We write with reference to M. Ihsan Azad's letter published in your esteemed newspaper on 14th April, 2006. In reply, we would like to mention that the Right Allotment Letters (RALs) of PICIC Growth Fund (PGF) were despatched through a reputable courier service 'Speedex'.
Subsequently, the company through a public notice published in the Business Recorder as well as in an Urdu newspaper on 23rd March, 2006, informed the certificate holders about the despatch of RALs of PGF. Certificate holders entitled to right certificates, who do not receive the RALs within one week from the date of the notice, were requested to notify the company enabling to issue the duplicate RALs.
Thereafter, the Registrar of PGF received a few complaints and arranged issuance of duplicate RALs to them. In view of the above, the charge of M. Ihsan about using some deliberate tactics to make the RALs unavailable appears to be based on some misunderstanding.
Inspite of our best efforts, if any of our valued certificate holder has not received the RALs so far, he is requested to contact Syed Sultan Mehdi on telephone numbers 2422568/2470734/2414220-39 (Ext. 2113) or e-mail on contact@picic.com.
We are also setting up a 'facilitation desk' at the Registrar's office, 5th Floor, State Life Building No 1, I.I. Chundrigar Road, Karachi, to entertain the complaints of the certificate holders, if any about the RALs, from 9:00 am to 5:00 pm (on working days) and resolve their complaints expeditiously.