Fifty Years of National Investment Trust. NIT. (2013-23)

 

It is an occasion of immense pleasure and pride for NIT to complete its 50 years of successful operations in the mutual fund industry. The institute has been providing un-tiring service to small, medium and large investors and has now entered the period to commemorate celebrations of its Golden Jubilee.

National Investment Trust Limited (NITL) is the pioneer Asset Management Company in Mutual Fund Industry and carries a market share of around 18% of the entire mutual funds industry where as NIT’s equity funds constitute 86% of the industry’s open end equity funds. It was established in 1962 and has the credit of being the First and Largest Asset Management Company of Pakistan with the Net Assets under its management of around Rs. 74 Billion as on June 30, 2012.

NIT’s Mission is to serve the investors by providing best possible return on their investments and to invest in the Capital Markets in a manner, which could provide depth for the investors’ and necessary capital to the industry. Over vision is to be recognized as the beacon of positive change in the Capital Markets. Leading by example, with an aim to provide the necessary opportunity to all the stakeholders and to contribute towards healthy growth of the Mutual Fund Industry.

NIT’s operational network spreads all over the country with 23 own branches and 01 centralized Investors’ Faciliation Center (IFC) in Karachi. In addition, various authorized bank branches are facilitating our investors. The Company is also represented in Dubai (UAE) by Arab Emirates Investment Bank (AEIB) and is catering to the needs of around 57,256 unit holders as on June 30, 2012. NITL has assigned a credit rating of AM2 – by PACRA, which reflects that the company has a very strong capacity to manage risks.

Over the years, NITL has expanded its product line to meet requirements of the investors depending upon their risk absorption appetite. Presently, the Company is managing a total of Five Funds, 3 Equity and 2 Fixed Income Funds.

Equity Funds:- i) NI(U)T Fund:- It is NIT’s flag carrier Open Ended Equity Fund and was launched in November 1962. Net assets of the Fund as on June 30, 2012 amounted to Rs. 41.487 billion. As on August 31st 2012, around 91.52 percent of the Fund remained invested in equities with around 36 percent investment in Oil & gas and Banking Sectors. The core objective of the Fund is to maximize return for Unit Holders and to provide a regular stream of current income through dividends. In addition, long-term growth is achieved through management of a diversified portfolio and investments in growth and high yielding equity securities. The risk profile of the fund is moderate to high and the fund provided a 10 year annualized return of 21.81% during FY12, NI(U)T earned a return of 7.57%. During its entire life history, the Fund has been consistent in paying dividends to its unit holders and has paid a per unit dividend of Rs. 3.50 in FY12.

ii) NIT-State Enterprise Fund (NIT-SEF):- NIT-State Enterprise Fund (NIT-SEF) was launched in January 2009 with an objective to take advantage of market conditions and acquire a selection of Eligible Stocks thereby creating an opportunity for investors to achieve superior returns. The Fund has an investment mandate to invest in eight state owned / controlled enterprises. It is an Open Ended Equity Fund, with moderate to high risk profile. The fund earned a return of 6.1% in FY12 whereas its return since inception until August 31, 2012 has been 199.23% against the benchmark return of 154.77%. The Fund paid a per unit @ 9.30% on the face value of Rs. 50/- for the unit holders of NIT-SEF in FY12. NIT will shortly offer this Fund to general public for investment.

iii) NIT-Equity Market Opportunity Fund (NIT-EMOF):- This Open Ended Equity Fund was launched in July 2008 with an objective to invest funds in the Equity Market at a time when Management Company of the Fund has reasons to believe that there is an opportunity to invest the Fund in a gainful manner and such investment is in the benefit of the Fund taking a long term perspective. The Fund generated a return of 18.04% for its investors in FY12 whereas its return since inception until August 31, 2012 has been 63.41%.

