Category: Business

Lahore (Nut Desk)

Dr. Miftah Ismail, Finance Minister, and Shaukat Tarin, former Finance Minister, agreed on forming a Charter of Economy among the political parties while putting aside political differences for sustainable economic growth on a long-term basis. Speaking as chief guest at the webinar on National Dialogue on Economy: The Way Forward for Pakistan, organized by Nutshell Conferences and Corporate Pakistan Group, on Saturday, Miftah Ismail said Prime Minister Shahbaz Sharif is ready to sign the Charter of Economy on a minimum agenda despite different ideologies of various political parties. He said the growth in the economy is achievable in Pakistan with its huge size of the population but the sustainable economic growth has been a challenge over the period last years, which needs to be addressed mutually by everyone in the government and the private sector. Consistency is the key to economic policy and the present government should honor the commitment made by the previous government as part of the sovereign guarantees of the country and international laws.

Pakistan needs nearly $37 billion for the next year for the purpose of paying loans to various agencies and countries, controlling the current account deficit, and building the required foreign exchange reserves but these could be done only with the signing of a program with the International Monetary Fund(IMF).Going forward, the government will focus on discouraging import-led growth in the economy, whereas the manufacturing sector should be given preference to enhance exports, Miftah said and added. The government will work on revolutionizing the agriculture sector, which will particularly meet the local demand for food items. He said the government will not impose any ban on traveling, raw materials, and essential items but only on luxury and non-essential items. Also, the tax rate will not be increased on the income of the people, he added.

Former Finance Minister Senator Shaukat Tarin said the Charter of Economy is very important for the country which he proposed many years ago. Political differences should be put aside and the economic agenda should be agreed upon. A few of the next months are difficult ahead but the situation will be improved after the general elections, he added. Pakistan needs inclusive and sustainable growth for a long period of time. In this regard, the saving-to-GDP ratio and tax-to-GDP ratio should be increased with incentives and schemes in the next five to six years. The gap between export and import stands at 12% which should be reduced to 6% and to zero in the next few years, Tarin added. The former minister suggested the central bank and the government to issue new licenses to banks on the basis of regional boundaries.

Ghias Khan, President Overseas Investors Chamber of Commerce (OICCI) said a long-term and consistent policy is in dispensable to attract businessmen and foreign investors. Pakistan should focus on its food and energy security on a priority basis. Also, Pakistan should focus on technology services which has immense potential to enhance exports and local productivity, Ghias Khan. The country needs to enhance the production of wheat and essential crops for meeting its local demand and boosting exports of agri-products. Further, he added the country is rich in mineral resources which can be translated into its lucrative exports. The investment should be encouraged in the productive sector instead of the real estate: We have to build skillset of the young population to make their role more productive in the economy.

Muhammad Aurangzeb, Chairman Pakistan Business Council (PBC) said the cross-party consensus is very important in Pakistan because the business needs sustainability and the consistency of policy. Hence, the Charter of Economy is the need of the hour, he added. There is no dearth of thinking prescriptions in the country but we need timely decisions and timely execution, he added. We have to focus on capacity building of our youth in every sector which will ultimately produce results in the economy. We have to make an enabling environment for freelancers, which are growing in numbers in Pakistan.

Farrukh Khan, Management Director Pakistan Stock Exchange (PSX) said the political challenges should be addressed in the first place before going to fix socio-economic issues in the country. The government is focusing on the documentation of the economy but the aspect of taxes should be realized to stabilize it, he added.

Political stability is very important when it comes to attracting foreign investment and boosting local investment in the country said Amjad Waheed, CEO NBP Fund Management Limited. The privatization of the State-owned Enterprises (SECs) as these are eating up over Rs 1 trillion of the valuable revenues every year whereas the government’s expenditures and debt of the country should be reduced gradually, he added.

The yield of Pakistan’s agricultural land should be enhanced which could be done through various measures including farm mechanization and the supply chain management for effective gains of the agriculture sector, said Maheen Rahman, CEO Infra Zamin. We should focus on energy sufficiency, agriculture and food security, and business efficiency, she added.

