Organization # 2

PAKISTAN TELEVISSION
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RESEARCHERS’ SUBMISSION

A report submitted to Ms.Tehmina Khan in partial fulfillment of the requirement for the course
principles of management.

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EXECUTIVE SUMMARY
The Pakistan Television Corporation is Pakistan's national television broadcaster. The first live
transmission of PTV began on November 26, 1964, in Lahore. The PTV family includes six
channels. Originally broadcast in black and white, PTV began color transmission in 1976. With
this new upgrade in techniques and equipment, the Pakistan Television Academy was founded
and opened in 1987 to teach students who wished to work in the medium. The broader
perspective to start electronic media in the country was to inform and educate the people through
wholesome entertainment and to inculcate in them a greater awareness of their own history,
heritage, current problems and development as well as knowledge of the world at large. In
fulfillment of its broad and main objectives, PTV's telecast policy concerning various matters of
national and international interests has always been motivated and guided by the cardinal
principles of educating viewers about the values that are vitally important in building a united,
integrated and disciplined society. These objectives have successfully been achieved through a
variety of programs on religion, education, entertainment and culture.

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ACKNOWLEGDMENT
We would like to express our gratitude to Mr. Fakhar Hameed, Director IT , and Mr. Rehan
Ansari, manager department human resource management, for the help that they extended to us
during the course of this research project.

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CONTENTS
CHAPTER 1:................................................................................................................................................35
INTRODUCTION.........................................................................................................................................35
CHAPTER 2:................................................................................................................................................39
ORGANIZATIONAL CULTURE & ENVIORNMENT.........................................................................................39
CHAPTER 3:................................................................................................................................................42
ORGANIZATIONAL PLANING, GOALS &......................................................................................................42
OBJECTIVE SETTING...................................................................................................................................42
CHAPTER 4:................................................................................................................................................45
ORGANIZATIONAL STRUCTURE & DESIGN.................................................................................................45
CHAPTER 5:................................................................................................................................................47
MOTIVATION TECHNIQUES & TOOLS........................................................................................................47
CHAPTER 6:................................................................................................................................................48
CONTROL MECHANISMS...........................................................................................................................48
CONCLUSION.............................................................................................................................................52

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CHAPTER 1:

INTRODUCTION
The original logo of PTV was designed by Chughtai and later redesigned by another creative
supremo Shahzad Nawaz Khan. The new logo of PTV was designed to represent the
contemporary artists movement in the country. Shahzad Nawaz Khan managed to change the
entire look of PTV through his skills and brought about a change that was much needed for the
channel.

Pakistan entered into Television Broadcasting age with a small pilot TV Station established at
Lahore, from where transmission was first beamed in Black & White with effect from 26
November 1964. The main objectives for establishing a public service commercial television in
Pakistan were:

i) Providing television broadcasting services by telecasting programmes of all kinds,

news pictorials and documentaries local and foreign films of all kinds and nature for the
purpose of disseminating information, education and entertainment.

ii) Carrying out instructions of the Government of Pakistan with regard to general pattern
or policies of programmes, announcements, news, etc.

iii) To carry on the business of commercial advertisement by selling programmes and

advertising time of television stations either directly or through advertising agencies or by
setting up advertising agencies or by other means.

While introducing the sophisticated branch of the electronic media in the country, the broad
perspective kept in mind was to inform and educate the people through wholesome entertainment
and to inculcate in them a greater awareness of their own history, heritage, current problems and
development as well as knowledge of the world at large.

PTV is a Public Limited Company registered under companies ordinance 1984. Its affairs are
managed by a Board of Directors appointed by the Government of Pakistan. The Board is headed
by the Secretary, Ministry of Information and Broadcasting, who is the ex-officio Chairman of
the Corporation.

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The Managing Director of the Corporation, duly appointed by the Government of Pakistan and
approved by the Board of Directors of the Corporation, is the Administrative and Executive
Head of the Corporation. He is the competent authority to implement rules for the Corporation
and its employees.

The Managing Director is assisted by eleven working Directors in the administrative, financial &
operation functions/activities of the Corporation in their Divisions.

