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Pakistan (Muhammad Yasir)

Meta has launched a series of specially created Ramadan themed features across its apps to help people connect with their loved ones ahead of Eid.

To help make online check-ins more fun, WhatsApp has released a new sticker pack, which includes stickers in Urdu, designed to help Pakistanis share timely well-wishes with their nearest and dearest. 

As we get closer to Eid, many go online to buy their clothes for the occasion. Creators like Osamah Nasir and Ayla Adnan are on Instagram, sharing their favorite Pakistani clothing brands, like Moosajee and House of Aamna Aqeel. They are calling on others to support local small businesses as they prepare for Eid. 

They created their Stories using Instagram’s new Ramadan template that people can add to their Stories to capture their #MonthOfGood. 

There is also a surprise for people who use the tag, “Eid Mubarak” on Threads during Eid celebrations on April 9th, 10th and 11th.

Pakistan (Muhammad Yasir)

Engro Energy Limited, a wholly owned subsidiary of Engro Corporation Limited, has entered into a Share Purchase Agreement with Liberty Power Holding (Pvt.) Limited and consortium for the sale of its thermal energy assets portfolio.

The consortium is made up of Liberty Mills Limited, Soorty Enterprises and Procon Engineering through Master Group of Industries. The sale of thermal assets is part of Engro’s ongoing efforts to streamline and optimize capital and resource allocation.

The Agreement has been signed for the sale of Engro Energy’s entire (a) 68.9% shareholding in Engro Powergen Qadirpur Limited (EPQL), (b) 50.1% shareholding in Engro Powergen Thar (Private) Limited (EPTL), and (c) 11.9% shareholding in Sindh Engro Coal Mining Company Limited (SECMC).

The transaction value of each of EEL’s shareholdings is: (1) EPTL: PKR 21.04 billion (2) SECMC: PKR 6.21 billion and (3) EPQL: PKR 7.5 billion, in each case, subject to certain adjustments as agreed in the definitive agreements. Completion of the transaction is subject to the agreed conditions, including receipt of corporate/regulatory approvals and lender consents.

Engro entered the energy vertical in 2008 by establishing Engro Powergen Qadirpur Ltd, a power asset that utilized flare gas, to help solve the unprecedented energy crisis faced by Pakistan. The Group has continued to achieve significant milestones in the energy sector, including unearthing Thar coal and subsequent Mine expansions under SECMC, and setting up two 330 MW EPTL power plants. These energy assets are consistently ranked amongst the most efficient, reliable, and compliant in terms of global safety and environmental standards. Through its projects, Engro Energy has helped illuminate 9 million lives every year and enabled net import substitution of around USD 1.5 billion since inception.

Sharing his thoughts on the SPA signing, Ghias Khan – President & CEO of Engro Corporation said that, “While we take great pride in our contributions in the energy space, it is important that we constantly reevaluate our business portfolio and optimize it to ensure that we remain focused on helping solve the most pressing issues of our time. The SPA with Liberty opens exciting opportunities for growth, innovation, and continued success for both our people and businesses.”

According to Muhammad Ashraf Mukaty, Chairman, Liberty Group and President, Liberty Power Holding, “This is a truly historic day for all of us, whereby we have the opportunity to be a part of this amazing team that has built such successful companies to serve the people of Pakistan. As one of the founding shareholders in EPTL, we have been part of the Thar Dream since its inception. Our vision is to expand beyond the current purpose and allocate strategic resources for the continued growth of the businesses, our people, communities, and Pakistan.”

Pakistan (Muhammad Yasir) Google Cloud launched its Startup Competition Pakistan 2024 today, which aims to unearth the nation’s most promising tech ventures and empower them to take center stage on the regional innovation map. This inaugural event highlights Google Cloud’s recognition of Pakistan’s immense talent pool and the flourishing opportunities within its local startup ecosystem.

Google Cloud’s Startup Competition Pakistan 2024 is designed to identify, showcase, and cultivate innovative entrepreneurial ventures in Pakistan. Startups from across the nation are invited to participate and present their groundbreaking ideas, products, or services to a panel of esteemed judges composed of industry experts, investors, and seasoned entrepreneurs.

