Category: Business

Registrations for WISE bootcamps are now open

Pakistan (Muhammad Yasir) Jazz, Pakistan’s largest digital operator, and the United Nations Development Programme (UNDP) have launched the Women Initiative in Social Entrepreneurship (WISE) to promote women-led social innovation in Pakistan.

The WISE Bootcamps, registrations for which are open now, aim to empower 400 women social entrepreneurs across 12 cities of Pakistan with essential business knowledge and skills to manage sustainable social enterprises.

To strengthen the start-up ecosystem in Pakistan, in 2020, Jazz and UNDP partnered to launch SDG Bootcamps to promote social innovation and entrepreneurship by youth in Pakistan. The SDG Bootcamps engaged 401 participants, 40% of them being women entrepreneurs. The solutions addressed by these enterprises included climate action, health, and digital transformation.

Continuing the partnership – and with implementation through the School of Leadership Foundation (SoLF) – the WISE Bootcamps will focus on strengthening Pakistan’s women social entrepreneurs.

“WISE is aimed at empowering Pakistani women by creating opportunities for financial and digital inclusion for the women and youth,” said Aamir Ibrahim, CEO Jazz. “This outcome resonates well with Jazz’s purpose of improving the lives and livelihoods of women in Pakistan through technology. We hope that women-led businesses in WISE will address unique challenges and create innovative solutions that positively impact their communities and beyond.”

“Digital space in Pakistan must be a place for gender equality, for social and economic empowerment and inclusion. Knowledge and skills of technology and innovative entrepreneurship are all part of this ecosystem. If we get it right, development indicators of inclusion and gender equality will achieve their positive trajectory,” remarked Samuel Rizk, UNDP’s Resident Representative to Pakistan.

Emphasizing innovation, WISE seeks enterprises that address at least one of the country’s development challenges and contribute to achieving the Sustainable Development Goals. Aspiring social entrepreneurs across Pakistan can apply for registrations: http://bitly.ws/KIDR

 

Pakistan (Muhammad Yasir)

In a pivotal moment that will forever mark Pakistan’s history, the year 2023 witnessed an unprecedented stride into the digital age, as the nation conducted its 7th Housing and Population census. This remarkable feat not only underscores Pakistan’s commitment to progress but also showcases the pioneering efforts of individuals like Muhammad Sarwar Gondal, an esteemed Member of the Pakistan Bureau of Statistics (PBS). As the curtains lifted on February 20, 2023, Pakistan embarked on an audacious endeavor that would transform its census-taking methodology forever. This watershed moment was distinguished not only by the accuracy and comprehensiveness of data collection but also by the seamless integration of technology. Leading this paradigm shift was Muhammad Sarwar Gondal, a name that has become synonymous with innovation and commitment. The driving force behind the success of Pakistan’s first-ever digital census, Muhammad Sarwar Gondal’s influence was apparent from the outset. His vision was grounded in a commitment to transparency and accuracy, paving the way for a groundbreaking approach to data collection and analysis. Gondal’s profound understanding of the significance of this census in shaping policies, planning for the future, and propelling national development illuminated his path. One of the most remarkable aspects of this census was the novel approach to data collection. With a forward-looking perspective, Gondal and his team at PBS introduced a specially designed portal that allowed citizens to actively participate in the enumeration process. The response was nothing short of astounding. Within a matter of days, over 4 million individuals had engaged with the portal, setting an unprecedented record in the South Asian region. Amidst the sea of achievements, Gondal demonstrated unparalleled dedication in addressing concerns and misconceptions surrounding the census process. Notably, regions such as Sindh and Balochistan presented unique challenges that he met head-on. Gondal’s patient and articulate communication underscored his unwavering belief in the transformative power of accurate census data, transcending regional boundaries. Muhammad Sarwar Gondal’s unwavering commitment to truth and the integrity of the census process was unequivocal. In a landscape where misinformation and politicization loomed as potential threats, Gondal stood resolute in emphasizing the collective responsibility to safeguard the census from any distortion. His conviction was profound: the census was a service to the nation, and its success depended on factual representation. The fusion of Gondal’s visionary leadership and technological prowess manifested in the digitized data collection process. More than a mere census, this endeavor became a testament to Pakistan’s capabilities to adapt and innovate in the digital era. With over 100,000 skilled enumerators armed with tablets, PBS ensured the security and confidentiality of the collected data, a feat that further underscored Gondal’s strategic approach. As the curtain fell on the digital census of 2023, the echoes of Muhammad Sarwar Gondal’s commitment continued to resonate. While the achievement was undeniably the result of collective dedication, Gondal’s resolute leadership played an instrumental role in steering the course towards success. His unyielding vision has set a benchmark not only for future census efforts but also for Pakistan’s broader ability to embrace digital transformation. Pakistan stands indebted to Muhammad Sarwar Gondal for his exceptional contribution to this historic feat. His role in spearheading the digital census has not only elevated Pakistan’s international standing but also underscored the nation’s capacity to evolve and innovate in an ever-changing landscape. Gondal’s legacy is one of progress, accuracy, and unwavering dedication to the advancement of his country. In the annals of Pakistan’s history, the year 2023 will forever shine as a beacon of progress, with the digital census serving as a testament to the nation’s commitment to innovation. The brilliance of this achievement owes much to Muhammad Sarwar Gondal, a visionary leader who transformed challenges into opportunities and paved the way for a brighter, more digitally empowered future for Pakistan.

