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Company News: Pakistan


Mohammad Raza Saeed, the CEO of, holds a Bachelor's degree from LUMS and is determined to bring Pakistan into global IT map by launching ground breaking technology products that can have global impact. was formed in 2003 and has become the largest community based automobile website in Pakistan with more than 300,000 registered car and motorcycle enthusiasts. The website has around 18 Million pages viewed every month, where people search for classifieds, cars and motorcycles as well as discuss and share auto-related issues, information, pictures, videos, etc with other members.

JS Bank Limited (JSBL) was formed in 2006 by the merger of Jahangir Siddiqui Investment Bank (Ltd) and the commercial banking operations of American Express Bank (Pakistan) Ltd JS Bank Limited also possesses a Primary Dealer license for government securities from the State Bank of Pakistan.
Being in insurance business for over 60 years, IGI Insurance is the fourth largest private sector non-life insurer in Pakistan, holding a decent market share of 5 percent. It is headquartered in Karachi and is part of the renowned Packages Group. The company deals with local as well as with multinational enterprises and maintains presence in seven cities across the country. It caters to the needs of 4,000 corporate and 19,000 individual customers. According to the statistics published by the company, it settled 152,794 claims worth Rs 5,497 million during 2006-2013.
DG Khan Cement Company Limited (DGKC) was formed in 1978 as a private limited company under the management control of State Cement Corporation of Pakistan Limited. In April 1986, the company initiated its commercial production with 2000 tons per day clinker based on dry process technology. Later in 1992, the company was acquired by Nishat group as a result of privatisation initiative of the government and it was listed on the country's stock exchanges.
Mahmood Saleem Mahmood joined civil service in 1974. Over his 36-year public career, he has worked in senior positions in organisations like FBR, CDA, FIA, PM secretariat and the President House. In the last ten years of his service, he served in different top administrative posts such as Secretary National Assembly, Secretary Women Development, Secretary Health, and Secretary Petroleum. Following his retirement in 2010, Mr. Mahmood was appointed member of the federal services tribunal for nearly two years. A recipient of various foreign trainings and certifications, Mr. Mahmood has represented Pakistan on numerous international fora like the United Nations, Common Wealth Associations, SAARC, and Inter Parliamentary Unions. He has master's degrees in Law, Administrative Sciences, and Political Science from Punjab University, besides an MSc in Strategic Studies from National Defence University.
Muhammad Rafi was appointed as Managing Director and CEO on June 13, 2014. He has 38 years of experience in senior management positions in Finance, Accounts, Banking, Corporate Affairs and Internal Audit. Rafi joined the Company in October 1988 and has served in various senior positions including Acting Executive Director (HR/Admin), Chief Financial Officer, General Manager (Finance) and General Manager (Internal Audit) prior to the assumption of his current position. Mr Rafi was also nominated by the Company to serve as a director of MCPL, an associated company: a role which he has performed since 2012.
Pakistan State Oil (PSO) is the largest oil marketing company (OMC) in Pakistan that is involved in storage, distribution and marketing of various petroleum products. Its portfolio consists of motor gasoline, furnace oil, high-speed diesel oil, kerosene oil, LPG, jet fuel, CNG, petrochemicals and lubricants.


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln