Category: Business

Zindigi, Powered by JS Bank Launches Innovative Partnership with Mastercard to Transform Mass Transit in Karachi.

Karachi (Muhammad Yasir)  Zindigi, powered by JS Bank, in collaboration with Mastercard, is set to revolutionize the mass transit system in Karachi. This transformative partnership aims to enhance public transport accessibility, convenience, and financial inclusion for the city’s residents.

Zindigi will launch a state-of-the-art digital payment system, driven by cutting-edge technology. In the initial phase, over 1 million customers will receive special Zindigi cards that offer a secure and effortless mode of payment for their public transportation needs. The prepaid, open-loop contactless cards can be used to pay for daily commutes with a tap.

With this solution, Zindigi and Mastercard continue their contribution to redefining the way Karachi commutes and helping the city’s transit ecosystem go completely digital. Seamless integration with the existing metro bus ticketing system will allow passengers to use their Zindigi cards to pay for their bus fares, eliminating the need for physical tickets and reducing the waiting time at ticket counters.

The collaboration between Zindigi, and Mastercard represents a collective effort to digitize and streamline Karachi’s mass transit system, building on their shared vision of making public transportation more accessible, convenient, and efficient for the city’s population. This initiative aligns with the broader goals of Zindigi to strengthen financial inclusion and empower individuals with modern, user-friendly solutions.

Noman Azhar, Chief Officer, Zindigi, expressed his enthusiasm about the partnership, stating, “Zindigi has always been at the forefront of promoting a digitized economy, offering safe and secure digital payment solutions to its customers. This collaborative effort with Mastercard provides commuters with a unique payment experience, reducing the need to carry multiple cards. It also supports regular payments across retail and e-commerce through a single card.”

Selim Ergoz, Senior Vice President, Government Engagement, Eastern Europe, Middle East and Africa, Mastercard, said, “Mastercard has been an architect of pioneering smart city and urban mobility solutions for over a decade. To date, we have worked on more than 300 trailblazing mass transit projects around the world. As public transport is often one of the areas where cash is used the most, we are committed to advancing innovation in this space by introducing digital alternatives. Our latest partnership enables us to bring our global know-how from cities like Singapore, Sydney, and London to Karachi to ensure a hassle-free commute for the city’s passengers with our tap-and-go transit payment solutions.”

The collaboration will leverage Mastercard’s extensive expertise in digital payment solutions to provide a secure and reliable payment ecosystem for Zindigi cardholders. Mastercard’s global network and advanced technology infrastructure will create a robust foundation for Zindigi’s digital payment platform, facilitating seamless transactions and enhancing customer experience.

 

 

 

 

 

Why work for someone else when you can be your own boss by being a Careem Captain?

Lahore (Muhammad Yasir) Careem is one of the most safe, reliable and convenient ride-hailing services that is heard of in the country. Apart from ensuring the safety and comfort of its Customers, Careem has always demonstrated a special belonging and attention towards its Captains.

Here is why we think becoming a Careem Captain is no less than any other job or in some cases, even better.

1. Bonuses: The bonus is a way of rewarding and acknowledging the Captains’ efforts and hard work. . Through the bonus, the Captains can make more than the commission amount that was deducted from their share

P.S a Captain can earn up to PKR 150,000 with bonuses!

2. Peaking: Captains can make money through peak times as well as cancellation and waiting charges. This way if there’s traffic on the roads/rush hours, or the Customer is making them wait or eventually cancels the ride, or if there are unfavorable road conditions like rainy or bad weather, the Captain isn’t left empty-handed. The Captain is fairly compensated for working in such conditions thanks to the peaking and cancellation charges.
3. Destination filter: Through this unique feature, Captains can pick a location of their choice twice a day and pick rides according to their convenience. This can allow them to pick a location that’s closer to their home or one where they know they won’t face any troubles while driving to the said area.
4. Safety & Security: To deal with any chaotic situation during the ride such as an accident or an argument that might escalate, Captains get 24-hour on-ground support, rescue services, and legal assistance. So, if a Captain lands in any trouble, the Careem will support and stand by them at all times.
5. Insurance: Safety of the Captains and Customers is most definitely a top priority with a lot of work being done on that front. In case of an accident and injuries during a ride, Careem offers financial support to both the Captain and Customer. Similarly, Careem wants to make sure that their Captains and families are safe and sound. This is why the company assists to facilitate its Captains in purchasing subsidized health and life insurance policies. Through this feature on the app, Captains can pick a package of their choice and avail it whenever they want.
6. 24/7 Helpline: Fun fact: Careem is the ONLY ride-hailing service that offers round the clock helpline and call assistance to its Captains. In case of an emergency, the company will reach out to them or be available to guide and help them almost instantly. This is a feature that the Captains love!
7. Customer rating: Through this feature, Captains can rate and give feedback about their customers. So, next time they confirm a ride, they can see if they will have a pleasant experience with the customer or not, based on a previous Captain’s feedback. How’s that for equality?
8. Loyalty program: Naturally, a loyal Captain is liable to many additional perks and benefits such as extra destination filters, better ratings, increased cash limit and many other facilities and discounts. However, Careem is also offering a special application which is dedicated towards providing top rated Captains with exclusive offers and discounts which allows them to save up to PKR 100,000 a month on groceries, medicines, shopping etc. This way, the Captain can be assured that his loyalty and honesty doesn’t go unnoticed and will be rewarded generously by Careem.

