.: PERMISSIBLE BUSINESS ACTIVITIES:


The objects for which the Company is established are:

1. To establish works, factories and other industrial and commercial undertakings in Pakistan and in foreign countries for the manufacture, import, export, purchase, sale and other dealings of every type of Iron and Steel goods and other ferrous and non-ferrous metals of all descriptions.

2. To carry on in any part of the world all or any of the business of Engineers and Manufacturers of all kinds of implements and machinery, railway wagons, passenger carriages, locomotives, rails and other railway equipment, ships and other watercrafts, aeroplanes and their parts and accessories, automobiles, their parts and accessories, electric motors and fans, all types of engines, refractories, rolling mills, toolmakers, brass founders, metal workers, boiler makers, mill wrights, iron and steel converters, smithers, wood workers, builders, painters, metallurgists, electrical, structural and water works engineers, gas generators, framers printers, carriers and merchants and to buy, sell, manufacture, repair, convert, alter, let on hire and deal in machinery, implements, rolling stock and hardware of all kinds and to run workshops of every description.

3. To manufacture, import, buy, sell or otherwise deal in tube-well apparatuses, ploughing machines, lathers, planers, shapers, drills and other machine tools, band saws, tractors, their parts and accessories and all kinks of tools and implements and generally to carry on all kinds of agricultural industries.

4. To manufacture, maintain, run, control or work factories and workshops for the manufacture or repairing any of the machines, tools and implements.

5. To carry on the business of electric supply company and water works company and to supply any area with electric energy and with water and to sink wells tube-wells and shafts and to make, build and construct, lay down and maintain tanks, reservoirs, water works, cisterns, culverts, filter beds, main and other pipes and appliances and to execute and do all other works and things necessary or convenient for obtaining, storing, selling, delivering, measuring, distributing water or for the purposes of irrigation land, fields, farms and gardens or otherwise.

6. To buy, take on lease or otherwise acquire an interest in any movable or immovable property and to sell, give on lease, mortgage or otherwise dispose of any interest in movable or immovable property.

7. To undertake, assist and participate in financial, commercial and industrial operations and undertakings of any kind whatsoever, singly and or in connection with other persons, firms, companies and corporations in Pakistan or elsewhere.

8. To acquire control or to work as Managing Agent or Managers of any other business or company.

9. To acquire any such shares, stocks, debentures, debenture stocks, bonds, obligations or securities by original subscription, tender, purchase, exchange or otherwise and to subscribe for the same either conditionally or otherwise, and to guarantee the subscription thereof and to exercise and enforce any rights and powers conferred by or incidental to the ownership thereof.

10.To construct, improve, maintain, develop, work, manage, carry out or control any agricultural undertakings, factories, roadways, tramways,railways, branches or sidings, bridges, reservoirs, water courses, wharves, manufactories, water-house, electric works, workshops, shops. stores and other works and to contribute, subsidies or otherwise assist or take part in the contribution, improvement, maintenance, working, management and carrying out the

11.To lend money for carrying out the objects of the Company to such persons or companies and on such terms as may seem expedient and in particular to customers and employees and others having dealings with the Company and to guarantee the performance of contracts by such persons or companies.

12.To draw, make accept, endorse, discount, execute and issue bills of exchange, bills of lading, warrants, debentures and other negotiable or transferable documents or investments.

13.To enter into any agreement for sharing profits, joint adventure, reciprocal concession and other arrangement of a like nature with other persons or companies or any government or other authority and also to acquire any other business.

14.To apply for, purchase, or otherwise acquire any patients, brevets d' inventions, licenses, concessions, and the like, conferring any exclusive or non-exclusive or limited right to use or any secret or other information as to any invention.

15.To borrow or raise or secure the payment of money by the issue of debentures, debenture stocks, bonds, obligations and securities of all kinds or on personal security or without security, and to frame, constitute and secure the same as may seems expedient with full powers to make the same transferable by delivery or by instruments of transfer or otherwise, either perpetual or terminable and either redeemable or otherwise, on the undertaking of the Company or upon any specific property and rights, present and future, of the Company including its uncalled capital or otherwise howsoever, collaterally or further to secure any securities of the Company by a trust deed or any other assurance.

16.To transact or carry on all kinds of agency and contract business, and in particular in relation to industrial, manufacturing and financial transactions of every description, including the promotions of new industrial resources, the investment of money, the sale and purchase of property and to act as agents of any persons, firm, company, government and other authorities.

17.To pay for any property or rights acquired by the Company, either in cash, or by fully or partly paid shares, or by the issue of securities, or partly in one mode and partly in another, and generally on such terms as may be determined.

18.To grant pensions, allowances, gratuities, and bonuses and to provide any amenities to employees or ex employees of the Company or its predecessors in business or dependents of such persons and to support or subscribe to any charitable objects and institutions and to clubs, societies or funds.

19.To enter into partnership or arrangement in the nature of a partnership, co operation or union or interest, with any person or persons, company or corporation, government or other authority engaged or interested or about to become engaged or interested in the carrying on or conduct of any business or enterprise which the company is authorized to carry on or conduct or from which the Company would or might derive any benefit whether direct or indirect.

20.To amalgamate with any benefit whether direct or indirect.

21.To sell or dispose of the undertaking of the Company or any part thereof in such manner and for such consideration as the Company may think fit and in particular for such consideration as the Company may think fit and in particular for shares fully or partly paid up, debenture stock or securities of any other company whether promoted by the Company or not, and to improve, manage, develop, exchange, lease, dispose of, turn to account, or otherwise deal with all or any part of the property and rights of the Company.

22.To pay all the preliminary expenses of any kind and incidental to the formation and incorporation of the Company out of the funds of the Company.

23.To distribute any of the Company's properties among the members in specie or in any manner whatsoever.

24.To take part in the formation, management, subsidizing supervision or control over the business or operations of any company or undertaking and for the purpose to act as directors, trustees, administrators, managers, secretaries, or in any other capacity and to appoint and remunerate any directors, administrations, managers, or accountants or other experts or agents.

25.To give any guarantee in relation to the payment of any loan, debentures, stocks, bonds, obligations or securities and to guarantee the payment of interest thereon or of dividends of any stocks or shares of any company.

26.To constitute any trust with a view to the issue of preferred and deferred or any other special stocks and securities based on or representing any shares, trust and to settle and execute any such trusts and to issue, dispose of or hold any preferred, deferred or other special stocks or securities.

27.To subsidise or assist other companies and to guarantee the debentures of another company.

28.To cause the Company to be registered or recognized in any foreign country or place.

29.To do all or any of the above things in any part of the world either as principals, agents, trustees or otherwise, and either alone or in conjunction with others and by or through agents, sub contractors, trustees or otherwise.

30.To do all such other things as are incidental or the Company may think conductive to the attainment of the above objects or any of them.