Fixed Income Funds:- i) NIT Government Bond Fund (NIT-GBF):- NIT Government Bond Fund was launched on 18th November 2009 with the objective to generate best possible return with minimum risk for its Unit Holders by primarily investing in securities issued by government of Pakistan. The risk profile of the Fund is low. As of August 31, 2012 95.08% of the Fund is invested in Treasury Bills. The total annulized return of the Fund during FY12 was 9.76%. Further since inception until August 31, 2012 NIT-GBF earned an annualized return of 11.82% against benchmark of 140.81%. With anticipation of further easing in the policy rates, NIT-GBF has increased its weighted average time to maturity of portfolio from 154 days to 185 days.

ii: NIT Income Fund (NIT-IF):- This Open End Income Fund was launched on 19th February, 2010 with an objective to generate a competitive stream of return with moderate level of risk for its investors. The Fund is primarily invested in a diversified portfolio comparising of high quality debt Securities & Instruments. As of August 31, 2012, around 62.27 percent of the Fund is invested in Treasury Bills whereas majority of the remained is invested high quality TFCs. The total annulized return of the fund during FY12 was 12.34% whereas, since inception until August 31, 2012 return has been 12.96% against benchmark rate of 12.71%.

NIT is commemorating 2012 as its Golden Jubilee Year. Special Giveaways are prepared to share with our clients and unit holders on this momentous occasion. Newspapers will publish special supplements on 12th November 2012. Pakistan Post is issuing a collection stamp in commemoration of achieving this milestone by a National Organization.

On the occasion of 50th Anniversary of National Investment Trust Ltd. (NITL), Pakistan Post is issuing a commemorative postage3 stamp of Rs. 15/- Denomination on November 21, 2012.

Diamond Jubilee of Department of Geography University of Karachi Pakistan. (2012-22)

 

One of the primate departments of the university, Department of Geography was established in November 1952. Its first Chairman, Dr. M.B. Pithawala was followed by Dr. Oskar Schmeider, Dr. Ibadur-Rehman, Dr. Shamsul Islam Siddiqui, Dr. Muhammad Ismail Siddiqui, Prof. Abdur Rauf Khan, Mrs. jamilaSarwar, Dr. Fazla Karim Khan, Dr. Iqtiday Husain Zaidi, Dr. Qazi Shakil Ahmed, Mr. Syed Asif Ali, Dr. (Mrs.) RAzia Afzal Niazi, Prof. Dr. Birjies Talat, Prof. Dr. FArkhunda Burke, Prof. Dr. Syed Jamil Hasan Kazmi, Prof. Dr. Khalida Mahmood and the current Chairperson Prof. Dr. FArkhunda Burke who have earnestly and painstakingly taken the department from its inception to the status of a glittering diamond. The department has been fortunate to be served by eminent, internationally reputed geographers and faculty including the uncoming, enthusiastic faculty members.

The department is housed in a two-storeyed building with lecture rooms, research laboratory, a well catalogued seminar liberary, staff rooms, girls’ common room etc. The Seminar Library containing more than 2000 books acquired by the department, through donations by retired teachers and ex-students, caters to the needs of more than 450 students. The Map Library containing about 3000 maps, ranging from topographical maps of various areas, maps of various cities and administrative maps of different scales; some aerial photographs and satellite imageries are available in the Department. The wall maps along the corridors pertaining to various regions of the world, and varying fields of geographic specialization give the department a geographic air. Satellite imageries of Pakistan and Karachi mounted on the elevations, express that maps are an essential tool of geography.

New perspectives in geography have evolved with the advent of Geographical Information System (GIS), Remote Sensing (RS) and Computer Aided Design (CAD). The department boasts of a computer laboratory for hands on working of students. A fully computerized research laboratory has been inaugurated by the Dean Faculty of Science, Prof. Dr. Nusrat Jamil, to cater to the thirty two registered research scholars.

An ‘A’ class Meteorological Laboratory established in 2003, in the foreground of the department is located on the WMO map. Regular reading are regularly dispatched by Supporting Staff trained for this purpose. The Abdur Rauf Khan Museum of Pre-History, contains relics of pre-historic cultures of Pakistan, collected from an area extending to about 120 miles around Karachi. The material ranges from early Paleolithic age through Middle and upper Paleolithic, Mesolithic and Neolithic to Harappan Age. Vertebrate fossils of Miocene Age derived from Sindh Kohistan and coastal areas of Sindh and Balochistan are on display in the museum.

