News Update Times

Karachi (Muhammad Yasir) Shell Pakistan Limited (SPL) inaugurated its newly revamped integrated retail outlet, SPL Defence Service Station, located at Khayaban-e-Bahria in DHA Phase 5 Karachi. The new retail outlet has been reconstructed and equipped with Shell Recharge, an expanded Shell Select outlet and a bigger Shell Car Wash facility.

The latest additions to SPL Defence Service Station cater to the evolving needs for cleaner fuels and automobile services on the go. The newest addition to the outlet is Shell Recharge, an electric vehicle (EV) charging station. This is the 3rd EV charging facility installed in collaboration with K-Electric in continuation of Shell Pakistan’s strategy for powering progress in Pakistan. The retail outlet is powered by solar energy, a 45 kW solar panel has been installed in collaboration with K-Solar to provide cleaner energy sources, enabling uninterrupted and efficient operations. The modernized Shell Select store offers high-quality snacks, beverages and groceries, with a convenient and renewed shopping experience for consumers.

Speaking at the inauguration, the Chief Executive & Managing Director of Shell Pakistan Limited, Waqar Siddiqui stated, “We are pleased to provide a new experience for residents and customers around SPL Defence who are looking for a wide range of products, a suite of value-added services, clean energy and other mobility solutions. Shell Recharge is another step toward a cleaner and sustainable energy future for the fast-growing segment of Electric Vehicles. With such innovations on-site, Shell Pakistan remains committed to its objective of serving the nation and its people.” Muhammad Aamir Ghaziani, Chief Financial Officer at K-Electric, stated, “KE’s partnership with Shell is bringing us closer to the goal of reforming the transportation sector with a reduction in carbon emissions, which currently stand at 46% of the nation’s total carbon footprint.

As a forward-looking company, KE is actively working to increase the share of renewable energy as well. With this spirit of collaboration, we are optimistic that we will achieve our goals to offset carbon through renewables and deploy the necessary infrastructure to support this transition for a better and more sustainable future.” Hashim Raza, Chief Executive Officer at K-Solar stated, “K-Solar is pleased to have played a part in facilitating sustainable mobility with the partial solarization of Shell’s EV charging site at Bahria, DHA.

In total, my teams and I have placed solar systems at 11 SPL sites across Pakistan which will provide their petrol stations with more sustainable energy for powering their pumps, retail store and other services.” SPL Defence Service Station has an efficient complaint management system with professionally trained staff members who are responsive, friendly and open to customers’ feedback related to specific Shell products and services. Customers can always approach site staff with feedback or report it via 0800-SHELL or email at generalpublicenquiries-pk@shell.com.

• Discounts across numerous categories including groceries, electronics, textiles and household appliances.
• Carrefour’s summer mega sale hopes to help customers stay cool during the heat wave.

Lahore (Muhammad Yasir) Carrefour, fully owned and operated by UAE based Majid Al Futtaim in Pakistan, has launched a surprise, themed mega sale to make this summer cooler and more exciting amidst rising temperatures. Customers can escape the scorching heat wave by shopping in a chilled and expansive environment at ten Carrefour stores across Pakistan and can also avail amazing summer offers online via Carrefour’s website or mobile application.

As per the forecast, the country’s weather is expected to stay hot and dry throughout the month of June. The incredible discounts are geared towards the products that customers use on a daily basis to deal with the scorching summer heat, covering fresh foods, groceries, electronics, textiles, health, and homeware, as well as heavy household appliances like refrigerators, water coolers, and air conditioners. Special cashback offers are also applicable online to make shopping more comfortable and convenient.

Umer Lodhi, Country Manager of Carrefour Pakistan said, “Carrefour Pakistan remains committed to supporting our surrounding communities by delivering unbeatable value through every experience, year-round. With temperatures soaring, we are excited to offer an assortment of special deals that will make this summer more exciting and enjoyable for everyone. We have worked closely with our sales team to identify our customer’s favourite products during hotter months so that we can ensure the very best value in terms of quality, price and selection”

 The mega sale will be available at all Carrefour stores in Karachi, Lahore, Gujranwala, Faisalabad, and Islamabad throughout the season. In addition to the convenience of in-store shopping, Carrefour also offers its delivery service through the Carrefour Pakistan app and customers can use MyClub to gain instant discounts, earn and redeem points, and to better serve its customers. For further information, please head to www.carrefourpakistan.com to discover the hottest deals.

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National Bank of Pakistan (NBP) conducted Islamic Banking Awareness Sessions in Mohmand Agency, Swat and Charsada. Mufti Nadir Khan, Team Leader Shariah Compliance Department, NBP Aitemaad Islamic Banking addressed the sessions along with NBP’s KPK Aitemaad Islamic Banking regional team.

