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Karachi (Muhammad Yasir)

Industrialists demanded the security, law and order
authorities to arrest the killers behind the assassination of
industrialists and students within 72 hours, otherwise, they will
initiate a movement of protest, sit, and strike until the peace is
restored in the city.

In a press conference held on Wednesday at the secretariate of Federal
B Area Trade and Industries (FBATI), representatives of seven
industrial zones expressed their anger at the lawlessness situation of
the city, which recently claimed the lives of 78 residents, including
industrialist Asif Bilwani, and gold medalist students.

They have decided to hold dialogues with IG Sindh and DG Rangers on
security measures immediately and plan to approach Chief of Army Staff
General Asim Munir if the lawlessness issue is not resolved in
Karachi.

President Federal B Area Trade and Industries (FBATI) Syed Raza
Hussain said that the poor law and order situation has taken a toll on
the city’s economic activities, leading to the closure of businesses
and the flight of capital to different countries.

He demanded that police personnel be removed from the protocol duties
of bureaucrats and politicians and deputed to protect citizens of the
city, contributing handsome revenues to the national exchequer.

The project of Safe City has yet to be commenced in the commercial
capital despite various cities have established this project to
control security challenges, he said and added. If police can’t
maintain law and order in the city, Rangers should be given the power
to control street crimes and lawlessness in Karachi like it was done
in the past.

CEO FITE Development and Management Company Babar Khan said the local
representation had been reduced in local police, which resulted in a
lack of interest in curbing street crime in the city.

He alleged that police officials are supporting street crimes and
organized criminal activities in Karachi, however, key officials such
as IG Sindh and DG Rangers are not taking any action against them.

The industrialists and businessmen in Karachi are already facing
multiple challenges of high cost of production and unavailability of
utilities, the bad security situation is adding to their miseries as
industrialists and their workers are not secure from the atrocities of
street criminals and decoits.

Faisal Moiz Khan, President North Karachi Association of Trade and
Industries (NKATI) demanded that industrialists vow to take up the
issue with higher authorities if the security situation is not
improved in the city, including industrial zones.

He added that industrialists are expecting a concrete security plan
from law and order authorities that will ensure peace across the city;
otherwise, they will launch a protest campaign against the concerned
departments.

Muhammad Kamran Arbi, President, SITE Association of Industries,
Muslim S Mohemadi, Vice President, Korangi Association of Trade and
Industries, Shaheen Serwana, President SITE Superhighway Association,
Naveed Shakoor, Former President, Bin Qasim Association of Industries
also spoke on the occasion.

Pakistan (Muhammad Yasir)

As the country prepares for the joyous Eid-ul-Adha festivities, Daraz, Pakistan’s leading online marketplace, is giving more reasons to celebrate with its highly anticipated “6.6 Big Eid Sale”. This exciting campaign, running from June 6 to 12, promises the best prices, mega vouchers worth PKR 20 crore, free delivery, discounts of up to 75% and further bank discounts of 10%. These offers ensure that customers can fulfill all their Eid shopping needs from the comfort of their homes.

The “6.6 Big Eid Sale” presents the best opportunity for savings and convenience, including Free Delivery on orders placed through exclusive vouchers up for grabs via the homepage. Shoppers can take advantage of exclusive Mega Deals up to 60% off on over 2 million products, spanning various categories, such as Fashion, Beauty, Groceries, Mobiles, Cooling & Heating Appliances, and more. To further enhance the Eid festivities, there are special offers on Kitchen & Dining products, BBQ Utensils, and Qurbani Essentials.

Daraz remains committed to its promise of the Best Price Guaranteed by expanding its assortment to 200,000 items during 6.6 under this offering. This extensive range ensures that every customer finds exactly what they need at the best possible price*, making Eid shopping an enjoyable and cost-effective experience. Furthermore, for the duration of the campaign, the moneyback on products under the Best Price Guaranteed tag has been increased to 5X instead of usual 2X.

“We are thrilled to launch the ‘6.6 Big Eid Sale’ and bring incredible value to our customers during this festive season. Our goal is to make Eid shopping as convenient and enjoyable as possible, with unbeatable discounts, a wide range of products, and the assurance of the best prices. We hope our customers take full advantage of these offers and have a joyous and prosperous Eid, “stated Arusha Imtiaz, Chief Commercial Officer at Daraz Pakistan.