Lahore (Muhammad Yasir) Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has partnered with DIGIT, a leading technology brand of Swift Biz Solutions Pvt. Ltd. in Pakistan, to bolster Pakistan’s digital and financial ecosystem. Under this strategic partnership, MMBL will accelerate digital inclusion by enabling its deposit account customers to purchase DIGIT smartphones (Glory1, Play1 & Energy) at an affordable and subsidized price from selected MMBL branches. Ghazanfar Azzam, President & CEO of MMBL, and Abdul Rehman Mahmood, Founder & CEO of DIGIT signed the partnership agreement, in presence of senior officials from both organizations.

Through this alliance, MMBL will allow new and existing deposit account customers to perform daily transactions such as fund transfers, utility bill payments, mobile top-ups, and other services via the preinstalled DOST APP in the Digit 4G smartphone or by using the DOST USSD code i.e. *8792#.

Sharing his thoughts at the signing ceremony, Ghazanfar Azzam, President & CEO of MMBL said: “As a market leader in digital banking, we continue to focus on introducing customer-centric digital financial solutions for bridging the digital divide and promoting financial inclusion across the nation. Our collaboration between MMBL and DIGIT will not only make digital banking accessible for our customers but also supplement the deployment of customized financial products and services on smartphones as well as smart-enabled feature phones.”

On the occasion, Abdul Rehman Mahmood, Founder & CEO of DIGIT, said, “Currently, a large segment of Pakistan’s population is lacking the opportunity to join the global digital revolution and financial inclusion. We are pleased to partner with Mobilink Microfinance Bank for this strategic partnership. DIGIT is a ‘Made in Pakistan’ brand for the people of Pakistan, and innovation with affordability is the key to the success for us. We have introduced the first of its kind affordable Touch and Type Smartphone (DIGIT Energy) for the masses. We are also planning to introduce Buy Now Pay Later for our phones. Our partnership with MMBL will help in bringing banking facilities to customers in every corner of the country.”

Deposit account customers interested in purchasing the DIGIT smartphones will be required to fill out a form. The handset will then be delivered to the mentioned postal address via Cash on Delivery (COD). Customers can also visit the nearest DIGIT retailer shop for buying phones. Moreover, for registering any complaints, customers can call the UAN at 0304-111-4123, which will be resolved within 24 hours.

MMBL has ensured continued top-line growth in the digital banking sector. Through its strategic partnerships, MMBL is committed to banking the underserved and unserved customers with innovative digital financial solutions. In line with the Bank’s unwavering commitment to fostering digital inclusivity, MMBL is continuously exploring new avenues to improve its portfolio that uniquely serves its customers’ growing financial needs.

Lahore (Muhammad Yasir) Easypaisa, Pakistan’s leading digital payments platform, has introduced yet another innovative feature enabling users to earn daily profits through a single click. Easypaisa users can now use the in-app savings product to earn a percentage on their existing account balance every day.

The revolutionary product is designed to financially empower all Pakistanis to take control of their finances through convenient and secure digital savings. By simply clicking ‘Subscribe’ to any of the available plans, Easypaisa App users can immediately start earning up to 9% annual profits, posted daily with no hidden restrictions. No amount of users’ funds are locked; all they have to do is maintain a higher balance than their chosen plan threshold and keep making profits. Whether an existing Easypaisa user or a new one, the savings product is available for everyone.

Commenting on the development, M. Mudassar Aqil, CEO, Easypaisa and Telenor Microfinance Bank said; “As a predominantly cash-based economy, there has always been room for improvement in saving habits of Pakistanis. With a major share of household budgets already allocated to basic sustenance needs, most people across the country struggle to save. At Easypaisa, we remain committed to empowering everyone to take control of their finances through convenient digital means and our in-app savings product is a key step in this regard. Now, practically anyone can start saving and earn profits daily through their Easypaisa account without any entry and exit barriers”.

With more than 10 million customers using the Easypaisa App in the last 30-days across the Android and iOS platforms, Easypaisa is the most used Pakistani App across all categories and remains committed to transforming Pakistan into a cashless and financially inclusive society through the power of collaboration & technology.

Lahore (Muhammad Yasir) 16^th International 3P Plas Print Pack Pakistan – Country’s Pioneer and Biggest Exhibition for Plastic, Printing and Packaging industry organized by FAKT Exhibitions (Pvt.) Ltd. opened its doors on 29^th May 2022 at Expo Centre, Lahore.

