Author: admin

Karachi (Muhammad Yasir)

Pakistan Banks’ Association (PBA) announces the retirement, with effect from, March 31, 2024, of its longstanding CEO & Secretary General, Mr Tawfiq A. Hussain. After more than a decade of meritorious service to the Association, Tawfiq Hussain leaves behind a legacy marked by notable achievements and substantial growth of the organization. His strategic vision and unwavering commitment to excellence have raised the profile of the PBA and positioned it as a leading industry body in Pakistan.

Following Tawfiq Hussain’s retirement, the PBA Executive Committee unanimously selected Mr Muneer Kamal to be his successor and assume the role of the new CEO & Secretary General, effective April 1, 2024. Possessing over four decades of extensive banking experience, Muneer Kamal brings a wealth of expertise and insight to the role. His career in banking and financial services started with Citibank Pakistan and since then Muneer has assumed both local and international positions in various financial entities, including as President & CEO of Faysal Bank and Union Bank. Muneer Kamal holds an MBA degree from the Institute of Business Administration, Karachi.

Muneer’s diverse Corporate Governance experience includes having served as Chairman – Pakistan Stock Exchange, Chairman – National Bank of Pakistan, Director – Engro Corp, and Director – DH Corp. He is a member of the Board of Directors at Infra Zamin Pakistan, GSK Pakistan, Jubilee Life Insurance, National Clearing Company of Pakistan (NCCPL) and also serves as a member of the Board of Governors of the National University of Medical Sciences.

In light of the recent management changes, Mr Zafar Masud, Chairman – PBA commented, “On behalf of the PBA Executive Committee, I would like to welcome Mr Muneer Kamal as the new CEO & Secretary General of the Pakistan Banks’ Association. Muneer’s demonstrated leadership and deep understanding of the banking landscape over the years position him to lead the organization forward, advancing PBA’s mission of promoting banking excellence. The Executive Committee would also like to extend its profound gratitude to Mr Tawfiq Hussain for his years of meritorious service and wishes him success in his future endeavors.”

Four journalists from Urdu, English and Pushto language-media receive awards for excellence in climate reporting after field reporting boot camps in Swat and Rahim Yar Khan

Pakistan (Muhammad Yasir) The Centre for Excellence in Journalism (CEJ) at the Institute of Business Administration (IBA), Karachi conferred awards upon four journalists for their outstanding contributions to the field of climate reporting at the ‘Climate Reporting Awards’. This measure is funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

The Awards, held for the first time, were organized to highlight and promote journalistic expertise in the areas of environment and climate change after 24 journalists across the country attended five-day Green Media Initiative boot camps in Khyber Pakhtunkhwa and South Punjab.

Dr. Rüdiger Lotz, Consul General, Consulate General of the Federal Republic of Germany, gave welcome remarks at the event. He stated, “To the journalists we honor today, my heartfelt congratulations and deepest gratitude. I encourage you to continue your invaluable contributions to the climate change discourse, knowing your voices enable climate action. Your stories have not just informed the public, they have demonstrably made a difference.”

The awards were conferred to four journalists – two from each province – for news stories written or produced after the successful completion of the Swat boot camp in November and the Rahim Yar Khan boot camp in December.

The winners and runners-up are as follows:

Rahim Yar Khan

Winner: Irfan Ulhaq, Correspondent, Dawn Media Group

Story title: Salinity control plan reclaims 1.3 acres farmland

Runner-up: Mahjabeen Abid, Producer/ Anchor, PTV National Multan

Story title: Air pollution: A big reason of complications during pregnancy

 

Khyber Pakhtunkhwa

Winner: Arif Ahmad, Reporter, Zama Swat

Story title: An entire village in Swat flooded due to climate change

Runner-up: Laiba Hussan, Reporter, Aaj News

Story title: Solar energy’s unintended impact: Peshawar’s silent drought crisis

Winners and runners-up were selected by two senior journalists from a total of 20 entries from the alumni of Green Media Initiative boot camps. The jury included Shahzeb Jillani, Senior Journalist and Host of Zara Hut Kay at Dawn News and Afia Salam, Freelance Journalist.

