Category: Business

Pakistan (Muhammad Yasir) Xiaomi Foundation today announced donation of USD 100,000 to UNHCR, the UN Refugee Agency, to support UNHCR’s operation in Pakistan including this most recent emergency response to the flooding and other situations affecting refugees and host communities in Pakistan.

 

Since June, Pakistan’s landscape has been altered by torrential rain, which has submerged approximately one-third of the country under water, taken the lives of thousands, and forced millions to flee their homes.

 

According to the National Disaster Management Authority, more than 33,046,329 individuals have been displaced, and over 1,051,570 houses are damaged because of these devastating floods. 

 

UNHCR is on the ground already distributing life-saving support to affected communities, including many of the 1.3 million Afghan refugees who have been generously hosted in Pakistan for over 40 years. In the worst hit areas of Balochistan and Khyber Pakhtunkhwa provinces, UNHCR has already provided refugee villages as well as host communities with more than 71,000 emergency relief items, including tents, plastic tarpaulins, sanitary products, cooking stoves, blankets, solar lamps and sleeping mats. In addition, UNHCR delivered 10,000 sandbags to help households build up defenses around their homes.

 

Those who would like to provide refugees and local communities in Pakistan with emergency support like shelter, household supplies and blankets, can provide your help via donating to UNHCR “PAKISTAN FLOODS EMERGENCY”: https://donate.unhcr.org/int/en/pakistan-floods-emergency

 

Xiaomi Corporation hopes for the best for those affected, and for a speedy recovery in the affected area.

 

 

 

Mr Rehman Afridi khyber change over Specialist at AT electricals stall to briefing costumers at IEEP Fair 2022 at Expo Centre

Karachi (Muhammad Yasir) AT Electricals participates as Silver Sponsor at the 11th The Institute of Electrical and Electronics Engineers of Pakistan (IEEEP) Fair 2022. A large number of visitors visited AT electrical stall established in Hall#06 at Expo Center Karachi. AT Electricals Country Head Manager Aziz-ur-Rehman, Sale Representative Rahim Ahmed, Khyber change over Specialist Rehman Afridi, CEO A-T Electricals Tanzeem Taj were also present on the occasion. Federal Minister Khurram Dastgir Khan inaugurated the 3-Day IEEP Fair on Tuesday and visited the AT electrical stall and recognized the efforts of AT electrical in the Pakistani market. He said that this fair is one of the biggest Electronics and Electrical Engineering Industrial Exhibition in Pakistan, showcasing a large collection of industrial merchandise and service products. CEO of A-T Electricals, Tanzeem Taj, said that it was indeed an immense honour for them to introduce Turkish & Khyber electrical products in the Pakistani market that were of world-class standard. He hoped that Pakistani consumers and traders would perform their due role to make these electrical goods successful in the local market. He said that consumers in Pakistan had trusted the products of his company for the last 30 years as the public would show the same level of trust in the case of newly introduced Turkish and Khyber appliances.

Group picture shows AT Electricals Country Head Manager, Aziz -ur -Rehman, Sale Representative Rahim Ahmed and others at AT electricals stall installed at IEEP Fair 2022 at Expo Centre Karachi.

 

 

METRO PAKISTAN HANDS OVER RELIEF GOODS FOR FLOOD AFFECTEES

Karachi (Muhammad Yasir) Metro Pakistan, the leading international wholesale company, steps forward as the first retail business in Pakistan to supply relief and food supplies for the flood IDPs in Karachi. In a simple handing over event Mr. M Thiru, Head of Operations, METRO Pakistan met the Commissioner Karachi, Muhammad Iqbal Memon at his office and handed over relief goods.

At the occasion, Mr. M Thiru, Head of Operations, METRO Pakistan, said, “METRO is always at the forefront to provide humanitarian assistance and has used its resources to assist, as and where required. We will continue to do so, till it is over.”

The Commissioner appreciated the efforts of METRO Pakistan for participating in the relief work in this difficult time, and said “The people are severely suffering due to rains and floods. The government is playing its due role to help out the flood affected people and restore their lives. The administration of Karachi is active in helping out the affected families with the assistance of our friends like METRO”.

The relief goods included foods, drinks, and other edible items. METRO Pakistan is extending its relief good assistance to other parts of Pakistan, in the coming days.

Karachi (Muhammad Yasir) Friesland Campina Engro Pakistan Limited (FCEPL) announced its financial results for the six months ended June 30, 2022. The Company reported a revenue of PKR 30,771 million, a 25% increase year-over-year. The growth was led by robust volume growth for both- Dairy & Beverages and Ice Cream & Frozen Desserts segments, as well as improvement in portfolio mix.

