News Update Times

Karachi (Muhammad Yasir)  Engro Energy Limited in collaboration with the National Electric Power Regulatory Authority (NEPRA), Ministry of Energy, Govt. of Sindh, Overseas Investors Chamber of Commerce & Industry (OICCI), and Corporate Pakistan Group held ‘Pakistan Energy Symposium’ at a local hotel today.

The conference brought together relevant stakeholders from public sector policymakers, regulatory bodies, private sector stakeholders and industry experts to discuss the opportunities and challenges for market reforms in Pakistan with a major focus on creating a comprehensive strategy for the future of energy industry in the country. Experts at the symposium discussed the regulatory, commercial, and technical aspects of transitioning towards a liberalized and a greener energy market in Pakistan.

Addressing the symposium, CEO of Engro Energy, Ahsan Zafar Syed said, “The energy industry is the backbone of any developed economy and Pakistan is now ready to move into a competitive energy ecosystem. Transitioning from a single-buyer market to a multi-buyer system can pave the way for an efficient customer-centric energy market. It will also stimulate private infrastructure investments; lead to economic growth; give consumers access to reliable and economical power; ease pressure on electricity prices and create conditions for fair allocation of risks.”

Elaborating on Engro Energy’s initiatives in the renewable energy sector, Ahsan commented: “In line with the government’s vision of moving towards 60% green energy solutions; Engro Energy is also committing itself to expand in the renewable energy space. Our project in Jhimpir, Sindh will help solve the pressing issue of powering our industries at Port Qasim through competitive and green energy solutions. As we move ahead, Engro Energy will continue to play a part for a better and prosperous energy sector, and we welcome the efforts of both Federal and Provincial government including the regulator – NEPRA in forwarding this cause for the benefit of Pakistan”

In his opening remarks, Chairman NEPRA Tauseef H Farooqi talked about the initiatives he had taken at the regulatory authority. Talking about the CTBCM, Mr Farooqi said that he had spent a lot of time on this. “CTBCM is like creating a motorway…we have a successful model of the telecom industry and we are trying to replicate that… we are giving a choice to consumers,” he said.

“What do we want to achieve: move from the multi-seller single buyer model to multi-seller multi buyer model. Why is this important? Investors and businessmen are facing challenges which we believe they will be able to overcome with the multi-seller multi buyer model. We are liberating the market. You can do the buying and selling of your own electricity. We are trying to deregulate the market,” he added. 

The conference was attended by Muhammad Azfar Ahsan, Minister of State and Chairman, Board of Investment (BOI); Ghias Khan, President, Overseas Investors Chamber of Commerce & Industry (OICCI); Muhammad Aurangzeb, Chairman, Pakistan Business Council (PBC); Dr. Shamshad Akhtar, Chairperson, Pakistan Stock Exchange & Former Governor, State Bank of Pakistan; and, Rafique Ahmed Shaikh, Member Sindh, NEPRA amongst other key dignitaries.

The dialogue focused primarily on the planning initiatives & policy interventions, its role in market reforms, the role of technology in the multi-buyer market, private sector participation and customer-centric focus on the deployment of competitive market system in the country. Two separate panel discussions on “Building Pathways for Market Liberalization” and “Unlocking the True Potential of Power Market Players” were also part of the symposium.

 

 

Lahore (Nut Desk)

Easypaisa, Pakistan’s No. 1 Payments App has revolutionized sending money to any CNIC number across the country. Users can transfer funds instantly and conveniently to any CNIC number across Pakistan anytime, anywhere, even to people who do not have a bank account. With the largest retailer footprint of more than 189,000 registered agents across the country, Easypaisa is the pioneer of introducing peer-to-peer OTC payments in Pakistan, the first step of banking innovation. With Easypaisa, users can transfer money to any valid CNIC irrespective of whether the person at the receiving end has an Easypaisa account or not.

The receiver can easily withdraw funds through Easypaisa’s widespread agent network of over 189,000 registered agents across Pakistan, or alternatively signup on the Easypaisa App, create an account within minutes and utilize the funds through 50 + use cases available on the platform. Easypaisa has launched a very relatable campaign on situations where money transfer becomes an absolute necessity especially when people do not have convenient modes of access to funds available to them. The DVC shows a story of a domestic staff who has ended up in his village and wants emergency funds- received from his employer.

Employer tries to get the funds to his staff but is unable to because the receiver does not have an active bank account. Finally, the employer asks his staff to share his CNIC number, he then transfers money to his staff’s cnic via the Easypaisa App, through which funds are received instantly.

The domestic staff is then seen thanking his boss. Easypaisa’s core payment feature, Mobile Account to CNIC payments use case has been beautifully depicted in this DVC. After leading the way in Pakistan’s digital payments landscape, Easypaisa continues to create an immersive experience for its users through creative and out-of-the-box advertising.

 

Lahore (Nut Desk)

OPPO has revealed superstar Mahira Khan and Fawad Khan as its new Brand Ambassadors for 2022. OPPO, ranked among the leading mobile phone manufacturers of the world, announced this exciting new partnership with the acclaimed artists. The duo will be seen spearheading innovative new products and activities including F21 Pro launch. The phone is anticipated to get people’s attention for eye-catching sunset orange fiberglass leather design.

