Internship Report
Internship Report
LETTER OF TRANSMITTAL
Respected Sir,
Yours sincerely
Syed Bilal Hassan
Roll # BC11-340
E-Section (Morning)
Hailey College of Commerce, University of the Punjab, Lahore
Acknowledgement
First of all, Thanks to Almighty Allah for giving us strength to perform and
thank to our parents and friends for giving us support by their valuable prayers
and good wishes. It is hereby disclosed that on the demand of our college, we
made this Internship report on the topic of studying Work System of PTCL.
EXECUTIVE SUMMARY
History of PTCL
Company limited (PTCL) on June 19, 2005. On 13th march 2006 the
government has signed an agreement with Etisalat to handover the
management of PTCL to them.
Hailey College of Commerce, University of the Punjab, Lahore
Vision Statement
MISSION STATEMENT
as:
1 Professional Integrity
2 Customer Satisfaction
3 Teamwork
4 Company Loyalty
Objectives of PTCL
Objectives are the ends towards which activity is aimed. These are the results
to be achieved. Pakistan Telecommunication Company limited states its
objectives as under
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01, 2005 to April 12, 2006, the company suffered a loss of Rs.114 million on
revenues of Rs.1, 142 million. PTCL management on its part has completed
all formalities pertaining to disinvestment of TIP and transfer of shares to
Ministry of IT and Govt. of Pakistan.
Auditors
Muhammad Akhlaq Ahmad Tarar, Mr. AbdurRahim Abdulla Alnooryani Dr. Waqas Masood
Chairman Member PTCL Board Member PTCL Board
Mr. Fadhil Mohamed Erhama Al Ansari Mr. SerkanOkandan Mr. Jamal Saif
Member PTCL Board Member PTCL Board Member PTCL Board
(CEO)
TYPES
PTCL SMART TV
BROADBAND
VFONE
Vfone is the fixed wireless access network that allows customers to connect
wirelessly with the whole world. It’s easy to use and economical and you can
enjoy the wireless connectivity within your premises. PTCL is using the CDMA
2000 1Xtechnology for Vfone and the network is already enabled for Voice,
Dialup-Internet access (153.6kbps) and EVDO Broadband.
Hailey College of Commerce, University of the Punjab, Lahore
PTCL prepaid calling cards gives nationwide access with international facility.
It comes in easily affordable denominations of Rs.100, 250, 500, 1000 & 2000.
These cards are easily available throughout the country and it is easy to use it
from any PTCL digital phone. Customer has to pay neither line rent nor bill. In
November 2003 PTCL launched 100 denomination prepaid calling card with
advanced features.
BUSINESS DSL
EVO WIRLESS
PTCL is providing the new revolution of broadband i.e. PTCL Evo - the
ultimate solution for high speed internet access on the move. Just plug and
play or work at home, in the office or anywhere in between.
Due to the boom in telecom sector ISPs continue to mushroom at around the
country. UIN is a number starting with 131 used for accessing internet e.g.
13199199. UIN number is assigned to each ISP by PTA. The call dialed is
charged as one local call irrespective of its duration. Internet service in
Pakistan has constantly improved due to the technological advancements.
International Networks
Satellite Communication
PTCL has Intelsat Standard Earth stations near Karachi and Islamabad.
These installations provide the diversity for international voice connectivity and
also work as Hub for domestic satellite users. There are four Intelsat Standard
Earth stations at Islamabad, Gilgit, Skardu, and Gwadar.
Hailey College of Commerce, University of the Punjab, Lahore
SUBSIDIARIES OF PTCL
Paknet
Paknet is a fully owned subsidiary of PTCL. Technical assets and staff were
carved out of PTCL to Paknet, to help new company to meet the competitive
market. The staff, thus transferred had requisite experience and expertise in
internet and data communication field. However most of the employees have
been hired from private sector. The recently reconstituted board of directors
of Paknet comprises senior and experienced professionals nominated by
PTCL board.