Despite steep increases in commodity costs due to soaring inflation, and the rapid, unprecedented devaluation of the Pakistani Rupee, gross profit grew by 2% even though margins declined. Increased interest rates and imposition of the Super Tax in Budget 2022-23 applied further financial pressure. The Company registered a Profit After Tax (PAT) of PKR 938 million against PKR 1,414 million for the same period last year.

Dairy and Beverages

With a growth of 23.4% versus last year, the segment reported a revenue of Rs. 26.4 billion. Olper’s, our flagship brand, led the growth in the segment along with strengthening its market leadership position through consistent brand building and trade activities.

Significant expansion was witnessed in the retail footprint and E-Commerce channels during the period. The segment will continue to explore new channels and routes to market to serve its customers effectively and efficiently.

In Q1 2022, Olper’s UHT new campaign expanding on the theme of “Happy Mornings” was launched, which is already resulting in strengthening the brand’s equity and accelerating conversion from loose milk.

Olper’s Cream also launched a new copy refreshing its association with the morning occasion. The campaign not only focuses on Olper’s cream’s nutritional credentials as a morning spread but also highlights its versatility for other key occasions.

The Company continues to leverage FrieslandCampina’s global expertise to introduce new products and innovations as a key driver of future business growth. The Company is focusing its attention on exploring new opportunities to offer breakthrough products that fulfill its consumer needs particularly around the morning occasion.

The Company’s other products like Olper’s Flavored Milk, Olper’s full cream milk powder (FCMP), Olper’s Pro-Cal and Olper’s Cream have also gained a healthy market share in a short span of time despite strong competition from established players.

Ice Cream and Frozen Desserts

With a growth of 39% versus last year, the segment reported a revenue of Rs. 4.4 billion. This growth has been enabled by the segment’s investment behind season opening activities and expansion of the trade universe by inducting more assets in the market.

To give consumers an experience of a value-added offering, a dual chocolate flavored product with chocolate sauce and chocolate chips, Omore Double Choco Chips Cone was launched at an accessible price point in 2022.

Omore signature thematic campaign “Wow Bhara Bite” continues to be on air and is the perfect expression of what Omore stands for as a brand – the purveyors of tasty, creamy treats in a wide variety of formats, which can be enjoyed by people of all ages – from kids & youth to adults.Financial performance & table

The financial performance of the company for the six months ended June 30, 2022, is summarized below:

	Six Months ended
	June 30, 2022
(Rs. in million)	2022	2021	Variation
Net Sales	30,771	24,590	25.1%
Operating Profit	2,290	2,389	-4.2%
% of sales	7.4%	9.7%	230 bps
Profit / (Loss) after tax	938	1,414
% of sales	3.0%	5.8%	270 bps
Earnings / (Loss) per share (Rs.)	1.22	1.84

 

Accolades

FCEPL was recognised internationally for its sustainability initiatives when it won the Gold Standard Award 2022 for Corporate Citizenship (CSR and Sustainability) by the Public Relations & Communications Association Asia Pacific (PRCA APAC) at a ceremony in Singapore. Our Dairy Development Program, an initiative designed to increase inclusion, profitability and quality for dairy farmers, is integrating sustainability into the dairy value chain and playing a transformative role in Pakistan’s dairy sector.

School Milk Program

The Company is collaborating with the University of Education and UVAS to implement a pilot school milk program in Punjab. Encompassing over 8000 students in 89 primary government schools of Attock and Sheikhupura, the program aims to evaluate the impact of provision of milk on the health and academic performance of children.

Future outlook

The business environment remains challenging due to rising inflation and currency devaluation. However, with an agile business model in place, the Company will continue to drive efficiencies across the value chain and deliver growth.

Our purpose is to transform the health and well-being of Pakistanis, now and for generations to come. Leveraging our global expertise and heritage which spans 150 years, Friesland Campina Pakistan remains committed to the highest standards of hygiene, food safety and sustainability. We will continue to provide safe, affordable, and nourishing dairy products to millions of Pakistanis, every day.

Pakistan (Muhammad Yasir) Renowned Economic, Energy, and Business Leadership came together for highlighting and exploring trade and strategic ties with the regional countries for boosting National and Regional Economies, through the development of infrastructure of Roads and Rail links, Energy Corridors, and Digital Connectivity.

Speaking at the “Thought Leaders Dialogue –  The Next Great Infrastructure Connector,” organized at a local hotel recently, by Nutshell Group and CORPORATE PAKISTAN GROUP, the speakers emphasized the need for a national consensus of all political parties on the core issue of the continuity and consistency of long-term policies. The roadmap of economic recovery is only possible under a comprehensive charter of the economy which is honored by all stakeholders. 

Muhammad Azfar Ahsan, Founder & CEO, Nutshell Group and CORPORATE PAKISTAN GROUP and Ex-Minister of State & Chairman Board of Investment, opened the session with his brief overview of the necessity to address the concern for regional connectivity as a pillar for the economic development of Pakistan. He stated the need for a strong policy structure that should be long-term. He hoped to have this session become an effective platform for highlighting the same. 

