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Summary of Project Information (SPI) |
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| Project number | 8108 |
| Project name | Systems Ltd |
| Country | Pakistan |
| Sector | Professional, Scientific and Technical Services |
| Department | Global Manufacturing & Services |
| Company name | Systems (Private) Limited |
| Environmental category | C |
| Date disclosed | April 14, 1997 |
| Status | Completed |
| Previous Events | Signed: October 16, 1997
Approved: June 17, 1997 |
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Summary Of Project Information (SPI)
| Project Name | Pakistan-Systems (Private) Limited |
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| Region | Central Asia, Middle East and North Africa |
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Project No008108
Projected Board DateMay 20, 1997
Company NameSystems (Private) Limited
Technical Partner and/or Major Shareholders
Systems (Private) Limited, established in 1977, is the first software house in Pakistan, and has been a pioneer in the IT industry in the country. The Company was formed by Aezaz Hussain, an established computer professional. Systems has a wholly owned subsidiary, Visionet Systems Inc., based in New Jersey. Over the years, Systems has offered equity participation to its professional employees who now own 87% of the Company.
Project Cost Including proposed IFC investment
Project Cost: US$4.5 million (including an IFC quasi-equity investment of US$2.5 million)
Location of project and Description of site
Systems (Private) Limited: Lahore, Pakistan
Description of Company and Purpose of Project
Since its creation, Systems has offered services that encompass computerization strategy development, software design and implementation, system integration, application reengineering and training of customer personnel for Information Technology (IT) facilities management. Among the products that the Company has designed are the Year 2000 tools to rectify the year 2000 problem and a publishing product centered on Roman, Persian and Arabic-like scripts. The Company is engaged in ongoing R&D to develop other software products. The IFC funds will be used to finance (i) the “intellectual property” of the Company i.e. to higher additional programmers to undertake contracts and (ii) computing hardware, software tools and infrastructural support including communication links and physical facilities.
Environmental Category and Issues
This project has been classified as Category “C” according to IFC’s environmental review procedure. No further environmental procedure is therefore required.
| Date SPI sent to PIC | April 14, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384 |
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