Category: Business

Karachi (Muhammad Yasir) Overseas Investors Chamber of Commerce and Industry (OICCI) has announced the key findings of its latest Intellectual Property Rights (IPR) Survey. Overall, 37% of the respondents indicated that it takes 1 to 3 years to resolve a standard IPR dispute and 22% stated that it takes more than 5 years. Respondents also expressed concern regarding the penalty on IPR violation being insignificant and not sufficient to act as a deterrent. Moreover, the IP Tribunals were not fully functional in all three major cities of Karachi, Lahore and Islamabad.

The OICCI IPR Survey 2021 conducted in late 2021 reflects the assessment of the foreign investors, on the state of intellectual property protection in Pakistan. Effective protection of IPR comprising of Copyrights, Patents and Trademark is critical for attracting and retaining Foreign Direct Investment (FDI) in the country.

The foreign investors participating in the survey showed higher satisfaction (from 17% in 2020 to 37% in 2021) on  IPOP, the IPR regulator in Pakistan, and have urged IPOP for taking a more leading role in ensuring the effective IPR regime in the country. OICCI members have asked IPOP for support in strengthening IPR regime by automating and fast tracking the process of registering IP, massively promoting awareness on the importance of IPR and its impact for business/investment, and in improving the skills of LEAs to proactively stop the abuse of IPR.

Currently, all the OICCI members rely on their own resources for monitoring threat of IPR violations. However, there is a great desire for all the IP owners to work in partnership with the government authorities for a better IPR regime in Pakistan. Serious lack of awareness and appreciation about IPR, lengthy timelines for granting IP rights, long drawn judicial proceedings, inadequately trained staff at LEAs and low penalties prescribed under IPR laws for IPR violations, were some of the key concerns highlighted in the survey. Irfan Siddiqui, President OICCI, while commenting on the survey results shared that “Foreign investors’ concerns on the effectiveness of IPR regime are supported by the loss of revenue which as a percentage of organization’s three-year turnover ranges from 1% to 30%. This in turn is causing significant loss to national exchequer as well”. 

Concluding the OICCI IPR Survey 2021 results, CEO / Secretary General OICCI, M Abdul Aleem expressed his concerns on the low level of attention by key stakeholders being given to IPR. He added that “More than two-third (2/3rd) of the respondents feel that the issue does not fall amongst the top priorities of the Law Enforcement authorities (LEA), government, media and even the public”. He emphasized that IPR protection is a collective responsibility and called all the key stakeholders especially the media and government authorities for support in this regard.

Lahore (Muhammad Yasir) Karandaaz Pakistan successfully hosted a two-day hackathon, called HACKADESIGN, in partnership with Pakistan Fintech Network (PFN), Pakistan Fintech Association (PFA), and IDEATE Innovation at a local hotel. The Hackadesign was a financial services design competition held between more than ten teams comprising of fintechs, product managers and UX enthusiasts. The participants gathered in Hive and used a human centered design process moderated by a design expert to prepare creative design prototypes of bank account opening process using a mobile phone application.

A good mobile application design must include: i). A simplified user experience; ii). An inclusive experience enabling omni-channel access; iii). A personalized touch; and iv). A seamless process that can be completed in a few steps. At the end of the second day, the teams presented their prototypes to an esteemed panel of judges from the financial industry including Ms. Naureen Hayat, Shariq Mubeen, Syed Faraz Javed and Raza Matin.

After through deliberation, the judges declared Unikrew Solutions (Pvt) Ltd as winners, while the students of Information Technology University were declared runner up of the Hackadesign. The representatives of the winning teams received prizes from Dr Shamshad Akhtar, Chairperson Karandaaz Pakistan. In her keynote speech, Dr Shamshad Akhtar mentioned that, ‘”Distance to a bank branch and cumbersome account opening process are key barriers to financial inclusion.

According to the latest Financial Inclusion Insights Survey of Pakistan, about 37% of the financially excluded stated ‘no banks nearby’, while another 30% stated ‘not having required documents at the time’ as key reasons for not having a bank account. So I think this workshop is not only needed but also opportune, given the numerous regulatory enhancements introduced by the SBP, including the recently unveiled Digital Banking Regulation.

