Category: Business

Pakistan (Muhammad Yasir)

HR Knowledge Cafe (HKC) organized TechRfest 2023 HR Knowledge Cafe (HKC) Smashed a Record as Pakistan’s Largest Tech HRs Appearance on 7th February 2023 with 500+ HR Professionals from IT companies across Pakistan attended TechHRFest 2023 at the Pearl Continental Hotel in Lahore. It was a great honour to have The Governor of Punjab, Mr. Muhammad Baligh Ur Rehman as The Guest of honour with us who emphasized the importance of Government, Industry and Academia working together to support the training and education of women in industry. “Through delegation between government, industry and academia we can develop overseas programs to support the education and training of women in the field of IT, increase their access through credit and financial services and provide them with opportunities to participate in the workforce” said Governer of the Punjab.

He added that Government of Pakistan has taken several initiatives to promote women empowerment in the country including Benazir Income Support Program, Kamyab Nojawan Program, Youth Business Loan Schemes, Women Empowerment Packages, National Commission on Status of Women. The Guest Speakers we had on the agenda; Habiba Sulman, Sajjad Kirmani, Ayesha Zaman, Afsheen Iftikhar, Rashda Abbas, Iftikhar Hussain, Syed Umer Javaid, Maria Zamir Syed, Kanwal Cheema and Sabahat Bukhari did honour to the fascinating concepts of “Women in Tech: Challenges vs Opportunities” and “HR as an Intrapreneur.” The Co founders of HR Knowledge Cafe, Sheraz Chaudhry, Haroon Akhtar, and Waqas Ali along with their fantastic team members worked tirelessly to make the event a huge success.

Sheraz Chaudhry spoke about the purpose of the platform and the Tech HR Fest, which is to minimize the gap between industry and academia and to educate HR Professionals on the norms and regulations required to support their company and overall IT industry. Haroon Akhtar expanded on this idea by adding ” Tech HRs – in HR Knowledge Café – get together with the intent of knowledge management, meet and greet, to understand market trends, and to discuss what global trends of companies are being introduced in Pakistan.”

The impact of the event was greatly increased by the live media coverage by Lahore News, GNN News, Hum News, Bol News, News NewsHD, City 42, Imaginations, and many other TV and YouTube channels. We warmly extend our gratitude to the Deserving Sponsors who Confided in HKC with their Generous Sponsorships. Thanks to our Gold Sponsors (Raydiex Group of Companies & Euphoria XR (AR-VR apps and gaming), Silver Sponsors (Hazel Mobile, 9D Technologies & ZUFTA Travel and Tours), Bronze Sponsor (PureLogics, KIA Motros and KingsGate & Stewart Pvt. Ltd). Special Thanks to PSTD – Pakistan Society for Training & Development, Popcorn Studios and Women Business Network (WBN) for the considerable support.

The HR experts were ecstatic and thrilled to experience a pleasant meet and greet environment at TechHRFest’2023.

Communications Service Providers in Top 20 5G markets enjoying revenue growth Enhanced Mobile broadband and Fixed Wireless Access proving popular early use cases Cloud gaming, enterprise and industrial deployments gaining momentum.

Pakistan (Muhammad Yasir) New research from the Ericsson (NASDAQ: ERIC) Mobility Report team provides encouraging evidence for communication service providers (CSPs) worldwide by identifying a correlation between 5G uptake and revenue growth.

Flattening revenues have been a challenge for service providers in all parts of the world, often impacting network investment decisions as part of their business growth strategies, known as ‘monetization’ in the industry.

A special Ericsson Mobility Report edition – called the Business Review edition – addresses these monetization opportunities as they relate to 5G. 

The report highlights a positive revenue growth trend since the beginning of 2020 in the top 20* 5G markets – accounting for about 85 percent of all 5G subscriptions globally – that correlates with increasing 5G subscription penetration in these markets.

The report finds:

Tiered pricing models are key for service providers, both for effectively addressing the individual needs of each customer and for continuing to drive long-term revenue growth. The top 20 5G markets have seen a significant network performance boost following the introduction of 5G services. After a period of slow or no growth, wireless service revenue curves are again pointing upwards in these leading markets. This correlate with 5G subscription penetration growth.

