Category: Business

Islamabad (Muhammad Yasir)

TrustDecision is forging a pivotal partnership with Rapid, Pakistan’s leading in-country cloud service provider, to deliver its cutting-edge fraud, credit risk, and compliance solutions. This collaboration will empower commercial banks, Electronic Money Institutions (EMIs), Digital Retail Banks (DRBs), and e-commerce platforms to harness TrustDecision’s comprehensive services within Pakistan, fostering enhanced security and operational efficiency. Leveraging AI and big data, TrustDecision specializes in identity verification and device fingerprinting, essential tools for fraud prevention and credit risk management. These solutions are meticulously crafted to fortify businesses, ensuring robust security, fostering trust among customers, and adhering to regulatory mandates. By aligning with Rapid, TrustDecision ensures that its sophisticated services are supported by a resilient, secure, and scalable cloud infrastructure, tailored to Pakistan’s unique market needs. Rapid’s proficiency in cloud services complements TrustDecision’s innovative offerings, collectively accelerating Pakistan’s digital transformation. Shahzaib Khan, General Manager of RapidCompute, expressed his enthusiasm about the collaboration, highlighting the unique combination of RapidCompute’s cloud prowess and TrustDecision’s forward-thinking solutions. He elaborated, “This alliance is more than a partnership; it’s a fusion of expertise and innovation, set to redefine the security standards in Pakistan’s financial and e-commerce landscapes. This collaboration marks a significant milestone in our journey towards a digitally empowered Pakistan.” In essence, this alliance between TrustDecision and Rapid signifies a significant stride towards enhancing the security and efficiency of Pakistan’s financial and e-commerce sectors. It underpins the broader national agenda of digital empowerment and financial inclusion, ensuring data sovereignty and optimized service delivery through local cloud hosting. Through this collaboration, TrustDecision and Rapid are setting a new standard for risk management and fraud prevention in the region, fostering a secure and dynamic digital ecosystem for all stakeholders. Fahad Shahab, the Country Head at TrustDecision, expressed enthusiasm about the new partnership, stating, ‘We are thrilled to collaborate with RapidCompute as our Business Partner in Pakistan. This alliance allows us to tap into the fintech and digital lending landscape in the country more effectively.’

Ramzan car type ‘GO Indus’ available on the Careem app, allows customers to PKR 50 to each ride, which will be donated to Indus Hospital to provide free healthcare to those in need.

• Careem customers can donate directly to notable charities through the newly introduced ‘Right Click’ option in the Careem application.
• Ramzan iftar events are held throughout the holy month for Captains from across the country.   

Pakistan (Muhammad Yasir) Careem, the leading ride-hailing platform in Pakistan, has introduced a series of impactful initiatives this Ramzan, using technology as an enabler in the way donations are traditionally made. With the aim of giving back to the community, Careem has introduced a Ramzan donation car type ‘GO Indus’  in partnership with Indus Hospital.

With every ride of the ‘GO Indus’ car type, an additional PKR 50 will be added to the customer’s total ride fare. All funds collected will be donated to Indus Hospital to provide healthcare support to the less fortunate members of our society. The Ramzan donation car type comes as a part of Careem’s on-going commitment towards contributing and bringing a positive impact to local communities.

Additionally, Careem customers can also donate directly to notable charities including- The Citizens Foundation (TCF), Saylani Welfare International Trust, Indus Hospital, and Shahid Afridi Foundation (SAF) through the newly introduced ‘Right Click’ donations service in the Careem application. The donation can either be in the form of reward points which are collected by taking Careem rides, or by using your Careem Pay wallet, which can be topped up directly through your bank account.

Commenting on these initiatives, Imran Saleem, General Manager Ride Hailing at Careem Pakistan said, “Ramzan is a time for reflection, compassion, and giving back to the community. At Careem, we are honored to play our part in serving the community and spreading kindness during this blessed month. Through these meaningful initiatives, we aim to make a tangible difference in the lives of individuals and families in need. I would encourage customers to also play their part in donating  wholeheartedly, thereby truly embodying the spirit of Ramzan.”