“We are thrilled to launch Google Cloud’s Startup Competition Pakistan 2024, a country teeming with talent and ripe with opportunities,” said Farhan Qureshi, Country Director, Pakistan, Google. “Through this initiative, we aim to empower and support the next generation of entrepreneurs who are leveraging Cloud technologies to drive meaningful change and innovation.”

The competition will feature five distinct tracks, each focusing on a specific area of innovation including AI & Generative AI, E-commerce & Connectivity, Fintech, Frontier Digital Technologies and Sustainability & Environment

Five finalists from each track will be selected on the basis of the strength of the product, market differentiation, growth potential and strength of the team. These finalists will then advance to the Grand Finals to be held in Karachi in late July 2024, where they will pitch before a distinguished panel of judges and industry experts. One winner from each track will be awarded a cash prize of PKR 1 Million, along with exclusive networking opportunities with leading venture capitalists.

“This competition serves as a testament to Google Cloud and Tech Valley’s unwavering commitment to supporting and accelerating the growth of Pakistan’s local startup scene,” said Umar Farooq, CEO of Tech Valley. “By supporting startups and fostering innovation, we are helping to drive economic growth and create new opportunities for entrepreneurs in Pakistan.”

The competition has garnered support from various key stakeholders in the startup ecosystem, including sponsors Organization of Pakistani Entrepreneurs (OPEN), Aspire, Bookme and Tridorian. It also has the support of Google Developer Groups and key community partners such as Indus Valley Capital, Fatima Gobi Ventures and Katalyst Labs among others.

Karachi (Muhammad Yasir) Kreative Kinder Haus, an inclusive school network dedicated to providing educational, as well as non-educational support to differently-abled children in Islamabad, marked the celebration of Autism Awareness Month at their flagship branch this week.

Report calls for a concerted effort to address longstanding talent challenges and reshape the dynamics to achieve sustained growth and impact.

Lahore (Muhammad Yasir) Major challenges that the audit profession faces in attracting and retaining talent are set out in the latest report by ACCA (the Association of Chartered Certified Accountants) and Chartered Accountants Australia and New Zealand (CA ANZ).

A survey conducted by accountancy bodies ACCA and CA ANZ, which was supported by a series of global roundtables, revealed persistent challenges facing the auditing profession in its battle to attract and retain talent, implying declining numbers entering the profession.

Insights from more than 6,500 finance professionals across the globe revealed a sector whose workforce is demanding flexible working and equitable remuneration in the face of increasing concerns about individuals’ work life balance.

Antonis Diolas, head of Audit and Assurance, ACCA and author of the report Attract, Engage, Retain: Insights and Recommendations for Audit Talent Success, said: ‘A compelling insight from our study highlights the absence of a commonly understood and unified purpose within the audit profession. This not only inhibits prospective candidates from entering the profession in the first place, but also hinders current professionals from recognising how their work generates value.’

Amir Ghandar, Reporting and Assurance leader, CA ANZ said: ‘The research clearly shows the need for empathy and respect in the workplace recognising employees’ multifaceted lives. People also need to be able to see themselves in their leaders, to visualise the opportunities and career possibilities in a way that feels real.’ 

More than half of the survey respondents were Gen Y/Millennials aged 25-42, with 37% current auditors, 33% former auditors and the rest considering audit as a future career.

While audit firms are implementing initiatives to address concerns, the persistence of the core issues signals the need for transformative change. For instance, the survey revealed enthusiasm for sustainability reporting and assurance among both existing audit professionals and potential entrants to the profession. This presents a unique talent attraction opportunity for audit firms to capitalise.

Five themes emerged from the research to solve the current crisis:

Work-life balance is the key issue: unsupportive workplace cultures need to be addressed, with more emphasis on supportive working environments which recognise personal needs and wellbeing.

Fair remuneration: intensive workloads during the peak audit season must be remunerated and if not addressed could further impact the attraction and retention of talent in the future.