The exhibition was inaugurated by Chief Guest – Mr. Irfan Iqbal Sheikh, President The Federation of Pakistan Chambers of Commerce & Industry (FPCCI), Mr. Saleem Khan Tanoli – CEO FAKT Exhibitions (Pvt.) Ltd. and other renowned industry names.

On this occasion, President FPCCI stated that “FAKT Exhibitions has taken a wonderful initiative by organizing 3P Plas Print Pack Pakistan Exhibition, which will provide a rewarding opportunity for Plastic, Printing and Packaging industry to demonstrate state-of-the-art machinery and technology. He further added that exhibitions like 3P Plas Print Pack Pakistan Exhibition have played a pivotal role in strengthening our industries, providing business, employment opportunities and uplifting the economy of Pakistan.”

The mega exhibition received an overwhelming response, more than 150 companies participated from 15 countries like Austria, China, Denmark, Deutschland, Germany, Italy, Netherland, Singapore, Spain, Sweden, Switzerland, Taiwan, Vietnam and UK etc. The exhibitors displayed a wide and exquisite range of innovative machinery, technology and solutions for Plastic, Printing and Packaging industry.

3P Plas Print Pack Pakistan Exhibition will last till 31^st May 2022 and is expected to attract around 10,000 trade visitors, providing them an ideal opportunity to meet with the leading local and international companies of Plastic, Printing and Packaging industry.

 

 

 

 

 

Karachi (Muhammad Yasir) The Institute of Business Administration (IBA) Karachi’s Centre for Excellence in Islamic Finance (IBA CEIF), has been actively working for the promotion and development of Islamic Finance. One of their focus areas is promoting innovation and research in the field of Islamic Finance focused at sustainable national and global economic development. In this regard, the IBA CEIF is organizing the World Islamic Finance Forum (WIFF) 2022 at Movenpick Hotel, Karachi, on May 30-31, 2022.

To launch this conference, a press conference was organized by the IBA CEIF at the IBA City Campus, Karachi which was attended by Dr. S Akbar Zaidi, Executive Director, IBA Karachi; Dr. Ishrat Husain, Chairman, IBA CEIF; Mr. Ahmed Ali Siddiqui, Director, IBA CEIF; Mr. Irfan Siddiqui, President & CEO, Meezan Bank Limited; Mr. Yousaf Hussain, President & CEO, Faysal Bank; Dr. Muhammad Imran, Group Head Islamic Banking, Bank Alfalah Limited; Syed Nayyar Hussain Zaidi; Executive Director, Salaam Takaful Limited; Muhammad Irfan Ahmed, Head, Shariah Compliance, BankIslami Pakistan Limited; and Dr. Irum Saba, Associate Professor & Program Director, MS Islamic Banking and Finance, IBA.

Dr. Saba delivered the opening remarks, followed by Dr. Zaidi who appreciated the efforts of IBA CEIF as they play a foremost part to integrate academics with industry practices in the field of Islamic Finance. Dr. Zaidi mentioned that more than 50 speakers from Malaysia, Qatar, UAE, USA, UK, France, Turkey, Bahrain and Pakistan will speak at the conference. According to Dr. Husain, WIFF 2022 will bring industry leaders, Shari’ah Scholars, policy makers, academicians and students together to provide solutions for the existing challenges faced by the Islamic Finance industry. He further referred to the International Credit Rating Agency Report by Moody’s which appreciated the efforts of the Islamic Finance industry reflecting 24% growth.

 

Lahore (Muhammad Yasir)  Jazz, Pakistan’s number one 4G operator and the largest internet and mobile broadband provider,  has signed an agreement to connect all of its Mobile towers directly to fiber in Lahore. Fiber infrastructure and services provider, Nayatel, has partnered to lead this Fiber to the Site (FTTS) project, which is expected to complete by December 2022.

 

FTTS is a network connectivity solution that enables each cell site to carry up to 10Gbps of traffic at significantly lower latencies and enhances network availability and resilience. Upon the completion of this project, Jazz subscribers will experience faster download speeds, lag-free online gaming, and improved audio and video calls over IP applications. The infrastructure will pave the way for future technologies (5G/6G) which require low latency and high throughput backhaul to operate.

“Digital transformation across the country increasingly requires high-bandwidth solutions with the demand for data and speed increasing exponentially. Fiberization showcases our commitment to delivering a consistently fast and reliable internet solution; and is crucial if we are to build a digital ecosystem which compliments the users evolving lifestyle needs,” said Jazz’s Chief Technology Officer, Khalid Shehzad.

