INTERNSHIP REPORT

METCO TEXTILE (PVT) LTD

Profile
Metco Group was formed in 1971. Three well-established families came together to pool their resources and form a partnership. The group was armed with massive financial strength, extensive business experience and a solid market reputation. The three families that make up the Metco Group, jointly and equally own and manage the business affairs of the group are as follows.

The Haji Mohammed Family: One of the 5 families who owned and controlled Habib Bank Limited, the largest bank in Pakistan, and continued to be on its senior management team until nationalization in 1974. The Mohammed family wanted to diversify into commerce and industry, and wanted to form a business group away from its banking empire.

The Haji Rajabali Premjee Family: Pioneers in the steel business, who at that time owned Haydri Steel Industries. Haydri was a very well known name in the steel trade and manufactured steel bars for the local market and government projects. The Premjee family wanted to expand their steel business and thus joined up with the other members of the Metco Group.

The Haji Rahmatulla Parekh Family: A very senior banking family, who had immense respect in the banking and business community. The Pakekh family held key posts in the banking sector. They too were looking for diversification. The Parekhs, combined their strengths with the others of the Metco Group. The Metco Group, over the last three decades has enjoyed tremendous growth and has earned a reputation for integrity and professionalism. The group is well recognized and trusted among the business circles of Pakistan. The group has business affiliates/associates all over the world in the areas of shipping, commodity trading, and textiles. The Metco Group achieved a milestone in its achievements in 1997, when the Groups combined sales crossed Rs 1 Billion. Since then the Group has further expanded into several more businesses and has further increased its sales and profitability.

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Companies

Metco Shipbreakers
Metco Shipbreakers is the flagship company of the Metco Group, established in 1971 when the ship breaking industry was envisioned to help meet Pakistans growing infrastural development needs. The group set up ship demolition facilities at Gaddani beach, 50 Kms from Karachi, Pakistans largest commercial city. During the last 30 years, Pakistan has transformed it self into one of the largest shipbreaking nations of the world. Metco Shipbreakers have made substantial investments in modern technology and machinery and has captured 15% of the entire market share of the industry. Mecto Shipbreakers has a monthly breaking capacity of 25,000 metric tons. Metco Shipbreakers imports large bulk carriers and oil carriers (VLCCS) for demolition purposes .The Company has over 10 acres of beachfront property were the ship breaking activity takes place.

Zulfiqar Metals During the late 1970s Metco Group diversified into several other steel, and steel related products, and formed Zulfiqar Metals. To date the company has imported several large consignments of shredded scrap, Pig Iron and premium quality MS plates. Steel products are imported from the US, UK and CIS countries. The company due to its vast experience was awarded distribution rights/dealership of products manufactured by Pakistan Steel, the largest government steel industry. Zulfiqar Metals receives quotas of several products, including steel billets and HRC coils.

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Euro Traders
Established in 1995, Euro Traders was set up as the commodity trading arm of the Metco Group. Cement: Euro Traders started by entering the cement business, and imported several shiploads in the mid 1990s when the country faced a shortfall of cement. Rice: Euro Traders in 1997 diversified into the rice trade. A 100,000 sq feet warehousing complex was established for the storage and processing of rice. The company due to its excellent quality control systems started supplying merchants all over the world and has a capacity to offer entire shiploads of rice cargo at a time. Wheat: In 1998 Euro Traders entered the wheat trade by linking up with the Australian Wheat Board, a premium supplier of wheat, and has imported shiploads of wheat from Australia. Fertilizer: Euro Traders, in 1999, further expanded into the fertilizer business. Euro Traders has established a large dealer network and imports DAP fertilizer to Pakistan regularly and to date has imported over 100,000 tons of DAP fertilizer. Sugar: Euro Traders in 2000 yet again entered a new business, the imports of refined sugar. Euro traders mainly imports sugar from China, Thailand and Dubai, as and when there is a short fall in Pakistan, and has imported entire shiploads at a time. Cotton: In 2002 Euro Traders added raw cotton exports to its list of products. Euro Traders has several quality experts on its purchasing team and has buying agents in several countries namely, Bangladesh, Thailand and Indonesia. Pulses: Euro Traders in 2003 identified another commodity for trading by importing large consignments of pulses, since there is continuous shortfall in Pakistan. Euro Traders deals in Chick Peas, Yellow Peas and Kidney Beans.

