 00000-0000000-0 MARKETBOMBAY BAZARKARACHI. 5,063 517-B, BLOCK 13FEDERAL 'B' AREAKARACHI. 8 72 MR. S. MASOOD RAZA 00000-0000000-0 802 93/10-B, DRIGH ROADCANTT BAZARKARACHI-8. 9 81 MR. TAYMUR ALI KHAN 00000-0000000-0 955 BANK SQUARE BRANCHLAHORE. 10 84 THE BANK OF PUNJAB 00000-0000000-0 17,616 A-125, BLOCK-LNORTH NAZIMABADKARACHI-33. 11 127 MR. SAMIULLAHH 00000-0000000-0 5,063 3, LEILA BUILDING, ABOVE UBLARAMBAGH ROAD, 12 150 MR. MUQIMUDDIN 00000-0000000-0 PAKISTAN CHOWKKARACHI-74200. 5,063 ZAWWAR DISPENSARYOPP. GOVT. COLLEGE FOR 13 152 MRS. KARIMA ABDUL RAHIM 00000-0000000-0 WOMENFRERE ROADKARACHI. 5,063 ZAWWAR DISPENSARYOPP. GOVT COLLEGE FOR 14 153 DR. ABDUL RAHIM GANDHI 00000-0000000-0 WOMENFRERE ROADKARACHI.
    [Show full text]
  • 132Kv Gadap Grid Station and 132Kv Transmission Line Maymar to Gadap Grid Station
    Environmental Impact Assessment of 132kV Gadap Grid Station and 132kV Transmission Line Maymar to Gadap Grid Station Final Report July, 2014 global environmental management services 2nd Floor, Aiwan-e-Sanat, ST-4/2, Sector 23, Korangi Industrial Area, Karachi Ph: (92-21) 35113804-5; Fax: (92-21) 35113806; Email: [email protected] EIA FOR K-ELECTRIC KARACHI, SINDH EXECUTIVE SUMMARY This report discusses the Environmental and Socio-economic impact assessment of the proposed linked projects for electricity power supply infrastructure. The project consists of addition of 132 kV Grid having capacity of 40MVA at existing 66kV Gadap Grid Station. This power will be served from Maymar Grid Station through Single Circuit Overhead and Underground transmission line. Underground cable will loop out from Maymar Grid Station along the main road till Northern By-Pass Road at an approximate length of 1 km. That point forward, through PLDP, Overhead transmission network will begin and end at the Gadap Grid Station which is about 20 km in length. The project is proposed to fulfill the electricity requirements of the city by improvement of transmission networks. PROPONENT INTRODUCTION K-Electric Limited formerly known as Karachi Electric Supply Company Limited (KESC) is at present the only vertically-integrated power utility in Pakistan that manages the generation, transmission and distribution of electricity to the city of Karachi. The Company covers a vast area of over 6,500 square kilometers and supplies electricity to all the industrial, commercial, agricultural and residential areas that come under its network, comprising over 2.2 million customers in Karachi and in the nearby towns of Dhabeji and Gharo in Sindh and Hub, Uthal, Vindar and Bela in Balochistan.
    [Show full text]
  • Capital Market
    7 Capital Market 7.1 Introduction Pakistan’s capital market showed a mixed trend during FY01 (see Table7.1). The benchmark KSE- 100 index shed 10.1 percent since the beginning of FY01 and closed the year at 1366.4. This downturn can be attributed to a host of factors including the lack of concrete progress on privatization, uncertain investor confidence, the continuous depreciation of the Rupee and friction between SECP and the bourses. While equity market remained bearish, the corporate bond market showed encouraging movements. The growth in this market was encouraging, as ten new TFCs issues were floated during FY01 alone, compared to ten in the last five fiscal years. 7.2 Stock Market Performance The Karachi Stock Exchange (KSE) maintained Table 7.1: Key Indicators of Capital Market its dominance in the country (see Table 7.1). FY99 FY00 FY01 Karachi Stock Exchange Primary market activities in KSE remained KSE-100 index 1054.7 1520.7 1366.4 slow, as only four new companies (with paid up SBP General index 106.4 128.8 118.7 capital of Rs 3.6 billion), were listed during Paid up capital (billion Rs) 215.0 229.3 239.9 FY01. Similarly, only two companies were Turnover of shares (billion #) 25.5 48.1 29.2 floated on the Lahore stock exchange, of which Lahore Stock Exchange Hubco was already subscribed. Like the KSE- LSE-101 index 288.9 372.0 273.2 100 index, the LSE-101 also declined by 98.8 Turnover of shares (billion #) 9.8 16.4 7.8 Paid up capital (billion Rs) 186.9 207.7 226.2 points (26.5 percent) to 273.2 by end-FY01.
