News and Events
Fatima Fertilizer Company Limited added to global stock index
Fatima Fertilizer has joined the ranks of top local companies as it has been added to Morgan Stanley Capital International (MSCI) Pakistan Index and MSCI Frontier Index from November 30, according to latest MSCI quarterly review. MSCI is a leading provider of investment decision tools worldwide and is widely used by top global fund managers to track a stock exchange’s position and make fund allocations accordingly. Recent data shows that Pakistan, a part of MSCI Frontier Index, has witnessed its weight rising slightly to 4.4% against 4% in June. Pakistan is sixth in the index weight-age wise and is the highest weighted South Asian country that includes Sri Lanka and Bangladesh.
CDM at Fatima Fertilizer Company Limited- Our commitment to clean environment
Global warming has become the most important challenge the world is facing in the 21st century. A lot of Research and Development is being done for curtailing greenhouse gas emissions. Following its accession to the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC) in January 2005, Pakistan made the Ministry of Environment the Designated National Authority (DNA) for Clean Development Mechanism under the Protocol. Fatima Fertilizer Company Limited entered into an agreement with N. Serve Environmental Services GmbH, a German Limited Liability Company, for development and implementation of a Clean Development Mechanism (CDM) project at its Plant located in Sadiqabad in July 2011. The project was completed in December 2011 and the basic aim of this project is the abatement of N2O and NOX emissions from the stack gases of HNO3 plant. The reduction of Green House Effect of these gases shows our commitment towards a cleaner environment.
PFL Achievement in Safety-Fahad Ishfaq- Fahad Ishfaq has been selected as one of the 2011 National Safety Council Rising Stars of Safety
Fahad Ishfaq has been selected from almost 150 nominees as one of the 2011 National Safety Council Rising Stars of Safety. Among fierce competition Fahad has delivered very impressive results and has earned a place as one of the NSC "40 Under 40," the Rising Stars of Safety class of 2011. NSC formally announced the members of this elite group in a feature story in the October 2011 issue of Safety+Health magazine, the official magazine of NSC Congress & Expo. In addition, NSC presented a personalized award to each of the 2011 Class of Rising Stars at this year's Congress & Expo in Philadelphia, October 30 - November 3.
114th Board Meeting Pakarab Fertilizers Limited
On October 21st, 2011, the 114th meeting of the Board of Directors of Pakarab Fertilizers Limited was held at Naya Nazimabad, Manghopir Road, Karachi. The quarterly accounts for the period ended September 30th, 2011 were considered. The Company declared a “Closed Period” from October 15th, 2011 to October 21st, 2011 (both days inclusive).
26th Fatima Fertilizer Company Limited
On October 14th, 2011, the 26th meeting of the Board of Directors of Fatima Fertilizer Company Limited was held at Naya Nazimabad, Manghopir Road, Karachi to consider the quarterly accounts for the period ended September 30th, 2011. The Company declared the “Closed Period” from October 15th, 2011 to October 21, 2011 (both days inclusive).
113th Board Meeting Pakarab Fertilizers Limited
On September 5th, 2011, the 113th meeting of the Board of Directors of Pakarab Fertilizers Limited was held at E-110 Khayaban-e-Jinnah, Lahore Cantt to consider the declaration of interim dividend/specie distribution. The Company declared a “Closed Period” from August 30th, 2011 to September 5th, 2011 (both days inclusive).
112th Board Meeting Pakarab Fertilizers Limited
On August 23rd, 2011, the 112th meeting of the Board of Directors of Pakarab Fertilizers Limited was held at E-110 Khayaban-e-Jinnah, Lahore Cantt to consider the half yearly accounts for the period ended June 30th, 2011. The Company declared the “Closed Period” from August 17, 2011 to August 23rd, 2011 (both days inclusive).
25th Fatima Fertilizer Company Limited
On August 23, 2011, the 25th meeting of the Board of Directors of Fatima Fertilizer Company Limited was held at E-110 Khayaban-e-Jinnah, Lahore Cantt to consider the half yearly accounts for the period ended June 30th, 2011. The Company declared the “Closed Period” from August 17th, 2011 to August 23rd, 2011 (both days inclusive).