Another Year of Unprecedented Success: Record-Breaking Profit and Dividend Declaration Propel Lucky Cement to New Heights of Success.

Pakistan (Muhammad Yasir) Continuing its streak of surpassing milestones, Lucky Cement Limited achieved an all-time high consolidated profit after tax of PKR 59.5 billion for the year ended June 30, 2023, with PKR 10.8 billion attributed to non-controlling interests. This marks an impressive 63.5% surge compared to the same period last year, translating to an EPS of PKR 152.97. The remarkable increase in profit includes gain on disposal made by Lucky Core Industries, a subsidiary company, of approximately 26.5% of the issued and paid-up share capital of NutriCo Morinaga (Private) Limited resulting in an after-tax gain of PKR 9.6 billion.

In response to inquiries about the financial results for the year ended June 30, 2023, a Lucky Cement spokesperson expressed sincere gratitude for the Company’s outstanding accomplishments. These achievements were attributed to the gracious blessings of the Almighty. “Our recent journey has been punctuated by significant milestones, including the commencement of profitable operations of Lucky Electric Power Plant, the strategic part-sale of NutriCo Morinaga, , the announcement of a new 1.82 MT production line in Samawah, Iraq, a substantial 3.15 MT expansion in our cement division, the strategic integration of solar power plants for self-sustained energy consumption, the successful conclusion of our 1st share buyback initiative, and the start of a 2nd share buyback. An integral facet of our accomplishments is the unwavering dedication of our employees, who consistently exemplify a profound commitment to growth and operational efficiency. Their steadfast determination resonates in every interaction,” the spokesperson elaborated.

Moreover, following the successful completion of the Company’s first buy-back of 10.0 million shares, the Company has started another buy-back of 23.8 million of its own shares, slated for completion on November 20th, 2023. By repurchasing its own shares, the Company aims to optimize its capital structure and unlock additional value for its stakeholders. This buy-back initiative showcases the Company’s proactive approach in managing its financial resources, fostering investor confidence and reinforcing its commitment to maximizing long-term shareholder value.

On a consolidated basis, the Company attained a gross revenue of PKR 459.5 billion showcasing a significant 15.8% increase compared to the revenue of PKR 396.7 billion during last year. The noteworthy growth in gross revenue is mainly attributable to the full-year’s commercial operations of Lucky Electric Power Company Limited.

On an unconsolidated basis, the Company reported a gross revenue of PKR 125.8 billion, which signified an increase of 15.9% as compared to the last year. The Company reported a net profit after tax of PKR 13.7 billion. Moreover, the EPS for the period is calculated at PKR 43.06, as compared to an EPS of PKR 47.31 during last year. This slight decline in the Company’s profitability is attributed to lower dividend income from subsidiaries and higher tax charge during the current year.

Along with the announcement of financial results, the Board of Directors of the Company has recommended a final dividend of PKR 18 per share.