    [Show full text]
  • Effect of Privatization on Fertilizer Sector: (Real World Case Study) (Disinvestment in PAK Saudi Fertilizer and Its Effect on FAUJI FERTILIZER COMPANY)
    IOSR Journal Of Humanities And Social Science (IOSR-JHSS) Volume 14 , Issue 6 (Sep. - Oct. 2013), PP 18-33 e-ISSN: 2279-0837, p-ISSN: 2279-0845. www.Iosrjournals.Org Effect of privatization on fertilizer sector: (real world case study) (disinvestment in PAK Saudi fertilizer and its effect on FAUJI FERTILIZER COMPANY) 1 Umaid A Sheikh, Sadaf Ehsaan Bba (Hons) 4 Years Specialization In Accounting And Finance Mba (With Research) Global Financial Management And Advanced Accounting Principles MBO Scholar Department of Management Sciences COMSATS Institute of Information Technology Defense Road off RAIWIND Road, Lahore Pakistan 1. Lecturer Department of Management Sciences COMSATS Institute of Information Technology Defense Road off RAIWIND Road, Lahore Pakistan Abstract: In this research paper I have tried to find out the effect of privatization on Pakistan’s corporations. Government has privatized PAKSAUDI fertilizer; which was a huge asset for Pakistan’s fertilizer industry. This industry has millions of tons of production capacity and was earning huge million dollar capital income for economic progression of country. During 2001-2002 PAKSAUDI fertilizer was purchased by FFC’s subsidiary and consequences occurred which had never been repaired. In my research report I tried to show the effect of this acquisition on BIN QASIM plant. I also try to show that in Pakistan certain private entities manipulate to purchase national organization for their own benefits this has caused a huge loss to not only our nation but also to whole economy. In short this report is associated to huge macroeconomic perspective of privatization and its effect on our economy. After purchasing PAKSAUDI plant FFC has effectively reduced its debt share so that operating profit of firm has increased because PAK Saudi fertilizer has capacity of production of million tons of fertilizer as per need of consumption, targeting this industry has led FFC to better growth of operating profit.
    [Show full text]
  • Institute of Business Administration, Karachi Center for Executive
    Institute of Business Administration, Karachi Center for Executive Education Directors' Training Program Certification Year - No Program Name Designation Organization No. Certitied 1 IBA/DTP - 0001 2015 OEP Aziz Husain Independent Director Pakistan Pension Society 2 IBA/DTP - 0002 2015 OEP Imran Zarkoon Secretary QDA Quetta Development Authority 3 IBA/DTP - 0003 2015 OEP Sohail Salam Executive Director Pak Beverages (Pvt.) Ltd. (Pepsi Co) 4 IBA/DTP - 0004 2015 OEP Shahab Afroz Khan Director QEC Dawood University of Engg & Technology 5 IBA/DTP - 0005 2015 OEP Omair Idrees Allawala Director Idrees Textile Mills Ltd. 6 IBA/DTP - 0006 2015 OEP Omair Ahmed Mohsin Senior Manager Legal Uch Power (Private) Ltd 7 IBA/DTP - 0007 2015 OEP Dr.Rameez Khalid Program Director IBA, Karachi 8 IBA/DTP - 0008 2016 OEP Muhammad Zahir Esmail - Summit Bank Limited 9 IBA/DTP - 0009 2016 OEP Dr. Shahid Qureshi Director National ICT R&D Fund Board 10 IBA/DTP - 0010 2016 OEP Muhammad Aftab Alam Director Pioneer Cement Limited 11 IBA/DTP - 0011 2016 OEP Ali Hassan Askari Director Pioneer Cement Limited 12 IBA/DTP - 0012 2016 OEP Aly Khan Director Pioneer Cement Limited General Manager Information 13 IBA/DTP - 0013 2016 OEP Anwar Hussain Mirza Pakistan Petroleum Limited Technology 14 IBA/DTP - 0014 2016 OEP Shahid Aziz Independent Director Reliance Weaving Mills Ltd. 15 IBA/DTP - 0015 2016 INCOMPLETE Fahd Mukhtar Director Reliance Weaving Mills Ltd. 17 IBA/DTP - 0017 2016 Nestle Pakistan John Davis Head of Finance & Controls Nestle Pakistan Institute of Business Administration, Karachi Center for Executive Education Directors' Training Program Certification Year - No Program Name Designation Organization No.
    [Show full text]
  • Tackling Childcare Pakistan: Creating Family-Friendly Workplaces / Insights from IFC-PBC Peer Learning Collaboration
    Tackling Childcare Pakistan: Creating Family-Friendly Workplaces Insights from an IFC-PBC Peer-Learning Collaboration IN PARTNERSHIP WITH About IFC IFC – a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org. About PBC The Pakistan Business Council is the country’s premier research-based business advocacy body that promotes policies to sustainably foster growth of jobs, exports and import substitution. Its Centre of Excellence in Responsible business works towards lifting the capacity of business to act responsibly. For more information, visit www.pbc.org.pk. Disclaimer © International Finance Corporation 2021. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 Internet: www.ifc.org The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly, and when the reproduction is for educational and non-commercial purposes, without a fee, subject to such attributions and notices as we may reasonably require. IFC does not guarantee the accuracy, reliability, or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon.
    [Show full text]