Category: Business

Pakistan (Muhammad Yasir)

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

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

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

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

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

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

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

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

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

 

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

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

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

Karachi (Muhammad Yasir)

Secure Logistics Group Ltd IPO’s book building phase will be held on 27th and 28th March where high net worth individuals and institutional investors will subscribe to 100% per cent of the issue size (50 million shares). 

The book building will start at the floor price of Rs 12 per share. Based on the interest from investors during the book building process, the strike price can rise by 40 per cent to up to Rs 16.80 a share, thus helping the company to potentially raise Rs 840 million.

After the book building process, successful bidders will be provisionally allotted 75 per cent of the issue size (50 million shares). The remaining 25 per cent shares will then be offered to retail investors at the strike price. SLG aims to raise a minimum of Rs 600 million by offering a 18 percent stake in the company to institutional and general investors.

SLG has also already secured pre-IPO equity of Rs585 million from existing strategic investors like Saudi Bugshan Group ( a large Saudi conglomerate) and Karandaaz Pakistan, a FDCO backed development finance institution.

The primary purpose of the equity capital raising is to “deleverage the balance sheet in an unprecedented high interest rate environment, enhance company’s technology infrastructure base to complete the on-going Tech-Pivot and initiate expansion into the regional markets”.

The company has a solid track record of capital market transactions to boost business growth.  It successfully closed Rs600 million convertible Term Finance Issue in 1Q CY19 and raised another PKR 1.2 billion through equity issue to Saudi Bugshan Group and Karandaaz Pakistan in 1Q CY20.  SLG’s  IPO has been priced at an attractive trailing P/E of 5.39x at the floor price of Rs12.

Lahore (Muhammad Yasir) Monitoring your phone’s battery level, worried that it might die at any moment? If so, you’re not alone. Low battery anxiety is a common concern for many smartphone users, but the solution might be simpler than you think. In the landscape of smartphone technology, charging methods play a pivotal role in enhancing user experience and convenience. Whether prioritizing speed, convenience, or aesthetics, users now have the freedom to choose the charging method that best suits their preferences and lifestyle, ensuring that their devices remain powered up and ready for whatever the day may bring.

The Charging methods currently available in the market are the following

Wired Fast Charging

At the forefront stands wired fast charging, the lead tenor in this orchestra of power delivery. Its high wattage orchestrates a swift return to full functionality, catering to the most time-pressed individuals. The voltage options for wired chargers range from 10W-70W However, amidst its virtuosity, wired fast charging may occasionally fall short in its reliance on physical connections. It may contribute to cable clutter and wear over time. The tangled cables, albeit minor, remain a notable inconvenience.

Wireless Charging

On the other hand, it offers a graceful alternative. Imagine a world free from the tyranny of cables – a world where a simple gesture, like placing your phone on a designated platform, initiates a silent dance of power transfer. It’s the epitome of elegance and convenience. However, wireless charging can sometimes be finicky. Precise placement on the charging pad can be an issue, and charging speeds often lag behind their wired counterparts. Wireless platforms, although liberating, may lack the swiftness desired by some users, especially in critical moments.

Wireless MagCharge

The rising star takes center stage with its innovative magnetic alignment. This novel technology guarantees a perfectly harmonized connection. No longer will the frustration of misplaced cables disrupt the performance. You can snap the MagCharge at the back of your phone and it ushers you in a new era of effortless charging, ensuring a smooth and efficient transfer of power every time.

Now contemplate a mobile device capable of encompassing the full spectrum of charging options available in today’s market. The notion may indeed seem incredulous at first glance. But the Infinix NOTE 40 Series makes its debut by shattering the limitations of traditional charging by offering a symphony of these revolutionary methods – 70W wired All-Round Fast Charge technology for unparalleled speed, wireless charging for elegant convenience, and the groundbreaking 20W Wireless MagCharge, the first of its kind for Android phones. This surpasses even Apple’s MagSafe, which offered a mere 15W and came at a premium price, and that too you have to buy it separately. However, the Infinix NOTE 40 Series not only integrates all these features seamlessly but also boasts a superior 20W output for its wireless MagCharge, setting a new standard for efficiency and user experience.

So, in the symphony of technological progress, take charge, live free, and experience the future with the Infinix NOTE 40 series—a testament to the harmonious fusion of innovation and practicality.