Don’t miss out on the “6.6 Big Eid Sale” at Daraz, where you can enjoy unparalleled savings and the convenience of online shopping during this festive season. For more information, check out the Daraz Pakistan’s Facebook page, or browse the Daraz app.

 

Karachi (Muhammad Yasir)

Pakistan Banks’ Association (PBA), in partnership with the International Finance Corporation (IFC), arranged a workshop on the benefits of green, resilient real estate investment, attended by participants from over 25 banks operating in Pakistan. A key area of focus was cooling for buildings, an area especially relevant to Pakistan given recent heat waves.

IFC, a member of the World Bank Group, is a leader in investing and advising on green building practices globally. The workshop included sessions on the commercial value of green buildings for developers, the financial benefits for investors, and case studies highlighting the business case for green buildings across sectors including residential, offices, warehousing, and hospitals.

The workshop enabled participatory banks to expand their capacity to support green real estate projects in the country, which should help foster long-term economic stability and growth.

In addition, it addressed cooling options for green buildings, which is pertinent given that Pakistan has the fifth highest demand for cooling in the world. This included options for participants to leverage IFC’s recently launched Sustainable Cooling Initiative.

Commenting on the occasion, Ahmed Bozai, Vice President – Pakistan Banks’ Association said, “PBA’s partnership with the IFC in green real estate investment exemplifies our joint commitment to sustainability. This collaboration aims to identify potential solutions and investment avenues towards fostering a low-carbon economy, reflecting our dedication to creating a sustainable environment for our communities.”

 Participants also learned about other IFC programs supporting green building practices including two innovative free tools: IFC’s Excellence in Design for Greater Efficiency (EDGE), a green building certification system focused on making buildings resource-efficient, and the Building Resilience Index, an online hazard-mapping and resilience assessment framework. IFC’s Market Accelerator for Green Construction (MAGC) program provides concessional finance and technical training to partner banks.

“The combination of IFC’s advice and financing provides great investment potential for banks in Pakistan,” said Naz Khan, IFC’s Principal Country Officer for Pakistan. “Local banks can access green finance and create a new asset class in Pakistan, while reducing harmful emissions and lowering costs for their customers. We believe these programs are beneficial for banks, developers, consumers, businesses, and the government.”

According to the World Bank Group’s Country Climate and Development Report for Pakistan, energy efficient buildings represent a $5.5 billion investment opportunity until 2050, as well as reducing emissions and costs, and creating a more resilient building stock to mitigate climate change shocks.

IFC has invested and mobilized almost $14 billion in green building finance, of which over $4 billion flowed through local financial institutions. IFC’s EDGE green buildings platform has additionally enabled over $81 billion in green buildings finance.  

Lahore (Nut Desk)

On World Environment Day, CBD Punjab reaffirms its dedication to protecting and preserving the environment through a series of impactful initiatives. As the only LEED-certified project in Pakistan, CBD Punjab is setting new benchmarks for sustainable development in the region. Among its notable environmental efforts, CBD Punjab has successfully replanted trees with a remarkable 100% growth rate, showcasing their commitment to enhancing green cover and biodiversity. Additionally, around 20,000 plants have been planted near Kalma Chowk and in CBD Punjab Lahore Prime Quaid District, significantly contributing to the city’s green infrastructure. CBD Punjab has also dedicated 70% of its area to green spaces, ensuring a healthier, more sustainable environment for the community. In a bid to conserve water resources, the project has constructed rainwater harvesting tanks, supporting water conservation and helping manage urban runoff and mitigate flood risks. Furthermore, CBD Punjab has planted a Miyawaki forest in the CBD Punjab Bab District and developed special green spaces in Pakistan’s first and biggest IT city, CBD NSIT City. This year’s World Environment Day theme, ‘land restoration, desertification, and drought resilience,’ resonates strongly with CBD Punjab’s mission. Imran Amin, CEO of CBD Punjab, emphasized the project’s commitment, stating, “At CBD Punjab, we believe that sustainable development is not just an option but a responsibility. Our initiatives reflect our commitment to environmental stewardship and our dedication to creating a greener, more sustainable future for Pakistan. As we celebrate World Environment Day, we are proud to lead by example and demonstrate that economic growth and environmental preservation can go hand in hand.” CBD Punjab’s LEED certification underscores its adherence to global standards for sustainability and environmental performance, highlighting the project’s innovative approach to integrating eco-friendly practices into urban development. As part of the World Environment Day celebrations, CBD Punjab encourages the community to join hands in their efforts to protect the environment. By working together, we can ensure a cleaner, greener, and more sustainable future for generations to come.