The Administrative Heads of the Centres duly appointed by the Managing Director are
designated as General Manager and empower to exercise all administrative powers over their
respective units. The Controller Administration & Personnel and Controller Marketing are the
Administrative Head of the PTV-Headquarters Unit Islamabad and Central Sales Office Karachi
respectively.

PTV has a network of Rebroadcast Stations having 78 transmitters for terrestrial coverage. Each
of these Rebroadcast Stations is headed by an Engineer Incharge. The population covered by
four PTV Channels, PTV-1, PTV-World, PTV-National and PTV-Bolan with 24 hours
transmission is 87% of the total population of the country.

1.2 DEVELOPMENT
Rapidly growing into a modern TV network, PTV introduced via satellite transmission in
December 1972. It was during the year 1975 that PTV started using National Microwave Link of
the T&T Department linking transmissions of its TV Centers with each other. As a further step
towards modernization, PTV transmission was switched over from Black and White to Color in
December 1976. PTV established the Second TV Channel for Education, which was formally
inaugurated on 26 November 1992. PTV World launched its transmission from ETV-Centre
Islamabad in 1998. It was during the year 2000 that PTV started the transmission of Channel-3
on STN. PTV launched the new channel “PTV National” on 12.06.2003 for telecasting of
program in regional languages. PTV launched AJK TV Centre Muzzaffarabad on 05.02.2004.
Pilot services of “PTV Bolan” started from TV Centre Quetta on 14.08.2005.

1.3 ADMINISTRATION & PERSONNEL DIVISION

The Administration & Personnel Division is responsible for implementation of the Corporation’s
policies pertaining to its sphere. The broad functions of this Division are to provide logistic and
general administrative services and to provide and maintain the necessary manpower for other
Divisions. Administration & Personnel Division consists of the following Departments: -

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Administration Department Responsible for formulation and implementation of Administrative

policies, co-ordination with Centres, overseeing administrative services throughout the
Corporation and to deal with the legal matters instituted for and against PTV in various Courts of
Law. This Department is also entrusted to deal with the Union matters. Personnel Department
Responsible for formulation and implementation of personnel polices, overseeing personnel
functioning all over the Corporation, manpower planning including recruitment, promotion,
transfer etc. Training and Delegation Department Responsible for training of staff within the

country and abroad, dealing with the delegations, sending PTV coverage teams

abroad for VVIP coverages. Security Department Responsible for security arrangements of

men and material. Company Secretariat Responsible to deal with corporate affairs,

preparation of agenda for meeting, to arrange meetings of the BOD, to record &

circulated the minutes of BOD and to ensure implementation of the policies

approved by the BOD. Admin. & Personnel Division of the Corporation is headed by the
I)irector Administration & Personnel who is assisted by a Controller Administration &
Personnel. The Controller has two Deputy Controllers and one Manager Training & Delegations
with other subordinate staff for implementation of the administrative and personnel functions. At
Centre’s level Administrative & Personnel Managers are responsible to look after the
administrative and personnel needs of the Centres under the supervision of the General Manager.

In order to achieve the goals and targets identified by the Ministry of I&B, on the instructions of
the Prime Minister, the Admin. & Personnel Division initiated a process for induction of
qualified professionals in the field of Production, News, Current Affairs, Information
Technology, Marketing, Engineering and Human Resource. The Board of Directors of Pakistan
Television Corporation had also approved induction of fresh and experienced professional in its
l63’’ meeting held on 26.10.2004.

In pursuant to policy approved by the Board of Directors and the Secretary Information &
Broadcasting, various positions for induction of professionals were displayed on the website of
PTV and also advertised in the Urdu/English daily newspapers. In the first instance 12 qualified
professionals were inducted in the targeted 1st quarter of 2004-2005. Through continuing
process, 208 professionals/trainees in the fields of Production, News, Current Affairs,
Information Technology, Marketing, Engineering and Human Resource have been inducted upto
2nd quarter of 2005-2006. The process for induction of some more qualified professionals is
under going and hopefully it will be completed in 4t) quarter of 2005-2006.

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Going further into the induction of qualified professionals the BOD resolved in its 166th meeting
held on 5th September, 2005 that a data base shall be maintained on PTV website after giving
advertisement in the newspapers so that required Human Resource could be picked up from that
data base as and when required. The first data base has been maintained for a period of 6 months.