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Metco Textile
Metco Textile is a state of the art spinning factory located in Nooriabad, 100km from Karachi. Metco Textile was established in 2004 at a cost of Rs 550 million. The company has installed brand new machines mainly from Reiter and Murata. The company has 20,000 spindles installed, equipped with the latest lab facilities for quality control of its yarn production. Metco Textile is spread over 18 acres of land with extensive warehousing facilities, it has its own captive 5.4 Mega watt power plant and 650 workers. The company is producing both weaving and hosiery yarn. Metco Textile in a short time has become a market leader for reliability, good quality and consistency. The company has buyers locally in Pakistan and overseas. Due to its almost instant success Metco Textile has finalized an expansion program costing Rs 150 million and work is underway to add 5,000 more spindles by Dec 2005, totaling Metco Textiles capacity to 25,000 spindles.

COTTON PURCHASE DEPARTMENT

Cotton purchase department is most important department in textile industry. Quality of yarn depends upon cotton that has been purchased. It becomes most important when there is business of export. There is no question of compromise on quality. Because your minor mistake may result in huge losses. Moreover you will loss your credibility. From director to cotton selectors all are involved in cotton purchase process.

PURCHASE PROCESS
The following steps are involved in the purchase of raw material i.e. cotton.

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Demand of purchase from mill

Purchase Requisition

Sample from different suppliers and quotations Sample Testing Decision-making Agreement with the Party Receiving consignment Writing delivery order for factory

InGate pass + D.O + Purchase Invoice + Purchase Requisitions are supplied to accounts
department

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VISIT OF COTTON SELECTORS

The cotton selectors of METCO visit the cotton ginning factories. Cotton selectors may visit the factories on their own behalf and some times the cotton factories call them. Their visits are very important because purchase process starts from here.

SELECTION OF SAMPLE
Samples are selected from huge amounts of cotton. Samples are taken from different suppliers. These samples are then tested. The most suitable sample at lowest price is selected for Purchase of cotton. As there is centralized management system so the Director himself takes the decision of selection and purchase of cotton. In other words Director is final authority in making decision.

STORE PURCHASE DEPARTMENT

The store purchase department is headed by Stores Incharge. The setup of purchase department is as under: Director Purchase Officer Assistant Purchase Officer Purchase Clerk The store purchase department is responsible for the purchase of items like Spare parts of machinery, store and Packing material spares, electric items, oil and lubricants, Stationery items, Building Material, and General Store.

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DOCUMENTS
DOCUMENTS USED IN PURCHASING PROCESS. Demand Requisition. Invoice of Purchase Delivery Order In Gate Pass

PROCEDURE
The following is the procedure for local purchase department. The purchase department receives the demand requisition from store in charge at store at mills this is in fact an intention or requirement of commodities at mill The purchase demand requisition contains a full detail of quality and quantity of commodities required. It also contains price detail of goods purchased previously The purchase department on the basis of indent does an inquiry for rate from at least two suppliers from approved suppliers list. After inquiry Purchase Manager discusses with Director for approval of rate and other necessary requirement. After the approval the Purchase Department purchases the items from suppliers and sent them to the mill with three copies of delivery orders In case of no rejection of items store in charge send one copy of delivery order back to the purchase department along with one copy of In Gate Pass. Store in charge also keeps a copy of delivery order and in Gate Pass for his own record. In case of rejection of items store in charge sends all copies of Delivery Orders with items back to the purchase department at Karachi Head Office of Metco Textile .

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ACCOUNTS DEPARTMENT
Accounting is the art or science of interpreting, measuring, and communicating the results of economic activities whether you are paying your phone bill, balancing your checkbook, preparing your income tax return or managing an international corporation, you are working with accounting. Accounts Manager makes the important financial decisions with consultation of Director and Chief executive of company. Record of all departments like import department, Export department, Purchase and sale department, are maintained here. So this department feels a burden of work. Accountant is very much busy person who gives instructions to six members of finance department and checks their work time-to-time .His ten-year experience has made the work easier for him. All types of tax rates, recent changes in tax policies, different codes, companies names are on his fingertips. The accounts department is responsible for the entire accounting process of the organization regarding the recording of transactions, designing the accounting policies and accounting system, preparing financial statements and computer application. If we consider a company a cell then we can say that accounts department has role of nucleus. Without accounts department there is no possibility of doing business even sight weakness on the part of accounts department can badly effect the performance of whole organization.