Career ladder and variety of work: the traditional career ladder is unappealing to young audit professionals. Firms need to look to develop a ‘career lattice’, to offer a greater variety of roles and to work to accommodate auditors’ preferences and outside interests.

Sustainability assurance and reporting: this work is seen as purpose driven and offers a clear hope for the audit profession with 48% of non-auditors saying such work could tempt them to join the profession and 40% of auditors saying such a career could tempt them to stay.

Embrace technology to remain relevant: those considering entering the profession wish to embrace advanced technologies. While the Big Four and mid-tier firms can fulfil that wish small firms are lagging. Bridging the technology gap is a strategic imperative for the profession.

The report recommends that new entrants experience advanced technologies from the outset. Ghandar said: ‘The opportunity for exposure and training in cutting edge technologies is a major drawcard for early career professionals, and it is this cohort with a fresh perspective and true digital nativity where many bright ideas for the future of auditing may spring.’’

Diolas said: ‘Audits serve as the backbone of financial reliability, ensuring accuracy and transparency while building trust and accountability. With robust audit practices, businesses not only thrive but also attract investment, bolstering the stability of capital markets and contributing to a prosperous economic future for all.’

Communicating this message so that it resonates with prospective and existing audit professionals should lead to positive outcomes in talent attraction and retention.  

Karachi (Muhammad Yasir)

Shan Foods, one of Pakistan’s longstanding food companies, has unveiled its brand new corporate identity under the name of Shan Shares. The culinary giant, which dominates the South Asian cuisine landscape in more than 70 countries worldwide, has been famous for its ‘Taste Happiness’ tagline since its inception from a single-room operation in 1981. The company has remained actively involved in community efforts geared towards its amplifying its Corporate Social Value (CSV) since its early days. Through consistently impactful welfare work in different collaborations, Shan Foods tends to showcase itself as a peoples’ brand, dedicated to uplifting and empowering the underprivileged. Speaking about the new corporate identity, Sammer Sultan, the co-chairperson of Shan Foods, said: “CSR has always been close to us and the company. We have seen many areas where in our farmer-to-consumer chain where we can create a positive impact through our resources and our influence” , hence, establishing the Shan Shares as yet another feather in the hat for the company. Shan Shares aims to showcase its CSR achievements and its allegiance to the United Nations’ Sustainable Development Goals. It also acknowledges the onus of responsibility in community uplift that it carries being an authentic Pakistani brand, and symbolizes the company’s efforts in serving those in need across the nation in healthcare, education, environmental preservation, and so forth. The latest and highly-anticipated venture vows to encourage ethical practices across the board within the company, and also aims to utilize its presence and resources across the country to foster meaningful partnerships and memberships that encourage sustainable manufacturing, women empowerment, environmental preservation, educational advocacy, healthcare assistance, and a number of other social causes.

Bank Makramah Chairman of the Board of Directors apprises shareholders of BML’s vision to excel in Islamic Banking.

Pakistan (Muhammad Yasir)  Bank Makramah Limited (BML) held its 18th Annual General Meeting (AGM) of the shareholders, headed by Mr. Abdulla Nasser Abdulla Hussain Lootah, Chairman of the Board of Directors of BML.

Addressing the shareholders and the bank’s senior management, Mr. Abdulla said, “As we gather for our AGM, I am excited to share BML’s vision towards contributing to the future of Islamic banking. With a global outlook, we’re pioneering a futuristic approach, ensuring convenience to customers through the digitisation of processes. At Bank Makramah we pride ourselves in embracing modernity and introducing tailor-made technological solutions to transform our banking services. Together, we’re shaping a new era of banking that is both innovative and inclusive. Thank you for your continued trust and support as we embark on this journey towards excellence.”

Lahore (Muhammad Yasir) 

In a significant move towards financial digitization in Pakistan, Zindigi, powered by JS Bank, has entered a strategic partnership with Zong, the leading telecommunications provider in the country. This collaboration aims to provide seamless and innovative digital financial solutions, reinforcing the shared vision of both entities to drive financial inclusivity and digital transformation across Pakistan.