Fredrik Jejdling, Executive Vice President and Head of Networks, Ericsson, says: “Meeting our customers’ challenges is at the heart of our R&D efforts and every resulting product we develop. The link between 5G uptake and revenue growth in the top 20 5G markets underlines that not only is 5G a game changer, but that early adopters benefit. What is particularly encouraging about this is that while 5G is still at a relatively early phase, it is growing fast with proven early use cases and a clear path to medium and long-term use cases.”

As expected, Enhanced Mobile Broadband (eMBB) is the main early use case for 5G, driven by increasing geographical coverage and differentiated offerings. More than one billion 5G subscriptions are currently active across some 230 live commercial networks globally. 5G eMBB offers the fastest revenue opportunities for 5G, as it is an extension of service providers’ existing business, relying on the same business models and processes. Even in the top 20 5G markets, about 80 percent of consumers have yet to move to 5G subscriptions – one pointer to the potential for revenue growth.

As highlighted in the November 2022 Ericsson Mobility Report, Fixed Wireless Access (FWA) is the second biggest early 5G use case, particularly in regions with unserved or underserved broadband markets. FWA offers attractive revenue growth potential for CSPs as it largely utilizes mobile broadband assets. FWA connections are forecast to top 300 million within six years.

Beyond consumer subscribers, there are growing opportunities in enterprise and public sector applications across the world.

5G enables significant value for enterprises, with private 5G networks and wireless wide area networks being deployed for enterprise and industrial use.

Upgrading existing 4G sites to 5G has the potential to realize increases of 10 times in capacity and reduce energy consumption by more than 30 percent, offering the possibility of growing revenue and lowering costs, while addressing sustainability.

Jejdling adds: “Revenue growth and sustainability are recurring themes in my discussions with customers. In this special Ericsson Mobility Report edition, we have explored how service providers are tapping 5G opportunities. We see initial signs of revenue growth in advanced 5G markets with extensive coverage build-out and differentiated service offerings. An equally crucial aspect of 5G is that it brings cost advantages and helps service providers handle the data growth needed to drive future revenue. This can make 5G the growth catalyst that the market has been waiting for.”

Karachi (Muhammad Yasir)

Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), and Bookme.pk, Pakistan’s largest e-ticketing platform, announce a platform-wide partnership to drive seamless online ticket sales. Paymob’s payments gateway is now fully integrated with Bookme.pk’s entire service portfolio, which includes bus, air, railway, events, hotels, tours, and cinema e-tickets. In addition to this, Paymob is now the sole payment processor of Bookme.pk’s online sales during popular sporting events in the country. Fawad Abdul Kader, Paymob’s Country Manager in Pakistan commented, ”We are thrilled to partner with Bookme.pk as it echoes our mission to deliver faster and more agile digital payments across Pakistan to fuel growth in today’s digital economy. This groundbreaking alliance furthers our reach to more customers across multiple geographies and gives them the opportunity to experience our service over a variety of online purchases.” The giant e-ticketing aggregator Bookme.pk forecasts millions of transactions during the upcoming festive season through its website. Sports enthusiasts can now purchase tickets via the Bookme.pk website with a single click using cards, account transfers, and digital wallets. Paymob will complement this seamless experience with swift settlement of funds through its secure gateway for Bookme.pk’s new and returning customers. Faizan Aslam, CEO & Founder, Bookme.pk, said, “Both Paymob and Bookme.pk share a similar vision – to transform the digital ecosystem in Pakistan. Together, we are well on our way to catering to our consumers in every way possible by doing away with traditional long queues for ticket sales and by providing a smooth and frictionless digital payments infrastructure.” The first quarter of 2023 is expected to be particularly festive in Pakistan with a popular sports series, Ramadan and Eid in quick succession. Adventure-seekers, travelers, and sports enthusiasts across the country, especially in smaller markets, will have access to different formats of entertainment and be able to pay conveniently through multiple payment methods. Since its inception, Paymob has been committed to enabling merchants to accept payments customized to meet their unique business needs. Paymob makes the process of growing a business in the digital economy simple, seamless, and agile, by delivering the most innovative financial technology products to merchants of all sizes. This partnership with Bookme.pk furthers Paymob’s goal of developing an expansive merchant network across Pakistan while serving as the country’s most secure, trusted, and comprehensive payment infrastructure.