In today’s changing trends in the telecom sector, all global telecom have
strong cellular networks either directly or through subsidiaries. While keeping
this in mind there was a need for PTCL to have its own cellular service. Pak
Telecom Mobile Limited (PTML), a wholly owned subsidiary of PTCL, was
created. The company commenced its operations under the brand name of
Ufone from Islamabad in January 2001 and subsequently extended its
coverage to other cities. Presently Ufone’s network covers more than 750
cities, towns and major highways of the country. During this last year Ufone
successfully completed its US $170 million phase IV network expansion
consequently the asset base of the company has increased from 20 billion to
Rs.27 billion. As for the company’s
Hailey College of Commerce, University of the Punjab, Lahore
approved business plan, Ufone was expected to close its first financial year
(ending June 30, 2001) with about 30,000 customers but
Paid up capital of the company is Rs.759753 million and turn over was
depending upon orders from PTCL, NTC, SCO and WAPDA.
UFONE
a rapid pace and established itself as one of the leading cellular service
providers in Pakistan. Ufone is now considered to be one of the most active,
aggressive and innovative players in the mobile sector of Pakistan. The
growth of the cellular industry is a direct result of the successful
implementation of the telecom deregulation and cellular mobile policy by the
Ministry of IT and Telecommunications (MOIT&T) and the support, guidance
and timely enforcement of regulatory process by the Pakistan
Telecommunication Authority (PTA).
Structure of organization
All the staff is recruited by the HR Department headed by SEVP HR. The HR
experts are responsible for hiring & to further streamline its recruitment
process.
Hailey College of Commerce, University of the Punjab, Lahore
Organizational Chart
Hailey College of Commerce, University of the Punjab, Lahore
Benefits
DEPARTMENTS OF PTCL
Finance department
Finance
Accounts
Revenue
The Finance Wing deals with the revenue matters of the company & the
Accounts Wing is responsible for proper book–keeping of the financial
transactions, commercial audit & preparation of periodic accounts of the
company. The Accounts Office of PTCL is in Lahore.
Commercial Department
It analyzes all the possible Company options, i.e. introducing new services,
adopting new technologies to maintain the leading role in the sector and
preserve its dominant position in the industry.
The Company likes to reiterate that it will continue to play a prominent role
in Telecom sector of Pakistan.
It considers that one of the most important aspects of the forthcoming
competitive environment is pricing of products and services.
The new paradigm would require cost-based services with thin-profit
margins but higher volumes. Inherently, PTCL services were not cost-
based. There were in-built subsidies and long distance calls, both domestic
and international, were highly priced. The Company, therefore, evolved
strategies of gradual price rationalization
Operational Department
Technical Department
IT Department
COMPETITORS OF PTCL
Mobilink
Telenor
Warid Tel
Zong
MOBILINK
TELENOR
WARID TEL
NEW COMPETITORS
Other than mobile & land line PTCL is facing competition in F.W.T (Fixed
Wireless Telephone) product market. Below are the major competitors.
Telecard 501,680
World Call 468,335
This has added competition for PTCL (1,245,639) in WLL (Wireless local
Loop) field.
Hailey College of Commerce, University of the Punjab, Lahore
Revenue Department
General Manager
Finance
Senior
manager R&C
CANTT
Hailey College of Commerce, University of the Punjab, Lahore
Billing section
Billing section
In which they have different traffic provided to the customer and accordingly
provided to the traffic the bills has generate. They have different traffics
provided to the customer as following:
RMS console
They have different steps of process in which they have following as:
Arrears console
Hailey College of Commerce, University of the Punjab, Lahore
Inquiry console
Miscellaneous
Recovery console
1) Arrears console
Block history
Block history
In which any facilities to give the customer to international calls and close due
to ay reasons may be nonpayment or may be defaulter and no payment of bill
for 2 month so block the facilities. They have different cases as following:
Terminate
2) Inquiry console
In which different history check to the customer and different aspect in which
include:
Debit/credit inquiry
3) Miscellaneous
4) Recovery console
Bill payment
Installment apply
Bill payment
In which duplicate for check billing. Customers are paid the bill or not
Installments apply
In which broadband, IPTV and different other connection are there to provide
the customer and option to paid the bill in installment if bill payment is more
than 10000.