New office is an extension of Visa’s culture of collaboration, innovation, and inclusive.

• Visa commits ongoing support to local partners to drive digitalization of payment landscape in Pakistan.

Lahore (Muhammad Yasir)   Visa (NYSE:V), the world’s digital payments leader has officially inaugurated its new office in Pakistan. Visa’s expanded on-ground presence in Pakistan is a testament to its commitment to supporting the company’s financial institution and merchant clients, local government partners, investments and local communities as part of continued efforts to drive digitalization of the payments landscape. With the new office, Visa aims to strengthen its ongoing talent acquisition strategy by attracting and retaining key talent. Year-on-year, Visa offices in NALP have seen 15% growth in employee evolution.1 The new purpose-built office spaceis designed entirely around needs of the staff and allows for a hybrid work environment. It is an extension of Visa’s culture of collaboration, innovation, and inclusivity. Cash displacement in the North Africa, Levant and Pakistan (NALP) region has accelerated in the last two years. Visa has seen digital payment adoption increase at a much faster pace andis committed to supporting Pakistan’s journey to a cashless economy through digital transformation. The company’s many innovative solutions deployed over the years continue to encourage this shift to digital payments in Pakistan. Visa recognizes emerging trends in consumer payment behavior and payment patterns and remains committed to capturing these opportunities in the NALP region. Visa’s expanded on-ground presence demonstrates its support of Pakistan’s government’s digital commerce agenda, and commitment to working with local banks, businesses and fintechs to design and deliver the payment options Pakistani consumers seek. “As a network that works for everyone, everywhere, Visa’s mission is to drive digital commerce for the benefit of consumers, businesses, and the economy across Pakistan. As part of our overarching strategy for the NALP market, our new office will enable us to continue collaborations with local financial institution clients, merchants, and fintech partners to develop and deploy efficient, convenient, and secure processes for offline and online commerce. For us at Visa, it is a place where our employees, clients and partners can seamlessly collaborate to create solutions, develop user experiences, and share ideas – all with the goal of helping businesses, individuals and economies thrive,” said Umar S. Khan, Visa Country Manager for Pakistan. Visa continues to support the growing payments ecosystem and digital economy in the region by empowering fintechs through partnerships with the Visa Acceptance Cloud and bringing low-cost acceptance solutions like Click to Pay and Tap to Phone for SMBs.

Pakistan (Muhammad Yasir)  S&P Global has launched ‘People First 10.0’, the latest iteration of its enhanced global benefits policy across all its markets, including Pakistan. The policy commits to leading with care and empathy and enabling the company’s people to thrive at work, at home, and in life. ‘People First’ prioritized the needs of S&P Global colleagues to cover a variety of their personal, professional, and social requirements.

Mujeeb Zahur, Managing Director, S&P Global Pakistan, expressed enthusiasm for the People First 10.0, saying, “We are proud to unveil People First 10.0, which demonstrates our unwavering dedication to our colleagues’ well-being. We listen to our people and the continuous feedback inspires our approach towards people friendly policies with ‘People First’. We believe that when we lead with care and empathy, we empower our people to thrive.”

In the tenth version, “People First 10.0” introduces multiple benefits to help people grow, feel engaged and fulfilled. Some of the new policies in “People First 10.0” include:

• Prayer, Contemplation and Wellness Rooms to support our colleagues’ with diverse beliefs and practices.
• A parental support program where people have the option to connect with experts specializing in pregnancy, postpartum care, lactation support, infant sleep coaching, return-to-work coaching, and loss partner support 24/7.
• Compassion Leave offering paid leave for parents following a pregnancy loss.
• Compassion Leave offering paid leave for the loss of a pet.
• Continuing menopausal support- temperature controlled rooms, flexible working, and unlimited paid leaves for managing menopausal symptoms.
• Continuing its five additional Annual Wellness Days off above annual holidays and the existing personal leave policy.
• Continued learning and digital tool adoption for growth and development including a Global Education Support program for current and past employees with Cornell and Emeritus.
• Flexible and Hybrid working across all offices in Pakistan and globally.