To commemorate Celebration of Diamond Jubilee of Department of Geography University of Karachi, Pakistan Post is issuing a commemorative postage stamp of Rs.15/- denomination on November 19, 2012.

92nd Birth Anniversary of Hameed Naseem. Men of Letters. Pakistan (2012-21)

 

Hameed Naseem was Mufasser-e-Quran, Poet, Writer, Critic, former Deputy DG Radio Pakistan, former Director of the PIA Arts Academy, an acclaimed broadcaster and was called “broadcaster” by critics and his contemporaries. He was born on 6th October, 1920 at Shah Pur Kundi, District Gurdaspur. He was a prodigious learner and poet and started writing poetry at an early age in School days. He got opportunities to intermingle with poets and intellectuals like Faiz Ahmed Faiz and Dr. M.D. Taseer who were close friends of his father Abdul Aziz, known as Aziz Bitalvi, who had profound interest in poetry. He matriculated from M.B. High School Lahore and graduated from MAO College Amritsar. Later he moved to Lahore and did his M.A. Engilish from Islamia College Lahore where he was the leading poet, orator, and prose writer of the College and was especially known for his melodious voice (taranum) which always swayed the mushairas by its profound effect. During these days, he was a regular visitor of the famous Arab Hotel, which lay across the Islamia College Lahore and Nageena Bakery near Anarkali; both places were established rendezvous for the literati, poets, and scholars of the thirties and early forties and other intellectual community of Lahore. It was during this time that he received poetic inspiration and guidance from Sufi Tabassum and developed lifelong friendship with him as well Zia Jallandari, a leading poet and who regularly prodded poet inside him and motivated him for other research and literary endeavors.

His Tafseer-e-Quran, named, Ta’aruf Al Furqan, is composed of 5 volumes and provides in-depth and detailed commentary on Quran, with references to comparative religions. He wrote booklets, Aurat Islam Ki Nazar Main, for general readers to remove their some misconceptions about the role of woman in Islam and The Message of Islam, for the English speaking communities for better understanding of the basic Islamic concepts.

He was a promising poet of his times and his collection of poetry, Dood-e-Tahayar (The Smoke of Wonderment), is an important work of classical ghazal structures, and shows his confident grasp of the art of poetry writing which is guided by the rules of poetry and its rhetoric. His collections of poetry, Jast-e-Janoon, Gard-e-Malal, are also rated as valuable to Urdu literature. He was also a known critic who wrote critique on many poets and his book, Allama Iqbal Hemaray Azeem Shaaer, Panch Jadeed Shair, Kuch Aur Ahim Shair, introduction to Kuleeyat Shafeeq Fatima, are widely acclaimed among the literati circles. His book, “Allama Iqbal Hemaray Azeem Shaaer” was awarded Presidential Award posthumously on Iqbal Day in 2003 which was received by his widow, Nafisa Begum, and daughter, Seemin, from the President of Pakistan at the occasion of Iqbal Day in Lahore.

Notwithstanding his great contribution of producing 5-volumes’ of comparative religion commentary on Quran Hakeem, his autobiography Namumkin Ki Justajo, published in 1990, will remain his most memorable work and is still rated one of the best autobiographies in Urdu literature. This autobiography is unique in two ways – firstly, it is written in third person and secondly, it shows a picturesque kaleidoscope of cultural and literary life in Lahore and Amristar and in many parts of the world in those times, wherever he lives or visited, which have now vanished, and his contemporary personalities and events. It vividly portraits the days at MAO College Amristar, Islamia College Lahore, early days of Radio, and events of his colleagues like Meeraji, Noon Meem Rashid, Krishan Chander, greatest of them all, Prof. A.S. Bukhari, the first Indian to become Director of All-India Radio. Due to these peculiar characteristics of this autobiography, it has been called Ahad Nama by the critics.

Mr. Hameed Naseem also served as Director of the PIA Arts Academy in 1967 for few years and used his talents as a programme person in the promotion of Pakistan art and culture at international levels, mostly the destinations of the PIA at those times. At the twilight of his life and career, Mr. Hameed Naseem was researching and writing, Adbi Urdu Nasar, which could not be published due to his sudden death in 1998 and is still available with his heirs as a manuscript.