Saima Group & Agha Steel join hands to Launch Pakistan First Eco Friendly Green Housing Structure Project 

Karachi (Muhammad Yasir) Agha Steel Industries Limited, a leading Steel manufacturing company has signed an agreement with Saima Group for exclusively providing Green Electric Arc Furnace Technology steel rebars to its first of a kind Eco-Friendly Green Housing Structure Project “Saima Premium Residency”. Saima Group is a name associated with quality and trust in the real estate planning and development sector of Pakistan, having successfully delivered many mega projects for both residential and commercial to its customers. Addressing the occasion Mr Zeeshan Zaki, Chairman Saima Group said “We are very excited to launch Saima Premium Residency as Pakistan’s first Eco-Friendly Green Housing Structure project that shall be built exclusively with the finest and most technologically advanced rebars supplied by Agha Steel. In accordance with our long term goal of transforming into an environmentally conscious organization, it is our aim to partner with firms that share our values to give sustainable developments for our future residents”

He further added “We couldn’t have found a better partner than Agha Steel for providing Steel for this visionary project as they are the only company in Pakistan that provides 100% refined quality steel by using green steel technologies.”

At the signing ceremony Mr Hussain Agha, CEO Agha Steel, also expressed his view and noted “We are delighted to be entering into this agreement with Saima Group for providing steel to Pakistan’s First Eco- Friendly Green Structure Project. This is a great initiative by Saima Group as the leaders of the industry must play a pivotal role to ensure a sustainable and greener future for our generations to come. This agreement is testament to our aligned visions and ambitions for a Greener Pakistan.”

Agha Steel Industries led a Green Steel Revolution through sustainability of its energy mix by installing a 2.25 Megawatt solar power project and signing a term Sheet with Engro Energy for Renewable Energy. Agha also stated, “Our State of the art plant utilizes scrap-based Electric Arc Furnace (EAF) technology. By using recycled scrap for our raw material, we reduce the need for natural resources. Our CO2 Scope 1 green-house gas emissions and energy consumption intensities are approximately 7 times less than the global steel making average, making the Green Arc Furnace Technology environmentally friendly.”

Lahore (Nut Desk)

Dr. Miftah Ismail, Finance Minister, and Shaukat Tarin, former Finance Minister, agreed on forming a Charter of Economy among the political parties while putting aside political differences for sustainable economic growth on a long-term basis. Speaking as chief guest at the webinar on National Dialogue on Economy: The Way Forward for Pakistan, organized by Nutshell Conferences and Corporate Pakistan Group, on Saturday, Miftah Ismail said Prime Minister Shahbaz Sharif is ready to sign the Charter of Economy on a minimum agenda despite different ideologies of various political parties. He said the growth in the economy is achievable in Pakistan with its huge size of the population but the sustainable economic growth has been a challenge over the period last years, which needs to be addressed mutually by everyone in the government and the private sector. Consistency is the key to economic policy and the present government should honor the commitment made by the previous government as part of the sovereign guarantees of the country and international laws.

Pakistan needs nearly $37 billion for the next year for the purpose of paying loans to various agencies and countries, controlling the current account deficit, and building the required foreign exchange reserves but these could be done only with the signing of a program with the International Monetary Fund(IMF).Going forward, the government will focus on discouraging import-led growth in the economy, whereas the manufacturing sector should be given preference to enhance exports, Miftah said and added. The government will work on revolutionizing the agriculture sector, which will particularly meet the local demand for food items. He said the government will not impose any ban on traveling, raw materials, and essential items but only on luxury and non-essential items. Also, the tax rate will not be increased on the income of the people, he added.

Former Finance Minister Senator Shaukat Tarin said the Charter of Economy is very important for the country which he proposed many years ago. Political differences should be put aside and the economic agenda should be agreed upon. A few of the next months are difficult ahead but the situation will be improved after the general elections, he added. Pakistan needs inclusive and sustainable growth for a long period of time. In this regard, the saving-to-GDP ratio and tax-to-GDP ratio should be increased with incentives and schemes in the next five to six years. The gap between export and import stands at 12% which should be reduced to 6% and to zero in the next few years, Tarin added. The former minister suggested the central bank and the government to issue new licenses to banks on the basis of regional boundaries.

Ghias Khan, President Overseas Investors Chamber of Commerce (OICCI) said a long-term and consistent policy is in dispensable to attract businessmen and foreign investors. Pakistan should focus on its food and energy security on a priority basis. Also, Pakistan should focus on technology services which has immense potential to enhance exports and local productivity, Ghias Khan. The country needs to enhance the production of wheat and essential crops for meeting its local demand and boosting exports of agri-products. Further, he added the country is rich in mineral resources which can be translated into its lucrative exports. The investment should be encouraged in the productive sector instead of the real estate: We have to build skillset of the young population to make their role more productive in the economy.

Muhammad Aurangzeb, Chairman Pakistan Business Council (PBC) said the cross-party consensus is very important in Pakistan because the business needs sustainability and the consistency of policy. Hence, the Charter of Economy is the need of the hour, he added. There is no dearth of thinking prescriptions in the country but we need timely decisions and timely execution, he added. We have to focus on capacity building of our youth in every sector which will ultimately produce results in the economy. We have to make an enabling environment for freelancers, which are growing in numbers in Pakistan.