If most bill print is together than this command will received at one time 100
bills together printed
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E-Reporting system
User id
Password
Ceiling limit
In which different number of unit PTCL are giving to the employee rank
wise for different ceiling
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Billing report
CCS report
Defaulter report
DSL report
Miscellaneous report
OSS report
Pre-invoiced billing
Billing report
Every query how much generates bill for DSL and how much number are
attained. They have different points giving as follow:
Overseas detail
Billing reconciliation
Daily registration
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Incentive report
Defaulter report
List of defaulter
DSL report
OSS report
Retention working
Win back
Retention working
In which dial telephone to the customer and resolve the issues. 100 telephone
dial on the daily biases of internship and write down the problem and issues of
the customer and also ask the customer why is not paying the bill.
Win back
Hailey College of Commerce, University of the Punjab, Lahore
In which who’s customers not pay the bill and going on defaulter sides than
revenue and collection department contact the customer and insist the
customer to pay the bill and who’s customer agree so that is win back and if
not pay so they become defaulter.
In which to resolve the issue for lower level. If any customer complaint for bill
point of view any case may be attached more bill and customer no use so they
have limit to relief for 1000 Rs.
They are two member are sitting who’s are making decision
Revenue
Business manager
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In which they have same procedure of above committee but the relief amount
is 5000
BM, SBM, GM
In which also customer complaint and this is last and highest authority firstly
main headquarter in Islamabad but now it is situated in Lahore
In data processing section to check the overall billing procedure they have
different region to distribute the bill in different areas as following:
North
Hailey College of Commerce, University of the Punjab, Lahore
South
Division of bills
TCS
GPO
TCS
PTCL contract the TCS for printing the bills and distribution and PTCL paid the
amount TCS. If bill will not delivered to the customer properly than deduct the
amount of TCS.
Printed bills
TCS in north way 144000 bills printed and in South way 110000 bills
printed
PSTN mean land line and the month of May2014 PSTN given to the PTCL
150 million
DSL mean broadband and the month of May 2014 DSL given to the PTCL
127 million
The bank scroll and stubs are the part of bill if we see the bills the above
portion and below portion are there in bill. When the customer paid the bill the
above portion are back to the customer and below portion are there in bank
and some banks process the bill and send to the main PTCL head office and
some bank don’t process than send to the knift institute and then proceed and
send the scroll and stubs in PTCL head office
Hailey College of Commerce, University of the Punjab, Lahore
FINANCE DEPARTMENT
Departmental Hierarchy:
Payable department of PTCL has the hierarchy where three Assistant
Managers are under the subordination of a Finance Manager that directly
reports to its senior manager. Following the practical diagram of hierarchy
Assistant Manager – (Finance) - (Income Tax, WHT, Cash Imprest,
Voucher Placement)
Assistant Manager (Acting Manager) – (Financial Analyst) Pre-Audit
Assistant Manager – (Accounts) (Parking & Posting and Cheque
Printing)
Cashier (Allotment of VR & JV Number, Cheque Dispatching, Record
Keeping)
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Stepwise Procedures
Now we will analyze each procedure of the cycle individually, where first is Bill
Receiving:
Parking in SAP
Scrutiny of Bills
Posting of Voucher
Cheque Printing
The last step for payment process is cheque printing process which has
further 3 more procedure to do it with automation:
Hailey College of Commerce, University of the Punjab, Lahore
Blank cheques are inserted in printer for printing with complete serial
Printing done through login ID of payment user
T code used for cheque printing
stamping of cheque printing authorities done after its printing
Once the cheques are signed, the last two procedures are
followed,
Checking and verifying particulars cheques with the voucher
Signing of cheques counter slip
Cheque along with voucher send to SM Finance for signing as a first
authority
Signing of cheque from second signatory
Separation of cheque from voucher for dispatch
Where the dispatch of all cheques is done follows these steps:
Printing of envelope
Handing over the cheque envelope to the representative of TCS within
days of the receipt of the bill
Updating of Incoming Invoice Register by entering cheque number
against each bill
Voucher stamped as PAID
Voucher sends for binding.