Senator Dr. Musadik Malik, Minister of State (Petroleum Division), shared his affirmation of the same by stating that ‘’Countries do not grow in isolation, rather regions grow, together like ASEAN, NAFTA, and GCC.’’ He said the economic growth of the region can only be sustainable with ties and development of projects of trade and energy infrastructure regionally. Lack of consistency and sustainability has already impacted the GDP negatively, up to 2 to 2.5% per the World Bank’s study. A small example of LNG can go a long way. Pakistan can import and become an exporter to the landlocked Central Asian states through Gwadar. He mentioned that TAPI and IP gas pipeline projects are very good projects but the regional instability remains the hindrance. Pakistan has to mitigate the security risk and diversify its energy mix. 

Dr. Moeed W. Yusuf, the Former National Security Adviser of Pakistan, commented on the 92% of border sharing with 3 important countries, India, Iran, and Afghanistan yet due to geopolitical challenges the trade has potentially suffered. Geo-economy is the combination of regional connectivity, partnership, and collaboration. Most Pakistan maintains fences with Iran and Afghanistan and the movement of the trade should be streamlined in a way that the fence should be a facilitation rather than a hindrance to the regional trade. 

Ali J. Siddiqui, Former Ambassador of Pakistan to USA, said Pakistan could be the major connector with the Central Asian countries as well as China, Iran, and Afghanistan through various projects. To begin with small projects of energy, logistics, and optical fiber will pave the way toward the sustainability of cooperation. He mentioned the sudden change after peace in Afghanistan as a catalyst for putting the plans into action; hence Pakistan needs to transform it into opportunities. This is the best time for formulated discussions and subsequent decisions. 

Ghias Khan, President Overseas Investors Chamber of Commerce & Industry (OICCI), confirmed that Pakistan enjoys a complimentary relationship with Central Asian states and has much to gain given a solid infrastructure. 

Dr. Shamshad Akhtar, Chairperson, Pakistan Stock Exchange, SSGC & Karandaaz; Former Federal Minister for Finance; Former Governor, State Bank of Pakistan, joined online to share her expertise with ASEAN projects. She stressed the availability of a dedicated fund for the development of regional connectivity. 

Aamir Ibrahim, CEO Jazz (VEON) and Chairman, Mobilink Microfinance Bank, added that commerce is evolving and we are under-investing in a jaundiced way. We must recognize the value that Pakistan has to gain in the future.

Air Chief Marshal Sohail Aman (Rtd), Chief Executive Strategic Engagements, Nutshell Group, and Pakistan’s Chief of Air Staff (2015-2018), in his closing address, shared hope and a way forward for the wonderful discussion and insisted on this thought to be carried forward. 

 

BlueEX joins hands with ABHI, Pakistan’s first financial wellness platform, to offer its employees the facility of Earned Wage Access, giving them the freedom to access their salaries whenever they want, saving them from financial distress.

On a mission to financially empower salaried individuals, ABHI is changing the landscape of the payroll in Pakistan and how an average employee spends/receives their salary by introducing the Earned Wage Access facility in the country. On the other hand, BlueEX prioritizes its employees’ financial wellness and understands that increased productivity in the logistics industry of Pakistan is imperative to the country’s future growth. Therefore, this partnership will help enable this growth, while building the overall financially empowered ecosystem.

In light of this collaboration, Omair Ansari – CEO & Co-founder of ABHI, explained that “ABHI’s ultimate goal is to provide financial wellness solutions to all employees. You can only live a happier, healthier, and more productive life when you are not stressed about finances, which is the core of ABHI’s existence. This partnership with BlueEX to offer earned wage access to all its employees will bring some much-needed security and relief to them, enabling us to work towards a financially stress-free and productive Pakistan.”

 

Lahore (Muhammad Yasir) TECNO announced reduced prices for its recently launched devices. The latest Camon 19 Neo will now be available for PKR 37,999 instead of PKR 40,999.

TECNO has reduced the prices of quite a few devices including Camon, Spark, POP, and POVA devices. The latest Camon 19 Neo is equipped with the advanced technology 32MP Softlight Selfie Camera, 48MP Bright Night Portrait, and a Geometric Edge cutting Design. So the phone is not just powerful but stylish and iconic.

Camon 19 Neo comes packed with some powerful features including a Helio G85 processor, 6.78” FHD+ Display, 6+128GB Storage, 5000mAh powerful battery with an 18W flash charger, along with some of the most outstanding camera features.

The phone offers a brilliant 2k Video shooting, where users can enjoy Bokeh and other effects in the video as well as still photography. Not just these but the phone comes with special features for videography, vlogging, fashion shoots and other aesthetical captures.