FUNCTIONS OF THE DEPARTMENT

Very first and an important function of accounting department is recording the business transactions on vouchers. This is also called process of vouching. This is made for internal record keeping. Auditors specifically audit vouchers. Wrong vouching will lead to error in the system and ultimately create problems. From vouchers information is recorded in daybook and cashbook. As each voucher along with its invoice, DO and other necessary documents are kept in the record room so daybook is one that can give information about parties DR and name of account CR along with amount.

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In order to see accounts in condense form ledger is used. From daybook all the entries are posted in ledger. Ledger represents DR or CR balance of each party. So from ledger we can see amount that is to be paid to a party or the amount that is to be received and the balance at the end of the month. After this all the DR balances and CR balances of all the parties are posted in trial balance. The trial balance must be equal at both sides. Otherwise there is any error in recording the transactions. Now trial balance becomes the source of profit and loss and balance sheet.This department also designs the accounting policies. All the work in this department is being take place on accrual basis. The department prepares trial balance at the end of every three months and Profit and loss accounts and balance sheet are prepared at the end of year. The financial year ends on september30 of each year.

THE SETUP OF DEPARTMENT

Chief Accountant Accountant Asst Accountant Computer Operator Cashier Record Keeper

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The accounting department is mainly divided in to following three sections: 1. Stores section 2. Salaries and Wages Section 3. General Accounting

ACCOUNTING SYSTEM
Accounting System at here is centralized and on accrual basis. All accounts are maintained in Multan head office. The process of accounting system starts from the preparation of voucher. The following are different types of vouchers prepared at Metco Textile Mills: Journal Voucher Bank Voucher Payment Voucher Credit Voucher

JOURNAL VOUCHER (JV) As accounting system is on accrual basis, so accounting entries are passed on journal voucher at first step. This is also known adjustment voucher. This is prepared for adjusting entry. Vouchers are prepared after every transaction. Accounts Manager and Director verify the voucher respectively. If they have any question they can ask relevant person if there is no enquiry then they will put their signatures on voucher. Now it is time to record these vouchers in books of accounts.

BANK VOUCHER (BV)

Bank voucher is used when any transaction is made with bank . Amount may be drawn from bank and can be deposited in bank. You can receive DR advice or CR advice from bank.

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DR ADVICE
When issued by bank, it means bank has deducted some amount from your account or when has been made through your account

CR ADVICE
When issued by bank to you, it means some amount has been added in your account .It normally takes place when some foreign remittances has been received by bank in your account. This is usually sent by your customer in foreign country to which exports has been made.

PAYMENT VOUCHER
This voucher is prepared at the time of making payments to any party. Party name is debited with the amount to which payment has been made. Payment vouchers are used for the payment up to Rs.5000. Payments more than this are made through bank

CREDIT VOUCHER
As name of voucher represents, this voucher is prepared when some amount is received from any party. In this case party name is credited by the amount that has been received.

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IMPORTANT BOOKS Cash Book Bank Book Bought Day Book Sale Day Book

CASH BOOK
In this book cash payment and cash receipt vouchers are recorded on daily basis. The vouchers are numbered serial wise and cash-closing balance is calculated on daily basis.

BANK BOOK
This book is maintained for all the bank accounts of the company. When any amount is withdrawn or deposited in the bank that amount is also recorded in the bankbook. At the end of month bank account is reconciled with the statements of the banks.

BOUGHT DAY BOOK

The bought daybook is maintained for recording the purchases made by the company. The balances from the bought daybook are entered in the relevant supplier ledgers. At the end of the month the balances from the bought day book is posted in the main ledger for control purposes

SALE DAY BOOK

In this book sale bills are entered and then posted in the customer ledger. At the end of month balances are posted in the main ledger for control purposes. When the transaction is properly recorded in the books of accounts then these balances are posted in the ledgers.

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The following are the types of ledgers maintained in this organization. Main ledger Profit &Loss Ledger Customer Ledger Supplier Ledger Staff Ledger

MAIN LEDGER
It is a control ledger, which maintain all heads of accounts from which balance sheet is prepared. All assets and liabilities accounted, profit&loss, customer, supplier and personal Ledger are maintained in it. Posting of sub ledger is made in main ledger on closing of month. From basic books like cashbook, bank book, bought daybook and sale daybook. At the end of month trial balance is prepared to check the accuracy of accounts maintained during the month by observing the debit and credit balance as they are equal or not.