Hailey College of Commerce, University of the Punjab, Lahore
Financial Analysis
INDEX ANALYSIS
2014 2013
Note Rs ‘000 Rs ‘000
Equity
Liabilities
Non-current liabilities
Long term security deposits 7 549,256 529,358
Deferred income tax 8 2,676,026 3,749,739
Employees’ retirement benefits 9 33,011,258 33,050,773
Deferred government grants 10 6,848,180 5,123,099
43,084,720 42,452,969
Current liabilities
Trade and other payables 11 44,345,349 38,583,250
2014 2013
Note Rs ‘000 Rs ‘000
Assets
Non-current assets
Fixed assets
Property, plant and equipment 13 94,452,061 87,219,249
Intangible assets 14 4,826,422 5,157,172
99,278,483 92,376,421
Current assets
Stores, spares and loose tools 18 2,872,542 3,675,314
Trade debts 19 15,758,805 18,596,301
Loans and advances 20 4,136,133 6,541,852
Investment in finance lease 17 28,305 12,927
Accrued interest 21 344,801 667,024
Recoverable from tax authorities 22 16,366,457 15,586,424
Receivable from the Government of Pakistan 23 2,164,072 2,164,072
Prepayments and other receivables 24 4,994,327 910,116
Short term investments 25 18,441,389 22,405,669
Cash and bank balances 26 4,518,546 4,358,261
69,625,377 74,917,960
2014 2013
Note Rs ‘000 Rs ‘000
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED DECEMBER 31, 2014
2014 2013
Rs ‘000 Rs ‘000
2014 2013
Note Rs ‘000 Rs ‘000
Cash and cash equivalents at the beginning of the year 26,763,930 13,947,547
Cash and cash equivalents at the end of the year 38 10,959,935 26,763,930
Hailey College of Commerce, University of the Punjab, Lahore
(Rupees in ‘000)
Balance as at January 01, 2013 37,740,000 13,260,000 2,678,728 30,500,000 12,498,296 51,789 96,728,813
Ratio Analysis
Liquidity Analysis
Liquidity ratios measure the ability to meet current liability with current asset
i.e. payment of short-term obligations. The ratio holds different meaning for
creditor and owners of the firm. For owner high liquidity means inefficiency of
the firm. For owner high liquidity means inefficiency of the management, while
high liquidity of the firm is considered favorable by the creditors as they see
that the firm can pay their obligations. Following are the most common types
of liquidity ratios used by analysts to determine the liquidity of the firm.
Current ratio
2014 2013
Interpretations
Current Ratio
2.5
1.5
1 1.94
1.57
0.5
0
2014 2013
Quick Ratio
Quick ratio shows the ability of the firm that how quickly it can pay its liabilities
without taking into account the inventory and prepaid expense of the firm,
Hailey College of Commerce, University of the Punjab, Lahore
which are least liquid portion of the current assets. Liquidity means the ability
of an
2014 2013
Table Quick Quick Assets 66752835 71242646 Ratio Over
Time (Rs. in Current Liabilities 44345349 38583250 thousand)
Interpretation
The quick ratio of the firm is almost to current ratio of the firm as it has
decreased from 2005 onward but still it is encouraging, shows that the firm is
liquid enough to pay its liabilities at short notice but this trend of increasing is
favorable for short term creditors of the firm. This ratio has been affected by
the huge amount of dividend declared by the company. The company can
easily improve the ratio by reducing the dividend in the future but they have to
consider overall situation i.e. investor’s interest, creditor’s interest etc.
Hailey College of Commerce, University of the Punjab, Lahore
Quick Ratio
2
1.8
1.6
1.4
1.2
1
1.85
0.8
1.51
0.6
0.4
0.2
0
2014 2013
ACTIVITY ANALYSIS
Activity ratios measure the operational efficiency of the firm by looking into the
moments of total assets. These ratios tell us with how much efficiency the firm
has in employing its total assets to generate sales and with what frequency
current assets of the firm are turned into cash7. These ratios highlight the
activities of the firm throughout the year. Following are some commonly used
ratios to determine the activities of PTCL.
This ratio provides insight of the quality of the firm’s receivables and how
successful the firm is in its collection. In short it tells the number of times
receivables into annual net credit sales.
Hailey College of Commerce, University of the Punjab, Lahore
2014 2013
Total Revenue 81512598 81061355
Receivables 2164072 2164072
Ratio 37.67 37.46
Interpretation
The higher the ratio, the shorter will be the time between the typical sales and
cash collection. The trend analysis shows that turn over ratio is increased in
2014. In the year 2014 receivable turnover ratio are 37.67 shows that PTCL is
turning its receivables into cash more than thirty seven times in a financial
year.