Besides the induction of qualified professionals, the Management of PTV has restructured its
Programmes, News and Current Affairs Department. Programmes Division has been bifurcated
into Planning/Administration and Event Management while the News & Current Affairs
Division has been merged to achieve the optimum level of excellence. This target has also been
completed in 2nd quarter of 2005-2006.

1.4 FINANCE DIVISION

PTV is a public limited company with an authorized capital of Rs.3,000.00 million and a paid-up
capital of Rs. 1529/- million, including bonus shares of Rs.643 .705 million, issued by PTV to
Government out of its profits. Entire share capital is held by the Government of Pakistan.

Financing structure of PTV, laid down in the PC-I Form and duly approved by ECNEC in May
1974, explicitly provided the financing of capital cost and payment of operating deficit of
commercially non-viable projects by the Government and also for payment of time utilized for
the projection of Government.

Finance Division comprises Accounts Department which performs implementation of

administrative orders, Financial Control Department which is entrusted with function of

financial policies, financial control and the Revenue Department deals with collection of
Revenue through licences etc.

Finance Division of PTV is headed by the Director Finance who is assisted by Controllers,
Deputy Controllers, Asstt: Controllers, Accounts Officers and other staff in the lower chain.

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CHAPTER 2:

ORGANIZATIONAL CULTURE & ENVIORNMENT

PTV has state-of-the-art newsroom computer system designed to meet the challenges of today's
dynamic news environment. PTV uses terrestrial coverage for broadcasting. A powerful and
comprehensive news production system, it can be customized for use by everyone - from small
news channels with just one broadcast a day, to 24-hour, multi-channel news networks. It grasps
and connects all the elements of news operations. Newsgathering, feeds, wires, scripts,
rundowns, archives, contacts, video browser, on air schedules, personal work spaces, staffing and
much more created and formatted to meet individual requirements

2.1 SOCIAL ENVIORNMENT

PTV has coverage over different countries. And it is viewed by people of the sub continent living
in all of these areas. PTV is a family channel, supports those program which are comfortable in
every environment. It also primarily targets the youth as its technology and overall outlook is
energetic and shows a responsibility for being the generation next of Pakistani channels. PTV
gives a social environment which is likely to create a feeling of solidarity amongst its members,
who are more likely to keep together, trust and help one another. Members of the same social
environment will often think in similar styles and patterns even when their conclusions differ.
The media channels play a vital role in development of a country. It provides the prime services
that an economy needs for rapid growth, development and modernization. As the economy
grows, demands for improvement in media sources. The module of communication and media
studies is crucial to everybody on this earth. For instance, technology is growing amazingly fast
these days. People may only consider studying aspects related to technology. Media has the
purpose of getting people more up-to-date. Not only does it have the above academic functions,
but also its main role is to entertain people on earth. Without it, this world would be back to the
uncivilized stage. Communication and media studies get us to understand more about the all-
rounded life of human. Media and communication provide the common factors for human being
to be united and cohesive. The environment of PTV comprises of the moves and the strategies
adopted by its competitors. It also takes into account the changes in the general economy and
other socio-cultural factors. It is imperative for the PTV to precisely study the opportunities and
threats prevalent in its external environment.

2.2 ATTENTION TO DETAILS

All Organizations have their own culture. Some give more attention n some not. Somebody said
that:
“The magic behind every outstanding performance is
always found in the smallest of details."

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Many people downplay small details, dismissing them as minutia-the "small stuff," that we're
encouraged to ignore. But, in fact, our whole environment is simply an accumulation of tiny
details. Some jobs need people who can handle both the small and large parts of a task. Such
individuals won't overlook what needs to be done and can be depended on to do each task
accurately and completely.PTV is such a corporation where the work or the task of the project is
the main priority. They are just interested in the work, they have no concern how they perform
it .they don’t interrupt during the process of work. They just asked for desired work on the day it
is required. Other factors or things are not much valued.