PROFIT AND LOSS LEDGER

In profit and loss ledger all accounts of income and expenses are maintained .The following are the heads of accounts maintained in the profit and loss ledger: Sales Account Local Sales Export Sales Commission on sales Excise duty on yarn Export development Charges Manufacturing Expenses Administration Expenses Selling Expenses

Financial Charges
Miscellaneous Charges
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MANUFACTURING EXPENSES
They are like purchase of cotton, wages and salaries, fuel and power, insurance, repair and maintenance of plant, packing material and depreciation.

ADMINISTRATION EXPENSES
These are traveling expenses, salaries, communication expenses like fax, phone and telex, rent, electricity, entertainment, advertising, vehicleup charges, depreciation, printing and stationary expenses

SELLING EXPENSES
These include export expenses, corporate freight, ocean freight, trailer freight and local selling expenses

FINANCIAL CHARGES
They are like interest on long term loan, markup on short term finances, exchange risk coverage fee, commission on bank guarantees, letter of credit commission, excise duty on long term and short term finances.

MISCELLANEOUS CHARGES
Miscellaneous charges include auditors fee, legal and professional charges, donations, fines and penalties.

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QUALITY CONTROL MANAGEMENT

Quality Control refers to setting certain standards for production and matching production with those standards. Management of every company is specially committed to the good quality both in production and end results. The Management of Metco has been successful in creating and maintaining the quality culture in the organization. Daily quality report is sent to

headquarter and it is checked here. Sine 90 to 95 percent of production is exported; therefore, it is highly intensified. Following are the characteristics of the Yarn that are checked for the equality assurance: Weight of Fiber Length and Strength Dia Weight and Final Yarn Evenness of Yarn Relative Humidity Temperature

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EXPORT DEPARTMENT
Export department plays a vital role in any organization. Metco export department is headed by the export manager. The export manager supervises all the marketing & export activities. Export manager is also responsible for the exploration of local and foreign markets. He is also making efforts for the development and the progress of the company.

OBJECTIVES
1) To increase the Export of the Grey Fabric and yarn. 2) To maximize the company profit by increasing exports. 3) Exploration of the new markets. 4) Market research making the better information system 5) Adopting the new technological a developmental changes in the field of textile. 6) To build the image a credibility of the organization. 7) To earn foreign exchange for the progress of the economy of the country.

FUNCTIONS
Following are the main functions of the export department. Export department is responsible for the production planning and the production follow up with the mill. Customer correspondence as well Export department also follow-up the local sale and purchase of the yarn and the Grey fabric. The important function of the export department is to make shipment schedule and the planning. Visiting to the existing and new customer. Providing timely information about the production of the products to the customers which is also providing a service to its customers and promoting the company image. Improving the quality of the products with a collaboration with the buyer and the production department. Bank documents preparation and the follow-up. Preparing the custom documents Dealing with the agents and providing timely information to the parties.
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B/L follow-up with the shipping lines. Export system updation is also the responsibility of department. Preparing the quality analysis report and sending them to higher authorities. Maintaining the complete sale and purchase records

Export department is helping in improving the quality and betterment of the products and the
company.

EXPORT DOCUMENTATION
Export procedure is a very lengthy process. It involves a number of documents required by the importer from the exporter. Metco export department carefully handle all the steps involve in it. Because a little bit of mistake can cause a great loss to the exporter and the importer. i. ii. iii. iv. v. vi. vii. viii. ix. x. xi. xii. Indent Sales contract Letter of Credit Custom documents Packing list Bill of lading Bill of exchange Certificate of origin Inspection certificate Form E Form M Shipping bill

INDENT
Indent is the first export document which is send by the agents to export department. After the careful analysis of all the terms and conditions such as the quality description the selvedge, shipment date, piece length, price per unit, the packing and payments terms. It also contains the buyer name and the reference number of buyer or agent.

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SALES CONTRACT
The export department after the careful analysis of indent issues the sales contract. As they have the products and in the sales contract they confirm the terms and conditions of the indent, such as the quality, packing, payment terms, commission, shipment date and the price of the product. Issuing sales contract is the confirming the sale of the products to the buyer on the specified price. If there is changing made by the buyer or agent, so the later revised sales contract is issued by the export department. In which they can revised any thing, the shipment schedule, the price & the product specification. Export department handle carefully the steps of that procedure. Also the contract copies are sent to the agent, the buyer, the accounts and the audit department of the Metco for their record purpose.