It gives me pleasure to share that a total of 171 applications were received out of which more than 50 applicants comprising 12 teams were shortlisted for this workshop and I sincerely hope that some of the designs are picked up by the financial institutions for designing their digital onboarding process.” 

Karachi (Muhammad Yasir)

Official meeting between the Honourable Governor of Sindh Imran Ismail and LADIESFUND President Tara Uzra Dawood to discuss the facilitation and strengthening of Gender Inclusivity in Pakistan. For the last several years, the Governor’s office and Dawood Global Foundation LADIESFUND have supported many initiatives for women empowerment, education of girls as well as the launching of The Buraq Center by LADIESFUND, an all-female incubation center and co-working space.

The fruitful meeting resulted in a confirmation that the 13th LADIESFUND Women’s Awards for Pakistan 2022 would be held on Saturday, 5 March 2022 at Sindh Governor’s House.

This highly anticipated event honours the most extraordinary and noteworthy women in Pakistan and includes People’s Choice Awards for Trailblazer, Momentum and Woman of the Year awards, as well as honours Lifetime Achievers, courage, and awards across sectors. It also celebrates women’s contribution towards the economy and job creation.

Lahore (Muhammad Yasir) Pakistan Telecommunication Company Limited (PTCL) has signed a Memorandum of Understanding (MoU) with Special Communication Organization (SCO)at PTCL Headquarter Islamabad to explore potential collaborative opportunities for growth of telecom services across Pakistan, with special focus on AJK and GB.

The signing ceremony was attended by HatemBamatraf, President & GCEO, PTCL &Ufone and Major Gen Muhammad Shahid Siddeeq, DG SCO, along with senior officials from both organizations.

The MoU will facilitate multi-level cooperation between the leading telecom players to foster resource efficiency and growth of telecom services nationwide, especially in the remote mountainous regions of AJK and GB. The arrangement will facilitate passive network sharing and SCO’s backhaul support for the launch of PTCL’s Fixed Wireless Access (FWA) service in AJK & GB through its 3500 MHz spectrum.

The telecom operators will offer their respective fiber assets for backup/redundancy to ensure uninterrupted high-quality services on a reciprocal basis and jointly build access networks in cantonments and other similar locations.

In addition, the companies will undertake multiple collaborative ventures including Multi-Operator Radio Access Network (MORAN), active elements sharing of cellular network, data national roaming and a range of other ICT solutions to increase their incremental revenues as well as deliver high-quality telecom services to their customers round the clock.

On the occasion, Hatem Bamatraf, President & GCEO, PTCL &Ufone, said, “We are excited to collaborate with SCO to expand our shared ambition of bringing superior telecommunication services to our customers.  Together, we will help bridge the digital divide in the country, especially in the remote regions to help unlock their full potential.”

On the occasion, Major Gen Muhammad Shahid Siddeeq, DG SCO said, “We are pleased to partner with PTCL for upscaling telecom services in AJK and GB, where SCO has played an instrumental in connecting the masses through high-quality internet and cellular services. Through our efforts, we hope to providean inclusive and equitable environment that will ensure progress and growth.”

PTCL being a national company,endeavors to contribute towards the economic development and prosperity of Pakistan.

Lahore (Muhammad Yasir) Dubai Islamic Bank and TPL Life Takaful signed a MoU whereby customers will be offered unique BancaTakaful plans that will be distributed through the Bank’s distribution channels & customer touchpoints such as Branches, Call Centre & Digital Channels.

The MoU was signed by Mr. Junaid Ahmed CEO, Dubai Islamic Bank and Mr. Ali Jameel CEO, TPL Corporation at a ceremony held at Dubai Islamic Bank’s Head Office in Karachi . The ceremony was to commemorate the partnership aimed at expanding BancaTakaful collaboration in the market. Both the entities will work cohesively to further explore other avenues of business.

Speaking on the occasion Mr. Junaid Ahmed – CEO, Dubai Islamic Bank said that “Dubai Islamic Bank is at the forefront of offering innovative Shariah compliant products and services to cater to our customers needs. TPL Life Takaful will be an important addition to our existing product suite which will allow customers to go for Shariah compliant Life Takaful products. Being the World’s First Islamic Bank, we are investing in an ever-changing Digital environment where we are focusing on enhancing customer experience in shape of – Banking on the Go!”