The demand for high-speed mobile broadband is growing at an unprecedented pace. This growth is driven by a rise in digital media applications. At the same time, work-from-home practices have also contributed to a rise in low latency requirements for current mobile networks. There is an urgent need to deliver more data through advanced and expanded fiber networks while maintaining high network availability.

Speaking at the project announcement ceremony, Nayatel’s CEO, Wahaj Siraj, said, “This partnership opens new horizons for the implementation of high-speed data connectivity. Nayatel has always pursued a vision of providing quality internet, cable TV and phone services to its customers. Now, we are aiming to facilitate digital transformation by working with Jazz to build the infrastructure required to bring Pakistan at par with the most developed countries of the world.”

In the last two years, Jazz has invested US$ 560Mn towards its strategic focus on connecting the unconnected to high-speed internet, and upgrading its 4G infrastructure to fulfill the growing bandwidth demand.  The mobile operator currently has a vast fiber network carrying live customer traffic across 26 cities. Plans are underway for further expansions targeting 70% FTTS penetration in the next 5 years. A densely fiberized, future-ready network, will form the foundation for many next-gen services such as 5G, FTTH, IoT, enterprise networks, and Industry 4.0. 

Lahore (Muhammad Yasir)  Ufone 4G is at the forefront to support women’s empowerment in the country, hence, the Pakistani company is committed to significantly expanding its female customer base.

Through its commitment with the global association of mobile operators, the GSMA, Ufone 4G aims to bring high-speed connectivity to more Pakistani women to enhance their participation in the mainstream socio-economic system.

The initiative underpins Ufone 4G’s long-term commitment to bringing every Pakistani citizen into the fold of digital inclusion for positive socio-economic outcomes. Therefore, the company is focused on reducing the gender gap in access to connectivity and helping women leverage the Internet to explore opportunities for personal and professional growth.

The company has exhibited its strong commitment to fostering gender inclusivity through various initiatives.  Ufone 4G boasts a significant female user base, mainly due to its women-centric use cases and communication focused on the specific call and data needs of women. These use cases helped Ufone 4G deliver products and services to women with different professional backgrounds, duly tailored to suit their call and data needs and routine.

Also delivering on women’s safety and privacy needs, Ufone 4G introduced an industry-first Smart code *765# so that women customers can receive mobile top-ups without having to share their phone numbers with retailers. Just recently, Ufone 4G donated its flagship Wifi internet devices to the participants of the Khyber Pakhtunkhwa Women Civic Internship Program to support their pursuit of personal and professional growth.

Ufone 4G acknowledges that women play a vital role in the prosperity of a country, therefore it never shies away from providing equal opportunities to them to spur their pursuit of finding a constructive and meaningful role in the society.

Lahore (Muhammad Yasir)

The globally eminent smartphone brand, TECNO, was the winner of the Fastest Growing Brand of the Year Awards 2021. Working hard to bring the best and latest technologies to its users, Camon 18 Series was the top-selling series of TECNO in the fourth quarter of 2021 due to its exceptional photography and camera features.

Brands Foundation, the organizer of “Brand of the Year Awards”, is the only non-profit public company in its area to conduct a healthy competition among Local, National, and Multinational Brands in Pakistan. The foundation conducts brands’ quantitative & qualitative surveys, focus group analyses, brands market studies, brands ratings, and brands audits.

After multiple phone launches, TECNO has successfully expanded its business from Africa to more than 70 countries and regions around the world. By adhering to its core strategy of “think globally, act locally” (Glocal), TECNO has reached millions of users worldwide.

The Management and Team Brands Foundation extend their heartiest congratulations to Team TECNO on their Achievement & well-deserved success. Kelvin Zeng, CEO of TECNO Mobile Pakistan expressed his joy on this occasion,

“We are overwhelmed by the appreciation and love we have received from our Pakistani consumers. The team has worked hard to deliver its best so that maximum people can be equipped with the latest technologies. The Camon 18 series received great sales, earning a greater reputation in the Camera and Design categories. The upcoming Camon 19 Series will also be launched soon in Pakistan for which we expect the same zeal from the users.”

TECNO will soon unveil its new camera series in Pakistan with four different variants. The Camon 19 series is expected to become a hot seller in no time with its stylish design and advanced camera technology.