LETTER OF CREDIT
Letter of credit is very important documents in the whole export procedure. Because without this the process could not be complete. L/C is a written instruction issued by buyers bank, authorizing the exports to draw in accordance with the terms and stimulate legal forms that bill will be honored. In the L/C all the term and the conditions are given by the buyer. What documents he needs. In the L/c there are important things mentioned there. 1. The Buyer name is there in the L/C 2. The bank of the importer is also mentioned. 3. The importer name and address is also given. 4. L/C number is mentioned on the top or the L/C 5. Issuing date of the L/c, the expiry date of the L/C, the amount of L/C, the quantity of the products. 6. The complete description of the products and the rate. 7. The terms, either CNF or CFR, 8. The shipment date is also mentioned. 9. The port is given there in L/C.
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10. The shipping line is given, so the exporter only sent the goods on that specific shipping line. 11. L/C terms are given, either it is 120 days, 90 days or sight from B/L date 12. On the L/C the rate per unit and the shipment schedule is give on what date the products would be shipped in what quantity. 13. Trans shipment or the partial shipment allowed or not is also there in the L/C 14. All the documents such as the invoices, the packing list, the certificate of origin and other inspection certificate are also mentioned as required by the importer.

TYPES OF L/C
Irrevocable or revocable Documentary or clean Un-confirmed or confirmed Sight

The exporter has to fulfill the terms mentioned in the L/C. Both the importer the exporter are bound to fulfill their obligation mentioned his L/C

TRANSPORT DOCUMENTS
The transport documents are very important because it provide the evidence that goods have been transported and it enables the importer to receive the goods from the custom authorities. As the order placed by the importer is ready on the due date, the export department issues the dispatch order to the mill. That the following quality should be dispatched on the containers specified on this L/C. The goods are loaded on the specified containers and they are sent to the Karachi port on the specified shipping line. Metco mostly does its shipment through the shipping companies. The shipping lines charge their freight and other charges are paid the agents as well as for clearance of the goods from the port. The agents handover the documents which involve packing list and invoices to the shipping lines.

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As the trailer number, the

container number E form number, quality and the quantity is

completely mentioned on this invoices. Mode By sea By Rail By Road By Air Document Bill of lading Receipt Road way bill Air way bill Carrier Shipping lines Railway service Transporters Air lines

NEGOTIABLE DOCUMENTS
In the negotiable documents the title of the good is transferred form one person to another when the existing holder produces the documents.

NON NEGOTIABLE
In the non-negotiable the title of the goods is non-transferable. In the exporting of good the number of the parties one involved. 1) The firm or the company engaged in business of transporting products, such as the track company, shipping company a airline. 2) The exporter, who is exporting the goods to the buyer. 3) The importer who is importing the goods from the seller.

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BILL OF LADING
Bill of lading is one of the most important documents in the whole export documents. Because without this the importer cannot receive their goods from the destination port. Metco first of all draft the bill of lading and that is sent to the shipping line. Bill of lading also contains the specifications related to the importer and the exporter. The name of the exporter, place, the importer, the bank, the quantity is mentioned, the quality with all the specifications required by that, the total value of the goods which are exported. The date of the bill of lading is mentioned. The shipping line and vessel name is given on B/L. B/L is a comprehensive documents that is issued by the shipping line. The date of shipment is also mentioned on that. Without this the importer cant clear the goods from the destination. Metco export department also very quick in follow up of the B/L because they have to transfer the information to the parties.

CERTIFICATE OF ORIGIN
Certificate of origin shows that the good which are being exported are originate from a country form which importer is allowed. These are required by the authorities in the importing countries. In order to satisfy and support a claim for the import duty. This certificate of origin may also be made by the consultants of the importing country in the form of consoler invoice or legalize the exporters commercial invoice. When explorer called for L/C, of is with the other documents by reference to the invoice number, L/C number and by quoting shipping marks and numbers in order to identify the goods.

PACKING LIST
Packing list is a document which involves all the complete list of the goods packed in the particular shipment. It is very important. Documents. It provides a convenience to the shipping and the clearance authorities.
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FEATURES OF PACKING LIST

1) It usually shows the marks a number mentioned on the packages. 2) It shows the weight also. 3) Each package is marked by a number. 4) It shows the contents of each package, what is nature, quality and quantity of the package. 5) It provides a linkage with the other documents to reference to the invoice number, date, letter of credit number, date and vessel name.

FORM-E
Form e is a document issued by the exporter bank. through form-e the sbp controls the overall exports of the country. the form-e declares that the export information given on the form-e are correct and will submit the duplicate and triplicate copy of this form to authorized bank. Form-E contains the following important informations. 1) Description of the goods, the quality of the goods exported. 2) The quantity of the goods. 3) The Terms of the L/C. 4) Destination of the goods. 5) The consignee bank. The importer bank name through countries the payment would be released. 6) The Invoice value of the goods in the exported. 7) The port form where the good are shipped. 8) The place from where good are cleared. 9) Date of the form E is also on this form.