Additionally, Careem colleagues in Pakistan have donated more than 0.7 million PKR from their cumulative salaries, which will be donated to Saylani Welfare International Trust. The amount will be utilized to purchase around 650 bags of flour which will then be distributed to those in need across Karachi, Lahore and Islamabad. This initiative is a testament of Careem’s commitment to fostering a culture of generosity and solidarity within its workforce and the wider community.

 

Driving Towards a Sustainable Future: YADEA Pakistan and Bank Alfalah Unveil Partnership for Eco-Friendly Transportation Solutions.

Lahore (Muhammad Yasir) Yadea Pakistan, a global leader in electric bikes and Bank Alfalah have joined hands in a special partnership by signing a Memorandum of Understanding (MoU) to facilitate its customers with bike financing opportunities. This collaboration is set to make it easier for people to buy Yadea electric bikes and enjoy exclusive benefits. Alongside Muhammad Salman MD Yadea Pakistan, GM Consumer Finance at Bank Alfalah Mr. Muhammad Qasim were present in the ceremony.

Yadea Pakistan and Bank Alfalah will now offer financing options for all Yadea bike models, allowing customers to spread their payments over a period of up to 36 months. What’s even better is that for the first 6 months, customers won’t have to pay any extra money on the amount they borrowed. This 0% Markup offer is designed to provide a helping hand to buyers, making it more affordable to own a Yadea bike.

Speaking at the Occasion, Muhammad Salman – Managing DirectorYadea Pakistan said, “Today marks a significant milestone in our journey towards making sustainable mobility accessible to all. Our collaboration with Bank Alfalah underscores our commitment to providing innovative solutions that not only revolutionize transportation but also empower individuals to embrace a greener, more efficient future. Together, we’re paving the way for a brighter tomorrow, where electric mobility is not just a choice but a sustainable way of life.”

As an added value, Bank Alfalah customers who purchase a Yadea bike will receive exclusive benefits, including free check-up services for a whole year. Nonetheless, they can enjoy peace of mind knowing that their bike will be taken care of without any additional costs.

Both Yadea and Bank Alfalah are enthusiastic about this partnership and the positive impact it will have on customers. By combining their strengths, they aim to make electric mobility more accessible and affordable for people across Pakistan.

Yadea, recognized as the number one electric bike manufacturer globally, is now available in all major cities across Pakistan. With a rapidly expanding network, Yadea is committed to bringing its innovative and eco-friendly electric bikes to even more locations in the near future

The TECNO Spark 20 Pro+, the latest addition to the SPARK family, achieved remarkable success upon its launch, quickly becoming one of the best-selling phones of the year. The initial high demand led to a rapid sellout, prompting a swift response from the manufacturer, who immediately restocked the phones to meet the overwhelming interest from the customers. This surge in popularity shows the device’s appeal and highlights its strong position in the market. The exciting part is that TECNO has successfully restocked the TECNO Spark 20Pro+ smartphone lineup, resolving any previous inventory concerns and ensuring our customers can access their favorite devices at the same prices.

The new TECNO SPARK 20 Pro+ stands out with its unique and futuristic design, complemented by enhanced features, all offered at an attractive price point of PKR 55,999 only. Within its diverse color options, the Magic Skin 20 Green variant has proven to be a top-seller, consistently winning favor among consumers. Even with its popularity, this colour is still easily accessible in the market, reflecting its ongoing demand and preference among users looking for a stylish and advanced smartphone experience.

If you are also interested in buying the new TECNO SPARK 20 Pro+, consider visiting their official website or reaching out to their trusted suppliers. This way, you can explore the available variants at the standard market rate for a straightforward purchase experience.

Lahore (Nut Desk)