Lahore (Muhammad Yasir)

The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), proudly commemorated Pakistan Resolution Day with unwavering dedication to the nation’s progress. Held at the CBD Punjab headquarters, the ceremony was attended by COO CBD Punjab, Brigadier (R) Mansoor Janjua, directorate heads, senior officials, staff members, and ancillary staff, all united in the spirit of patriotism and national pride. The event began with a flag hoisting ceremony, symbolizing the steadfast commitment to uphold the principles of unity, faith, and discipline, and to strive for the betterment of the country while keeping the national flag flying high. The national flag soaring high served as a powerful symbol of prosperity and sovereignty. Addressing the gathering, COO CBD Punjab, Brigadier (R) Mansoor Janjua, emphasized the importance of commemorating the historic Pakistan Resolution. He stated, “Today, as we honor the historic Pakistan Resolution, we renew our pledge to uphold the principles of unity, faith, and discipline. It is our responsibility to honor the vision of our forefathers by tirelessly working for the progress and prosperity of our beloved nation.” He added, “This day prompts us to reflect on our past struggles, celebrate our achievements, and rededicate ourselves to the prosperity and progress of our beloved homeland.” Pakistan Resolution Day holds immense significance in the history of our nation, marking the passage of the historic Lahore Resolution on March 23, 1940. This resolution laid the groundwork for the creation of an independent homeland for the Muslims of the Indian subcontinent. It was a pivotal moment that ignited the flames of freedom, ultimately leading to the establishment of Pakistan on August 14, 1947.

The celebration of Pakistan Resolution Day at CBD Punjab exemplifies the enduring spirit of patriotism and commitment to national development. It serves as a reminder of the sacrifices made by our forefathers and inspires us to continue working towards a brighter future for Pakistan.

 realme Partners with foodpanda to Gift Free Iftari Meals to Fans During Ramadan

Pakistan (Muhammad Yasir) In a heartwarming initiative to give back to the community during the holy month of Ramadan, leading smartphone manufacturer realme has teamed up with Pakistan’s premier delivery platform, foodpanda, to launch a unique campaign that promises to make this auspicious month even more special for its fans. The campaign, designed to spread joy and foster a sense of togetherness, will see realme and foodpanda gifting 50 lucky winners with a Rs. 1500 cashback for a free Iftari meal of their own choice, every Wednesday, and Sunday throughout Ramadan.

To participate in this exclusive offer, realme fans are encouraged to stay tuned to realme’s official Facebook page. On every campaign day, a post will be shared inviting entries. Lucky winners will be announced through the same platform, embarking them on a delightful journey of flavors and gratitude, courtesy of realme.

“Ramadan is a time for reflection, devotion, and community. At realme, we believe in the power of giving back to the community that has been an integral part of our journey,” said Ethan Yin, CEO of realme Pakistan. “Partnering with foodpanda allows us to directly touch the lives of our fans by contributing to their Ramadan celebrations. It’s our way of saying thank you and enhancing their Iftari experience with a meal of their choice, on us.”

This campaign is not just about providing free meals; it’s a reflection of realme’s commitment to appreciating and giving back to its community. It also underscores the brand’s understanding of the cultural significance of Iftari during Ramadan and its desire to contribute positively to these moments.

It is a groundbreaking collaboration between foodpanda and realme that is aimed at celebrating the deep emotional connection and authenticity that define Ramadan. Embracing the spirit of “Make it real,” realme is revolutionizing the Ramadan experience by bringing people together in a genuine, heartfelt way. With realme’s innovative technology and commitment to authenticity, it expands the concept of iftari, reaching a wider audience and fostering meaningful connections. Together, it is not just celebrating traditions; but to redefine them, ensuring that every moment shared during Ramadan is imbued with genuine emotion and becomes truly unforgettable.

“We are thrilled to partner with realme for this noble initiative. Food brings people together, and through this campaign, we hope to bring joy and convenience to the Iftari tables of 50 families every week,” said Muhammad Abu Bakar Siddiqui, Head of Enterprise, foodpanda. “This collaboration reflects our shared values of community service and our commitment to making Ramadan a little more special for everyone.”

Participants are invited to follow realme’s Facebook page for updates on the campaign and instructions on how to enter for a chance to win. The campaign promises not just to feed the body but also to nourish the soul, reinforcing the spirit of Ramadan among the community.