Pakistan (Muhammad Yasir) A high level delegation together with Mr. Tim Welsh, Southeast Asia Representative of the US Dry Bean Council (USDBC), and Mr. Rashid Raja, Marketing Specialist, USDA Foreign Agricultural Service and other business dignitaries, visited the premises and office of Naheed Supermarket, Karachi. The delegation was welcomed by Mr. Abraruddin, Founder Naheed Supermarket, Mr. Munsub Abrar, Director Naheed Supermarket and President Retail Industry AMPAK, and other senior team members of Naheed Supermarket.

The visitors also took a tour of the supermarket to appraise the lively atmosphere and examine the rich product offering, and were thoroughly impressed with the diverse range of products available, with a specific focus on the extensive collection of beans and lentils.

Following the visit, a discussion session was held on the advancement of beans and lentils in Pakistan, including how to overcome the lack of certain bean varieties, as well as enhancing awareness of the health benefits of these products among a wider audience through the creation of digital content and utilizing social media platforms. Mr. Munsub Abrar emphasized that an initiation of a bilateral trade opportunity with USA, Pakistan’s retail sector could reap tremendous benefits with the finest beans and lentils available in the country.

The discussion session was attended by Mr. Abraruddin, Founder Naheed Supermarket, Mr. Munsub Abrar, Director Naheed Supermarket and President Retail Industry AMPAK, Mr. Rashid Raja, Marketing Specialist US Department of Agriculture’s Foreign Agricultural Service, Mr. Nasser Wajahat, Co-Founder & Secretary General, AMPAK-BDF, Mrs. Samrah Munsub, CEO Samrah Enterprises and President Women Empowerment AMPAK, Mr. Salman Syed, Vice President Samrah Enterprises, Mr. Hassan Raza, Head Creative Marketing, Content & Development Naheed, and Mrs. Naheed Ansari, one of the top most Senior Pakistani Chef.

Mrs. Samrah Munsub gave an enlightening presentation on Women Empowerment Initiative of Samrah Enterprises and AMPAK pertaining emerging female entrepreneurs especially home-based chefs. Furthermore, Mrs. Naheed Ansari shared her thoughts about the need and demand of lentils and beans in the culinary industry. 

It was reviewed that Pakistan has great potential and both countries can continue to grow their trade and investment relations. The gathering concluded with the potential establishment of a partnership between the US Dry Bean Council and Naheed Supermarket, marking the start of a promising relationship aimed at fostering the retail of beans and lentils in Pakistan.

USDBC is an association of the bean industry that trade high-quality edible beans in the US and abroad. 

Pakistan (Muhammad Yasir)

Martin Dow partners with ABHI to provide Earned Wage Access to its employees. ABHI is offering Earned Wage Access to hundreds of companies as a financial wellness benefit to their employees. The new partnership with Martin Dow aims to provide a comfortable environment for their employees to work and thrive in. ABHI is providing Earned Wage Access (EWA), which will enable the healthcare group employees to access their earned salaries before their payday, allowing them to make immediate financial decisions with ease and improve their financial wellbeing. Martin Dow Group is a leading multinational healthcare group in Pakistan, creating distinction for over 60 years by shaping and leading the future of healthcare and consistently rendering extraordinary healthcare services to the masses through its innovative and technologically advanced practices. Martin Dow Group remains committed to its vision and is better positioned than ever to deliver quality healthcare to patients worldwide. On the day of signing Shahrukh Masood – Group Director HR & Corporate Communications said “In this era of disruption, Martin Dow has taken another step towards financially empowering its employees to take control of their finances with just a snap of a finger. Being a leading employer of choice, it is our responsibility to be on the cutting edge of advancement at all levels. We will continue to invest in our people and create opportunities for all our partners to flourish”. Mohammad Zaidi, Director at ABHI said, “We’re proud to partner with Martin Dow, one of Pakistan’s major healthcare groups, to financially empower their workforce. This shows their commitment and progressive thinking towards the wellness of their employees, hence, providing their workforce a better chance to counter the rising inflation.” ABHI is committed to financially empowering the Pakistani business community and its workforce. With partners like Martin Dow and many more that share the vision, ABHI aims to continue serving seamless financial services to the masses.