Aligning with its growth strategy, the Company had announced the commencement of operations of Line-2, at Pezu Plant on December 22, 2022. This addition increases the production capacity of the Company’s cement production by 3.15 Million Tons Per Annum (MTPA), thereby, bringing the total capacity to 15.30 MTPA. After the successful completion of the aforesaid expansion, the Company has further reinforced its rank and prominence as the largest manufacturer and exporter of cement and clinker in Pakistan.

Furthermore, to meet growing cement demand in Iraq and secure clinker supply for our associated company, Al Mabrooka Cement Manufacturing Company Limited, the decision has been made to expand clinker production capacity in Najmat Al Samawah Company for Cement Industry, Iraq. This involves adding a new 1.82 million tons per annum production line, enhancing operational efficiency, and promoting clinker self-reliance in Iraq. Engineering contracts are in place, negotiations with potential contractors are ongoing, and construction is set to start in 1Q FY24, with an estimated 18-month completion timeline.

Continuing its commitment to clean energy, post the successful 34 MW solar power project, the Company has finalized commercial negotiations for a 25 MW Solar Power Project at Karachi Plant. Procurement of essential equipment and materials is finished, with the project anticipated for completion in 2Q FY24. These investments align with the Company’s goals of advancing renewable energy, reducing fuel import reliance, and enhancing cost-efficiency. 

Moreover, in line with the Company’s commitment towards environment sustainability, it has won CSR award in the “Green Energy Initiative” category for adopting renewable energy solutions to promote environmental conservation and ensure sustainable business operations. The Company also secured 1st rank for its ESG reporting by the CFA Society.

The Company firmly upholds its commitment to various important causes, including education, women’s empowerment, health, environmental conservation, and community development, as part of its Corporate Social Responsibility (CSR) initiatives.

Amidst ongoing economic challenges like high inflation, interest rates, and weakening currency, cement demand remains under pressure. Prospects of political stability and redirected funds for Public Sector Development offer potential economic revitalization and increased cement demand. Easing commodity super cycle effects, reflected in falling oil and coal prices, are favorable for the cement industry, boosting margins via reduced coal costs. Yet, concerns persist, with potential Pakistani Rupee devaluation and higher energy tariffs posing margin pressure and export competitiveness risks across sectors.

Lahore (Muhammad Yasir)

TECNO, the leading mobile company in Pakistan, launched its highly anticipated CAMON 20 series on Monday, 7th August. The launch event took place during a digital fashion show live on TECNO Mobile Pakistan’s official channels and the Daraz app.

Adding to the excitement, TECNO has selected the renowned superstar Sajal Aly as the brand ambassador for the CAMON 20 series. She was also an integral part of all the thrilling activities during the event, adding her star power and charisma to the show.

This virtual fashion show created a unique and immersive experience, engaging customers across the country. It was incorporated with fun and interactive activities with a lot of different surprises, in which everyone could participate from the comfort of their house. Participants had the opportunity to win exciting prizes.

Meticulously designed for tech-savvy individuals, photographers, and fashion enthusiasts, the CAMON 20 series features stunning camera qualities, cutting-edge technology, and a sleek, stylish look with its industry-first CAMON PUZZLE Deconstructionist Design, promising a spectacular user experience that surpasses all its previous innovations. The series offers a range of versions, including CAMON 20, CAMON 20 Pro, CAMON 20 Pro 5G and, CAMON 20 Premium, catering to a wide variety of users worldwide.

“TECNO CAMON 20 is a blend of innovative technologies and modern design in one striking, high-performance series,” said Jack Guo, General Manager of TECNO, “There are many moments in life that are meant to be kept safe. TECNO CAMON 20’s advanced portrait and video technologies let users capture those emotional moments with sharper detail, while its strikingly aesthetic design, great quality and exceptional user experience make it an all-rounder device.”

The new CAMON 20 Series comes in Predawn Black, Serenity Blue, out of which CAMON 20 is now available online on the official website of TECNO Mobile Pakistan, Daraz App, and offline markets across the country.

Pakistan (Muhammad Yasir)

S I Global Solutions has achieved unprecedented success by upgrading cranes at Deep Sea container port with a state-of-the-art advanced surveillance system and the latest technology to bring efficiency in port operations such as cargo and shipment handling.

The project will enhance the accuracy of container movement from large-sized vessels at the terminal to its cargo storage and reduce the time of overall operations significantly. The project will also reduce the time of container loading and offloading from the vessels at Deep Sea Container Port.