2.3 PEOPLE ORIENTED

In PTV, the jobs and roles of every employee are well-defined. They all are cleared about there
status accurately. They are told how to deal with people, paying attention to all aspects, however
small, of a given task. They are trained to use there time in an efficient manner. They should
make more from the given time. The employees are also explained that how to meet new people,
conduct business/friendships with them. PTV has its proper rules and regulations, whoever is
part of this corporation, has to follow in true approach. High educations and experiences are not
important.PTV welcomes broad-minded, open, observant, active, thoughtful, teachable and
selfless people who like to give their skills, energy, time, services and possible donations.

2.4 RISK TAKING AND INNOVATION

PTV is seems very reluctant to search for new talent as compared to other channels. There is no
talent hunt for PTV unlike other channels.

There is a lot of innovation and work done in the computer department .Paper less environment
is ensured. The automation of staff salaries, TV license accounting system, PTV program archive
information system, current affairs Information System, PTV –News Information and Reference
System, Engineering Inventory Control System and PTV Commercial Time and Cost Analysis
Database is implemented.

PTV BOLAN is styled as BOLAN for Baluchistan was launched by the Prime Minister. This
channel has been instrumental in blunting the propaganda and disinformation.

2 .5 PEOPLE ALLOCATION
PTVs affairs are managed by Board Of Directors. The Board is headed be Secretary, Ministry of
Information and broadcasting.

The managing director of the corporation , duly appointed by Govt. of Pakistan and approved by
Board of directors, is the administrative and executive head of the corporation.

The managing director is assisted by eleven working Directors in administrative, financial &
operation functions/activities of the corporation in their divisions.

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The administrative heads of the centre duly appointed by the managing directors and designated
as General Manager ad empower to exercise all administrative powers over their respective
units .The controller administration and personnel and Controller marketing are the
administrative head of the PTV-Headquarters Unit Islamabad and Central Sales Office Karachi
respectively.

2.6 RESOURCE ALLOCATION

PTV is a public limited company with an authorized capital of Rs3,000 million and a paid –up
capital of Rs. 1529/- million , including bonus shares of Rs 643.705 millions issued by PTV to
Government out of its profits .

The income and expenses as on December 2005 and December 2004 are drawn here under.

Income Dec2005(millions) Dec2004(millions)

Advertisement 925 918
License Fee 1,069 739
Other Income 58 68
Total Income 2,052 1,725
Total Expenditure 1,873 1,640
Net Profit /Loss 179 85

2.7 OUTCOME ORIENTATION

PTV is partially outcome oriented.

PTV holds profit of Rs. 1529/- million , including bonus shares of Rs 643.705 millions issued by
PTV to Government out of its profits .

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CHAPTER 3:

ORGANIZATIONAL PLANING, GOALS &

OBJECTIVE SETTING
3.1 PLANING
PTV is planning to launch its channels abroad like PTV –Global for the projection of Pakistan in
other countries. PTV will also get substantial business of commercial advertisement and its due
share from the cable operators of that particular country. DTH is yet another venue open to PTV
which can be materialized to generate more revenue. PTV is planning to launch an independent
sports channel which will be liked by the viewers and will generate more revenue. PTV is trying
to project state policies, development schemes, politico-economic events and socio-cultural
activities. Through proper planning PTV can raise the general level of common sense of the
masses and inculcate them a great awareness of their own history and heritage.

3.2 GOALS & OBJECTIVES

Recognizing that in a country like Pakistan where literacy is low, electronic media
communication could be best made through Regional Language Programmes, Regional
languages, which instantly touch the vernacular and indigenous instincts of every individual,
regional language programmes have always been the high point in PTV’s programme mix, soon
after the inception of Pakistan Television. Ever since, there has been gradual but constant
progress towards their betterment and improvement. Starting with segments in Punjabi and later
Sindhi, PTV Added programme segments in Siraiki, Pushto, Hindko, Balochi and Brahvi as
Peshawar and Quetta Centre came on air in 1974. PTV has always been reached out to viewers
all over the country and with Programmes which address their concernsand aspirations and
allocated sizable chunk of its transmission time to Regional Language programmes.