Mr. Ali Jameel – CEO, TPL Corp said, “We are pleased to expand our 15 years-long business relationship with Dubai Islamic Bank through this new partnership. TPL Corp with its diverse portfolio continues to serve Dubai Islamic Bank’s customers with Innovative products and technological solutions. This signing will further enable consumers to access cutting-edge value propositions through the bank’s branches & Digital Channels.

Dubai Islamic Bank offers a wide range of Shariah compliant products through its 235 branches across 70 cities nationwide.  

TPL Life Insurance offers an extensive suite of life and health insurance solutions to address a range of segments including corporate, retail, micro-health, and e-commerce digital consumers. Its life, health insurance, and savings solutions ensure complete protection for customers giving them access to better healthcare, securing their dreams for the future, and providing a financial cushion for any unforeseen life event, accident, or illness. 

Karachi (Muhammad Yasir) Nutshell Group and Martin Dow Group hosted the 5th edition of Pakistan’s largest corporate event ‘The Future Summit’ with at a local hotel. Governor of Sindh, Imran Ismail addressing the Future Summit lauded the working of SBP under the leadership of Dr Reza Baqir. Referring to the government decision to not go for lockdown during coronavirus pandemic the governor said, “Whatever decision Imran Khan takes, at first it seems to be unrealistic or incorrect but later it proves to be right in all the aspects.” Governor State Bank Pakistan (SBP), Dr Reza Baqir while addressing The Future Summit said, “It’s a moment of great pride for Pakistan that we successfully controlled the global average of covid cases.”

Dr. Reza Baqir appreciated the efforts of NCOC (National Command and Control Center) and the initiative of the Ehsaas Cash Program which played a vital role in tackling the COVID pandemic. Governor SBP also said that amid the coronavirus pandemic, the World Bank has also praised the initiative of the Ehsaas Cash Program and despite the coronavirus surge, Pakistan has significantly declined the level of its Debt to GDP ratio.

Speaking on the occasion, Chairman Martin Dow Group, Ali Akhai said, “This Summit comes at an opportune time when the global playing field has a new environment with new rules. The Summits’ theme – “What’s Coming Next” is possibly the most important subject for the next 10 years, as it addresses life in the new world as we know it. There’s a lot to debate, and even more, to accept the realization of change.”

Ali Akhai also said, “Today, after 2 years of the pandemic, the change continues, and has become a constant part of the new normal. Importantly What’s Coming Next, is a higher standard of competition in quality, localisation, consolidation, digitization, adaptability, and of course, rapid & constant change.” Former Chief of Pakistan Air Force, Air Chief Marshal Sohail Aman who is also the Chief Executive Strategic Engagements of Nutshell Group in his address at The Future Summit said that nothing will happen by just discussing the existing problems, better is to go for a rational solution to the crises.

Air Chief Marshal Sohail Aman also said that “Greater the challenges are, bigger is the opportunity and it is the need of the hour to exhilarate the impetus of motivation among the organizational workforce as they will take your companies to the ultimate success. “Collective efforts and mutual coordination is required to tackle the rising impact of the Omicron Variant”, the former PAF Chief said and added that employee empowerment in the organization is mandatory and this objective could be attained by selecting the right person for the right job.”

President and CEO, Engro Corporation Ghias Khan while expressing his views during a dialogue session with CEO Jaffer Business Systems Pvt Ltd, Mr Veqar ul Islam at The Future Summit said “The structured issues of Pakistan remained same in the recent years, but due to the unending wave of covid it augmented to a much higher level.” He also said that “Technology has driven much of the segments of businesses; presence of technology and acceptance of a hybrid world is a good omen. We cannot progress unless we are fully capable of selling our services to the entire world by increasing the exports level and regional connectivity.”

Former Governor SBP and Chairperson Pakistan Stock Exchange, Dr Shamshad Akhtar said ‘’Climate Change needs immense attention from the global world. She expressed her concern that the share of public expenditure for tackling climate change is not adequate. Dr Shamshad Akhtar said we need to devise effective strategies for managing the changing impact of climate and must develop a robust financing network to deal with its consequences systematically.