Through this partnership, Zong users will gain access to Zindigi’s digital financial services, for seamless payments and much more. This collaboration marks a significant milestone in Pakistan’s digital financial services transformation, bringing the country closer to a fully inclusive financial ecosystem that caters to consumer needs.

Noman Azhar, Chief Officer of Zindigi, stated, “Zindigi’s primary mission is centered on addressing evolving consumer needs. Our collaborative efforts aim to elevate the user experience for Zong subscribers while also making a significant contribution to the digital financial landscape of the country.”

Adding to this, Huang Zhidong, Chief Financial Officer at Zong, expressed enthusiasm for the partnership. “We are excited to partner with Zindigi to integrate their Banking as a Service solution within our Zong app.”

This partnership emphasizes Zindigi’s unwavering commitment to empowering organizations by delivering tailor-made solutions through BaaS platform to address their digital financial service needs. It marks a significant milestone in forging a more inclusive, digitally empowered, and customer-centric financial ecosystem.

Pakistan (Muhammad Yasir)

realme has added another promotion this Ramzan season with an incredible offer on its realme C67 smartphone, making it an irresistible deal for tech enthusiasts and bargain hunters alike. Originally priced at PKR 52,999, the smartphone has seen a significant price reduction and is now available for just PKR 39,999/-. This special offer is part of realme’s Ramzan celebration and is valid from March 26 to April 14, providing a limited-time opportunity for customers to snag the device at an unbeatable price.

But the savings aren’t the only attraction realme is offering. In a bid to add more excitement to this festive deal, the smartphone manufacturer is also hosting a lucky draw. Customers who purchase the realme C67 during the promotional period have a chance to win an electric bike. To participate, buyers simply need to share their purchase slip in the comments section of the official realme Pakistan Facebook post. Lucky few will be selected as winners during a lucky draw on the 15^th of April 2024. This unique blend of savings and thrilling rewards makes the realme C67 an even more enticing purchase this Ramzan season.

The realme C67 has been a standout performer since its grand entrance into the Pakistani market, drawing praise for its perfect blend of power, style, and innovation. As the latest addition to the revered C Series, the C67 has not only promised but delivered a redefined smartphone experience that caters to the needs of today’s tech-savvy users.

Camera aficionados will be thrilled with the C67’s 108MP Ultra Clear Camera, which brings a revolutionary 3X In-sensor Zoom capability to the table. This feature propels the device to the forefront of the smartphone photography arena, providing users with crystal-clear imagery and the ability to capture life’s moments from various ranges with impeccable detail.

Under the hood, the device is propelled by the formidable Snapdragon 685 6nm chipset. This processor is a powerhouse, boasting a CPU that can reach speeds up to 2.8GHz and achieving a 21% enhancement on the AnTuTu Benchmark over its predecessors. This translates into a device that offers stellar efficiency and speed that’s felt across every use. Gamers and those who demand smooth multitasking will appreciate the upgraded GPU performance, which ensures an engaging and fluid experience.

The C67 doesn’t skimp on memory either, offering 8GB of RAM right out of the box with the ability to tap into an additional 8GB through DRE technology, alongside a generous 128GB of internal storage. The dual RAM feature and expansive storage capacity ensure that the device can handle a plethora of apps and files with ease, keeping up with the demands of heavy multitasking and data storage.

Charging is swift with the C67’s 33W SuperVOOC Charging feature, juicing up the 5,000mAh battery to 50% in a mere 30 minutes. The design of the smartphone does not go unnoticed; it sports an ultra-sleek body that’s only 7.59mm thick and boasts a large 17.07cm (6.72”) display with a 90Hz refresh rate. This design not only looks good but enhances the viewing and interactive experience with smooth, vivid visuals.

The realme C67’s new price point of PKR 39,999/- is an invitation to tech enthusiasts to step into a world of advanced smartphone technology without breaking the bank. This adjustment in pricing is a testament to realme’s commitment to making premium technology accessible to a wider audience, ensuring that the C67 stands out as a top contender in the Pakistani market.