Farrukh Khan, Management Director Pakistan Stock Exchange (PSX) said the political challenges should be addressed in the first place before going to fix socio-economic issues in the country. The government is focusing on the documentation of the economy but the aspect of taxes should be realized to stabilize it, he added.

Political stability is very important when it comes to attracting foreign investment and boosting local investment in the country said Amjad Waheed, CEO NBP Fund Management Limited. The privatization of the State-owned Enterprises (SECs) as these are eating up over Rs 1 trillion of the valuable revenues every year whereas the government’s expenditures and debt of the country should be reduced gradually, he added.

The yield of Pakistan’s agricultural land should be enhanced which could be done through various measures including farm mechanization and the supply chain management for effective gains of the agriculture sector, said Maheen Rahman, CEO Infra Zamin. We should focus on energy sufficiency, agriculture and food security, and business efficiency, she added.

Lahore (Muhammad Yasir) Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has partnered with DIGIT, a leading technology brand of Swift Biz Solutions Pvt. Ltd. in Pakistan, to bolster Pakistan’s digital and financial ecosystem. Under this strategic partnership, MMBL will accelerate digital inclusion by enabling its deposit account customers to purchase DIGIT smartphones (Glory1, Play1 & Energy) at an affordable and subsidized price from selected MMBL branches. Ghazanfar Azzam, President & CEO of MMBL, and Abdul Rehman Mahmood, Founder & CEO of DIGIT signed the partnership agreement, in presence of senior officials from both organizations.

Through this alliance, MMBL will allow new and existing deposit account customers to perform daily transactions such as fund transfers, utility bill payments, mobile top-ups, and other services via the preinstalled DOST APP in the Digit 4G smartphone or by using the DOST USSD code i.e. *8792#.

Sharing his thoughts at the signing ceremony, Ghazanfar Azzam, President & CEO of MMBL said: “As a market leader in digital banking, we continue to focus on introducing customer-centric digital financial solutions for bridging the digital divide and promoting financial inclusion across the nation. Our collaboration between MMBL and DIGIT will not only make digital banking accessible for our customers but also supplement the deployment of customized financial products and services on smartphones as well as smart-enabled feature phones.”

On the occasion, Abdul Rehman Mahmood, Founder & CEO of DIGIT, said, “Currently, a large segment of Pakistan’s population is lacking the opportunity to join the global digital revolution and financial inclusion. We are pleased to partner with Mobilink Microfinance Bank for this strategic partnership. DIGIT is a ‘Made in Pakistan’ brand for the people of Pakistan, and innovation with affordability is the key to the success for us. We have introduced the first of its kind affordable Touch and Type Smartphone (DIGIT Energy) for the masses. We are also planning to introduce Buy Now Pay Later for our phones. Our partnership with MMBL will help in bringing banking facilities to customers in every corner of the country.”

Deposit account customers interested in purchasing the DIGIT smartphones will be required to fill out a form. The handset will then be delivered to the mentioned postal address via Cash on Delivery (COD). Customers can also visit the nearest DIGIT retailer shop for buying phones. Moreover, for registering any complaints, customers can call the UAN at 0304-111-4123, which will be resolved within 24 hours.

MMBL has ensured continued top-line growth in the digital banking sector. Through its strategic partnerships, MMBL is committed to banking the underserved and unserved customers with innovative digital financial solutions. In line with the Bank’s unwavering commitment to fostering digital inclusivity, MMBL is continuously exploring new avenues to improve its portfolio that uniquely serves its customers’ growing financial needs.

Lahore (Muhammad Yasir) Easypaisa, Pakistan’s leading digital payments platform, has introduced yet another innovative feature enabling users to earn daily profits through a single click. Easypaisa users can now use the in-app savings product to earn a percentage on their existing account balance every day.

The revolutionary product is designed to financially empower all Pakistanis to take control of their finances through convenient and secure digital savings. By simply clicking ‘Subscribe’ to any of the available plans, Easypaisa App users can immediately start earning up to 9% annual profits, posted daily with no hidden restrictions. No amount of users’ funds are locked; all they have to do is maintain a higher balance than their chosen plan threshold and keep making profits. Whether an existing Easypaisa user or a new one, the savings product is available for everyone.

Commenting on the development, M. Mudassar Aqil, CEO, Easypaisa and Telenor Microfinance Bank said; “As a predominantly cash-based economy, there has always been room for improvement in saving habits of Pakistanis. With a major share of household budgets already allocated to basic sustenance needs, most people across the country struggle to save. At Easypaisa, we remain committed to empowering everyone to take control of their finances through convenient digital means and our in-app savings product is a key step in this regard. Now, practically anyone can start saving and earn profits daily through their Easypaisa account without any entry and exit barriers”.

With more than 10 million customers using the Easypaisa App in the last 30-days across the Android and iOS platforms, Easypaisa is the most used Pakistani App across all categories and remains committed to transforming Pakistan into a cashless and financially inclusive society through the power of collaboration & technology.