Pakistan (Muhammad Yasir) Committed to providing clean, affordable, and sustainable power for people of Pakistan including K-Electric’s growing base of over 3.4 million customers, CEO K-Electric, Mr. Syed Moonis Abdullah Alvi and Mr. Wang Minsheng, CEO China Three Gorges South Asia Investment Limited (CTGSAIL) signed a Memorandum of Understanding (MoU) to collaborate on exploring renewable energy including hydro projects across the country, including Azad Jammu & Kashmir. Both companies will also work to develop a roadmap for the installation of grid-scale Battery Energy Storage Systems into KE’s network.

China Three Gorges South Asia Investment Ltd (CTGSAIL) is a subsidiary of the China Three Gorges International Corporation (CTGI), which is the international business platform of China Three Gorges Corporation (CTG), focusing on clean energy investment, development and operation in more than 40 countries. CTGSAIL has 2.6 GW of generation assets in Pakistan worth over USD 6 Billion and is actively undertaking investments in hydel, wind, solar, and PV power projects across emerging markets in Asia, Middle East and North Africa.

“This is a milestone moment for Karachi and its customers, and I am very pleased to be present here today,” stated Moonis Alvi on the occasion. “We are actively working to contribute positively to the country’s ambition to increase share of clean, sustainable, and affordable energy in our mix. It is exciting to be exploring these new frontiers with global giants CTGSAIL as partners. Their global experience will help take our efforts forward by leaps and bounds, and we look forward to working closely with them. Pakistan is no stranger to climate change, and the time for action is today. Induction of renewable energy is crucial to balance affordability for our customers with the impact on the environment.”

CEO of CTGSAIL, Wang Minsheng while speaking on the occasion stated that this would be one more step by CTGSAIL for Cleaner Energy, Better Pakistan. CTGSAIL in line with the philosophy of “Belt and Road Initiative” of innovation, integration, mutual development and inclusion of local expertise has ventured with K-Electric for providing solutions for low-cost, clean energy which is the cornerstone for economic growth in all emerging economies. Green energy not only helps solve the problem of climate change, but also provides competitive advantage to the industrial consumers through cost optimization. Considering recent floods in Pakistan, we strongly believe that the addition of renewable energy sources in the country’s energy mix is becoming a necessity. We hope that this partnership yields great results for both organizations and culminates in the joint implementation of renewable energy projects in Pakistan.

On the occasion, KE’s Chief Marketing & Communications Officer Ms. Sadia Dada, Head of Business Development Mr. Mudassir Zuberi were accompanied by Senior Advisor Mr. N.A. Zuberi, Deputy General Manager Project Development Mr. Mustafa Umar Riaz from CTGSAIL. Other senior members from both organizations were also present.

STATE LIFE INSURANCE CORPORATION OF PAKISTAN HOLDS 2022 CONVENTION IN PC BHURBAN: ANNOUNCES BEST EVER BUSINESS RESULTS IN ITS 50 YEAR HISTORY.

On February 5^th, 2023, State Life Insurance Corporation of Pakistan (SLIC) held its Annual Marketing Convention in Pearl Continental Bhurban to congratulateits vigorous workforce and determined management team; as well as to celebrate the strongest annual results since its inception. Despite challenges posed by macro-economic and market volatility, SLIC delivered the strongest business numbers in its history and grew its premium revenue to Rs. 279 billion, increasing by 64% from last year.

New business: 173 billion increasing by over 161% from 2021

• Individual Life – Highest ever premium collection since inception.
• Group Life and Health – Highest ever new business since inception.

Earnings:

• Premium Income: Over Rs. 279 billion collected – increased by 64% from 2021.
• Investment Income: Over Rs. 122 billion – Investment yield 10.5%.

Payouts:

• Claims: Over Rs. 167 billion in claims paid to policyholders – Highest ever since inception.
• Bonus allocated to policyholder: Over Rs. 95 billion – Highest ever since inception.

Growth:

• Assets: Over Rs. 1.56 trillion – increased by 15% from 2021.
• Pak Life Fund: Over Rs. 1.4 trillion – increased by 15% from 2021.