The Pakistan Hi-tec Hybrid Seed Association (PHHSA) has hailed the multiple measures announced by prime minister Shehbaz’s to boost the country’s ailing agriculture economy and underdeveloped seed sector in his inaugural speech on the floor of the national assembly after assuming charge of his office on March 3. Speaking at a joint press conference along with LCCI President Kashif Anwar at the LCCI on Monday, PHHSA Chairman Shahzad Ali Malik said that the pronouncements made by the premier underscored his government’s deep commitment with the agriculture and seed sector. “Agriculture is the main pillar of Pakistan’s economy, and the seed sector is the backbone of the agriculture economy. We, therefore, strongly appreciate the premier’s plans to import the world’s best quality, high-yield seed to enhance the farm output, as well as his commitment to take action against seed mafia responsible for wheat hoarding, cotton ginners selling banola as seed, and others who violate rules, regulations and code of ethics.” LCCI President Kashif Anwar also appreciated the government resolve the economic challenges through sectoral reforms and support. He said that increase in yield is dire need of the hour. He said that focus on agriculture will not only help end poverty from the country but it would help us earn much needed foreign exchange. The PHHSA welcomed the government initiative to set up a dedicated, autonomous body — National Seed Development & Regulatory Authority (NSDRA) — and the appointment of a professional like Dr Asif Ali Khan (Tamgha-e-Imtiaz), who has a successful record in research and management as its chairman. Applauding the vision of Special Investment Facilitation Council (SIFC) and its Green Pakistan Initiative for bringing barren land of Cholistan under cultivation, the chairman stressed the need to bring the area under cultivation as well as increase per acre crop output through the use of high-yielding quality seed as very rightly addressed by the Prime Minister in his maiden speech. Shahzad Ali Malik, who has pioneered hybrid seed technology in Pakistan with the support of the top Chinese scientists, pointed out that transfer of hybrid technology, development of seed varieties through extensive local R&D had helped boost the country’s rice exports by 600 percent from just $462 million to $3 billion in 20 years. “We are optimistic to cross $5bn by 2027 due to surplus production of rice,” he added. He also drew the attention of the authorities towards the fact that out of five major field crops cotton, wheat, rice, maize and sugarcane, only two crops — rice and maize — are producing surplus for exports due to adoption and localization of hybrid technology. “By replicating the hybrid rice success story, we can achieve import substitution of approximately $10bn in cotton, wheat, edible oil, pulses etc. as well as have surplus production for export. He however regretted that in spite of its enormous contributions towards agriculture, exports and poverty alleviation in many areas of Sindh and South Punjab through hybrid technology transfer, the PHHSA has been denied representation on NSDRA. “Since the PHHSA was registered and granted licence in 2023 and Seed Amendment Ordinance 2024 published in 2024, hence the Board of Governors taken from previous National Seed Council notification of March 19, 2013 and the PHHSA name was overlooked in the board of governors. We strongly demand inclusion of PHHSA representation,” he concluded.

Pakistan (Muhammad Yasir)

Pakistan Solar Association (PSA), the leading trade body dedicated to the advancement of solar energy in Pakistan, reaffirms its commitment to its mission amidst recent attempts to tarnish its reputation. With over 600 registered members, PSA has been instrumental in propelling the solar industry forward in the country.

In the light of recent events, PSA has been subjected to a malicious propaganda campaign orchestrated by disgruntled individuals aiming to besmirch the image of the organization and its esteemed members. These baseless allegations have been vehemently refuted by PSA, which has taken decisive legal action against the perpetrators.

Among the false accusations levelled against PSA are claims regarding the legitimacy of the association’s previous elections, as well as unfounded complaints related to regulatory compliance. It is important to note that PSA has consistently adhered to all relevant regulations, obtaining a compliance certificate from the Securities and Exchange Commission of Pakistan (SECP) dated 15^th December 2023 reference no ARL/009642/1803 issued by Additional Joint Registrar of Companies.

Furthermore, the recent order issued by the Directorate General of Trade Organizations (DGTO) lacks merit and procedural fairness. PSA asserts that the DGTO order, which was based on unsubstantiated complaints, was issued without affording the association an opportunity to present its case or engage legal representation.

PSA emphasizes that the DGTO order does not serve as a final verdict and intends to appeal to the Federal government authorities for its suspension. The association maintains that it operates within the framework of the Trade Organization Act 2013 and Trade Organization Rule 2013, and has fully cooperated with regulatory bodies throughout its operations.

It is evident that the motives behind these baseless allegations are aimed at undermining PSA’s reputation and impeding its efforts towards promoting solar energy initiatives in Pakistan. However, PSA remains resolute in its commitment to its members and the broader goal of advancing sustainable energy practices across the nation.

As PSA continues to lead the charge in fostering innovation and growth within the solar industry, it calls upon stakeholders and the public to reject misinformation and support the association’s unwavering dedication to a greener, more sustainable future for Pakistan.