Former Governor SBP also said that infrastructure development is a very important presence. Pakistan needs to double its GDP ratio for infrastructural development and we need to utilize alternative sources of energy and the right taxation schemes will prove to be fruitful in near future.

President and CEO Faysal Bank Yousaf Hussain speaking at The Future Summit said that we need to realize customer needs and requirements of the workforce. Empathy along with speed of the change and the external partnership is very important.

CEO K-Electric, Syed Moonis Alvi speaking on the occasion said, “We need to tell Karachiites that the ‘K’ in K Electric is not Karachi, it actually explicates ‘Kinetic’. KE’s jurisdiction is beyond the scope of the Karachi itself and so its dominion for power generation is automatically much larger. The future is digital. The power utility has come a long way in incorporating this aspect on a routine basis and the KE app is a testament to that – a model that should be emulated by other DISCOS nationally”.

Lahore (Nut Desk)

Tech Valley and DEMO empowered 3000 women of Khyber Pakhtunkhwa through digital skills under KP Youth Employment Program

Khyber Pakhtunkhwa IT Board, Peshawar, Khyber Pakhtunkhwa: While celebrating the success of empowering 3000 women of Khyber Pakhtunkhwa on employable digital skills under Women Empowerment Through Digital Skills Program, a graduation ceremony was held at Khyber Pakhtunkhwa IT Board, Peshawar, which was attended by hundreds of females from seven districts of Khyber Pakhtunkhwa. The event included employers and other notable dignitaries while the chief guest of this event was Honourable Minister for Science, Technology and IT, Khyber Pakhtunkhwa, Mr. Atif Khan.

Amid the COVID-19, KP Youth Employment Program, the flagship program of KP IT Board, started an initiative named “Women Empowerment through Digital Skills,” which aimed to ensure women’s inclusion in the digital economy. The project was supported by Khyber Pakhtunkhwa IT Board, funded by Multi-Donor Trust Fund and The World Bank.

Tech Valley, along with DEMO, being the advocate of women empowerment in the region and known for its capacity-building programs, progressed to implement this program in the seven districts of Khyber Pakhtunkhwa. The goal was to empower 3000 women of Khyber Pakhtunkhwa with skills – like graphic designing, social media marketing, WordPress design & development, blogging & content writing, and digital tools for productivity – and promote financial independence of these women by providing them employment opportunities through digital jobs.

Apart from designing the content of these courses with the help of known industry experts of their respective fields, Tech Valley also reached out to its partner Google to design the curriculum of “Digital Tools for productivity”. After localizing the content provided by Google, the course was incorporated into the program that consisted of training on project management and collaboration skills using the latest available tools.

“The program was well-coordinated, the trainers and coordinators were very helpful. The content was structured to keep us engaged throughout the program. The skills I learned from the program have helped me promote my business online”, says one of the program’s participants.

The program was delivered through an online management system that consisted of video lessons, assignments, quizzes, and online training sessions that provided a platform for females to interact with the trainers and ask questions. The program also included mentorship sessions from human resource experts and career counselors and freelancing sessions that consisted of tips and techniques to land a gig on different freelancing platforms.

While appreciating the efforts of the team and the success of the program, Minister of Science, Technology and IT, Mr. Atif Khan, discussed the government’s plans, “We are planning to train 1 Lac people in multiple levels of digital skills. The government is willing to invest as much as it can in filling the gap in the IT industry by training its youth in IT skills.”

Managing Director Khyber Pakhtunkhwa IT Board, Dr. Sahibzada Ali Mahmud, congratulated the program participants and said, “Our women have unlimited potential, and by learning these skills, they can do jobs at the convenience of their own home.” He also added that “The digital economy has a lot more to offer to the youth of Khyber Pakhtunkhwa, and we are working to bridge this gap by helping youth master different digital skills.”

CEO Tech Valley, Umar Farooq, expressed gratitude to the KP IT Board and donors of the program, i.e., multi-donor trust fund and the world bank. He also stressed the importance of digital skills and nourishing the digital economy. He said, “Digital Skills are important for youth, but the dream of digital Pakistan cannot be fulfilled until the government provides prerequisites, i.e., tax subsidy on digital gadgets, providing subsidised internet packages for youth & establishing free internet zones.”

