Pakistan Industrial Credit and Investment Corporation (Picic) has planned to launch "Vision-2010" to accomplish the mission as a real financial supermarket. This was stated by the Managing Director Picic, Muhammad Ali Khoja while talking to visiting participants of human resource management course by National Institute of Public Administration (Nipa).
He said that Picic had earlier completed Vision-2005 ahead of scheduled period adding leasing commercial bank, asset management company to its fold. He said that Picic vision has been derived from the vision of Quaid-e-Azam Muhammad Ali Jinnah for Pakistan. He said that Picic asset management company will soon launch two open-end funds, the initial public offering of Picic Stock Fund (PSF) will be first, followed by Picic Debt Fund.
Khoja said that PMCL has accumulated reserves of Rs 11 billion and so far paid Rs 6.6 billion to certificate holders while its net assets surged to Rs 18.4 billion by June 2006.-PR