He was one of the pioneers and founders of Radio Pakistan after the creation of Pakistan. He started daily programme, Pakistan Hamara hay, from Radio Station Lahore which tried to inculcate national integration among the newly founded nation. He wrote many national songs (Qaumi Taranay) during the wars of 1965 and 1971 which were sung be eminent singers like Ustad Amanat Ali, Farida Khanum, Noor Jeha,. He had a long career in Radio Pakistan and was widely respected as a famous broadcaster and many posthumously remember his reputation as broadcasters’ broadcaster. He also served at BBC in London for few years on deputation but returned to Pakistan for love of the people and the country and declined all lucrative offers of staying at the BBC. The BBC remembered his contributions by placing a floral commemorative wreath on his grave after his death. He strated the programme, Roshni, and Quran-i-Hakeem aur Hamari Zindigi and conducted the programme himself for years in his typical broadcaster’s voice. This religious programme was so much popular among the listeners that it was broadcasted for decades till recent years. He was also founder of the Radio Station Hyderabad and appointed its first Station Director. Hameed Naseem retired as Deputy Director General but kept serving the Radio Pakistan as Advisor on Religious Affairs till the time of his death, and even performed his duties on the last day of his life, 28th September 1998.

His death was widely mourned in the literary circles, Radio Pakistan, PTV, and the electronic media relayed news and the print media published news reports as well as special features. Many famous poets and writers wrote obituaries in the national dailies and Literary Magazines, acknowledging his contributions for the Urdu literature, religion and Radio Pakistan. Hameed Naseem will always be remembered for his valuable contributions to Urdu literature, Poetry, history of Pakistan, and most importantly expounding our great religion.

On 92nd Birth Anniversary of Hameed Naseem, Pakistan Post is issuing a commemorative postage stamp of Rs.8/- denomination on October 19, 2012.

Wetlands Of Pakistan. The Arabian Sea Coral Reefs. (2012-20)

 

Wetlands of Pakistan The Arabian Sea Coral Reefs Commemorative Postage Stamps October 4, 2012:- Coral Reef Discovery Along Makran Coast, (Arabian Sea) Pakistan:- Coral Reefs are the “Rainforests” of the ocean. Reefs are ecologically important ecosystems and have a high biodiversity that serves as a storage bank of rich genetic resources. They are a source of food and medicine, and they protect the coast from wave erosion. Scientists have found an abundance of compounds to help fight heart disease, asthma, cancer, HIV and more.

Coral reefs are structure made of limestone deposited by living organisms. Although thousands of species inhabit coral reefs, however, only a fraction production produces the limestone that build the reef. The most important reef building organisms are the corals. Although there are hundreds of different species of corals but in general they are classified as either hard or soft coral. Hard corals (hermatypic) grow in colonies and are the architects of coral reefs.

Coral reefs are one of the oldest environments on earth. Most of the existing reefs have been growing from over 5,000 years.

There are three basic kinds of coral reefs: fringing reefs, barrier reefs, and atolls. Fringing reefs grow in shallow waters close to the coast. Barrier reefs are separated from land by lagoon, growing parallel to the coast and forming a large and continuous reef. Atolls are ring-shaped reefs that develop near the sea surface on underwater islands or island that sink, or subside.

Coral reefs are vital to coastal fisheries. It provide spawning, nursery, refuge and feeding areas for a large variety of organisms, including economically important crustaceans (e.g. shrimps, spiny lobsters and crabs).

A field mission of the Pakistan Wetlands Programme (PWP), lead by coral expert from Millport University, UK, indentified the first ever coral reef ecosystem near the Astola Island. Before this discovery it was blindly believed that coral reefs are not existed in Pakistan’s jurisdiction of the Arabian Sea.

The basis of information collected about coral reef associated fish species from the fishing areas near Gwader, an expedition team encompassing divers from PWP and Pakistan Navy conducted a survey of the possible coral sites in 2011 and discovered large area of deep sea coral near Gwader. This underwater survey was conducted in five sites in Gwader along the Arabian Sea. The most significant sites were: Cher Koh, Baladi Koh and Ganjabad. The coral colonies occurring at the Cher Koh, Baladi Koh and Ganjabad are mostly in growing stage and present a healthy condition.