37.65
37.6
37.55
37.5 37.67
37.45
37.4 37.46
37.35
2014 2013
2014 2013
Interpretation
The ratio is very high in 2014 because the accounts payables are very low in
2014 as compared to that of 2013 which has shown an increase in the ratio.
Accounts payable is denominator in the formula and results a very huge
effect.
Hailey College of Commerce, University of the Punjab, Lahore
290
285
280
275
270 292
265
260
266
255
250
2014 2013
This ratio determines how effectively the firm is managing its inventory. It is
calculated as cost of goods sold divided by inventory. In the case of PTCL we
will put operating cost.
2014 2013
Cost of 55682723 53073952
services
Inventory 2872542 3675314
Ratio 19.38 14.44
Hailey College of Commerce, University of the Punjab, Lahore
Interpretation
Inventory turnover ratio was 14.44 in 2013 but increased to 19.38 in 2014.
However PTCL has shown good performance in 2014 by controlling inventory
turnover.
20
15
10 19.38
14.44
5
0
2014 2013
The total assets turnover indicates the efficiency with which the firm uses its
assets to generates sales.
Total assets turnover = sales / total assets
Hailey College of Commerce, University of the Punjab, Lahore
2014 2013
Revenue 81512598 81061355
Total Assets 179573660 181908478
Ratio 0.45 0.44
Interpretation
This means the Company turns over its assets 0.45 in 2014 and in 2013 is
0.44.
0.45
0.448
0.446
0.444
0.442 0.45
0.44
0.438
0.44
0.436
0.434
2014 2013
Hailey College of Commerce, University of the Punjab, Lahore
Debt Ratios
Debt Ratio
Debt ratio measures the proportion of total asset financed by the firm
creditors. Debt ratio = total liabilities/ total assets
2014 2013
Total liabilities 87430070 81036219
Total Assets 179573660 181908478
Ratio 0.48 0.44
Interpretation
The higher this ratio the greater the firms degree of indebtness and the more
financial leverage it has.
Hailey College of Commerce, University of the Punjab, Lahore
debt ratio
0.49
0.48
0.47
0.46
0.45 0.48
0.44
0.43 0.44
0.42
2014 2013
Times interest earned ratio measure the firm ability to make contractual
interest payment. Times interest earned ratio = EBIT / Interest
2014 2013
EBIT 8011529 19837637
Interest 295193 346477
Hailey College of Commerce, University of the Punjab, Lahore
Interpretation
A high ratio suggests that the company would have little difficulty meeting the
interest payments on its loans. Conversely , a low ratio is an indication that the
company is overextended in its debts . Although low to moderate levels of
debt can boost a company’s financial performance.
60
50
40
30 58.26
20
28.14
10
0
2014 2013
Hailey College of Commerce, University of the Punjab, Lahore
Profitability Ratios
Ratios that relate profits to sales and investment are called profitability ratios8.
It is of two type i.e. profitability in relation to sale & profitability in relation to
investment.
It is calculated gross profit divided by net sales. This ratio tells about the profit
of the firm and is also a measure of the ability of the firm’s operation.
2014 2013
Revenue 81512598 81061355
Gross profit 25829875 27987403
Ratio 92.29% 34.52%
Interpretation
The ratio calculated 92.29% in 2014, 34.52% in 2013 indicating that PTCL is
effective in producing and selling product and services well above the cost.
This trend of decrease in the GP margin is because of decrease in revenue
and because of increase in operating cost. Decrease in revenue is because of
Hailey College of Commerce, University of the Punjab, Lahore
90
80
70
60
50
92.29
40
30
20
34.52
10
0
2014 2013
preferred stock dividends are deducted; the “pure profits” earned on each
sales dollar.
Operating Profit Margin = Operating Profits/ Sales
2014 2013
Revenue 81512598 81061355
Operating profit 4507563 15969824
Ratio 5.52% 19.70%
Interpretation
The Operating Profit Margin Ratio is better because the ratio calculated 5.52%
in 2014, 19.70% in 2013 is effective.
20
15
10 19.7
5.52
0
2014 2013
Hailey College of Commerce, University of the Punjab, Lahore
Net Profit Margin measures the percentage of each sales dollar remaining
after all costs and expenses including interest , taxes and preferred stock
dividends have been deducted.
