News Update Times

Lahore (Nut Desk)

Khushhali Microfinance Bank Limited (KMBL) in collaboration with the Institute of Rural Management (IRM) has successfully completed the skill development program for women from Rawalpindi’s marginalized communities. The aim of the program was to empower women through skill-based learning and financial literacy programs so they play an active role in the community. 

The training program included a tailoring and beautician course for the women. KMBL also provided sewing machines and makeup kits in an effort to encourage and support them in launching their own businesses. 

A financial literacy session was also conducted to impart knowledge and understanding of financial concepts along with banking products and services.

Training was also carried out to develop skills and attitudes toward budgeting, savings, investment, debt management, financial negotiation as well as rights and obligations. Participants shared at the end of the training programme that they had begun significant earnings and were supporting their families.

President & CEO of Khushhali Microfinance Bank – Mr. Ghalib Nishtar stated that: “Skill-based training programs are a progressive step towards empowering underprivileged women to be independent and generate sufficient incomes to support their families. I would like to thank the Institute of Rural Management for joining us in this great initiative. We will continue to work alongside local partners to provide women with the necessary support and foster environments where they can contribute alongside men.”

Through customized products, education, vocational training, and entrepreneurship support, KMBL equips women with the knowledge, skills and resources to break into the formal economy.  Khushhali Microfinance Bank Limited is offering Khushhali Niswan, a series of products and services to help women to initiate enterprises and sustain their businesses.

Lahore (Nut Desk) To expand the benefits of mobile broadband, especially among low-income segments in Pakistan, Jazz Digit 4G has been recognized as a successful rollout globally by the organization representing mobile network operators, GSMA.

According to the GSMA’s ‘Making internet-enabled phones more affordable in low and middle-income countries’ 2022 Report, affordability is a key barrier for 3.4 billion people living in areas with mobile broadband coverage but not using mobile internet. The affordability of handsets remains a key barrier to mobile ownership and mobile internet adoption, particularly for women and rural populations. In Pakistan, 42 percent of cellular subscribers don’t use mobile broadband.

Addressing the affordability barrier to mobile phone ownership in Pakistan, Jazz was the first local mobile operator to offer 4G smart feature phones at very affordable prices starting from PKR 4,500. Upon its purchase, users are provided free access to social media sites and free Jazz to Jazz calls during the first three months. Recently a new Digit 4G range, the touchscreen ‘Energy’ series, was launched offering more RAM, memory and better battery life.

Aamir Ibrahim, CEO, Jazz said, “We have always remained focused on our commitment to ensuring digital services are available to everyone. However, one of the key barriers to achieving this ambition is affordability of internet-enabled handsets particularly amongst the women of Pakistan. The successful rollout of the Jazz Digit 4G smart feature phones highlights the potential of launching an industry-wide instalment-based ‘smartphone for all’ program with an effective regulatory cover to facilitate the purchase of smartphones among low-income groups.”

Julian Gorman, Head of Asia Pacific, GSMA, said: “During the Covid-19 pandemic, progress in reducing the substantial mobile internet gap has stalled across low- and middle-income countries, and in some countries the gap has even increased. Against this landscape it is wonderful to see one of our Connected Women Commitment Partners, Jazz, working intentionally to create products like Jazz Digit 4G, which helps to increase access to affordable smartphones and mobile internet, a key challenge for many women. Since 2016, the Connected Women Commitment Partners have reached an additional 55 million women with mobile internet and mobile money services. We remain committed to continuing this work, supporting partners like Jazz to reach even more women and close the gender digital divide.

At Jazz, one of the key priority areas is improving access to smartphones and the internet as these are fundamental requirements to digitally and financially empower millions, enabling them to access education, health and other life-enhancing services. Jazz also has a strong focus on bridging the digital gender gap. As part of the GSMA’s Connected Women Commitment Initiative, Jazz has committed to increasing the proportion of women in its mobile internet customer base by 8 percent by the end of 2023 with a dedicated focus on female smartphone ownership. JazzCash has already met its GSMA Connected Women target two years ahead of time with 22% women subscribed to JazzCash wallets.