Samia Qamar, Director of People, S&P Global Pakistan, speaking about People First 10.0 said, “Initially introduced in 2018, the People First initiative has continuously evolved, incorporating feedback from employees through continuous conversations and the VIBE engagement survey. The idea of ‘People First’ was further reinforced during the pandemic, and it embraced a hybrid working model, strengthening  the organization’s commitment to diversity, equity, and inclusion.”

S&P Global’s ‘People First’ policies (1.0-9.0) have evolved and adapted to the changing needs of S&P Global’s people over the past six years. The Policy is built on S&P Global colleague’s feedback and is derived from the company’s commitment to fostering a supportive and inclusive work environment, empowering colleagues to excel both personally and professionally. S&P Global divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Global Commodity Insights, S&P Global Mobility, S&P Global Sustainable1 and S&P Dow Jones Indices.

Read more about S&P Global Pakistan benefits here: https://spgbenefits.com/benefit-summaries/pk

Lahore (Muhammad Yasir)

Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), has announced the successful completion of drainage pit testing at the Walton Road upgradation project. This milestone marks a significant step forward in addressing the longstanding issues of the drainage and sewerage system, including the ADA Nullah. Following the directive of Prime Minister Pakistan, Mian Muhammad Shehbaz Sharif and Chief Minister Punjab, Syed Mohsin Naqvi, CBD Punjab will initiate the Walton road project after the Monsoon spell. The project’s commencement aims to enhance the road’s infrastructure and improve the overall urban landscape. While talking about the project CEO CBD Punjab, Imran Amin said, “We are thrilled to announce the successful completion of drainage pit testing, a crucial phase of the Walton Road upgradation project. This development showcases our commitment to address the pressing issues faced by the community”. In line with the authority’s dedication to transparency and environmental responsibility, CBD Punjab hosted a public hearing for environmental approval. This step reflects our commitment to engaging with the community and ensuring sustainable development. The Walton Road upgradation project is poised to bring about positive changes, offering improved drainage and sewerage systems, enhancing road infrastructure, and elevating the living standards of the local residents. CBD Punjab remains devoted to fulfilling its mission and contributing to the growth and prosperity of Punjab.

Daraz launches “AskDaraz”, an in-app discovery service, to provide an intuitive and personalised online shopping experience for South Asians.

Pakistan (Muhammad Yasir)   Daraz, South Asia’s leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, Nepal, and Myanmar, announced the latest integration of Microsoft Azure OpenAI Service in Daraz to launch “AskDaraz”, an AI ChatBot, to simplify the shopping experience for South Asian users. Powered by OpenAI’s ChatGPT, AskDaraz will enable users to naturally discuss with the AI chatbot and get offered personalized recommendations, streamlining the entire shopping process.

Integrating Azure OpenAI Service model into Daraz’s new Discover section creates an inclusive shopping experience, especially for users who have yet to interact with an e-commerce platform. “AskDaraz” will enhance the shopping experience on Daraz by refining and analysing user requirements, sifting through millions of products across multiple categories, and recommending products, styles, and collections based on the user’s specific needs. This in turn bridges the gap between offline and online shopping by providing high-quality conversational and engaging experiences that consumers are used to.

Brands and sellers on the Daraz platform can also benefit from “AskDaraz” as it helps to increase product visibility and get access to new audiences. Daraz will continuously optimize the AI as the number of user interactions increases. For countries in South Asia, especially Pakistan, and Bangladesh, where mobile subscribers are targeted to grow by nearly 150 million in Asia Pacific by 2025, accounting for more than three-quarters of new subscribers, this new inclusive shopping experience will further accelerate growth, as it provides access to non-e-commerce users^[1].

“Our mission is to uplift communities through the power of commerce. This is a key milestone for us as we use technology to open a new market segment. By leveraging the increasing smartphone adoption rate in our markets and Microsoft Azure OpenAI Service in our app, “AskDaraz” will make the shopping experience intuitive for more users to transact with us. Internet users can now enjoy a conversational and truly personalized user experience that will alter South Asia’s e-commerce landscape”, said Bjarke Mikkelsen, Daraz Group, Chief Executive Officer.