The convention held at Pearl Continental Hotel in Bhurban focused on the developments made under Shoaib Javed Hussain, Chairman of State Life and speaking at the occasion; he reiterated, “In any country, the existence of a vibrant and growing insurance industry is essential for the growth of its economy. State Life has surpassed last year’s results and delivered exceptional results in 2022; making SLICs 50^th year a truly golden year. This has only been achieved due to the dedication of our professional workforce, across our officers, staff, and sales force cadres as they implemented the innovative vision and competitive strategy of our dynamic corporate leadership. Insurance becomes even more important during challenging times and difficult circumstances. Behind these incredible business results lie the true essence of our work, which is to provide security and protection to our policyholders. Whether it is for health, saving, children’s education or retirement, State Life is a partner in an individual’s life journey, and we are here to be their support in making key life decisions. I want to thank our policyholders, business partners, and shareholders for putting their trust in State Life; I am confident that with their support we will continue to lead the evolving life and health insurance landscape”

SLIC’s dynamic and visionary business strategies focused on technology and customer centric services continues to drive the organization. SLIC’s revitalized policies are designed to fit the needs of every citizen and wider diaspora of Pakistan, making them the leaders in the insurance industry.

 

Lahore (Muhammad Yasir) PMLS Italian footwear machine manufacturers have shown keen interest for technology transfer in Pakistan and established industry for this purpose. Besides the Chinese footwear component manufactures invited Pakistani counterparts to visit China to explore the joint ventures opportunities in this particular segment.

These developments were come during the three days 8th Pakistan Mega Leather Show (PMLS) concluded here at Lahore Expo Center other day. This year the PMLS was successful event as over 200 exhibitors participated while a large number of visitors visited.

The Pakistan Footwear Manufacturers Association (PFMA) offered linking the all industry with the Italian footwear machinery manufactures for technology transfers in the Pakistan. This will be win-win for Italian machinery manufactures and Pakistani footwear industry.

The PFMA also briefed about the Special Economic Zones being established and available for the foreign and local investors where government is offering good incentives including tax holidays and other, the Italian showed keen interest to establish their machine manufacturing industry there.

The PFMA also offered the Italian machine manufacturers for further collaborations with the government authorities in case they will make investment in Pakistan. Next PMLS will January 27-29 in 2024.

Furthermore, two technical workshops were organized for the industry with the Italian industry experts. These workshops were conducted by the Italian designers which was attended by the designers of almost all top local brands designers. The participants of the workshops appreciated the knowledge imparted by the Italians to the locals.

Additionally, an international seminar was also conducted in the sidelines of the expo on footwear sustainability and survival which was largely attended by the small, and large industrial players.  

first time Expo Riva Schuh, Riva Del Garda, Italy, the world’s largest shoe expo delegation led by its Chairman/CEO Roberto Pellegrini attended the PMLS and participated in different activities. Besides, the delegation also visited the Pakistani footwear manufacturers factories and held meetings with the potential exporters of shoes from Pakistan. The Italian delegation termed Pakistani products a true product for European Markets.

Expo Riva Schuh also signed a MOU with the PFMA under which, a three years special incentivize package is given to the Pakistani footwear manufacturers to attend the world largest shoes expos in Italy in order to display Pakistani products to European buyers. They will ensure visibility of Pakistani footwear industry to Europe and especially in Italy.

In the opening CEO TDAP Zubair Motiwala also assured the leather sector for incentivizing the exporters to attend the international expos. Besides, he also assured the industry release of EDF for the research and development of leather sector of Pakistan.

