New Jubilee Insurance (NJI) Company Limited announced on Wednesday that it had acquired the general insurance business of Commercial Union in Pakistan effective Jan 1, 2003.A company press release quoted Masood Noorani, MD NJI as saying: 'This is the first time that the business of a prominent foreign insurer has been acquired by a Pakistani insurance company and is a proud achievement for the company as it celebrates its 50 years of successful operation in 2003'. The company stated that it was the pioneer and market leader in Health Insurance business in the country.
Aga Khan and Musharraf Discuss Regional IssuesNew microfinance and tourism initiatives focus on poverty and economic development - 2002-03-12Posted February 25th, 2010 by heritage
His Highness the Aga Khan, Imam of the Ismaili Muslims, and Pakistan?s President Pervez Musharraf yesterday launched two major initiatives: one to address the problem of endemic poverty, and the other to realise more fully the potential of an underdeveloped sector of Pakistan?s economy. These were also amongst topics discussed between the two leaders in private meetings.
Prince Karim Aga Khan called on President Pervez Musharraf and Prime Minister Mir Zafarullah Jamali here on Monday and exchanged views on issues of mutual interest.In his separate meetings with the president and the prime minister, Prince Karim Aga Khan held detailed discussions regarding investment cooperation in various fields, especially in the telecommunications, financial, social and economic development sectors.
He appreciated the direction of the government's economic policies which had helped in restoring investors' confidence.
Prince Karim Aga Khan, who recently visited the subcontinent, was instrumental in 'breaking the ice' that has led to the recent thaw between India and Pakistan, a Pakistani newspaper reported on Sunday.'It seems the Aga Khan devoted much of his time behind the glare of publicity in April in breaking the ice between New Delhi and Islamabad,' The News quoted diplomatic sources as saying.
At least two knowledgeable ruling politicians and a few senior Pakistani officials are crediting intense background efforts of spiritual leader of the Ismaili community, Prince Karim Aga Khan, for diplomatic breakthrough between Islamabad and New Delhi that in the past few days again ignited hope of a durable peace.Indian Prime Minister Atal Behari Vajpayee surprised the world in the past two weeks when he suddenly reversed the belligerent Indian stance of equating Pakistan with Saddam Hussain's Iraq by offering 'decisive' peace talks and restoration of full diplomatic relations with Pakistan.
The Aga Khan Fund for Economic Development (AKFED) has announced a substantial investment to initiate tourism, commercial and urban redevelopment in Afghanistan.The fund will establish a world-class hotel in the center of the country?s capital Kabul, Prince Amyn Aga Khan, the younger brother of His Highness the Aga Khan, has said.
The government led by Prime Minister Zafarullah Khan Jamali has undertaken a record privatisation of Rs4 billion in its initial months which is unprecedented as compared to any previous track record , said Privatisation Minister Dr Abdul Hafeez Sheikh.Talking to reporters informally after inaugurating the 8th National Exhibition of Visual Arts, the minister said that Rs4 billion privatisation includes that of Rs 3bn through stock exchange divestment and Rs1 billion through direct sale of ICP Mutual Fund. The minister assured that the pace of privatization would be accelerated in due course.
Prince Karim Aga Khan on Tuesday said the West needs to improve its understanding of Islam and also recognise the issues that are agitating the mind of the Muslim Ummah. Prince Karim Aga Khan, who is on a visit to Pakistan, said this while talking to a group of editors.Aga Khan deliberated upon the various facets of US' understanding of Islam and lamented the bias against Islam in the West. Commenting on the post-Sept 11 developments, he emphasised the need for a better understanding of Islam and the issues perturbing the Muslim mind around the world by the West.
The Aga Khan Fund for Economic Development (AKFED) will pay Rs 11 billion, or 52% of the bid price, soon after Eid-ul-Azha as the first instalment to acquire management control of Habib Bank Limited (HBL) while the rest of the amount will be paid within the next two years, a senior official of the Privatisation Commission said here Tuesday.After the first instalment, the remaining amount of Rs 11.409 billion, or 51.85 percent, will be paid by the AKFED in two years along with a certain amount of mutually agreed mark-up, he added.
President General Pervez Musharraf said Friday that Pakistan stands for peaceful settlement of all issues with India including the core Kashmir dispute, is ready to enter into a dialogue and desires sincerity in this commitment.
'We seek peaceful resolution of all disputes and differences especially the core dispute over Jammu and Kashmir - we desire sincerity in this commitment - we on our part will demonstrate all our seriousness,' he stated at a banquet the President hosted in honour of Prince Karim Aga Khan, the spiritual head of Ismaili community.