111th Board Meeting Pakarab Fertilizers Limited
On July 26th, 2011, the 111th meeting of the Board of Directors of Pakarab Fertilizers Limited was held at E-110 Khayaban-e-Jinnah, Lahore Cantt. Investment for associated company namely Reliance Sacks Limited was considered and approved in compliance with the provisions of section 208 of the Companies Ordinance, 1984. The Company declared the “Closed Period” from June 30th, 2011 to July 6th, 2011 (both days inclusive).
Fatima Fertilizer enters into agreement with leading German firm to develop and implement CDM (Clean Development Mechanism) Project for the Catalytic Abatement of Nitrous Oxide in the Tail Gas of its Nitric Acid Plant
Fatima Fertilizer Company Limited has entered into an agreement with N. Serve Environmental Services GmbH, a German Limited Liability Company, for development and implementation of a Clean Development Mechanism (CDM) project at its Plant located in Sadiqabad under the provision of the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol.
The central feature of the Kyoto Protocol is the requirement that countries limit or reduce their greenhouse gas emissions to set levels. The CDM allows emission-reduction projects in developing countries to earn Certified Emission Reduction (CER) credits, each equivalent to one tonne of CO2. These CERs can be traded and sold, and used by industrialized countries to a meet a part of their emission reduction targets under the Kyoto Protocol.
N. Serve Environmental Services GmbH specializes in developing and financing high quality greenhouse gas emission reduction projects globally and is a world-leading expert for nitric acid N2O abatement project implementation and management.
Extraordinary General Meeting of Fatima Fertilizer Company Limited held on April 30, 2011 for company Directors Election.
Extraordinary General Meeting of Members of the Company was held on April 30, 2011 and the following seven persons have been elected as Directors of the Company for a term of three years commencing from May 1, 2011 in accordance with the provisions of Section 178 of the Companies Ordinance, 1984.
| 1. | Mr. Arif Habib | 2. | Mr. Fawad Ahmed Mukhtar |
| 3. | Mr. Fazal Ahmed Sheikh | 4. | Mr. Faisal Ahmed Mukhtar |
| 5. | Mr. Muhammad Kashif Habib | 6. | Mr. Jørgen Nergaard Gøl |
| 7. | Mr. M. Abad Khan |
110th Board Meeting Pakarab Fertilizers Limited
On April 29th, 2011, the 110th meeting of the Board of Directors of Pakarab Fertilizers Limited was held at E-110 Khayaban-e-Jinnah, Lahore Cantt. The quarterly accounts for the period ended March 31st, 2011 were considered. The Company has declared the “Closed Period” from April 23rd, 2011 to April 29th, 2011 (both days inclusive).
24th Fatima Fertilizer Company Limited
On April 29th, 2011, the 24th meeting of the Board of Directors of Fatima Fertilizer Company Limited was held at E-110 Khayaban-e-Jinnah, Lahore Cantt to consider the quarterly accounts for the period ended March 31st, 2011. The Company declared a “Closed Period” from April 23rd, 2011 to April 29th, 2011 (both days inclusive).
8th Annual General Meeting of Fatima Fertilizer Company Limited was held on March 31, 2011 at Royal Palm Golf and Country Club Lahore
8th Annual General Meeting of Fatima Fertilizer Company Limited was held on March 31, 2011 at Royal Palm Golf and Country Club Lahore. The management of Fatima Fertilizer Company shared the performance of the company during the previous year. In the picture Chairman, Mr. Arif Habib is responding to the questions raised by the shareholders.
Fatima Fertilizer Company Limited (Fatima), announced today that BNY Mellon New York USA has been appointed as its Depositary Bank for the first OTC-traded Depository Receipt from Pakistan
NEW YORK, March 09, 2011 - BNY Mellon, the global leader in asset management and securities servicing, has been selected by Fatima Fertilizer Company Limited as the depositary bank for its American Depositary Receipt (ADR) program. Fatima ADRs will be traded on the over-the-counter (OTC) market in New York under the symbol "FTMFY." Fatima Fertilizer's ordinary shares trade on all the three Stock Exchanges (Karachi, Lahore and Islamabad) in Pakistan. SEC of USA conveyed that the filing is in order and the program can proceed.
