Author: admin

Pakistan (Muhammad Yasir)  In a strategic move to bolster Pakistan’s growing startup ecosystem, Telenor Velocity, Telenor Pakistan’s premier startup accelerator, has forged a powerful alliance with Invest2Innovate (i2i). By combining Telenor Pakistan’s market reach, technological infrastructure, and industry expertise with i2i’s proven track record in nurturing entrepreneurs, this partnership aims to empower startups to scale rapidly and compete on a global stage.

Pakistan’s youthful demographic, with 64% of the population under 30, presents an immense opportunity for innovation. With a population of nearly 240 million and 80% teledensity, the country boasts a vibrant startup ecosystem. However, despite this potential, 70% of startups face scaling challenges. In 2023, Pakistani startups secured $81.116 million in venture capital across 39 deals, highlighting a significant funding gap compared to regional counterparts.

Telenor Pakistan and i2i are determined to address these challenges by creating a robust ecosystem that supports entrepreneurship at every stage. Through this collaboration, Telenor Pakistan will offer i2i’s portfolio companies an array of invaluable resources. From tapping into Telenor Pakistan’s vast customer base of 44 million to gaining access to cutting-edge technology platforms, startups will receive the support needed to transform their ideas into thriving businesses. Moreover, mentorship from seasoned industry experts, comprehensive branding and marketing assistance, data-driven insights, and technological development support will equip entrepreneurs with the tools to succeed.

Areej Khan, Chief People Officer at Telenor Pakistan stated, “Pakistan is on the cusp of a digital revolution, and Telenor Pakistan is committed to being at its forefront. By joining forces with Invest2Innovate, we’re not just supporting startups; we’re investing in the future of our nation. Together, we’re creating a fertile ground for innovation to flourish, empowering young entrepreneurs to turn their dreams into reality and compete on the global stage.”

Sarah Munir, CEO of Invest2Innovate, added, “We are extremely excited to partner with Telenor Pakistan to empower the next generation of entrepreneurs. Community and collaboration are at the heart of this venture, and we are committed to providing our startups with an enabling environment and the support they require to succeed and grow.”

By combining their strengths, Telenor Pakistan and Invest2Innovate are poised to create a lasting impact on Pakistan’s startup landscape, promoting a culture of entrepreneurship and driving economic growth. This strategic alliance underscores Telenor Pakistan’s commitment to nurturing the startup ecosystem. Building upon the success of initiatives like the Startup Mentor’s Network and the partnership with GSMA’s Innovation Fund, Telenor Pakistan reaffirms its position as a catalyst for innovation in the country.

Karachi (Muhammad Yasir)

The Centre for Excellence in Journalism (CEJ) at the Institute of Business Administration (IBA), Karachi and Bank Alfalah, announced scholarships for the journalism degree program and capacity building of online content creators in financial literacy. Through a Memorandum of Agreement (MOA), Bank Alfalah will provide funding for scholarships to five students pursuing the Master of Science in Journalism (MSJ) degree at IBA for the year 2024-25 and workshops for twelve content creators on creating awareness about financial literacy.

The program aims to develop a new generation of journalists equipped with the skills to investigate and report on financial issues while empowering individuals.

Dr. Asma Hyder, Professor and Dean, School of Economics and Social Sciences (SESS), IBA said, “Journalism is important for an informed society and the strengthening of democracy. The Masters in Journalism at the SESS, IBA Karachi, equips the students with best practices in reporting, investigation, fact-checking, technology and ethics. We are proud of our competent faculty, visiting world-renowned local and international journalists, who guide students in producing well-rounded, accurate, and engaging content that informs the public and supports a vibrant, democratic society. Our alumni are successfully positioned in their careers, upholding IBA’s high standards in the professional world.”

Capacity building is crucial for journalists in Pakistan’s financial sector to ensure accurate, responsible, and impactful reporting. With the increasing complexity of financial instruments and markets, journalists need specialized knowledge to effectively understand and convey financial information. The program will sponsor five students pursuing the Master of Science in Journalism (MSJ) degree at IBA, providing them with financial assistance to complete their studies. By enhancing their skills, journalists can contribute to financial literacy, promote transparency, and hold stakeholders accountable, ultimately fostering a healthier financial ecosystem in Pakistan.

“This collaboration aligns with Bank Alfalah’s commitment to nurturing a skilled and informed workforce, while simultaneously contributing to the nation’s financial well-being,” said Madiha Javed Qureshi, Head of Corporate Communication at Bank Alfalah. “By providing scholarships to deserving students and empowering content creators through workshops, we are actively working to enhance responsible financial reporting that could not only benefit journalists but also people to make people use that information for their financial benefit.”

Additionally, CEJ-IBA will organize training sessions for twelve content creators to equip them with the skills to create engaging content about financial literacy. These trained content creators will then develop public awareness campaigns to educate the public about financial literacy and promote responsible financial practices.

Financial inclusion is critical for Pakistan’s economic growth and poverty reduction. Financial inclusion empowers individuals and businesses by providing access to formal financial services including savings, credit, and insurance. According to the World Bank, over 1.4 billion adults worldwide still lack access to bank accounts, highlighting the significant gap. In Pakistan, while progress has been made, millions remain unbanked, hindering their ability to participate fully in the economy.

This partnership will enhance journalism education, increase financial literacy among individuals, and foster a broader public awareness.

Karachi (Muhammad Yasir)

Sindh Local Government Minister, Saeed Ghani, has praised the exceptional philanthropic support extended by the industrialists of Korangi Industrial Area (KIA) in Karachi to ensure that the children of the labourers employed by them get quality school education.

