Islamabad got a good healthy dose of rock as Entity Paradigm, Jal, Call and many other bands performed on 13th march 2004 at the opening of the Open Air Theater in the scenic “Shakarpariyan”.

The event was organized by Dream Weaver Productions (known for the highly acclaimed murder mystery musical “8 women” performed at Al Hamra Lahore in December 2003) and the Capital Development Authority. Tickets were affordable at rupees 500 a piece.

Fans poured in to experience the glory of their best-loved bands. The event was extroverted, but sadly there were some moments of disappointment owing to lots of sound problems and technical shortcomings during the performances.

Rezz Aly, an eminent event manager from Isloo needs no introduction. Graduated as a lawyer, also did MBA in marketing Rezz worked a few years in completely diverse fields but ended up as an even manager, something which he thinks he is meant to be. Today Rezz’s mere name spells success in event management. Pick up any mega event in the capital, and chances are it is being headed by him.

What is on your mind?
How to get hold of new clients and or organize a new event or a fashion show…

Pop music is rapidly taking over the Pakistani music scene, despite the moral brigade and diktats of the clergy. “Pop, along with soft rock, is growing in popularity. It has developed in a very short span of time and shows more promise than even Indian pop music,” claims Saadia, 19, a student of business studies. Most of the songs are in Urdu set to western music. There is a lot of talent coming here. Music experts say there are about 15 established music bands and a dozen pop music stars in Pakistan today.

A far cry, all agree, from the early 1980s, when during President Zia-ul-Haq’s regime, listening to or creating pop music was aggressively discouraged. However, after the Music ‘89 show, aired on the government-owned Pakistan Television (PTV), who was also the official sponsors, things appeared to change. At the show, 30-somethings danced to the music of the then pop idols - Nazia and Zoheb Hassan, Ali Azmat and bands like the Vital Signs.

Don’t get surprised if you spot the most stunning model of the town at the modest interior of PIVIC Saddar arguing at the absence of Roshan Ara Begum rather than rocking in frenzy at some lazy number of Beyonce Knowles at a trendy elite party. The popular Nawab Sultan of Umrao Jaan Ada, IMRAN ABBAS in person too seems to belong more to the oriental Moghul era with a refined sense of aesthetics rather than today. Don’t get surprised; just reaffirm your faith in the age old maxim that appearances are deceptive.

Recently rock bands from Lahore Jaal, [eP] and Visaal performed in Isloo in a concert arranged by Melange, the Elite club. It was arranged in NIC Auditorium in Blue Area. Fans really enjoyed performance of their favorite bands but much appreciated was [eP]. With Spring and SAF games around the corner, we look forward for more concerts in Islamabad.

ISLAMABAD (January 18 2003) : The Hub Power Company (Hubco) is unlikely to announce interim dividend for the shareholders in its half-yearly board meeting to be held in a couple of weeks, sources close to Chief Executive, Hubco, Vince Harris, told Business Recorder. They said that the company has also decided to deliver the benefit of loan rescheduling with the National Bank of Pakistan to the Water and Power Development Authority (Wapda), rather than stakeholders. When contacted Sardar Yusuf Khan, a Hubco spokesman, confirmed that dividend would not be announced in the half yearly meeting. However, he added that the company would announce dividend in a subsequent meeting. On Friday, Harris was in the federal capital to address the Board of Directors of Islamabad Stock Exchange (ISE) where he spelled out the problems in re-negotiation of loans with the international lenders. Regarding rescheduling of international loans, he said that Hubco was started in a period when there were not too many regulations other than Companies Ordinance. According to the Project Co-ordination Agreement (PCA) signed with the lenders many covenants were very restricted. There was a definite schedule with specified dates and amounts to pay in dollars in 30 years; that schedule dictates the dates and amounts for the payments. In the meantime, a lot has happened in Pakistan. “But now we have a problem as a month has been allowed to report on sixth month annual accounts,” he said, adding that “now if we go to the lenders for reduction in lending rates, the lenders would not be ready to slash them.” So, he said, “the problem is that we have to have more board meetings than the original plan and, in fact, now we cannot show that we have a board meeting to pitching with work and early in the last month.” He said: “I do not want to make a big issue here but we have very formal contracts with the lenders several years ago and their re-negotiations require money and time to deliberate the issue with 49 lenders.” He surmised that Japanese lenders would not be ready to hear such a thing. He said that under the Power Purchase Agreement (PPA) with Wapda, there are many items “which we call isolated items” and certainly the financing part is pass through. “The Wapda chairman and the Ministry of Finance have a good understanding of the issue as we had gone through a lot of efforts last year to reduce interest rate on the loans” keeping in view that it was a burden on Wapda. “Shareholders do not derive any benefit, and anything I can say is that they could derive only confidence of knowing that they are delighted customers,” he added. He praised Wapda Chairman Lieutenant General Zulfiqar Ali Khan (Retd) for extending all-out support at a time when Hubco’s transformer was damaged and the former said that the utility’s every facility was at his disposal. “General Zulfiqar and I myself also discussed the Hubco contract after which we have good relationship, understanding and support and credit goes to Wapda,” he said. Harris said that Pakistan has improved its position for foreign investment and improvement in the stock exchange was a real proof. He further said that power tariff would be reduced by one-third after two-and-a-half years when senior debt would have been repaid to the lenders. Replying to a question, Harris said that the government has no right to charge Rs 802 million from Hubco as ‘first fill’, as this amount has to be paid by Water and Power Development Authority. “Hubco will neither pay the amount, nor it has received any directive from the government,” Harris clarified. He said that the stock market of Pakistan was performing well on its fundamentals and there is a ray of hope that it will become still better in future because the overall conditions of law and order in the country have improved. He applauded the economic policies of the government and said all credit goes to President Pervez Musharraf who, with his dedication, has improved the governance in the country. He said, “Now we are hopeful that the overall conditions in Pakistan are investor-friendly and foreign investors are being urged to invest in Pakistan”. He said that Hubco is the largest power project listed on the stock exchange. Pakistan was lacking foreign investment, which has now quite improved during the last three years. In his address, ISE Chairman Chaudhry Muhammad Sharif thanked Vince for sparing time to visit the ISE. He said that in a short span of 10 years, ISE had become a vibrant, efficient and stable market. The chairman said that the ISE has planned to start a series of initiatives to educate the investors. Appreciating the Hubco, the ISE chairman said that it is a jewel of the stock markets of Pakistan. PPI ADDS: A board meeting of Hub Power Company, which runs biggest private sector 1292MW power project in Hub, Balochistan, is due in early February and the company would be advising Karachi Stock Exchange in accordance with the Listing Rules. A press release issued by Hubco in Karachi on Friday said the principal business of this meeting will be to approve the second quarter results for December 31, 2002, which are required to be published before the end of February. The agenda is being finalised. “In accordance with our agreements with lenders the Board will only be able to declare a dividend with lenders approval, if given, at a subsequent meeting to be held in March or April,” it stated.