Furthermore, PSA reaffirms its unwavering support for the rule of law and the principles of justice. The association firmly believes in the importance of fair and impartial governance, and it will continue to work collaboratively with regulatory authorities to ensure compliance with all applicable laws and regulations.

PSA remains undeterred in its mission to promote sustainable energy solutions and drive positive change in Pakistan’s energy landscape. Through unity, resilience, and a steadfast commitment to its values, PSA will overcome challenges and continue to lead the charge towards a brighter, more sustainable future for all.

PSA remains steadfast in its dedication to transparency, integrity, and adherence to regulatory standards. As a trusted advocate for the solar industry, PSA upholds the highest ethical standards and fosters a culture of accountability within its membership.

Karachi (Muhammad Yasir)

As part of AKDN’s commitment to net zero by 2030, the Aga Khan University (AKU) is installing the largest solar photovoltaic (PV) project. To commence the project, a signing ceremony was held with Exide Pakistan Limited, who will be executing the project at AKU’s Stadium Road Campus in Karachi, Pakistan.

Renewable energy is one of the most effective ways to reduce greenhouse gas emissions and transition to clean energy systems. Solar irradiation is very high in Pakistan which makes solar PV ideal for energy generation in the country. In 2022, AKU installed 550 kilowatt solar PV on three of its campus roofs, resulting in highly positive environmental impact. In the project launching today, 3.3 megawatt of solar PV will be installed across the remaining roofs as well as three large parking areas of the campus, providing the much-needed shade to the cars parked below. The installation of the new panels will happen in phases, with completion aimed by April 2025.

AKU President, Dr Sulaiman Shahabuddin expressed ‘This is a major step forward in implementing our decarbonization plan which we set for ourselves in 2022. This project demonstrates AKDN’s and AKU’s ongoing and strong commitment to environment, sustainability and responding to climate change through renewable energy.’

AKU’s goal of net zero emissions by 2030 involves reducing absolute emissions in line with science using renewable energy and other strategies. Renewable energy must go hand in hand with increased energy efficiency, such as improved buildings, efficient equipment, and behaviour changes. AKU is rapidly progressing on all these areas of emissions reduction and has been closely monitoring its emissions footprint while aligning with the University’s Decarbonisation Plan.

“The partnership between AKU and Exide Pakistan Limited to provide clean and free electricity is commendable. Not only does it benefit AKU, but it also sets a shining example for other hospitals and universities to follow in promoting renewable energy and combating climate change ” said Mr Altaf Hashwani, Director Exide Pakistan Limited. “Through dedication and collaboration, initiatives like this can have a profound impact on sustainability efforts across various industries. Here’s to the successful implementation of the project and to the ongoing enhancements that will make AKU a role model in carbon-free healthcare.”

The solar project will reduce the burden on the K-Electric power grid and improve local air quality. Solar PV not only provides carbon-free electricity but also significantly lowers the cost of electricity, provides independence from fossil fuels, and reduces noise and air pollution.

The project is expected to save 1900 tonnes of CO2e every year, or the equivalent emissions produced by burning 800,000 litres of petrol in a car. This endeavour underscores AKU’s commitment to environmental stewardship and positions it as a leader in climate action, not only within Pakistan but also on a global scale.

 

JCRD Builders Corporation is a company engaged in the construction of infrastructure projects. Though a relatively new player in the industry, they have established a presence by undertaking projects of varying scales. The company prioritizes efficient project delivery. Their portfolio showcases a diverse range of completed infrastructure developments, all adhering to established industry standards.

Partnerships:

JCRD Builders leverages a network of partners that contribute to their success in diverse areas:

• Subsidiary and Construction Partners:

○ MG. A Konstruk Civil Engineering Construction: Expertise in civil engineering projects.

○ AET Engineering and Construction Services: Providing comprehensive engineering and construction solutions.

○ Teikoku Tanaka Construction and Development Corporation: A valuable partner in the construction and development sector.

• Real Estate Services:

○ Lidegon Real Estate Services Corporation:Facilitates JCRD Builders’ involvement in real estate ventures.

• Resources and Financial Services:

○ Chosen Resources INC.: A trusted provider of resources required for construction projects.

○ Chailease Berjaya Finance Corp: Offering financial solutions to support JCRD Builders’ endeavors.