Islamabad ready for talks with Delhi at any time, anywhere; seeks ties of trust with Afghanistan; Aga Khan lauds Pak economic achievementsPresident General Pervez Musharraf said
Friday that Pakistan stands for peaceful settlement of all issues with India including the core issue of Kashmir. He said Islamabad is ready to enter into a dialogue with New Delhi and desires sincerity in this commitment.
President Pervez Musharraf today inaugurated The First MicroFinanceBank Ltd. in the presence of His Highness the Aga Khan, Imam of the Ismaili Muslims and Chairman of the Aga Khan Fund for Economic Development.
The Bank, the country?s first private financial institution dedicated to addressing the problems of endemic poverty, starts out with a capital of Rs.500 million contributed by the Aga Khan Rural Support Programme and the Aga Khan Fund for Economic Development
Tawana Pakistan Programme is successfully working in about 650 schools to improve educational as well as nutritional status of girls in poverty-ridden areas.The project aims at providing about 0.5 million girls access to education in about 5,300 primary schools in poverty-ridden districts, an official of the education ministry said.
The United States Agency for International Development (USAID) Wednesday signed a $4.5 million cooperative agreement with Aga Khan University (AKU).The agreement will help AKU establish an alternative examination board in the private sector for secondary and higher secondary education.
The signing ceremony at AKU was attended by Federal Minister for Education, Zobaida Jalal, US Ambassador to Pakistan, Nancy Powell USAID Country Director, Mark Ward, Chairman, AKU Board of Trustees, Ambassador Saidullah Khan Dehlavi and AKU President, Shamsh Kassim- Lakha.
Ishrat Hussain, Pakistan's central bank governor, expects to see a significant shift in the pattern of banking across the country after the successful privatisation of Habib Bank, one of Pakistan's three largest public sector banks.The sale of 51 per cent of Habib Bank's stock to AKFED (Aga Khan Fund for Economic Development) for $400 million in Pakistan's largest bank privatisation ever has set the pace for policy makers such as Hussain to claim that banking has returned to the private sector.
The Aga Khan University (AKU) and USAID on Wednesday signed an agreement for a grant of $4.5 million to AKU for establishing the country's first private examination board.The agreement signed by President AKU Shamsh Kassim-Lakha and US Ambassador Nancy Powell on behalf of AKU and USAID respectively was also attended by Federal Education Minister Zubaida Jalal and Sindh Education Minister Irfanullah Marwat, held at Aga Khan University and others.
While, Dr Thomas Christie, former dean, Faculty of Education, University of Manchester was appointed as the first Director of AKU-EB.
Your ExcellencyPrime Minister Shaukat Aziz
Your Excellency Governor Ishrat-ul-Ebad Honourable
Chief Minister Arbab Ghulam Rahim
Chairman Dehlavi and the Members of the Board of Trustees
Graduates and Parents
Generous donors and well wishers of the University,
from Pakistan and around the world
Benazir Bhutto, the Pakistan People?s Party chairperson, has said that Prince Sadruddin Aga Khan will be mourned not only by his family, friends and the Ismaili community but also by ?the larger world where he was well known and respected?.In her condolence letter to the late prince?s widow, Ms Bhutto wrote: ?So many will mourn the passing of a sensitive man of enormous intelligence, understanding and compassion. I will mourn him for all those reasons. I will mourn him too as a good friend of my family over many decades.?
Minister for Kashmir Affairs and Northern Areas Makhdoom Syed Faisal Saleh Hayat called on spiritual leader of Ismaili community Prince Karim Aga Khan at Serena Hotel, here on Tuesday.
Faisal thanked Prince Karim Aga Khan for paying visit to Azad Kashmir to express solidarity with the earthquake victims.
The minister also thanked the prince for extending assistance for the quake victims.
Faisal Saleh Hayat lauded the development and welfare activities of Aga Khan Foundation in Northern Areas.
Nestled amid the towering Himalaya, Hindukush and Karakoram ranges, communities in Pakistan?s Northern Areas have undergone a silent socio-economic upheaval in the past 20 years.
With $100 million, a development network headed by Prince Aga Khan, spiritual head of the Ismaelite sect, overhauled the region from a network of sleepy, marginalized communities in 1982 to a vibrant region boasting schools, healthcare, hydro-electric power schemes and even a micro-finance bank. The Northern Areas is home to 1.2 million people spread across 1,123 villages.