3.3 THE CHRONOLOGY FOR REGIONAL CHANNELS

a) PTV NATIONAL
In keeping with the spirit of Regional Language Programmes and rapid developments in the
electronic media sector, the Government desired that PTV set up a Channel exclusively catering
only to regional languages of the country and in compliance, PTV National was launched by the

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Prime Minister on 12th June, 2003 allocating equal time to the four Provinces. Although most of
the programmes initially were often old repeats, the channel evoked a very positive response.

b) FOUR INDEPENDENT CHANNELS

Encouraged by this development and recognizing that messages of cohesion and tolerance were
necessitated by the circumstances and best communicated in one’s own language, the
Government and PTV Authorities directed that four individual Channels be set up in the
Provincial Languages, so that these channels provide an excellent platform to highlight the
diversity and richness of cultures and heritage abounding the Pakistani landscape. It would also
help establishing a variegated identity of the nation on the global canvas with electronic signals
transcending all borders.

c) PTV BOLAN
The first of the four channels styled as “BOLAN” for Balochistan was launched by the Prime
Minister on the independence Day the 14th August, 2005, which has also been instrumental in
blunting the propaganda and disinformation. This has added another positive dimension to the
regional language Channels.

3.4 PREPAREDNESS
PTV has made extensive preparations both technical and programming for the launching of three
new Regional Channels i.e. PTV Mehran (Sindh), PTV-Abaseen (NWFP), PTV Punjnad
(Punjab).

Regional Language Programming started initially with half hour and increased to one hour. Now
being extended with the inception of new channels to eight hours with twice repeat. Quantum of
news bulletins have also been increased from five minutes to ten minutes and thrice a day.
Regional Language programmes are telecast with Urdu subtitling. Efforts are underway for
dubbing. Regional Languages channels are depending on the software produced by the Centres.

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CHAPTER 4:

ORGANIZATIONAL STRUCTURE & DESIGN

Organizational structure refers to the way that an organization arranges people and jobs so that
its work can be performed and its goals can be met. When a work group is very small and face-
to-face communication is frequent, formal structure may be unnecessary, but in a larger
organization decisions have to be made about the delegation of various tasks. Thus, procedures
are established that assign responsibilities for various functions. It is these decisions that
determine the organizational structure.

In an organization of any size or complexity, employees' responsibilities typically are defined by

what they do, who they report to, and for managers, who reports to them. Over time these
definitions are assigned to positions in the organization rather than to specific individuals.

The best organizational structure for any organization depends on many factors including the
work it does; its size in terms of employees, revenue, and the geographic dispersion of its
facilities; and the range of its businesses.

PTV’s organization structure is more Mechanistic in nature. PTV have clear, well-defined,
centralized, vertical hierarchies of command, authority, and control. Efficiency and predictability
are emphasized through specialization, standardization, and formalization. This results in rigidly
defined jobs, technologies, and processes. This suggests that organizational structures, processes,
and roles are like a machine in which each part of the organization does what it is designed to do,
but little else.

PTV’s justify for having mechanistic structure because they believe their abilities to achieve the
purpose the purpose of their existence can be achieved more efficiently and effectively. PTV
utilizes to increase efficiency when tasks and technologies are relatively stable. The vice-
president of PTV employee such production processes and techniques that minimize waste and
maximize outputs for a given quantity of inputs. The goal of PTV is ‘Quality and Efficiency.’

PTV’s structure is highly formalized, which simply means that nearly all processes and
procedures have been administratively authorized. The organization considers processes and
procedures out-side these established protocols as variances that must be brought under control.
Such formalization is driven by efficiency; reduction in variance increases predictability, and
increases in predictability allow for improvements in efficiency.

Environmental and technological stability allow work to be clearly defined and differentiated.
The work of the PTV is divided into specific, precise tasks. Created from one or more such
specific tasks, specialized job positions rigidly define skills needed, task methodology and

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procedures to be used, and specific responsibilities and authority. In effect, lower-level managers
and other employees simply follow procedures, and while this may have the side effect of stifling
creativity, it also increases efficiency of established processes. In stable environments, however,
stifling creativity may be worth the improvements in efficiency.

Specialization carries throughout this organization. Positions are grouped together into
specialized work units and, ultimately, into specialized functional departments such as
production, marketing, or finance. Each organizational unit has clear and specific responsibilities
and objectives. Communication is primarily vertical, with more emphasis on down-ward
directives than on upward communication. Thus, such matters as goals, strategies, policies, and
procedures are determined by top-level management and communicated downward as
instructions and decisions to be implemented.