Ensuring Smooth Operations:

JCRD Builders understands the significance of a reliable supply chain and efficient logistics network. To this end, they have established partnerships with:

• Logistics and Equipment Providers:

○ JAC Motors: A potential supplier of reliable vehicles for transportation needs.

○ GRIPX Philippines Logistics INC: Aiding in efficient logistics management.

○ Central World Enterprises: Contributing to the supply chain with essential materials.

• Tracking Services: Streamlining the monitoring of equipment and supplies.

○ JARA Scaffolding Construction Supplies:Providing scaffolding and construction supplies.

○ RATASADA RA Trucking Services and Delivery: Ensuring timely delivery of materials.

Building a Client-Centric Approach:

JCRD Builders’ focus extends beyond internal partnerships. They have established a strong client base, successfully delivering projects for:

• Current Clients:

○ Ginebra San Miguel: A testament to JCRD Builders’ capabilities in handling large-scale projects.

○ Royal Cargo: Highlighting their expertise in catering to diverse industry needs.

○ American Home: Demonstrating their involvement in residential construction projects.

○ LF Logistic: A potential example of their work in logistics-related construction.

○ Papercon Philippines: Showcasing their experience in building facilities for various industries.

 

 

Karachi (Muhammad Yasir)

foodpanda, Pakistan’s leading delivery platform, has announced a unique initiative to support relief efforts in Gaza during today’s Pakistan Super League (PSL) match between Islamabad United and Quetta Gladiators. As part of its ongoing collaboration with the World Food Program (WFP) to raise funds for Gaza, foodpanda has donated 10,000 rupees for every run scored by Islamabad United during the match.

 This philanthropic initiative comes as part of foodpanda’s ongoing collaboration with the World Food Program (WFP) to raise funds for the people of Gaza. Just a few months ago, foodpanda introduced a feature within its app that allows users to donate directly to Gaza relief efforts, in partnership with the WFP.

“We stand in solidarity with the resilient people of Gaza during these challenging times,” commented Muntaqa Peracha, CEO foodpanda Pakistan. “Our pledge to contribute by donating  10,000 rupees for every run scored by Islamabad United is a testament to our commitment to making a tangible difference. Together, let’s unite through cricket and extend our support to those in need.”

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Karachi (Muhammad Yasir)

In a bid to support the Government’s efforts to ensure urea availability at official prices, Engro Fertilizers has urged its dealers to comply with company guidelines on pricing and strictly ensure product availability to the farmers

To enforce guidelines of selling Urea at MRP, Engro Fertilizers hosted dealer conferences in Lahore, Multan and Hyderabad. Addressing the event participants, Engro Fertilizers VP Marketing Atif Muhammad Ali commented that “Engro Fertilizers has always adhered to highest standard of integrity and holds the same expectations from its dealers. To support the prosperity of farmers, Engro dealers must ensure urea availability at official prices. Further, Engro Fertilizers has not increased the selling price of imported urea to facilitate the Government in providing support to farmers.”

At the conference, the dealers were also updated on the recent gas price hike and the disparity of gas prices that exists among different fertilizer players. Feed stock gas prices for fertilizer manufacturers on SNGPL and SSGC network, which produce 60% of the total capacity, have increased from PKR 580/mmbtu to PKR 1,597/mmbtu. On the other hand, the remaining fertilizer manufacturers on the Mari network, that produce 40% of total capacity, are still on the subsidized price of PKR 580/mmbtu.

As a result of this discriminatory gas tariff, price distortion has been created in the market with  multiple urea prices existing in the market based on different gas input costs for the fertilizer manufacturers. This price distortion has provided the middleman an opportunity to earn excessive profits of PKR 80 – 100 billion.

All Pakistan Fertilizer Dealer Association Parton in Chief Mr. Ghulam Ahmed on behalf of fertilizer dealers shared that “It is in the country’s wider interest that a uniform gas price should be set for all fertilizer manufacturers. This will allow a single urea price to prevail, end market speculations and normalize the urea prices.”

By equalizing gas price for all fertilizer manufacturers, the government can help stabilize urea prices for the farmers and earn PKR 80 – 100 billion in revenues that would otherwise be pocketed by the middlemen. This can  further be used by the provincial government to issue direct subsidies on fertilizer to farmers or development of modern farming practices to uplift the overall agricultural productivity.