Coral cannot survive it the water temperature is too high. Global warming has already led to increase levels of coral bleaching and this is predicated to increase in requency and severity in the coming decades. Adverse affects of this phenomenon cannot be avoided in terms of reefs ecosystems along Makran Coast.

On Wetlands of Pakistan (The Arabian Sea Coral Reefs), Pakistan Post is issuing a set of four commemorative postage stamps each denomination of Rs.8/- on October 4, 2012.

PAKISTAN WILDLIFE SERIES MIGRATORY BIRDS IN PAKISTAN (2012-19)

Migratory Birds in Pakistan Wild Life Series Commemorative Postage Stamps September 27, 2012:- Siberian Crane Order: Gruiformes. Family : Gruidae:- Siberian Cranes are widely dispersed in their breeding areas and rare highly territorial. They maintain feeding territories in winter but many form small and loose flocks, and gather closer at their winter roosts. They are very diurnal, feeding almost all through the day and their migration is done. When feeding on submerged vegetation, they often immerse their heads entirely underwater. When calling the birds stretch their neck forward. The context of several calls have been identified and several of these vary with sex. Individual variation is very slight and most calls have a dominant frequency of about 1.4khs. the unison calls duets between paired males and female however are more distinctive with marked differences across pairs. The female produces a higher pitched call which is the “loo” in the duetted “doodleloo” call. Pairs with walk around other pairs to threaten them and drive them away from their territory. In captivity, one individual was recorded to have lived for nearly 62 years while another lived for 83 years.

White Stork Order: Ciconiiformes. Famiy : Cicniidae:- The White Stork is a large bird. It has a length of 100-115 cm (39-45 in) and a standing h4eight of 100-125 cm (39-49 in). The wingspan is 155-215 cm (61-85 in) and its weight is 2.3-4.4 kg (5.1-9.7 lb). Like all storks, it has long legs, a long neck, and a long, straight, pointed beak.

The sexes are indentical in appearance, except that males are larger than females on average. The plumage is mainly white with black flight feathers and wing coverts; the black is caused by the pigment melanin. The breast eathers are long and shaggy forming a ruff which is used in some sourtship displays. The irises are dull brown a bright red beak and red legs, the coloration of which is derived from carotenoids in the diet. In parts of Spain, studies have shown that the pigment is based on astazanthin obtained from an introduced species of cray fish (Procambarus clarkia) and the bright red beak colours show up even in nestlings, in contrast to the duller beaks of young White Storks elsewhere.

Snow Geese Order: Anseriformes. Family : Anatidae:- The Snow Geese has two color plumage morphs white (snow) or gray / blue (blue), thus the common description as snows and blues.

White morph birds are white except for black wing tips but blue morph geese have bluish grey plumage replacing the white except on the head neck and tail tip. The immature blue phase is drab or slate-gray with little to no white on the head, nick or belly. Both snow and blue phase have rose-red feet and legs, and pink bills with black tomia (cutting edges) giving them a black “grin patch”. The colors are not as bright on the feet, legs and bill of immature birds. The head can be stained rusty-brown from minerals in the soil where they feed. They are very vocal and can often be heard from more than a mile away.

Shoveler Duck Order : Anseriformes. Family : Anatidae:- This species is unmistable in the northern hemisphere due to its large spatulate bill. The bredding dark has an iridescent dark green head, white breast and chestnut belly and flanks. In flight, pale blue forewing feathers are revealed, separated from the green speculum by white border. In early fall the male will have a white crescent on each side of the face.

Non-breeding (eclipse) plumage, the drake resembles the female. The female is a drab mottled brown like other dabblers, with plumage much like a female Mallard, but easily distinguished by the long broad bill, which is gray tinged with orange on cutting edge and lower mandible. The female’s forewing is gray.

On Migratory Birds in Pakistan (Wild Life Series), Pakistan Post is issuing a set of four commemorative postage stamps each denomination of Rs.8/- on September 27, 2012.