On the accomplishment of this project, CEO S I Global Solutions Noman Ahmed Said stated, “The upgradation of the RTG cranes at Deep Sea Container Port is the testament that the port sector in Pakistan is highly strategic and advanced on the technology front. He stated that S I Global Solutions is the Pakistani company to have achieved this task at international standards, which shows the potential and capacity of the local company in the technological area. This was the first ever project of its kind in Pakistan and more projects are likely in the near future.”
The success of Si Global can also be attributed to its strong leadership, which has steered the ship with wisdom and foresight. By fostering a culture of collaboration, creativity, and empowerment, the company has nurtured an environment where everyone’s ideas and contributions are valued, leading to continuous improvement and breakthrough achievements, Noman Said added.

Klaus Liu, Country Manager Hikvision said, “As the technology partner we have worked with S I Global Solutions to achieve the landmark achievement in Pakistan’s biggest part which is an honor for our company. We wish to work in Pakistan as an important neighbour and friendly state.”

S I Global Solutions celebrates this remarkable milestone with its commitment to its mission of driving innovation, pushing boundaries, and delivering unparalleled value to its customers. With a clear vision for the future, S I Global is poised to continue its trajectory of success, cementing its place as an industry leader. Already S I Global has over 600 customers in leading Pakistan in the global arena as a market leader in digital marketing.

Karachi (Muhammad Yasir) Sunday August 6th was an eminent day for Naya Nazimabad as Honourable Diplomats of Morocco, Yemen, Mozambique and Ethiopia visited Naya Nazimabad Gymkhana. Mr. Ishtiaq Baig, Honorary Consul General of Morocco; Mr. S. Khalid Tawab, Honorary Consul General of Mozambique; Mr. Jemal Beker Abdullah, Ambassador of Ethiopia; Mr. Sardar Yasin Malik, Chairman Hilton Pharma Group of Companies; Mr. Mirza Ikhtiar Baig, Honorary Consul General of Yamen & Chairman Baig Group of Companies; Mr. Abdul Haseeb Khan, Ex-Senator & Chairman Brooks Pharma and Mr. Ibrahim Tawab, Founder of Bazar not only visited the newly built futuristic Gymkhana facility but also delightedly became members of the Naya Nazimabad Gymkhana. All the honourable guests admired the state of the art and advance facilities of Gymkhana. They appreciated the vision and efforts of Mr. Arif Habib towards the development of such a wonderful project and transforming Naya Nazimabad into a piece of Heaven. Worthy guests enjoyed and spent quality time at Naya Nazimabad.

ZAHID BAIG

LAHORE: Chinese leading food firm “Litong Foods” is all set to enter into a joint venture with a Pakistani firm Guard Agricultural Research and Services (Pvt) limited to import 5000 tons of dried chillies. The agreement likely to be signed during the next week is a follow up of the recent memorandum of understanding on protocol of phyto-sanitary singed in Islamabad during 3-day visit of Chinese Vice-Premier He Lifeng. The $30 million (around Rs9 billion) joint venture is likely to be signed under the business-to-business mode. “China is a big consumer of chillies as these are used in sauces, soups and some other products. They consume about 150,000 tons of dried chillies per annum and out of it 60,000 tons are imported from India.

However, due to recent geo-strategic repositioning in the region Chinese are now looking at Pakistan to import this quantity,” said Guard’s Chief Executive Officer Shahzad Ali Malik while talking to Business Recorder here on Sunday. He claimed that initially Chinese offered us to export them 15,000 tons but we have decided to move cautiously and committed to export between 3000 to 5000 tons only.

However Chinese will import 15000 by some other arrangements through another Chinese company already present in our country, he added. Shahzad Ali Malik said that both Litong foods and Guard had already successfully experienced sowing of hybrid chillies in Pakistan near Multan under an MoU and now moving towards materialising the dream of ousting India and capturing the Chinese market of dried chillies. Litong Food, a major seed breeder will provide hybrid seeds and technical guidance and take back the production under the Pakistan-China Economic Corridor (CPEC) project, he added.

Malik said they have recently visited the facilities of Litong in China. This project hopefully bring about an upward change in the living standards of farmers, remove poverty from rural areas and create job opportunities for our Agri graduates. ‘We have already started hiring agricultural graduates while training of our farmers, technical staff of our company and other stakeholders had already been completed.