Fatima Fertilizer Company Limited was incorporated on December 24, 2003, with the objective of setting-up a fully integrated fertilizer complex, capable of producing two intermediate products i.e. Ammonia and Nitric Acid and four final products which are Nitro Phosphate ("NP"), 360K MT per annum, Nitrogen Phosphorous Potassium ("NPK"), 300K MT per annum Calcium Ammonium Nitrate ("CAN"), 420K MT per annum and Urea, 500K MT per annum at Mukhtar Garh, Sadiqabad. The Complex also includes 56 MW captive power plants in addition to off-sites and utilities. The Company has been allocated 110 MMCFD of gas from the dedicated Mari Gas fields. On completion, total cost of the Fatima Project will be around $ 750 million.
"With over 22 million hectares under cultivation, agriculture is the mainstay of Pakistan's economy. Fatima Fertilizer Company is a significant step in attaining fertilizer self sufficiency. As Fatima Fertilizer grows and expands a key milestone in our goals is the creation of this ADR program," said Fawad A. Mukhtar, Chief Executive Officer of the Company. "We will now be able to garner more international exposure and investment to continue to fund our future plans."
"As the first Pakistani based company to begin trading on the US OTC markets, Fatima Fertilizer will be the first Pakistani stock readily available to both retail and institutional investors," said Michael Cole-Fontayn, Chief Executive Officer of BNY Mellon's Depositary Receipts business. He further added, "With our IR advisory and transactional expertise, we can offer Fatima Fertilizer Company Limited the opportunity for enhanced exposure to the world's capital markets.
109th Board Meeting Pakarab Fertilizers Limited
109th meeting of the Board of Directors of Pakarab Fertilizers Limited was held on Thursday February 24, 2011 at 04:00 p.m. at 2nd Floor, Arif Habib Centre, 23 M.T.Khan Road, Karachi, to consider the Annual Accounts of the Company for the year ended December 31, 2010. The Board Meeting was preceded by a meeting of the Audit Committee of the Board. The Company had declared the “Closed Period” from February 17, 2011 to February 24, 2011 (both days inclusive).
23rd Board Meeting Fatima Fertilizer Company Limited
23rd meeting of the Board of Directors of Fatima Fertilizer Company Limited was held on Thursday February 24, 2011 at 11:30 a.m. at 2nd Floor, Arif Habib Centre, 23 M.T.Khan Road, Karachi, to consider the Annual Accounts of the Company for the year ended December 31, 2010. The Board Meeting was preceded by a meeting of the Audit Committee of the Board. The Company had declared the “Closed Period” from February 17, 2011 to February 24, 2011 (both days inclusive).
Fatima Fertilizer Company Limited launches "Sarsabz" Fertilizers
Fatima Fertilizer Company Limited launched its fertilizer brand "Sarsabz" on 16th January 2011 through an extensive campaign in electronic and print media, outdoor and at points of purchase. The newly launched brand "Sarsabz" represents quality nutrients from Fatima Fertilizer and Pakarab Fertilizers, an associated company. Brand launch ceremonies were held at plant sites of Pakarab Fertilizer (Multan), Fatima Fertilizer (Sadiqabad) and at the Head Office in Lahore. These events were attended by Employees and Business Associates from all over the country.
Mr. Fawad Ahmed Mukhtar, CEO of Fatima Fertilizers, while speaking on the occasion, said "At Fatima, we aim to be a world class manufacturer of fertilizer and ancillary products, with a focus on safety, quality and positive contribution to national economic growth and development, while caring for the environment and the communities we work to enhance shareholders' value."
Mr. Muhammad Zahir, Director Marketing said "Sarsabz is the only brand offering complete fertilizer solutions for all types of soils, all crops and at all stages of plant development and growth. We aspire to be the preferred brand of choice by the farmers and business associates; and provide a portfolio of quality products which will enrich our soils, enable better yields and bring prosperity to our country."
With the state of the art Fatima Fertilizer plant fully operational, the joint production capacity including Pakarab will stand at 2.2 million metric tons by the end of 2011 making it the largest compound fertilizer manufacturer of the country.
In his address, Mr. Arif ur Rehman, Director Operations, Fatima Fertilizer said "With the addition of this capacity, we are all set to provide Pakistan with the ability to reduce the import bill thereby saving on valuable foreign exchange as well as resulting in benefits for farmers and national economy."