During the occasion, a resource book titled ‘Pakistan: On the Frontline of Climate Change’ authored by Rina Saeed Khan and edited by Farahnaz Zahidi was launched. The book provides journalists with an overview of the impact, governance and legal structures, and tips to improve climate change journalism in an easy-to-understand format.

Amber Rahim Shamsi, Director CEJ, highlighted the Centre’s efforts for providing opportunities to journalists to learn climate reporting on ground: “CEJ-IBA has been at the forefront of capacity-building for stimulating climate journalism”.

“We are honored to partner with the like-minded GIZ, which shares our vision for high quality and high impact reporting,” she said.

In his keynote speech, Ahmad Shabbar, Founder and CEO, GarbageCan, emphasized the ‘corrective mechanism’ of nature and stated, “If something in Nature goes wrong, it corrects itself. I am of the firm belief that you and I are a part of that corrective mechanism. We have been made to realize that we need nature or a certain climate to survive. And there is something very wrong going on. Now it is for us to decide how we want to live. And for the media to tell it as it is so that people can decide for themselves.”

·      Three new AI-powered solutions are added to Visa Protect suite to help block fraud

·      Among the newest services: a cutting-edge immediate payment fraud solution and expanded capabilities to mitigate fraud, agnostic to payment network

·      Growing usage across global services portfolio – Visa’s largest 265 clients now use an average of 22 of Visa’s value-added services products

Pakistan (Muhammad Yasir) Today, Visa (NYSE:V), a leader in digital payments, announced continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions. The new products, part of the end-to-end Visa Protect suite, are designed to reduce fraud across immediate account-to-account and card not present (CNP) payments, as well as transactions both on and off Visa’s network.

 Visa Protect is part of a broad suite of Visa value-added services that have grown to nearly 200 products, spanning five high-demand categories: Acceptance, Advisory, Issuing, Open Banking and Protect. To help clients navigate a growing number of complexities, Visa has combined decades of expertise and significant investments in both AI and fraud prevention, with $10 billion over the last five years alone in technology and innovation, to help reduce fraud and increase network security.

“Digital payments go far beyond completing a sale – we are entering an era of modern commerce where winners move fast, AI is essential, experiences are flexible and security is native,” said Antony Cahill, Global Head of Value-Added Services, Visa. “Businesses are looking for partners that can enable their ambitions to compete and win and we’re proud to be the trusted partner helping a growing number of clients do exactly that in today’s highly competitive environment.”

Security and fraud prevention are fundamental to Visa. Last year, Visa helped block $40 billion in fraudulent activity, nearly double from the year prior[2]. Today’s announcement focuses on three Visa Protect solutions that are intended to address client needs and utilize the company’s deep expertise in AI:

 

·         Expansion of Visa Advanced Authorization (VAA) and Visa Risk Manager (VRM) for non-Visa card payments: Visa’s extensive, AI-powered fraud risk management solutions are now network scheme agnostic, allowing issuers to simplify their fraud operations into a single fraud detection solution that help strengthen fraud protections while reducing costs.

·         Visa Provisioning Intelligence (VPI): While tokenization is one of the most secure ways to transact, fraudsters use social engineering and other scams to illegitimately provision tokens and commit fraudulent transactions. VPI, an AI-based product, is designed to address this challenge and combat token fraud at its source by using machine learning to rate the likelihood of fraud for token provisioning requests. VPI, accessible through Visa Risk Manager, helps financial institutions prevent fraud in a targeted way and enable more seamless and secure transactions across device, ecommerce and card-on-file tokens.

·         Real-Time, Account-to-Account Payment Protection: Visa’s first fraud prevention solution built specifically for immediate payments, including P2P digital wallets, account to account transactions, and central banks’ instant payment systems. Powered by deep learning AI detection models, this new service provides a risk score in real time that helps financial institutions prevent fraud by automatically blocking bad transactions before they happen.

 Each product will be accessible to clients in 2024, with different release dates depending on the product and market.

 “In today’s digital-first society, Visa remains focused on enabling an advanced suite of risk and fraud solutions to ensure consumer data is protected wherever transactions take place,” said Walter Lironi, SVP, Head of Advisory and Value-Added Services, CEMEA, Visa. “These three new AI-powered solutions are built on Visa’s unmatched technology, innovation, and 30-year heritage in AI, as well as our expert risk advisory and managed services practice. We look forward to supporting and accelerating our clients’ and partners’ growth across Central and Eastern Europe, Middle East and Africa.”