It may be worth mentioning that the Guard Agricultural Research and Services already had the honour to introduce Chinese long grain hybrid rice in Pakistan which had increased rice production manifold especially in Sindh. He said Pakistan-China collaboration in the agricultural sector, particularly in the development of new varieties of hybrid seeds in the private sector has significant benefits for both countries.

Shahzad Ali Malik Sitara-I-Imtiaz said Hybrid Chilli gives three picking per sowing and a production of 75 maunds per acre in contrast to traditional varieties which give only 30-35 maund per acre,’ he added.Chairman Litong Food coming from China to ink a initially five years contract he concluded.

Pakistan (Muhammad Yasir)

The Bank of Punjab and the Board of Revenue Balochistan signed a service level agreement in Quetta to initiate the E-Stamping project for automating this critical service for the benefit of the citizens. This aligns with the Government of Balochistan’s vision of promoting digital services and ensuring ease of doing business in the province. Embracing the power of technology, citizens can now obtain stamp papers effortlessly within minutes, at the click of a button, thanks to a seamless process offered by the Bank of Punjab. The E-Stamping project will be rolled out across the province and will enhance revenue collection while providing complete data reconciliation. The ceremony was attended by Mr. Roshan Ali Shaikh (Senior Member Board of Revenue), Mr. Farid Ahmed Khan (Group Chief Corporate & Investment Banking – BOP), and Mr. Sharjeel Raza Khan (Head Transaction Banking – BOP), along with senior officials from both organizations. The Bank of Punjab is the only bank in the country extending end-to-end fully automated E-stamping services successfully since 2016. The Bank plans to offer these services in other provinces in joint collaboration with key stakeholders. The Bank of Punjab boasts an extensive network of 780 branches spread across Pakistan. In Punjab, the bank operates 471 conventional and 91 Islamic branches. In Sindh, BOP has a growing network of 73 conventional and 10 Islamic branches. In Khyber-Pakhtunkhwa, the bank has 48 conventional and 21 Islamic branches. Within ICT, there are 15 conventional and 7 Islamic branches. In Balochistan, the bank operates 8 conventional and 5 Islamic branches. Furthermore, there are 8 conventional and 2 Islamic branches in Gilgit-Baltistan and 5 conventional and 3 Islamic branches in Azad Jammu & Kashmir. The Bank of Punjab has established a vast network of 765 ATMs throughout Pakistan. In Punjab, BOP operates 591 ATMs, while in Sindh, there are 66 ATMs. In Khyber-Pakhtunkhwa, the bank has 55 ATMs. Moreover, it has 26 ATMs operating in the ICT region, along with 13 ATMs in Balochistan. Furthermore, the bank has 9 ATMs in Gilgit-Baltistan and 5 ATMs in Azad Jammu & Kashmir.

Saudi Fund for Development Officially Inaugurates the King Abdullah Campus of Azad Jammu and Kashmir University in Pakistan.

Pakistan (Muhammad Yasir)

The Saudi Fund for Development (SFD) officially inaugurated today the King Abdullah Campus of Azad Jammu and Kashmir University (UAJK) in Pakistan. The King Abdullah campus was funded through a generous USD $90 million grant provided by the Kingdom of Saudi Arabia, through SFD.

The project was inaugurated by SFD’s Director General of Asia Operations, Dr. Saud bin Ayed Al-Shammari, in the presence of the President of the State of Azad Jammu & Kashmir, H.E. Sultan Mehmood Chaudhry. Also attending the inauguration ceremony was the Chairman of the Higher Education Commission, Professor Dr. Mukhtar Ahmed, and the Vice Chancellor of the University of Azad Jammu & Kashmir, Professor Dr. Muhammad Kaleem Abbasi, alongside other officials from both sides.

The King Abdullah Campus is a cutting-edge facility that hosts 15 academic departments, as well as administration blocks, accommodation, a library, a mosque, a state-of-the-art auditorium, and other essential amenities. Over 10,000 students, faculty members, and employees are expected to benefit from the new campus, which will offer cutting-edge research and educational opportunities, while helping to support the sustainable socio-economic development of Pakistan. The new campus will also contribute towards helping to realize the United Nations Sustainable Development Goals, specifically SDG4, Quality Education, SDG5, Gender Equality, SDG8 Decent work and Economic growth, and SDG11, Sustainable Cities and Local Communities.