Partnership with The Business Year explores key themes shaping the industry

Dubai – UAE (Muhammad Yasir)   Real consumer spending in the UAE is projected to increase by 5% year over year – one of the highest rates globally, according to the Mastercard East Arabia Division’s Special Report, “Towards a Connected Future: Innovation Fueling Transformation”.

Developed in partnership with The Business Year, the report explores the impact of digital transformation across the financial services industry and beyond in the East Arabia region that includes countries as diverse as the UAE, Qatar, Kuwait, Oman and Pakistan.

“This special report marks a positive outlook following the establishment of Mastercard’s East Arabia division – a clear indication of the incredible growth we see in this dynamic part of the world. Recognizing the region’s immense potential, Mastercard’s recent divisional restructure is part of our refreshed organizational design that focuses on fast-tracking growth, strengthening stakeholder engagement and enhancing our multi-rail capabilities in key markets,” said J.K. Khalil, Division President, East Arabia, Mastercard.

 “With huge disparities in GDP, population, and size, it could be easy to overlook the commonalities between the region’s countries. The golden thread that connects them is an appetite for digital disruption driven by technology. These markets are all embracing a digital future, and a rise in fintech, bourgeoning SME landscapes and progressive governments are leading to a bright and connected tomorrow,” he added.

The report brings to life insights from global and local Mastercard leadership to map the state of the evolving payments landscape in the region and examine the key themes shaping its future – from geopolitical and economic trends to shifts in consumer behavior.

The report sets the scene with overall economic outlook for the rest of 2024 from the Mastercard Economics Institute, which reveals that most markets in East Arabia should see continued normalization in inflation rates. The report highlights tourism as a bright spot, especially in the GCC region, which has become one of the world’s fastest-growing destinations.

The document also takes stock of Mastercard’s achievements in advancing digital transformation, driving payment innovation and boosting financial inclusion.

Showcasing a shift in consumer expectations and an increasing need for more flexible payments, the report underscores high awareness of installment solutions as a budgeting tool. Last year, the technology giant marked the debut of the Mastercard Installments program in the EEMEA region with the launch of the SlicePay card in collaboration with First Abu Dhabi Bank (FAB) under its Dubai First trademark.

The report further emphasizes the importance of public-private partnerships in the development of the sector. Mastercard’s milestones in government collaboration include the launch of the Digital City Partnership with Dubai’s Department of Economy and Tourism (DET) and the opening of the Center for Advanced AI and Cyber Technology in Dubai with the UAE Prime Minister’s Office. In Pakistan, Mastercard also signed a strategic agreement with the Punjab Central Business District Development Authority (PCBDDA) to turn the community into a cashless economic zone by deploying innovative smart city solutions.

 

UBL organized the official launch ceremony of UBL Currency Exchange, a wholly owned subsidiary of the Bank on Monday, June 3, 2024 in Karachi. The event was attended by Mr. Jameel Ahmad, Governor, State Bank of Pakistan (front, third right), Mr. Muhammad Jawaid Iqbal, President & CEO UBL (front, third left) along with senior executives from SBP & UBL.

United Bank Limited (UBL) is proud to announce the official launch of UBL Currency Exchange, a wholly owned subsidiary of UBL, marking a significant stride in our commitment to reliability and customer satisfaction in financial services. Our aim is to offer seamless and secure foreign exchange solutions for individuals and businesses.

Strategically positioned with 58 outlets (48 Branches + 10 booths) across Pakistan, UBL Currency Exchange is well-equipped to meet diverse customer needs. The recent launch ceremony, held in Karachi, was attended by esteemed dignitaries, including Mr. Jameel Ahmad, Governor of the State Bank of Pakistan (SBP); Muhammad Jawaid Iqbal, President & CEO UBL, and senior team members of UBL

UBL Currency Exchange is proud to have met the State Bank of Pakistan’s directive of establishing 50 branches within a year, setting a new industry standard. Having acquired the infrastructure of the renowned WallStreet Exchange Company, and with a commitment to customer satisfaction and compliance, UBL Currency Exchange is dedicated to become a leading provider of foreign exchange and remittance solutions in Pakistan.