The most fun is that the brand has further reduced the price for its amazing Camon 19 Neo. The powerful phone with stylish design has become a favorite of many fashion enthusiasts and sold thousands of units in no time.

So don’t wait anymore, hurry and get your brand new Camon 19 Neo for only PKR 37,999.

Lahore (Muhammad Yasir) CORPORATE PAKISTAN GROUP and Nutshell Group bring yet another groundbreaking event – Thought Leaders Dialogue – Pakistan: the Next Great Infrastructure Connector. The event will be held in Islamabad at a local hotel. 

Ambassador Ali Jahangir Siddiqui (Former Ambassador of Pakistan to the USA) will be presenting the keynote address on the theme of the session. Other esteemed speakers include

Senator Dr. Musadik Malik, Minister of State (Petroleum Division); Dr. Shamshad Akhtar, Chairperson of Pakistan Stock Exchange, SSGC and Karandaz, Former Federal Minister of Finance and Former Governor State Bank of Pakistan; Dr. Moeed W. Yusuf, Former National Security Advisor of Pakistan; Air Chief Marshal Sohail Aman (Rtd), Chief Executive Strategic

Engagements, Nutshell Group and Pakistan’s Chief of Air Staff (2015-2018); Ghias Khan, President Overseas Investors Chambers of Commerce and Industry (OICCI); and Mosharraf Zaidi, Founder, Tabadlab.

Muhammad Azfar Ahsan, Founder of Nutshell Group and CORPORATE PAKISTAN GROUP (CPG), and Former Minister of State and Chairman of Board of Investment, believes that “Pakistan’s location is its core strength and will determine its rise as the most influential of energy corridors for regional prosperity. It will also directly impact and improve Pakistan’s prosperity, stability, and security.’’

Nutshell Group and CPG Leadership found the article by Ambassador Ali Jehangir Siddique on ‘Pakistan: The Next Great Infrastructure Connector,’ published by Atlantic Council Global Energy Sector and Atlantic Council South Asia Sector, to be a perfect reason to curate this Dialogue. The geo-strategic position has been Pakistan’s strength since its inception. Pakistan provides the key corridor to both China and Central Asia. Its location and the potential opportunities associated with it, have always been instrumental in shaping its foreign policy and economic progress.

Opportunities for connectivity in terms of trade, digital and overall economic impact, are crucial for Pakistan as a corridor. The Dialogue will be a significant step toward an understanding of working with and formulating the best policies to benefit from this conduit. 

With Belt and Road Initiatives (BRI) and changing political dynamics, Pakistan’s position can and will be an important element in regional commerce. Nutshell Group and CPG, through this Dialogue, will bring the audience’s and stakeholders’ focus on the significance of Pakistan as a regional energy, infrastructure, and digital connector and corridor. It will also outline the policies that will be needed to best utilize this conduit. Historically, Pakistan has not been short of a good policy structure, but the implementation of the same has been a challenge. It is this challenge that the Dialogue will be resolving for establishment of the most effective infrastructure for connectivity in all aspects. An impressive array of speakers belonging to domains ranging from Banking, Economics, and Public Policy to Digital Space and National Security, as well as experts from the corporate sector and the Government, will be sharing their expert views and putting together recommendations for the way forward. Nutshell and CPG are both focused on providing support and facilitation in helping public and private sector stakeholders for Pakistan’s rise in the region, which will favorably impact Pakistan’s economy. 

The focus of the Dialogue will be on geophysical, political, and digital infrastructure and policies for the next decade. An interactive discussion session at the end of the Dialogue will cater to a better understanding of placing Pakistan’s strategic location and infrastructure’s importance at the core of the regional development progress.

International Industries Limited (IIL) arranged a grand event for the launch of its 

new product of the polymers category “IIL UPVC Pipes and Fittings”.

Lahore (Muhammad Yasir) International Industries Limited (IIL) arranged a grand event for the launch of its new product of the polymers category “IIL UPVC Pipes and Fittings” at the Pearl Continental Hotel in Lahore. Over 220+ customers with renowned architects, engineers, contractors, builders, and key industry professionals from all over the country attended the event. The launch of IIL UPVC pipes and fittings now maintains IIL as a all under one roof piping and fittings solutions company in Pakistan.

IIL UPVC Pipes and fittings provide an easy and reliable sewerage system for residential, commercial, and industrial projects. With over 50 years of pipe manufacturing experience, IIL is proud to introduce UPVC pipes and fittings which are manufactured in IIL’s state-of-the-art facility using the highest quality raw materials and adhering to the highest international standards.

International Industries Limited is Pakistan’s largest manufacturer of steel and polymer pipes with an annual manufacturing capacity of 817,000 tons and annual revenues of PKR 37.8 billion. IIL is a part of Amir S. Chinoy group of companies which include International Steels Limited and Pakistan Cables Limited.