On this occasion, the President of the State of Azad Jammu and Kashmir, H.E. Sultan Mehmood Chaudhry, said: “Amidst the echoes of history, the benevolence of a great nation remains etched in the hearts of Azad Jammu and Kashmir. As the President of Azad Jammu and Kashmir, and Chancellor of the University of Azad Jammu and Kashmir, I humbly acknowledge the pivotal role played by the Kingdom of Saudi Arabia, led by the visionary King Abdullah Bin Abdul Aziz, in the wake of the calamitous earthquake of 2005. The people of Azad Jammu and Kashmir will forever cherish the profound impact of the substantial financial assistance bestowed upon us, which not only rebuilt our beloved university but also sowed the seeds of an unyielding friendship between Saudi Arabia and Kashmir. A bond destined to transcend time and generations, symbolizing the epitome of humanity and cooperation in the face of adversity.”

On his part, the SFD Director General of Asia Operations, Dr. Saud bin Ayed Al-Shammari, said: “SFD’s contributions towards the reconstruction of the King Abdullah Campus, following the 2005 Kashmir earthquake, came from the Fund’s commitment to supporting Pakistan’s sustainable development through the development of social infrastructure. This project is a result of the close developmental relations, and successful longstanding partnership, which has existed between SFD and Pakistan for more than 47 years.“

Prof. Dr. Muhammad Kaleem Abbasi, Vice Chancellor of Azad Jammu and Kashmir University, also expressed his profound excitement, and stated: “In the face of challenges, the government of Saudi Arabia has exemplified unwavering support, emerging as a beacon of hope by generously contributing through the Saudi Fund for Development to construct the King Abdullah Campus—an innovative and state-of-the-art educational facility—inaugurated today. Symbolizing an enduring bond of brotherhood between Saudi Arabia and Azad Jammu and Kashmir, this campus stands as a precious gift.”

SFD has a long history of supporting Pakistan’s development. Since 1976, SFD has financed 16 projects in the country, providing 18 soft loans estimated at more than USD $1.1 billion. These projects have been launched and implemented to support a range of sectors, including water, health, energy, transportation, social infrastructure and other sectors. Additionally, The Kingdom of Saudi Arabia also provided a grant— estimated at over USD $500 million — to implement 23 development projects to help Pakistan overcome the damages caused by the 2005 earthquake. Other financial support from SFD has included a deposit supporting the country’s budget, amounting to USD $3 billion, alongside financing export credit and insurance, and the import of crude petroleum derivatives, amounting to USD $5.44 billion.

The inauguration of the King Abdullah Campus is a major milestone in the development of the University of Azad Jammu and Kashmir. It is a symbol of the strong friendship between Saudi Arabia and Pakistan, and a testament to the commitment of the SFD to supporting development projects in Pakistan and other developing countries around the world.

Sajal Aly: The New Face of TECNO in 2023.

TECNO, one of Pakistan’s leading mobile phone giants, has thrilled its customers by unveiling the most significant news of the year: Sajal Aly, the acclaimed superstar renowned for her incredible contributions to the entertainment industry, has been named the brand ambassador for 2023.

With this prestigious role, Sajal Aly will be the face of TECNO’s forthcoming products, including the highly anticipated CAMON 20 series. This series promises to revolutionize mobile photography and elevate user experiences to new heights, aligning perfectly with TECNO’s commitment to technological excellence.

On this remarkable partnership, Sajal expresses her excitement, stating, “I am absolutely delighted to join hands with TECNO, a brand that prioritizes user experience and innovation above all else. I am genuinely eager to explore and discover all the upcoming products and can’t wait to share my firsthand experience with all of you.”

The launch of the CAMON 20 series in Pakistan has already sparked a whirlwind of excitement in the market due to its exceptional features and cutting-edge technology. It has captured the attention of tech enthusiasts and consumers alike, generating immense anticipation for an unparalleled smartphone experience.

Together, TECNO and Sajal Aly are ready to create an unforgettable experience for consumers, leaving an indelible mark on the hearts and minds of people across Pakistan.

https://www.youtube.com/watch?v=pCfKBicxzeY