 

 

 

Lahore (Muhammad Yasir)  In a landmark collaboration, easypaisa, Pakistan’s leading digital financial services platform, and Knorr, Unilever’s biggest food brand, have joined forces to revolutionize the digital payments landscape.

This strategic partnership represents a significant milestone in the ongoing efforts to modernize and streamline the value chain for sampling initiatives, marking a significant step forward in leveraging technology to enhance convenience, accessibility, and affordability in digital payments.

By combining the strengths of easypaisa’s robust digital payment platform with Knorr’s renowned brand presence, both organizations are poised to deliver unparalleled value to customers across Pakistan. The initiative is currently being executed in 20 marketplaces across 14 cities, including Karachi, Lahore, Islamabad, and Faisalabad.

Through this partnership, customers purchasing two packs of Knorr Chotu from shops will have the opportunity to participate in an engaging Wheel of Fortune (WOF) game – which is part of our collective effort to digitalize the product sampling process. This game offers customers a chance to win exclusive gifts, including easypaisa ‘peel & win’ voucher codes and additional Knorr Chotu packs.

To claim the easypaisa vouchers, customers need to simply scan the QR code provided on the ‘peel & win’ vouchers. On successfully scanning the QR code the customers will be rerouted to the easypaisa app, where they will enter their unique voucher code in the designed Knorr branded module. Upon successful redemption, customers will receive Rs. 50 in their easypaisa account balance.  

To gain actionable insights on the efficacy of the initiative, a digital customer feedback form will also be circulated to users within the easypaisa app to gather real-time feedback regarding the product and the activity, a testament to our commitment to a customer-first approach.

“We are excited to partner with Knorr (Unilever) in this pioneering initiative,” said Hani Haider, Head of Growth and Analytics at easypaisa & TMB. “This collaboration underscores our shared commitment to harnessing the power of collaboration and technology to drive innovation and create exceptional customer experiences. By combining our expertise, we are confident in our ability to set new industry benchmarks and create a digital ecosystem that benefits all Pakistanis.”

“We are equally excited to partner with easypaisa, this is the future fit partnership for our brand Knorr. easypaisa will help us unlock the masses across the key Knorr towns and also help us build long-term relationships with our consumers.  Knorr & easypaisa have set the new benchmark for the industry,” commented, Javed Jafri, Head of Media, Digital, and Data, Unilever Pakistan.

With over 40 million registered mobile accounts and growing, easypaisa has achieved a remarkable milestone by becoming the first Pakistani financial app to surpass 10 million active app users. This accomplishment solidifies easypaisa’s position as a trailblazer in Pakistan’s fintech landscape, driven by its commitment to fostering financial inclusion through technology and collaboration.

Karachi (Muhammad Yasir)

Faysal Bank Limited (FBL), the leading Islamic Bank of Pakistan, has partnered with Womenza Pakistan to facilitate freelancers across Pakistan. This strategic partnership underscores the commitment of both the organisations to foster economic independence and inclusivity, particularly among women freelancers.

Expressing his inclination to further strengthening the thriving freelance sector of Pakistan, Chief Digital Officer, Faysal Bank Limited, Mr. Amin ur Rahman stated, “We are delighted to join forces with Womenza Pakistan to empower women freelancers, a dynamic and growing segment of our economy. At Faysal Bank, we believe in fostering innovation and entrepreneurship and this collaboration will provide freelancers with the essential support to thrive in today’s digital landscape.”

In line with this commitment of empowering freelance sector, FBL offers Burraq Freelancer Digital Account providing seamless digital account opening, along with a foreign currency digital account, and a host of value-added services.

The signing ceremony was attended by officials from both the organisations. Present on the occasion, Co-Founder, Womenza Pakistan, Ms. Aiman Sami commented, “At Womenza Pakistan, we are dedicated to empowering female freelancers and equipping them with the skills and resources needed to succeed in the digital economy. Our partnership with Faysal Bank marks an important milestone in our journey to create a more inclusive and supportive ecosystem for freelancers, particularly women, by combining financial empowerment with skill development and mentorship, with the added bonus of Islamic finance.”

This collaboration between Faysal Bank and Womenza Pakistan marks a pivotal step towards creating a more empowered and resilient freelance community, driving positive change and economic growth across Pakistan.