 “We’re pleased to be part of Daraz’s journey in transforming the retail sector in South Asia through the robust capabilities of the Microsoft Azure OpenAI Service. As one of the leaders in the e-commerce landscape, Daraz is set to elevate its user experience for 30 million customers by amplifying product reach, deepening customer engagement, and enhancing overall satisfaction levels. It also aims to tap into new customer segments via its integrated ‘Discover’ feature within the app. This is the next step in helping retailers and ecommerce platforms jumpstart innovation and personalize customer experiences with the power of generative AI,” said Diomedes Kastanis, Microsoft APAC Chief Technology Officer.

Pakistan (Muhammad Yasir)

Lucky Cement Limited, Pakistan’s leading producer and exporter of cement, received the KCCI Export Trophy Awards for its outstanding achievements in the international market. Mr. Muhammad Ali Tabba, the CEO of Lucky Cement Limited, was honored with the prestigious KCCI Platinum Export Trophy Award for the company’s exceptional performance in the cement sector during the year 2020-21.

Lucky Cement Limited has successfully exported its cement to several international markets and regions such as South Asia, Southeast Asia, Middle East, and Africa. Lucky Cement Limited takes pride in its state-of-the-art storage terminal situated at the Karachi port, which boasts an impressive storage capacity of 24,000 tons.  This modern facility allows the company to excel in exporting not only break bulk and containerized shipments but also loose cement from Pakistan.

The recognition received by Lucky Cement Limited serves as a testament to its unwavering dedication to providing premium-quality products and maintaining the highest standards across all aspects of its operations. The company holds prominent ISO certifications, including ISO 9001:2008, 14001:2004, 45001:2018, and 27001:2022, reflecting its unwavering dedication to quality, environment, health, safety, and information security.

Mr. Muhammad Ali Tabba, CEO of Lucky Cement Limited, expressed his gratitude for the recognition, stating, “We are immensely proud to be acknowledged by the KCCI.” He further added, “Our focus is on implementing advanced manufacturing technologies aimed at enhancing technical capabilities and operational efficiencies. Our diversified business portfolio has helped us strengthen the country’s industrial base, enabling us to develop a larger manufacturing footprint and seize opportunities for growth both in local and international markets”.

Pakistan (Muhammad Yasir)

Pakistan Freelancers’ Association (PAFLA) and Mobilink Microfinance Bank Limited (MMBL) signed a strategic partnership to bolster financial literacy, inclusivity, and entrepreneurship across the country.

Under the collaboration, PAFLA and Mobilink Microfinance Bank will organize events and workshops, provide support to freelancers, offer academic assistance and establish incubation centers across Pakistan. Besides, the two partners will also collaboratively conduct roadshows and executive events all across Pakistan.

In this connection, The MoU was signed by Ghazanfar Azzam, President and CEO of Mobilink Bank and CEO PAFLA Tufail Ahmed Khan at Mobilink Bank’s Headquarters in Islamabad. Co-founder PAFLA Ibrahim Amin was also present on the occasion.

Through this strategic alliance and shared commitment, PAFLA and Mobilink Bank will strive to empower entrepreneurs and drive economic growth. Further, the Bank will open Freelancer Accounts for existing and new members of PAFLA besides providing them mentorship, training, learning opportunities, and co-working spaces across different cities.

These educational events will play a crucial role in creating awareness and understanding of the app’s features. By educating the public on the app’s functionalities, Mobilink Bank is committed to encouraging its adoption and enabling a greater number of individuals to access its inclusive digital and financial services.

CEO PAFLA Tufail Ahmed Khan said, “The trend of freelancing in Pakistan has been on the rise but there is a big room to further promote this workstyle across the country through providing training and capacity building programs to our people, particularly youth. In this regard, responsible institutions should come forward and play their crucial role in fostering human talent in the country.”

Co-founder and Chairman PAFLA Ibrahim Amin said, “The freelancers are playing a crucial role in bringing foreign exchange to the country. Our banks should provide them with easy account facilities by which they can serve the nation well without any issues and challenges.

Karachi (Muhammad Yasir)

A fintech company based out of Karachi, Swich, has won the Pakistan Innovation Hub Award that led to a grant of PKR 20 million, under the Ministry of Planning.

Presenting its innovative idea at the Pakistan Innovation Hub, Swich showcased its solution aimed at creating a digital Pakistan, fostering financial inclusion, and addressing critical macroeconomic challenges within the nation. The proposal received an overwhelmingly positive response, leading to Swich’s selection as the highest grant winner.

This notable accomplishment signifies Swich’s unwavering commitment to revolutionizing digital

payments in Pakistan, while also highlighting the government’s profound trust in the company’s vision.