The Sindh Local Government Minister expressed these remarks while speaking as the chief guest at the inauguration of the Al-Badar campus, school of the non-profit Green Crescent Trust (GCT) at the Sharifabad locality of KIA. Al-Badar campus has become the 170th charitable school of the GCT, which has been continuously striving for the past 30 years to educate children from underprivileged families in Sindh. A total of 10 GCT schools at Sharifabad and adjacent Mehran Town localities, both backward neighbourhoods mostly inhabited by labourers working at the KIA, enrol a total of over 2,222 children out of whom 60 per cent are girls. Up to 80 per cent of teachers in these schools are females. The state-of-the-art building of the new school of the GCT in the area, having an enrolment of over 350 students, was built in just five months.

The Local Government Minister praised the GCT’s charitable work in the education sector in Sindh continuing for the past three decades without a pause. He appreciated that businessmen associated with numerous industries at KIA had been generously donating to the GCT’s schools in the area to ensure quality schooling for the children mainly of the industrial workers. Ghani said the outstanding philanthropic assistance by the KIA’s concerned industrialists for the cause of education of children from underserved areas sets a healthy precedent for businessmen in the rest of the country to lend fullest support to noble charitable drives for the school education for deserving communities.  He eulogised the Korangi Association of Trade & Industry (KATI) to keep motivated its member industries to fully support philanthropic efforts aimed at benefiting the families of industrial workers. He told the audience that the provincial government valued the services of genuine charities and non-governmental organisations that had been lending full support to the noble campaign to enrol out-of-school children in the province. The Local Government Minister said that he had firsthand knowledge about the sincere efforts of non-profits like the GCT for the past many years to provide quality school education to children from disadvantaged communities. He appealed to the concerned philanthropists, businessmen, and donors to fully support such genuine charities in the education sector that had been actively partnering with the government to end illiteracy in the country.

KATI President, Syed Johar Ali Qandhari, said the concerned businessmen and industrialists of Korangi industrial estate would continue to extend fullest support to genuine charities like GCT to end the issue of illiteracy in Pakistan in the shortest possible time. He said that supporting charitable drives aimed at the provision of quality education to underprivileged children was one of the best community uplift services by Pakistani businesses.

KATI Deputy Patron-in-chief, Zubair Chhya, greeted GCT for its uninterrupted struggle for the past 30 years to build quality schooling facilities in remote and underserved areas in Sindh. He reaffirmed KATI’s fullest support to efforts by the government and concerned NGOs to enrol out-of-school children.

GCT CEO, Zahid Saeed, praised that a leading donor of his non-profit chose to remain completely anonymous to fund the building of its new school. He said the same anonymous donor through his exceptional philanthropic support ensured the education of 5,000 students enrolled in GCT schools. He expressed gratitude to the committed patrons, donors, and supporters of the GCT’s educational drive that had been massively benefiting a total of over 32,199 students enrolled in the schools of his non-profit. He said the services of GCT were always available to the concerned government authorities, NGOs, and other non-profits in the education sector, which strive to achieve the aim of enrolling out-of-school children in the country. He said that given the extraordinary support, the GCT received from the KIA’s industrialists in particular and the business community in general, his non-profit was well on track to achieve its Vision-2025 which stands for increasing its charitable schools in Sindh to over 250 having a total enrolment of 100,000 out-of-school children by end of 2025.

 

Deputy Mayor Karachi Signs Off 3-Day Pharma Asia 2024 in Karachi Collaboration is the Key for future of Pharma Industry: Deputy Mayor

Karachi (Muhammad Yasir) The three-day 21st Pharma Asia Exhibition, the premier pharmaceutical exhibition in the region, successfully concluded today at the Expo Centre in Karachi. The event, organized by E-Commerce Gateway, featured Deputy Mayor Karachi, Salman Abdullah Murad, as the chief guest, marking a significant milestone in the evolution of Pakistan’s pharmaceutical industry.

Running from August 20 – 22, Pharma Asia 2024 showcased the latest advancements and innovations, transforming the pharmaceutical landscape of the country. The event attracted over 200 companies and more than 750 booths, offering a platform for manufacturers, suppliers, traders, distributors, policymakers, and investors to converge and explore opportunities for collaboration and business development.

With participation from 15 countries, including a prominent pavilion from China, the exhibition was a bustling hub of activity and networking. The event provided unparalleled opportunities for international collaboration, making it a key highlight in the global pharmaceutical calendar.

Speaking on the success of the event, Deputy Mayor Karachi, Salman Abdullah Murad, expressed his appreciation for the enthusiastic participation of both local and international stakeholders. “Pharma Asia 2024 has demonstrated the tremendous potential of our pharmaceutical sector, and the collaboration witnessed here is a testament to the industry’s bright future in Pakistan,” he said.

Dr. Khursheed Nizam, President of E-Commerce Gateway, lauded the overwhelming response from participants. “We are thrilled to witness the enthusiastic participation and engagement from both local and international stakeholders. The 21st Pharma Asia Exhibition serves as a catalyst for driving innovation and collaboration in Pakistan’s pharma landscape,” he stated. He also extended his appreciation to the Pakistan Pharmaceutical Manufacturers’ Association (PPMA) for their unwavering support, acknowledging their critical role in championing industry standards and advocating for advancements.

The growth of Pakistan’s pharmaceutical industry has been further bolstered by the initiatives of the Special Investment Facilitation Council (SIFC), which has created a conducive environment for investment and expansion. The SIFC’s efforts have significantly contributed to the industry’s upward trajectory, attracting both local and international investments.