Pakistan (Muhammad Yasir) With the aim to help increase financial inclusion, especially of underserved groups in the country, Karandaaz is all set to launch a comprehensive demand-side survey – Karandaaz Financial Inclusion Survey (K-FIS), a nationally and provincially representative financial inclusion survey of over 6,600 individuals across Pakistan. The survey aims to track access to and demand for financial services, especially digital financial services. The survey will help measure the adoption and use of a range of financial services among key underserved groups, including females, the poor, rural, and others. It will identify drivers and barriers to the adoption of digital financial services. The survey aims to produce actionable, forward-looking insights based on rigorous data to support product and service development and delivery. Financial inclusion – the extent to which individuals are included in the formal financial system is a development priority for governments across the world. This emphasis is based on the rationale that financial inclusion leads to social equality and confers tangible benefits for segments at the bottom of the pyramid that can benefit through better access and cost-effective financial services. Having a financial account makes it easier, safer, and cheaper to receive wages from employers, send remittances to family members, and make payments for goods and services. Mobile money accounts make it possible, even for the poor, to save and cope with adverse shocks. Individual accounts give women more say on their household finances or save at their own pace or towards their own goals. Moreover, micro and small businesses are provided with effective means to access formal financial services, allowing them to be linked with the documented economy. Reciprocally, financial institutions and governments benefit from the increased size of the formal economy through several means, such as enhanced business revenue and tax collection. Pakistan is one of several countries with a National Financial Inclusion Strategy (NFIS) targeting financial inclusion as a goal. The strategy has usage and access to digital accounts as the first pillar of an extensive plan. The metrics through which basic financial inclusion is measured are vital, and data is the backbone of programs aimed at strengthening the financial ecosystem through private and public interventions. To support financial inclusion in Pakistan, Karandaaz believes making data-driven decisions and evidence-based policymaking will be key to realizing the country’s NFIS goals. Furthermore, it is important to have clear definitions, metrics, and estimates for better planning and intervention designs. Mr. Waqas ul Hasan, CEO Karandaaz says, “It is estimated that the achievement of NFIS goals will add $5.5 billion to the GDP and create 3 million new jobs out of 1 million will be through digitization alone. K-FIS responds to the need for timely demand-side data and practical insights into major drivers of financial inclusion, chiefly digital financial services, including mobile money, and the potential for its expanded use, especially among unserved and underserved population segments. Karandaaz proudly takes ownership of this survey, whose depth and breadth allow for analysis of a large number of financial inclusion indicators by several segments such as urban and rural, gender and provinces. In conducting this rich survey, we are collecting important data on a rich set of indicators and promoting a data-centric culture within the financial ecosystem.” The survey findings will be shared via a Zoom webinar on February 7 followed by two-panel discussions. The panelists for the discussions include Dr. Rashid Bajwa, CEO NRSP; Mr. Muhammad Aurangzeb, President HBL; Mr. Sohail Javaad, ED Digital Financial Services Group, State Bank of Pakistan; Mr. Mudassir Aqil, CEO Telenor Microfinance Bank; and Mr. Mohd. Yahya, Head of Digital, Bank Alfalah. Dr. Nafisa Shah, Member of the National Assembly, will deliver the closing address.

To participate in the Webinar, please register at the

following link: https://forms.gle/5PCBmGfpsciJ2oXm9

Lahore (Muhammad Yasir) Caretaker Provincial Minister for Excise, Taxation, Communication and Works Punjab, Mr. Bilal Afzal, visited the site of CBD Punjab Boulevard and Kalma Chowk Underpass remodeling project as a follow-up to his last visit as per the directive of Caretaker Chief Minister Punjab, Syed Mohsin Raza Naqvi. CBD Punjab Boulevard and Kalma Chowk Underpass remodeling is the project of the Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District (CBD Punjab). Provincial Minister was briefed about the development of the project by the technical team of PCBDDA and the official contractor of the project. CEO CBD Punjab, Mr. Imran Amin, COO CBD Punjab, Brigadier (R) Mansoor Janjua, Executive Director Commercial CBD Punjab, Mohammed Omer, Executive Director Technical CBD Punjab, Mr. Riaz Hussain, senior officials of CBD Punjab, NLC and Nespak were present during the briefing session. During the visit, Bilal Afzal said “My today’s visit is in regard to the directions by Caretaker CM Punjab to visit the CBD Punjab Boulevard and Kalma Chowk Underpass Remodeling site after every three days. I am pleased to see that CBD Punjab has taken the development pace to new heights and the project will be completed as per the prescribed timeline. Our aim is to open all the roads before PSL to accommodate citizens of Lahore and especially cricket fans”. The construction work is being carried out in three shifts. The slabbing of the underpass is 50% completed and the transfer of WASA pipelines is completed. Soon CBD Punjab will start leveling for asphalt of roads. CBD Punjab is committed to the directive of Caretaker CM Punjab for the timely completion of the project.