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Unformatted text preview: Notice is hereby given that the 3rd Anual General Meting o the Members o Ban Islami Pa istan Limited wil be held Inshalah on Friday, March 3 , 2 7 at 3: pm at the Hotel Regent Pla a, Sharea Faisal, Karachi. to transact the olowing busines: Ordinary Bu in 1. To receive, consider and adopt the Audited Acounts or the year ended December 31, 2 6 together with the Auditors' and Directors' Reports thereon. 2. To apoint auditors o the Ban or the year ending December 31, 2 7 and to ix their remuneration. The present auditors M/s Ford Rhodes Sidat Hyder & Co., Chartered Acountants, retire and being eligible, o er themselves or reapointment. Any oth r Bu in To transact any other busines with the permision o the chair. Notice of Anual General Meting Not : The Members' Register wil remain closed rom March 22, 2 7 to March 3 , 2 7 (both days inclusive). A member eligible to atend and vote at this meting may apoint another member as proxy to atend and vote in the meting. Proxies in order to be e ective must be received at the registered o ice not les than 48 hours be ore holding o the meting. An individual bene icial owner o the Central Depository Company, entitled to vote at this meting must bring his/her Computeri ed National Identity Card with him/her to prove his/her identity, and in case o proxy must enclose an atested copy o his/her Computeri ed National Identity Card. Representatives o corporate members should bring the usual documents required or such purposes. Members are requested to promptly noti y Share Registrar, M/s. Technology Trade (Pvt.) Ltd., Dagia House, 241-C, PECHS Society, Karachi, o any change in their adreses. By Order o the Board Gohar I bal Shai h Company Secretary Karachi: March 7, 2 7 6 D ar Shar hold r , On behal o the Board o the Directors, I am pleased to present the third anual report o Ban Islami Pa istan Limited. Pa istan's economy turned another year o impresive per ormance. The GDP growth rate was 6.6 %, third year in a row it has ben above 6. %. At the curent rate, Pa istan's growth rate is within the uper hal o emerging economies i.e. behind China, India and Vietnam and ahead o countries such as Hong Kong, Singapore, Thailand, Indonesia and Korea. While the Government is predicting an average growth rate o 6. % to 7. % in the medium term, some un-certainties specialy at the political ront may ned to be neutrali ed to achieve ul potential o the economy. On a positive note, multi- lateral agencies such as IMF are also predicting a sustainable growth rate o 6.5% to 7. % as a base case scenario. Yet another positive trend has ben increasing Foreign Direct Investment ('FDI') which is projected to touch US $6 Bilion without any noticeable privatisation proceds. This coupled with increased remitances have almost neutrali ed the increasing trade de icit thereby not puting any signi icant impact on the Pa rupe. Similarly, tax revenues are increasing while budget de icit has ben restricted at below 4% o the GDP. In lation has ben contained and with so tening o oil prices, it is expected to remain stable....
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- Fall '11