2014 2013
Revenue 81512598 81061355
Net profit 5207494 12696133
Ratio 6.4% 15.66%
Interpretation
For PTCL in 2014, 6 paisa out of every sales of Rs.1 constitutes after tax profit
where as in 2013 it was 15paisa. The net profit margin is a commonly cited
measure of the firms success with respect to earning on sales.
Hailey College of Commerce, University of the Punjab, Lahore
16.00%
14.00%
12.00%
10.00%
8.00% 15.66%
6.00%
4.00%
6.40%
2.00%
0.00%
2014 2013
2014 2013
Share Capital 5100000 51000000
Net profit 5207494 12696133
Ratio 1.02 2.49
Interpretation
Hailey College of Commerce, University of the Punjab, Lahore
The earning per ratio in 2014 is 1.02 and in 2013 is 2.49 because net profit in
2013 is more
2.5
It is calculated as net profit after taxes divided by total assets. This ratio shows
the percentage income generated on per rupee investment.
Interpretation
4
6.97
3
2
2.89
1
0
2014 2013
Hailey College of Commerce, University of the Punjab, Lahore
Return on common Equity measures the return earned on the common stock
holders’ investment on the firm.
Interpretation
In 2013 ROE was 12.58% and in 2014 it is 5.65%. The trend is negative and
decreasing continuously. The debt ratio is not too high which means that there
are strong investment opportunities. And there is effective expense
management but
2014 2013 PTCL will have
to Net profit 5207494 12696133 control its
Shareholder’s equity 92143591 100872259 decreasing trend
of Ratio 5.65% 12.58% ROE.
Hailey College of Commerce, University of the Punjab, Lahore
Return on Equity
14
12
10
6 12.58
4
5.65
2
0
2014 2013
SWOT ANALYSIS
STRENGTHS
WEAKNESSES
OPPORTUNITY
Hailey College of Commerce, University of the Punjab, Lahore
THREATS
Strong competitors
New cellular companies
Internet USB offers by different mobile company such as Telenor and
Mobilink
Effect on Market Share Due To Competition
Internet offers by different mobile company is another threat to the DSL
Service by PTCL
CONCLUSION
No doubt PTCL is enjoying monopoly but the time is came when competition
will force company to change its policies to become favorite telecom service
provider in the market & keep its current place & customer base.
The company maintains a leading position in Pakistan as an infrastructure
provider toothier telecom operators and corporate customers of the country. It
has the potential to be an instrumental agent in Pakistan’s economic growth.
PTCL has laid an optical fibre access network in the major Politian centres of
Hailey College of Commerce, University of the Punjab, Lahore
Pakistan and local loop services have started to be modernized and upgraded
from copper to an optical network on the long side and international
infrastructure side, the capacity of two SEA-MEWE.
Submarine cable is being expanded to meet the increasing demand of
international traffic PTCL should immediately change its finance upper level of
hierarchy and should streamline in the good manner. PTCL encourage the
billing online system that each and every customer has to pay his/her bill
online basis.
The system of E-payment which although exist in PTCL finance system but
there is need of improvement facility.
The image of PTCL being leading Telecom providing is not good in the eyes
of common customer especially there are lot of complaints about the including
the bogus local calls in the monthly bills of various customers. PTCL also
provide the detail of local calls made from and land line number which would
be provided in micro level to the customer. Faulty telephone connection fault
free within 24 hours in order to maximize the revenue, as revenue of PTCL
should sacrifice at the cost of faulty Telephone. PTCL should make customer
care centres in remote areas.
Recommendations
career planning of employee that not only sharpens the skills of the
employee & improve its efficiency but also results in better and
improved output for the organization.
Existing system is not up to the slandered and must be replacing with an
efficient one.
A comprehensive financial information system is required to be
streamlined, so that availability of accurate data records may be
insured.
All the tool of enforcement of strict financial discipline may be under taken
in order to monitor the whole system.
All the records should be computerized and for this purpose special
computer program should be used.
Employees should be equipped with up to date IT skills and for this
purpose refresher & training courses should be designed.
The officer may be trained to adopt company culture soft-spoken, good
relations with customers and target oriented.
Finance and marketing offices and engineers may be sending to
international seminars/ workshops to get knowledge of new technique
and procedures.
Bibliography