 

 

The pre-order stock of realme C35 was sold-out online within the first five days of its pre-order announcement, setting the stage for one of the hottest selling C-Series debuts for realme.

realme is debuting its first C-Series smartphone of the year – realme C35 in Pakistan today, following tremendously successful sales run in European and South Asian markets. The realme C35 drew online pre-orders in droves by selling out all of its stock within the first five days. Now, the C-Series hot seller, with its Glowing Silk Design, 50MP AI Triple Camera and 6.6-inch FHD Display is about to storm the offline markets all across Pakistan.

realme prides itself on being an innovator in its field, dreaming up impressive technology and creative designs for its multiple series of phones. For the latest entry in the budget-friendly C-Series, the realme C35, the rising smartphone brand has taken inspiration from one of the world’s oldest and richest materials – silk. realme’s C-Series has amassed a legacy of providing high quality smartphones with realme’s tech democratization efforts for consumers that are on a budget. The realme C35 was engineered with the Glowing Silk Design to pay homage to the precious silk material and emulate its characteristics through the language of design.

Modeled after silk, the realme C35 has a premium look and feel to it. The budget handset aims to provide a sense of luxury you might associate with silk woven clothing. Its aesthetic is similar to phones in a higher price bracket, being clean, simple, yet attractive. Silk was regarded as a symbol of wealth and status in ancient Chinese society. With the realme C35 you can look expensive without having to spend luxuriously. While it is not commonly known, silk is among the strongest textiles on the planet, having unbelievable tensile strength and elasticity.

This has inspired the highly durable design of the realme C35. Undergoing rigorous testing by TUV Rheinland, the realme C35 has proven that it can endure falls, scratches, and that its components are reliable, earning it a TUV Rheinland High Reliability Certification. The endurance of silk has also inspired the long-lasting 5000mAh battery found in the realme C35. Like silk, the realme C35 is smooth to the touch and shimmers in the light. The realme C35 is ultra-thin, having a thickness of only 8.1mm, making it thinner than most of its competitors. This is symbolic of silk which is also a thin, smooth material. The silky smooth experience also extends to the smartphone’s display as it features a 16.7cm (6.6”) FHD Fullscreen that can provide a resolution of up to 2408×1080 so you can see richer details.

The realme C35 really helps you stand out from the crowd in the best way possible. Apart from all the eye-catching features already discussed, the realme C35 comes equipped with a powerful 50MP AI Triple Camera so you can capture the best images while you look your best. Silk’s history of being kept away from the world because of its value only to be shared with the world at a later stage also mirrors realme’s efforts with democratizing technology over the years which was first locked into more premium segments. realme believes that luxury shouldn’t be hidden behind a steep price tag and that luxury is a feeling everyone deserves. You can get your very own slice of luxury at an affordable price when the realme C35 becomes available for sale all over Pakistan for just PKR 32,999/- on Saturday, May 28, 2022 so mark your calendars!

DUBAI (NUT DESK) Muhammad Azfar Ahsan, Founder and CEO Nutshell Group, and Founder Corporate Pakistan Group, received the “Global Visionary Award for Global Connectivity of Businesses and Communities” by the BSV Blockchain Association at a convention held in Dubai.

He is the first Pakistani businessman to have received this recognition at the Global Blockchain Convention – a global platform to highlight new blockchain innovations, big ecosystem announcements, new product launches, technology updates, keynote speeches, panels, and fireside chats from global blockchain leaders.

Speaking on the occasion, Mr. Ahsan said that global recognition from this prestigious forum was an honor for Pakistan and Pakistani businessmen.

He urged fellow Pakistanis to explore innovative, new trends of emerging opportunities in business and investment in order to keep the country at par with global dynamics. He said we are already on the right path. Pakistan was performing well in the domain of knowledge and technology output among the regional countries as its ranking in the Global Innovation Index had improved from 137th in 2013 to 99th in 2021.

Delivering his keynote speech on ‘New Technologies, New Futures for Nations,’ Mr. Ahsan said: “Blockchain technology is one dimension of overall knowledge economy providing a promising future for different domains, such as the real estate industry, the Internet of Things (IoT), the supply chain management (SCM), the healthcare industry and the financial services industry.”

This year, the Global Blockchain Convention had more than 120 international speakers and 1,000+ delegates from over 50 countries