Director Operations Pak-Arab Fertilizers, Mr. Qadeer Khan said "With our continued focus on product quality, we have excelled in all our key quality parameters. We have improved our efficiency and brought our processes in line with the global standards of safety health and environment."
It is important to note that, Fatima Fertilizer Company Limited & Pakarab Fertilizers Limited are owned by a consortium of two of Pakistan's leading business groups, Fatima Group & Arif Habib Group.
22nd Board Meeting Fatima Fertilizer Company Limited
On January 20, 2011, 22nd meeting of the Board of Directors of the Company was held at its Head Office, E-110, Khayaban-e-Jinnah, Lahore Cantt. In this meeting, the Company considered and approved the annual budget for the year 2011. The Board Meeting was preceded by a meeting of the Audit Committee of the Board in which the annual audit plan was approved.
108th Board Meeting Pakarab Fertilizers Limited
On January 20, 2011, 108th meeting of the Board of Directors of the Company was held at its Head Office, E-110, Khayaban-e-Jinnah, Lahore Cantt. In this meeting, the Company considered and approved the annual budget for the year 2011. The Board Meeting was preceded by a meeting of the Audit Committee of the Board in which the annual audit plan was approved.
Fatima Group - Committed to serving the nation in its time of need
The recent devastation in Pakistan caused by raging floodwater, destroyed hundreds of thousands of homes, washed away entire crops and killed livestock on a massive scale. With the forecast of more heavy rains and the anticipation of an impending humanitarian crisis, Fatima Group through its Corporate Social Responsibility Program embarked upon a comprehensive flood relief effort throughout the flood hit areas of Punjab. With all the companies under its banner, Fatima Group became active with its efforts from the very outset of the disaster as the first round of aid was dispensed by 5th of August. This aid amounting to more than Rs. 12 million included Cash Donations, Food & Clothing, Medicine and Tents etc. Apart from the management of the Fatima Group, the employees also donated a substantial amount of money for the relief efforts. So far the relief goods by Fatima Group have reached flood hit areas of Punjab, supporting around 14,000 flood victims in Muzaffargarh, Rahimyar Khan, Kot Addu, Bhong, Alipur, Sadiqabad and Liaqatpur. Continuing its maximum support during the preliminary stage of providing instant relief to the flood affectees Fatima Group plans to actively involve itself in the proceeding phase of rehabilitation of the displaced persons. The rehabilitation process is being chalked out, in view of the damage assessment of the affected areas, and a plan to bring about massive infrastructure uplift will be initiated simultaneously.
Pakarab Worker Welfare Board Established
Friday, October 08 2010, an agreement was signed between Governing Body of Worker Welfare Fund, Ministry of Labor and Manpower and Pakarab Fertilizers Limited for the construction of Mukhtar A. Sheikh Memorial Welfare Hospital a Kidney and Psychiatric treatment facility and other allied services at Multan at a cost of approximately Rs. 2 billion.
Under the agreement, Pakarab Workers Welfare Board is being established as a Public-Private partnership between Worker Welfare Fund (WWF) and Pakarab Fertilizers Limited for the efficient management and administration of the money to be allocated for the Project. For the establishment of the hospital 50% will be contributed by the WWF and the remaining 50% will be contributed by Pakarab Fertilizers Limited. The total project cost of Rs. 2 billion does not include the land cost. The land for the project is being provided by Pakarab Fertilizers Limited. Once completed, it will be a self sustaining hospital.
Speaking on the occasion Mr. Faisal Ahmed Mukhtar, Director Pakarab Fertilizers Limited thanked the government for its initiative in the establishment of the hospital. He highlighted the importance of the hospital in Southern Punjab which lacks good health facilities. He further added that the success and transparency of this project is very important as it will set an example for such project in the future.
Mr. Khursheed Ahmed Shah, Minister for Labor and Manpower while addressing the gathering, said that it's good to see large private organizations coming forward and helping the under privileged. He said that this project should be completed within the proposed time for which he directed the concerned departments for an immediate release of funds. He further added that the government will welcome such initiatives in future as well.
Mukhtar A. Sheikh Memorial Welfare Hospital once completed will provide free Kidney and Psychiatric treatment to all workers registered with EOBI or ESSI.
It is also important to note that this is the first Worker Welfare Board of its kind and only the fifth after the four provincial worker welfare funds.