The latest entrant in the realme 9 series wraps up a successful pre-order phase and is now available across the country

After a bustling week of pre-orders, the realme 9 Pro+ is finally available for purchase starting today, Monday, April 25, 2022. Wrapping up a successful week, the realme 9 Pro+ has seen a 80% sell-through in the time period. Being a true 5G popularizer, realme continues to help people prepare for the arrival of 5G in the country by providing 5G enabled products at economical prices. This is no different when it comes to the realme 9 Pro+. Not only does it have advanced 5G capabilities, the realme 9 Pro+ houses innovations of all kinds for users to enjoy. Starting from the surface, the Sunrise Blue variant of the realme 9 Pro+ comes with an iconic glittering Light-Shift Design which discolors the rear panel from blue to red when exposed to sunlight or UV light thanks to its photochromic panels. With each new release, realme’s reputation as a brand that delivers good value for money grows exponentially. Let’s take a closer look at the spectacular specs hidden inside the realme 9 Pro+ in order to investigate the true value it provides.

Upgraded Camera Capabilities

The realme 9 Pro+’s camera module is incredibly high-end. The rear camera features a triple AI camera setup including a 50MP primary Sony IMX766 sensor with OIS + EIS, an 8MP super-wide lens for shots taken from a large angle and a 2MP macro lens for close-up photography. The realme 9 Pro+ introduces the Sony IMX766 sensor to this price segment for the first time. When compared to previous generations of Sony sensors, the Sony IMX766 is able to capture 63.8% more light. With a pixel size of 1 μm and a matrix size of 8.19 mm x 6.14 mm with a 45.51-inch diagonal, the Sony IMX766 sensor allows the realme 9 Pro+ to have vastly improved nighttime and low-light performance. Thanks to the large 50MP sensor you can record more details about the scene you are trying to capture without a huge increase in the final file size. realme’s ProLight Technology uses a combination of the Sony IMX766 sensor, OIS + EIS, and the AI Noise Reduction Engine 3.0 to enhance your final product and make your images brighter. OIS + EIS are two forms of image stabilization and work to counteract any slight movements the hand or phone during the process of capturing images. The AI Noise Reduction Engine 3.0 is an AI based software development that reduces digital noise in your final product by 30%.

Power-Packed Processor

The realme 9 Pro+ comes fitted with a cutting-edge MediaTek Dimensity 920 5G chipset which includes multiple features that make the gameplay experience smoother and more enjoyable. Its Arm Cortex-A78 CPU can clock processing speeds of up to 2.5Ghz. The effect of this breakneck speed is seen in faster response times of apps, overall higher FPS when gaming and improved network connectivity. The chipset also comes with a powerful Arm Mali-G68 GPU which functions as a more power efficient version of the Mali-G78. The Dimensity 920 chipset also acts as the backbone supporting the realme 9 Pro+’s 5G capabilities. Lending support for dual 5G SIMs, faster 5G carrier aggregation, 5G call and data concurrency 3.0, and super-hotspot power saving mode, the powerful chipset is responsible for carrying realme into the future. The advanced MediaTek Dimensity 920 also comes equipped with an intelligent refresh rate which adjusts the refresh rate of the display according to what activity is being performed at the time. Thanks to this, the refresh rate is lowered whenever it is not in heavy use in order to improve power efficiency.

The realme 9 Pro+ contains a host of other amazing features. The handset features a stunning Super AMOLED display with a 90Hz refresh rate for an improved viewing experience. The combination of a colossal 4500mAh battery and lightning fast 60W SuperDart charge ensures your usage isn’t interrupted. The realme 9 Pro+ also features Hi-res certified Dolby Atmos Dual Stereo Speakers and is built with realme UI 3.0 which is based on the latest Android 12. You can get all of this and more by purchasing the realme 9 Pro+ at your nearest smartphone store or through Daraz for just PKR 69,999/- so hurry and grab yours today!

Lahore (Muhammad Yasir) This Ramzan, UPaisa is offering exciting rewards to Ufone 4G prepaid customers for extending financial aid to donation companies and public welfare organizations in Pakistan.