Upward communication usually involves transmittal of reports and other information for
management to consider, usually at the request of management. Coordination is maintained
through the chain of command.

However, employees sometimes feels that specialized tasks are repetitive and can sometimes be
boring and monotonous, and they need to break this monotony. Personnel selection, assignment,
and promotion are based on the possession of skills required for specific tasks. Other people, like
interchangeable parts of a machine, can replace people in a position.

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CHAPTER 5:

MOTIVATION TECHNIQUES & TOOLS

As we know PTV is highly aware of how to motivate its employees in the best way. This can be
judged by the enthusiasm and good spirit that people show in performing their jobs. There is a
well-devised system that PTV follows for the purpose of motivation. It includes both financial
and non-financial rewards along with the major Motivators and Dissatisfies. The company
recognizes the importance of making people drive towards their goals and the basic step towards
this is made through recognizing the value of importance that the company gives to its
employees. PTV has a set of financial rewards, medical, dental, vision and life insurance,
retirement plan, paid vacation days, family and work life balance benefits and profit sharing
plan, Annual bonus opportunities, company cars etc.
Other ways in which employees are motivated are:
Employee Consultation for:
 Everyday residence issues (remodeling, repairs, house-sitting, etc.).
 Legal matters.
 Financial issues
 Education and schooling.
 Parent and child care.
 Resources for seniors and eldercare issues
 Emergency dependent-care reimbursement.
 Adoption assistance.
Employees are safe in knowing that they will be rewarded for any exceptional work. This reward
is not only monetary. It is accompanied by the employee being given recognition and greater
empowerment. Employees are given a very beautiful and healthy work environment. Special
attention is given to make the physical environment most productive. This is why PTV offices
are considered to be the most well decorated and organized. As we know PTV has a desire to
promote the high achievers from within the company. Positions are given on merit and are
transparent and fair in nature. There is no special treatment. Therefore each employee knows that
he can aim for the top and actually get there. This has proved to be a great source of motivation
for the employees of PTV.

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CHAPTER 6:

CONTROL MECHANISMS
Control mechanisms are important to every organization. Without them, it would be difficult to
determine whether or not the planning, organizing and leading functions of management are
effective and productive for the company. Although some mechanisms are used widely
throughout many organizations and companies, some mechanisms are tailored to fit a specific
organization. Management must determine the most appropriate control mechanisms for their
company.

PTV keep track of every process with different types of spreadsheets, reports, and statements
which either proves the organization is working well or show where things are distributed to the
different managers for their review. Managers confirm that timetables are being adhered to and
that projects are being completed in a timely manner. These time reports not only identify
amounts of costs and time used to complete these projects, but also help management establish
budgets for the coming year. Overall, the use of these controls is understood and accepted by all
employees. Each employee realizes the need for these mechanisms and strives to operate within
the proper guidelines. There are times when employees' hours or costs are over budget, and
management must delve into the reasons surrounding the circumstance.

6.1 Framework of Risk Management

The key point that PTV focus is the framework of risk management policies and procedures and
management controls overseen by the board of directors or equivalent management body of the
firm should specifically cover derivatives activity, clearly establish responsibility for its
implementation, and provide for accurate, informative and timely reporting to management. This
framework should be communicated to all concerned and should be reviewed as business and
market circumstances change.

The PTV's board of directors or other equivalent body establish and communicate risk
management policies and procedures for derivatives activities that integrated with the PTV's
overall management policies. Such policies and procedures should address the measurement of
market risk and credit risk including aggregate exposures against risk tolerance objectives
(position limits or capital at risk); acceptability criteria for counterparties, strategies and products
(hedging, covered writing, risk management, position taking and related legal risks); risk
monitoring procedures and exception reporting criteria; personnel policies (including expertise,
training and compensation policies); the separation of trading and risk management functions;

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and the establishment of management controls and checks over accounts, traders, operational
staff and systems.

The PTV’s main focus is that framework provide for two-way communication between the
board and persons responsible for implementing board policies.