Madiha Hamid, CEO DEMO added, “Women are the pillar for Economic growth for Pakistan. These Digital Skills training have enabled women to earn and become financially independent and contribute to their household income.We hope that more women step up and take the challenge and equip themselves with the skills of future”

As the world is going digital, the youth must master in-demand digital skills to play a crucial role in uplifting the digital economy. Through programs like these, the government and the partners aim to enhance the skill set of youth to better equip them with the needs of the current and future digital job market.

CEO Tech Valley, Umar Farooq and CEO DEMO, Madiha Hamid with Minister for Science, Technology and IT, Khyber Pakhtunkhwa, Atif Khan on the graduation event at Peshawar, Khyber Pakhtunkhwa.

The Essentials of Modern Marketing’ by Philip Kotler featuring BankIslami’s Case Study launched in the local market

Lahore (Nut Desk) BankIslami, Pakistan’s leading Islamic finance institution, is now part of one of the pioneering marketing texts acknowledged globally. Philip Kotler’s new book ‘The Essentials of Modern Marketing’ is being launched simultaneously in the international as well as local markets. Considered the pinnacle of marketing guides used in educational institutions around the world, the book features a case study on BankIslami’s One Touch Banking solutions and how the solution has redefined digital banking in Pakistan.

Philip Kotler is widely regarded as the father of modern marketing and his book, ‘The Essentials of Modern Marketing’ has been a cornerstone for marketing courses taught in various educational institutions globally. The book is jointly published by Kotler Impact and Naqeebz. BankIslami’s case study is featured in the international as well as local versions of the book. Both versions are available as Ebooks while the local edition is also available in hardcopy across bookstores in Pakistan. Syed Fahad bin Tariq, Head of Marketing and AasimSalim, Head of Distribution Central, BankIslami attended the book launch event held at Bukhari Auditorium, GCU Lahore. Commenting on the development, Syed Fahad bin Tariq, Head of Marketing, stated: “BankIslami, under its progressive leadership, has always aspired to tap into the new avenues that allow the global village to come closer. We have been fervently fighting from the frontline as BankIslami believes in serving its purpose of saving humanity from RIBA. Our vision to make the organization technologically advanced, empowered our dynamic team to design the first biometric and card-less ATM introducing the first cashless and cheque-less branch banking known as One Touch Banking- where your thumb is your bank! BankIslami is honored to have our One Touch Banking case study featured in Essentials of Modern Marketing”.

Lahore (Nut Desk)

The National Incubation Center is the start-up innovation and entrepreneurial hub of Pakistan, managed by Teamup and Jazz in collaboration with Ignite and the Ministry of Information Technology. Since its inception in 2016, the NIC has incubated 11 cohorts, consisting of more than 250 start-ups, that have gone on to create more than 15,000 jobs and earn revenue exceeding 2.5 billion PKR.

The NIC acts as a bridge between entrepreneurs, innovators, and investors, a hub for innovation. A place born to nurture and grow talent from across Pakistan. From being awarded the best facility by Forbes, to winning global competitions the National Incubation

Center has several accolades in its name. Boosting women empowerment is one of the core values of the NIC, owing to which 114 women entrepreneurs are part of the NIC and are leaving their mark on the global stage.

Pakistani Start-ups from all tech genres including Health-tech, Food-tech, Tourism, and Hospitality, Agri-tech, Gaming, Big Data and Analytics, Mobile Apps, Digital Marketing, Content Creation, Sports, Fashion, Ed-Tech, Aviation, Fintech, Internet of things, E-commerce, Robotics, and others are encouraged to join this hybrid (virtual and in-house) program to gain access to its state-of-the-art facility and offerings.

To apply, visit https://nicpakistan.pk/get-incubated/

Selected start-ups will get a chance to experience a custom founder curriculum to help them accelerate their idea into successful and viable businesses. The start-up gaps will be identified, and the team will get relevant guidance and mentorship to help develop the start-up DNA.

From product development, design thinking, growth hacking, financial management, market research, advertising to pitching potential investors, and more, the NIC has got it covered. NIC offers a fully equipped free working space that celebrates diversity, inclusivity, and innovation. Entrepreneurs/innovators with a sound idea or fresh start-ups, can grab onto this life-changing opportunity as applications are open till 18th February 2022.