Expanding on the news, the co-founder of Swich, Shah Aun Hussain briefed, “Swich is the first application in Pakistan that is providing major financial services empowering the retailer under a single application; we have 1,000+ retailers already registered with monthly transaction processed value above PKR 1 Billion which serves as product market fit. As the next step, we will use the support of relevant stakeholders to enhance and scale this platform across Pakistan. Our win at Pakistan Innovation Hub is not the cheque size, rather the fact that the government believes that Swich can make a difference in Pakistan, giving us

validation to digitize Pakistan’s economy through the retail segment”

Speaking at the event, Federal Minister for planning, development & special initiatives, Mr. Ahsen Iqbal said, “Pakistan Innovation Hub is a platform for all entrepreneurs to showcase their ideas and take government support in terms of grants to use as seed money to add value to the country. This initiative will bring some very promising companies of the future to the limelight in turn empowering a prosperous Pakistan, in line with Prime Minister’s vision 2025”

 

MG Pakistan Unveils Ambitious Plans: Introducing New Variants and Expanding Market Presence in 2023.

Lahore (Muhammad Yasir)  MG Pakistan, a prominent player in the country’s automotive industry aims to introduce two new variants of its popular models, the MG HS Excite and 2.0 AWD, in a bid to further strengthen its market presence and cater to evolving consumer preferences.

As part of their expansion strategy, MG Pakistan is also turning its focus towards the sedan segment, which currently holds a substantial 45% market share.

Asif Ahmed, General Manager Marketing Division, expressed optimism about the potential of the sedan market and revealed that their first sedan offering for Pakistani consumers might be the MG GT, a 1600 CC Sedan car.

Following the remarkable success of the MG C-SUVs, with over 15 thousand units sold in the last two and a half years, MG Pakistan sees great potential in the sedan category, as well as in other C and D SUVs.

Key to MG Motors’ vision is the localization of high-value parts to enhance competitiveness within the domestic market and explore potential export opportunities. While the company currently relies on imported parts due to its greenfield status, it aims to seek partnerships with global manufacturers to enable the local production of high-tech components, which will further contribute to the growth of Pakistan’s auto industry.

Amidst the prevailing economic situation, MG Motors remains positive about Pakistan’s automotive potential.

Asif Ahmed noted that Auto industry has always shown ‘V’ type recovery and indicated a promising and prosperous market in the near future.

MG Pakistan majority share holder Shanghai Motor International Limited (SMIL) have expressed a long-term commitment to the Pakistani market. As the fourth Knock Down (KD) plant globally, the MG plant in Pakistan represents a significant $100 million investment, reaffirming the company’s dedication to the country.

Currently, the MG plant has an annual production capacity of 25,000 vehicles. However, due to the impact of the economic situation, the monthly output has been limited to 400 cars.

Speaking about the difference between locally assembled MG vehicles, Asif Ahmed highlighted that the locally assembled MG HS Essence offers the same build quality and specifications as the MG HS Exclusive CBU.

MG Pakistan aims to maintain global standards and specifications for its clients, setting the brand apart from other local manufacturers.

Asif Ahmed emphasized that MG is the only company in Pakistan with Hybrid Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV), and Electric Vehicles (EV) in its lineup. He stressed the importance of a stable and long-term robust auto policy with a focus on New Energy Vehicles for Pakistan’s automotive industry.

Regarding the current industry trends and sales volumes, Asif Ahmed attributed the situation to economic turmoil and historic interest rates, resulting in price increases due to PKR devaluation, which has occurred in the past as well.

To transform into a vehicle export market, Pakistan must forge global partnerships for the production of high-value and high-tech auto parts. As the country has historically produced low-value auto parts, becoming competitive is essential for entering the export market. The potential for attracting Chinese investment in the Pakistani automobile sector is high, as Chinese companies are increasingly setting up production facilities outside China to export their vehicles.

Historically, the Pakistani market offered limited options to consumers, but with the entry of new players like MG, customers now have access to various quality options and enhanced features and warranties.

MG is part of SAIC, the number one Chinese and the sixth-largest global automobile group, which encompasses several well-known automotive brands. With a legacy spanning 99 years as a notable British brand, MG stands as a significant joint venture between SAIC and local partners, with the SMIL holding a 51% stake and the local share at 49%, indicating their long-term commitment to the Pakistani market.

Asif Ahmed proudly highlighted the industry benchmarks set by MG, offering features such as 6 airbags, Auto Pilot, Lane Assistance, Traffic Jam Assistance, and an impressive 150,000 warranty for their customers. He expressed the desire for healthy competition among Pakistani automobile players, where the focus is on providing the best options and features to benefit consumers and not just the sellers.