In order to express gratitude to donors, UPaisa will offer rewards on donations done through UPaisa application. Ufone 4G prepaid customers donating Rs. 50 or higher will receive 1000MBs, 1000 on-net minutes, and 1000 SMS with 24-hours validity.

Making donations through the UPaisa app is extremely convenient and hassle-free due to the user-friendly interface. For consumer ease, the app lists all the leading donation companies for contributions as per the donor’s choosing. Each of these donor organizations and public welfare projects listed on the UPaisa app solely depend on our generosity and altruism to make a difference for millions of deserving people.

Edhi Foundation, Akhuwat, Jabir Bin Hayyan, Shaukat Khanum Memorial Trust, Shifa Foundation, Shifa Eye Trust, Health and Nutrition Development Society, Rashid Khan Trust, The SCP and PM of Pak Diamer Bhasha and Mohmand Dams Fund, Saylani Welfare International Trust, Pink Ribbon, Alkhidmat Foundation Pakistan, Vision Forty Seven Foundation, PM COVID 19 Pandemic Relief Fund, Bait us Salam Welfare Trust, Sundas Foundation, Rizq Trust, Idara Tul Mustafa Trust, and Dawat e Islami Trust await our support via UPaisa app.  

A large number of Pakistanis use the UPaisa app to make contributions in accordance with the true spirit of the Holy month of Ramazan and it is necessary to provide a transparent and safer donation experience, ensuring all donations go to the deserving people. In light of this, UPaisa lists donation companies duly verified by the Ministry of Interior (Pakistan). UPaisa Ramazan offer is valid till the end of Ramzan 2022.

The donation companies list is available on Android App and can also be accessed by dialing USSD *786*8#. All rewards will be pushed on to the next day of the transaction. Let us extend our generous support to these organizations, so that they can help out the deserving. 

Lahore (Muhammad Yasir) Carrefour, fully owned and operated by UAE based Majid Al Futtaim in Pakistan, signed a Joint Venture Agreement with the Defence Housing Authority (DHA) Lahore on 26^th April 2022, to establish two standalone stores.

The agreement was signed by Umer Lodhi Country Manager, Carrefour Pakistan at Majid Al Futtaim Retail and Administrator DHA Lahore in the presence of Thierry Louis Joulin Chief Operating Officer Majid Al Futtaim Retail at DHA Head Office, Lahore. The stores will not only expand the local footprint of the retail leader in the country but also provide economic support to at least 500 households through creation of direct and indirect jobs. 

Carrefour’s PKR 1 billion investment for the establishment of these two new stores brings the total investment to PKR 11 billion the retailer has already made towards the retail industry in Pakistan. Notably, these ventures underscore Carrefour’s dedication to becoming a trusted local partner that creates value for the industry and Pakistani economy. As a testament to this, Carrefour works with more than 700 suppliers and partners across Pakistan, sourcing 99 per cent of its products locally.  This most recent investment will bring customers greater access to affordable, high-quality products while also supporting the nation’s supply chain.

Speaking at the occasion, Umer Lodhi Country Manager Carrefour Pakistan, said: “As the economy begins to return to its pre-pandemic course and both Carrefour stores prepare to serve a wider customer, we are also working together to provide economic support to hundreds of households. This reflects our commitment in action for the local economy’s revival as we provide business and employment opportunities for greater and more inclusive economic prosperity.”

Administrator DHA Lahore said “This Joint Venture with Carrefour is our testament on building on our commitment of creating a world class sustainable and congenial community living experience for our worthy residents.”

In addition to the convenience of in-store shopping for quality products at its ten stores in Pakistan, Carrefour also offers its delivery service through Carrefour Pakistan app to better serve its customers. The app can be downloaded from Google Play Store and Apple’s App Store.

Karachi (Muhammad Yasir) The Board of Directors of Bank Alfalah Limited (BAFL), in its meeting held on April 26, 2022, revealed BAFL’s financial results for the quarter ended March 31, 2022. The Bank’s impressive performance for 2022 is an endorsement of its customer centricity and product innovation driven by the growth strategy.