 

Lahore (Muhammad Yasir) OPPO’s groundbreaking flagship, the Reno11 Series 5G, has captured the nation’s fascination since its launch, cementing its status as Pakistan’s premier choice for premium smartphones. Consisting of the OPPO Reno11 5G and OPPO Reno11 F 5G, this series exemplifies OPPO’s unwavering dedication to excellence, now available at an introductory price of PKR 79,999/- for the Reno11 F 5G which goes on sale today.  

The buzz surrounding the OPPO Reno11 Series 5G has been electric, with unprecedented pre-order numbers showcasing overwhelming support. This fervor solidifies the series as the top contender in the premium smartphone market, delivering unrivaled value to consumers. The OPPO Reno11 F 5G is now accessible across Pakistan at authorized retailers, dealers and Naeem Electronics.

#RenovatorIsBack: A New Era of Premium Smartphones

Under the banner of #RenovatorIsBack, the OPPO Reno11 Series 5G has emerged as the pinnacle of smartphone innovation, offering unparalleled features and performance. With its Ultra-Clear Portrait Camera System led by a 64MP Main Camera with OIS, and a design that seamlessly blends elegance with functionality, the Reno11 Series redefines expectations for premium smartphones priced under PKR 79,999/-.

OPPO Reno11 F 5G: The Reno11 F 5G introduces a distinctive Magnetic Particle Design in Palm Green and Ocean Blue, accompanied by a 64MP Ultra-Clear Triple Camera and a 120Hz AMOLED display. Beyond its aesthetics, the device features a MediaTek Dimensity 7050 chipset, 8GB RAM, and a 5000mAh battery with 67W SUPERVOOC™ Flash Charging, ensuring a seamless blend of performance and style – The best you can get in this category.

Embracing the Future with ColorOS 14 Both devices operate on ColorOS 14, seamlessly integrating beauty, security, productivity, and efficiency. Enhanced features like File Dock, Smart Touch, and Smart Image Matting provide users with seamless and productive experiences for both work and play. The resounding success of the Reno11 Series underscores OPPO’s profound connection with its audience and its revered status as a beloved brand in Pakistan. As the series continues to break records, OPPO remains steadfast in its commitment to delivering innovative and user-centric technology to its consumers.

Fly Jinnah inaugurates second international flight connecting Lahore and Sharjah in the UAE.

• The carrier launched its international operations on 18 February 2024, with  first flight connecting Islamabad and Sharjah.

Pakistan (Muhammad Yasir)  Fly Jinnah, Pakistan’s low-cost carrier, today celebrated the inaugural flight of its second international route connecting Lahore, Pakistan with Sharjah, UAE. The carrier commemorated the start of its new route with a pre-departure inaugural ceremony at Lahore International Airport and followed by an inaugural program planned for guests in Sharjah.

Commenting on the launch of the second international route, Fly Jinnah’s spokesperson said: “Just a month following the launch of our international operations with the inaugural flight from the capital city Islamabad, today we celebrate the inaugural of our second international route into the UAE connecting Lahore with Sharjah. This step not only highlights the importance of strengthening air connectivity between Pakistan and the UAE, it also reflects our commitment to offering our customers new options for affordable and value driven air travel domestically and internationally.”

Fly Jinnah remains steadfast in offering convenient and affordable service to its passengers. With its modern fleet of five Airbus A320 aircraft, the airline currently connects five major cities in Pakistan, namely Karachi, Lahore, Islamabad, Peshawar, and Quetta, in addition to the newly launched international destination to Sharjah in the UAE.

In addition to the extra comfort provided by the most generous seat-pitch of any economy cabin, the carrier offers affordable and value-driven travel experiences through “SkyCafe” onboard menu where passengers can enjoy a wide variety of delicacies between snacks, sandwiches, and meals at affordable prices. The aircraft is also equipped with “SkyTime”, a free in-flight streaming service that allows passengers to stream a wide selection of entertainment directly to their devices.

Customers can now book their flights by visiting Fly Jinnah’s website (www.flyjinnah.com), by calling the call centre (111-000-035) or through travel agencies.