Delineation of derivatives authority should be without prejudice to ultimate board supervisory

responsibility

Controls address stress scenarios, confidence levels, credit assumptions and market risk
measurement methodologies, separation of back office, accounting and compliance functions
from trading, risk policies and integration of accounting systems. Stress tests test the
consequences of severe price moves and changes in market behavior, including changes in
correlations and other risk assumptions.

6.2 Independent Market Risk Management

Management controls provide for independent market risk management at the PTV to develop
and monitor the application of risk limit policies, to review and approve valuation systems .

6.3 Independent Credit Risk Management

Management controls provide for independent credit risk management at the PTV to consider
credit exposure measurement standards, set and monitor credit limits, and to review leverage,
concentration and risk reduction arrangements.

Appetite for risk, quality of credits, level of concentration, reliance on credit enhancements,
measurement methodologies and separation of sales supervision from exposure supervision are
subject to controls. Controls also address the risk of failure to deliver or of termination
provisions, as appropriate.

6.4 In-House Expertise and Resources

In view of the speed of evolution and complexity of derivatives products, PTV devote adequate
resources to all aspects of risk management controls, including back office systems and
accounting and supervision. PTV makes every effort to ensure that knowledge at all levels of the
firm, and of traders and risk managers is adequate in terms of market developments for the
appropriate assessment and management of risks.

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6.5 Risk Reduction Techniques

PTV use appropriate risk reduction techniques such as master agreements, netting arrangements,
collateralization of transactions and third party credit enhancements, including letters of credit
and guarantees. Firms also should consider risk reduction techniques to address operations risk,
including contingency planning.

Controls address credit enhancements in terms of exposure and explore the use of master
agreements to reduce documentation risk and to increase the potential to assign and/or otherwise
unwind transactions. Legal capacity of counterparties to transact and legality of netting
arrangements should be evaluated.

6.6 Valuations and Exposures

PTV on both an entity and a group basis should have the capability to make accurate risk
valuations daily, using an acceptable methodology to mark-to-market and to identify
concentrations. Potential exposures to credit and market risk should also be calculated using
appropriate methodologies. Exposures may be aggregated provided netting arrangements are
acceptable and enforceable.

Arrangements are made to value dynamic portfolios sufficiently frequently to address exposures
taking into account legal netting arrangements. Outputs of simulations should be tested against
actual results and adjusted accordingly.

6.7 Systems
PTV's accounting, risk management and information systems ensure adequate and timely
documenting, processing, confirming, approving as appropriate, and reconciling of trades and
valuation systems used by front and back offices; assessing of risk on a global (firm-wide) basis;
accurate and timely reporting to management; and external reporting by management. Internal or
external independent systems reviews are used to verify that such systems are operating as
designed.

The complexity and dynamic nature of derivatives trading activity and portfolios require that
accurate and timely information is always available. Systems must are kept constantly under
review to be certain that they permit tracking and reporting financial performance and
effectuating management policies. Significant deficiencies in the design or operation of the
systems that could adversely affect the entity's ability to record, process, summarize, and report
financial data should be reported upon. This is not intended to define the scope of external
financial audits.

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6.7 Liquidity, Funding Arrangements and Financial Performance

PTV monitors on a continuing basis financial performance, including profit and loss, funding
requirements and sources and cash flows.

Risk management personnel take account of revenues and the adequacy of funding
arrangements in designing and implementing risk management strategies. Do Liquidity planning
attempt to anticipate changes in cash flow or funding requirements and should accommodate the
possible need to rebalance portfolios, augment collateral, and permit the management of defaults.

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CHAPTER 7:

CONCLUSION
The very idea of a channel dedicated to the regional languages of a country, present infinite
opportunities of programming and its presentation, which calls for innovation, and a systematic
plan and strategy. We must create events by way of festivals based on our rural culture, customs
and tradition, folklore and classical literature. In a world given over to diversity, this channel can
make an imprint amongst the galaxy of available channels, as a truly Pakistani Channel, and has
the potential of creating and maintaining its own identity. The challenge of any new enterprise, is
to survive in a competitive world. Apologies of any kind whether pertaining to lack of resources
or other limitations, will have no justification, and nothing short of commitment, inspiration and
creativity will make the channel worth its while. There are exclusive language channels already
on-air with some more coming up. We not only have to improve the quality of programming
contents in each language, but also gear up to match exclusivity.

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