The growth trajectory continued in the first quarter of 2022. The Bank declared record profit after tax of 5.019 billion, showing a double digit growth of 45% YoY, that translated into an EPS of Rs. 2.82 (SPLY: Rs. 1.95). This is one of the highest growth in profit after tax for Q1 across the industry, and is the testament that Bank Alfalah is maintaining its competitive position in the industry.

During the period under review, the Bank’s revenue increased by 31.9% backed by strong net interest income and non-interest income growth. The Bank’s net interest margins improved year on year as a result of well thought out, focused and prudent ALM strategy, along with strong deposits growth. The growth continued the upward trajectory with a growth momentum in home remittance business and trade flows, increase in market share, higher debit and credit card spend.

Non-markup expenses were 21.6% higher compared to the same period last year. This surge was driven by the full year impact of new branches opened last year along with expenses attributable to new initiatives. The Bank continues to invest in technology, people and businesses, to improve market share and to become a leading transactions Bank. Despite the investment in multiple initiatives, Bank Alfalah witnessed an improvement in the cost to income ratio to 55.1%.

The Bank’s quarter end deposit footing stood at Rs. 1.178 trillion at the end of Q1’22, with YoY growth of 29.0% compared to Q1’21. The Bank continues to outpace the industry in deposit growth as well as exceptional current account growth. The current and savings accounts achieved an impressive YoY growth of 31.0% and 35.6% respectively. Bank Alfalah’s CASA mix noted an increment to 80.6% versus 78.2% SPLY that reinforces the clients’ trust on the Bank.

The Bank grew loans by record 17.3% YoY, while maintaining stellar credit discipline and a strong balance sheet with significant capital and liquidity positions. Part of this growth is backed by government-backed schemes for economic development, in which the Bank’s delivery of Mera Pakistan Mera Ghar and Prime Minister’s Kamyab Jawan Scheme is ranked amongst the top performing banks. The Bank, not only achieved the targets but also added value to these initiatives of SBP with effective marketing. As at the period end, the Bank’s gross advances to deposits ratio achieved 60.4%, which is one of the highest in the industry. The Bank’s non-performing loans ratio stood at 3.4%, while the non-performing loans remain fully covered.

Despite the robust growth in advances, the Bank’s remains adequately capitalized, and well above the regulatory requirement with 14.77% as at December 31, 2021.

This momentum will continue, despite the prevailing uncertainty, since the Bank is committed to its strategy of growth, customer centric approach and innovation.

Lahore (Nut Desk )  Oil Companies Advisory Council (OCAC), the primary representative of the downstream oil industry of Pakistan, has reported that ample stocks of Motor Spirit (MS) & High Speed Diesel (HSD) are available in the country owing to, the support of refineries in providing locally produced fuel products, and to OMCs for planning imports and meeting volume commitments timely despite the limited product availability in the international market due to geopolitical tension.

Since HSD sales have drastically soared in the country due to the harvesting season, OCAC is actively playing its role to effectively manage the surged demand in consultation with the industry, OGRA (Regulator) and Ministry of Energy (Petroleum Division).

Pertaining to the details for uninterrupted fuel supply in the country, cargoes carrying sufficient HSD volumes are already waiting off-port and will be discharged on their due turn, while other planned cargoes are expected to arrive soon. Similarly, Motor Gasoline reserves are sufficient to meet the demand of the country, while additional volumes are coming in through planned imports. 

Further commenting on this, Dr. Nazir Abbas Zaidi, Secretary General OCAC said that, “Pakistan is an energy deficient country, therefore deficit in fuel supplies is catered through imports. As a result of constantly increasing imports volume and infrastructure constraints, there are challenges at ports owing to congestion/bunching of vessels, etc. However, OCAC is effectively striving to handle these challenges in collaboration with OGRA by suggesting recommendations to ensure that the fuel supplies remain streamlined. Hence, it is vital to avert uncertainty and abnormal buying patterns amidst ambiguous speculations.”

OCAC further reiterates that there is ample inventory of fuel supplies in the country, including cargoes waiting off-port and other vessels lined up to arrive soon, therefore, citizens are requested to buy fuel products as per regular demand and not let ambiguity translate into desperate bulk buying.