Pakistan (Muhammad Yasir)

Pakistan Tobacco Company Limited (PTC) has been honoured by the Government of Pakistan for its exemplary contribution as one of the country’s highest taxpaying company. This recognition underscores PTC’s steadfast commitment to corporate responsibility and its significant role in driving economic growth in Pakistan. As one of the leading multinational’s operating in Pakistan, PTC has always placed a strong emphasis on compliance and integrity in fulfilling its tax obligations. In 2023, PTC contributed more than PKR 229 billion to the National Exchequer in the form of various taxes and duties. Furthermore, PTC has actively participated in the country’s development endeavours, evident through its exports exceeding USD 48 million in 2023. The Company’s substantial investments for its Environment, Social, and Governance Agenda underscores its dedication to shaping A Better Tomorrow.

The Government of Pakistan’s acknowledgment of PTC as one of its highest taxpayers is a testament to the company’s unwavering dedication to upholding the highest standards of corporate citizenship.

The Chairman of Siddiqsons Group Receives 4th Highest Taxpayer Award from the Prime Minister of Pakistan.

Pakistan (Muhammad Yasir) Today, Prime Minister Shehbaz Sharif presented awards to 65 leading exporters and compliant taxpayers in a ceremony held at the PM Office. Among the recipients, Mr. Tariq Rafi, the Chairman of Siddiqsons Group, was recognized as the 4th highest taxpayer by the Prime Minister.

Established in 1959, Siddiqsons Group has excelled in various sectors including Textile & Denim Manufacturing, Real Estate & Construction, Tinplate Manufacturing & Tin-Can Packaging, and Dairy Industries, expanding its presence globally.

The ceremony saw the distribution of approximately 40 awards to top exporters in sectors like textiles, sports, surgical goods, pharmaceuticals, foods, and steel. Moreover, awards were presented to taxpayers who contributed significantly through their income tax payments in various categories such as companies, AOPs, and individual taxpayers.

The government also acknowledged Small and Medium Enterprises (SMEs) and first-time filers who made substantial contributions to the national treasury, offering special incentives to those who made significant tax payments.

Noteworthy features of the Prime Minister’s awards for compliant taxpayers and exporters included recognizing (i) top IT exporters, (ii) large exporters in sectors other than textiles, (iii) first-time exporters with export values exceeding $10 million, (iv) exporters of non-traditional products, (v) women exporters, and (vi) those with the highest growth compared to the previous year.

Compliant taxpayers were acknowledged based on criteria such as (i) highest individual income taxpayers, (ii) AOPs and companies with the highest tax contributions, (iii) overall highest taxpayers, (iv) new taxpayers with substantial tax payments, (v) business income taxpayers with significant growth, (vi) entrepreneur taxpayers, (vii) SMEs, (viii) taxpayers with substantial foreign direct investment (FDI), and (ix) entrepreneurs from underdeveloped regions.

 

Pakistan Cables wins the Gold Award for the Women Empowerment & Gender Equality.

Pakistan (Muhammad Yasir)  Pakistan Cables won the Gold Award at the Women Empowerment & Gender Equality recognition Awards 2024 ceremony organized by the Employers’ Federation of Pakistan. The award was presented by the Federal Secretary of Ministry of Overseas Pakistanis and Human Resource Department, Dr. Arshad Mahmood to Mr. Aadil Riaz, Director Human Resources, Pakistan Cables Ltd.

Pakistan Cables is committed to champion gender equality and female empowerment in the industry. As part of a focus DEI strategy, the Company actively fosters a diverse organizational culture through various internal and external initiatives.  “Pakistan Cables is playing a pioneering role to promote female empowerment in the engineering sector. We are an equal opportunity employer that challenges stereotypes in the industry and we continually invest in a diverse workforce. Our internal policies and practices are aligned to promote inclusion in all aspects of business. We have also made social investments through external partnerships to promote women in STEM based subjects and aim to inspire others to follow in Pakistan.”, said Fahd K. Chinoy, CEO Pakistan Cables Ltd.The award is an acknowledgment which underscores the Company’s unwavering dedication to diversity, equity, and inclusion internally and also pioneering best business practices in the industry.