Financial Daily from THE HINDU group of publications
Saturday, Apr 08, 2006


Group Sites

Corporate - Alliances & Joint Ventures
Industry & Economy - Consulting

Ma Foi to team up with Karachi firm

Abhinav Ramnarayan

Plans training academies in three Pakistani cities

Chennai , April 7

The Karachi-based Human Resource Solutions International (HRSI) and Chennai-based Ma Foi Consultants will form a joint venture to set up training academies in Karachi, Lahore and Islamabad.

Mr Murad Mashooqullah, Partner, HRSI, says, "In Pakistan, HR consultancy is not a formal industry, there are no large players — but the economy is booming, like it did in India ten years ago, and we needed to look at an international tie-up to keep pace."

HRSI will look to leverage the expertise of Ma Foi in the field, instead of `reinventing the wheel'.

The company offers recruitment, payroll management and contractual employee management, and has about 40 clients in areas such as pharmaceutical, FMCG, banks, logistics and general manufacturing. Now it will look to expand its services to include the training of graduates to industry specific requirements.

Initially, the joint venture will establish three training academies, but will look to expand further, and also look to implement the franchise model that Ma Foi has in place in the Indian market.

"We are starting with the training academy because that is the need of the moment," said Mr Mashooqullah. "Guidance counselling is practically non-existent in Pakistan except at the elite institutes." But eventually, other services that Ma Foi specialises in will be utilised, such as temporary staffing.

Up to now, trade relations between Pakistan and India have not been great, he said, with severe restrictions on investment from Indian companies. But the present government has taken a lot of initiative to remove those restrictions, and pretty soon the market will be opened up, he said, and as more companies are established in the country, the need for recruitment and temporary staffing will grow.

Subsequently, with takeovers from foreign companies, the need to reorganise the structure of the firm will provide HRSI with more clients, he said, citing the example of the UAE's telecom giant Etisalat's takeover of the Pakistan Telecommunication Company Ltd. HRSI provided top-level management recruitment services for Etisalat following the takeover.

Mr Pandia Rajan, Managing Director, Ma Foi, said that his company has been interested in Pakistan, and was on the look out for a partner who shares Ma Foi's value system and understands the local economy in Pakistan. He said that the joint venture would serve as an entry point for the company.

"Pakistan as a country has a lot to offer — it is a highly liberalised economy, and has a fairly decent human capital, about 15 crore people," he said. It has some advantages over India, such as the Pakistan Chartered Accountant qualification being recognised in the US as opposed to the corresponding Indian qualification. This is something Ma Foi can take advantage of, acting as a bridge between CAs in Pakistan and the company's branch offices in the US.

He shares Mr Mashooqullah's views that there will be a big opening up of trade relations between the two countries, saying that six of Ma Foi's clients have expressed interest in investing in Pakistan.

More Stories on : Alliances & Joint Ventures | Consulting | Human Resources

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
PSL bags Rs 85-cr Oman order

Nicholas Piramal tightens grip to check Phensedyl abuse
L&T gets Chinese co order
`Tatas will dilute stake in Idea at right time, price'
Have IDRs arrived?
Sahara One to raise $50 m
Tatas go hunting on Harvard campus
Bajaj Electricals opens new unit
BAL to decide on Indonesia unit soon
Amara Raja plans expansion
Mankind Pharma's new facility in Himachal
Petronet LNG ties up finances for Dahej expansion
Clause 49: SEBI warns erring cos
Ma Foi to team up with Karachi firm
Canoro Resources to farm out interest to Brownstone Ventures
Corporate meet
Kingfisher Air may set up venture abroad
NEG Micon plans to export turbines next year
Dolphin Offshore eyes EPC contracts for growth
Chemfab promoters to trim holding to 75 pc

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line