CERTIFICATE OF INSPECTION
Certificate of inspection is also a important document, it is in those consignments where the importer wants to assure himself, about the shipment of the correct goods, in terms of the quality, description quantity and size. The documents should specifically identify to the goods by having

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a reference to the marks and numbers of the package and linkage to the other documents by reference to invoice number, the letter of credit number, the vessel name and the shipping line.

BILL OF EXCHANGE
It is unconditional order in writing, addressed by a person to another, signed by person giving it, requiring the person to when it is addressed to pay on demand or at a fixed determinable future date. When the L/C is opened the B/E must be strictly drawn according to the terms and conditions of the creditor may be drown on the request of the applicant or on the bank request through which the credit is opened. B/E is also a important document of export.

SHIPPING BILL
The customer clearing agents issue the shipping bill. It contains the complete information about the export bank the importer name, the exporter name, the weight of the goods, (Net and gross weight), number of packages, amount in US$, quality of the goods, the container number, the exchange rate and rupee amount.

FORM-M
It is also an important. It is used to pay the commission to the agents. Metco receive this from the agents. On this the amount of the commission is mentioned against invoices.

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SWOT ANALYSIS
STRENGTHS
Good know how about the textile business. Which is improving the progress of the company. Cheap labour is available to Metco which is reducing the per unit cost. The products are at compatible prices. Cotton is also available at cheaper rates. It has its own spinning unit and the weaving unit also. Which is reducing the cost of production. Metco has well qualified staff. Metco has a good financial resources. So they can invest in other textile related products. Metco has its better market information system. Metco has good relations with local and foreign buyers.

WEAKNESS
Delivery time is more due to this the shipment are delayed. Lack of HR resources development. Lack of promotional activities. Metco should do the more effort in promotion. There is more decentralization in Metco. Less competitive in the fine count. Our cotton fiber is Short .Which is decreasing our productivity in fiber. Non-professional attitude. Which is decreasing efficiency. Per unit cost is not decreasing .So we are less competitive in count Fiber. Metco is not exporting value added products.

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OPPORTUNITIES
Metco has opportunity to export to the U.S.A and the Europe markets. There is more scope of exporting to these markets. Govt. is also providing lot of incentives to the exporters. The decreasing interest rates on the loans. Metco has opportunity to explore new international and growth oriented markets for the exports of Fabric. Metco can play the role of agent. So they can save the commission which is paid to the agents. Metco can better the marketing techniques. The company should import the latest technology to decrease the per unit cost of the production. The company should go in dying process also. The company should make efforts to improve the technical skills of the labour and employees which will improve the overall efficiency and productivity of the organization.

THREATS
Quotas are lifting Metco will face the major threat. Metco has a threat from the domestic and the international competitors. China, Thailand and Indonesia are the emerging giants in textile. The Metco will face tough competition in domestic and international markets. Political instability is also a major threat. Govt. strict policies about the textile sector. The unreliable agriculture sector.

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Social Welfare
From the early days of Metco Groups success, the group focused on paying back to the community and the poor people of Pakistan. The Metco Group contributes generously in the areas of health care, housing and education. Partners of the Metco Group are on the committees of several welfare organizations, and have given away Rs tens of millions over the years to help alleviate the hardships of the needy. Organizations that the group currently donates to.

Al Murtaza School Askari Computer Institute Askari Welfare Trust Gulam e Abbas School Fatmia School Haydri Hostel Hussani Blood Bank Zaynabya Trust

Partners of the Metco Group are currently building a university in Karachi, when completed, estimated early 2006, will offer high quality education at subsidized rates to around 400 students. The land purchased for the university is 2,200 sq yards and construction of both a men and a women wing is underway.

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Future plans
The Metco Group in 2005 joined forces with another prestigious and large group in Pakistan and formed a company called Green Power. Green Power is owned equally by the Metco Group and the Tapal Group. The company is planning to setup a 50 Megawatt wind farm in Gharo, 75 km from Karachi. The project aims to produce badly needed electricity for the government of Pakistan, without the dependency of imported fuel and pollution. Green Power has received an LOI (letter of interest) from the government, and wind data studies are being carried out. If successful the project will be first of its kind in Pakistan. The estimated investment in the project will be in the range of Rs 4 billion.

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