Remarking on the ambassadorship, Mahira Khan said, “I am thrilled to be working with OPPO. The brands commitment to innovation and connection is one that I relate to and I look forward to showcasing their outstanding new products”.

Alongside announcing these two highly charismatic celebrities as the Brand Ambassadors, OPPO Pakistan is also excited to announce the fantastic OPPO F21 Pro.

OPPO has further leveled-up the ‘A’ game with the very creative yet promised slogan ‘Fantastic Selfie, Fantastic Style’ for its upcoming OPPO F21 Pro.

The OPPO F series smartphones of today are very different from those of the past, but one constant has been OPPO’s desire to innovate. The F series has come a long way since its debut, with additions including smart design and VOOC charge technology as well as massive improvements in the quality of its camera, display, and playfully unique colors and design.

With its new OPPO F21 Pro smartphone, OPPO, one of the pioneers of the selfie movement, aims to continue the trend. With so many selfie-centric phones in the market, it’s obvious to see why OPPO dubs itself as the “Selfie Expert and Leader.” The company has been in the selfie game for a long time and has no plans of slowing down.

A technological feat in the midrange price bracket, the OPPO F21 Pro puts the focus on industry’s first fiberglass-leather design and processing, with the flat-edge design, leatherette and sunset orange is the must have fashion elements. The gorgeous sunset orange will be the new trend in Ramadan. The OPPO F21 Pro known as the “Fantastic” phone is an amalgamation of technical advancements coupled with a vibrant style and chic design that will set users apart from the crowd. The official launch for the OPPO F21 Pro is set to take place on April 11, 2022.

 

Lahore (Muhammad Yasir) Mashreq Bank, one of the leading financial institutions in the United Arab Emirates, has appointed Alexander Raiff as its new Group Head of Technology, Transformation and Information, starting on 1^st April 2022.

Alexander is a seasoned technology professional with over 30 years of experience; noteworthy is his role as Chief Information Officer in Abu Dhabi Commercial Bank from 2012 to 2020. More recently, he has been an Advisor & Angel Investor for Digital Banking, FinTech/RegTech & Crypto Asset Platforms. Alexander was also associated with Daimler Financial Services and Mercedes Benz from 2003 to 2012 as CIO across their Offices in Europe, China and Japan.

Speaking about the appointment, Ahmed Abdelaal, Group CEO, Mashreq, said: “Alexander joins Mashreq at a crucial moment as we lead the evolution of digital finance and the wider digital economy through the innovation and deployment of truly transformational platforms and solutions. I am delighted to be able to bring a senior leader of such caliber to this critical role, and I very much look forward to working with Alexander as we harness tomorrow’s technologies to shape the future of finance.”

Alexander Raiff, Group Head of Technology, Transformation and Information, Mashreq said: “It is a great honor to join Mashreq and to be given the opportunity to meet the demands of the new transformed economy post COVID, to help shape a new kind of financial services and develop a strategy for collaboration across Mashreq, its many stakeholders – and the wider digital ecosystem. This is an incredibly exciting time for Mashreq and me as a professional, and I look forward to joining the Mashreq team as we realize the manifold opportunities inherent within the digital economy.”

Karachi (Muhammad Yasir) Meta is collaborating with the National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan (SBP) to train and up-skill Pakistani women entrepreneurs in order to foster sustainability and resilience of women-led businesses in the country.

The program is being implemented under the ‘Business Resilience through Financial Education (BRFE)’ component of Meta’s flagship women empowerment program ‘SheMeansBusiness’. SheMeansBusiness was introduced in Pakistan in May 2020 in partnership with the SBP and USAID to bolster financial inclusion and resiliency of women-led businesses, particularly during the Covid-19 induced economic slowdown.

Under the arrangement, Meta, in collaboration with National Institute of Banking & Finance (NIBAF), will be hosting a series of online training sessions to up-skill 3,000 women entrepreneurs who are part of NIBAF’s National Financial Literacy Program for Youth (NFLP-Y). The primary aim of the program is to strengthen women’s business financial understanding and help them grow their businesses for enhancing their socioeconomic standing and role in the society. NFLP-Y program focuses on managing personal finances and has a wide reach within Pakistan.

“Financial empowerment is one of the key drivers of women empowerment. NIBAF is excited to collaborate with META to strengthen the financial literacy and digital skills of Pakistani women. We hope that this partnership will help our women craft their own entrepreneurship journeys”, says Riaz Nazarali Chunara, Managing Director NIBAF.

“We are excited to collaborate with NIBAF to foster financial education and training for Pakistan women entrepreneurs”, Beth Ann Lim, Director, APAC Policy Programs and Government Outreach  – Meta said. “Financial education is crucial for sustainability and resilience of small and medium enterprises, especially when combined with digital skills. Over the last 2 years we’ve found that entrepreneurs that have adopted digital tools have been more resilient, financial education would further enable them to adapt and grow their businesses. I hope this arrangement goes on to make a significant difference for women led businesses in the country.”

The Meta-NIBAF partnership aims to build on the two organizations’ shared experience in upskilling and enabling up and coming entrepreneurs for improved business prospects. While Meta has been leveraging its social media platforms and digital expertise for human development and economic recovery post Covid-19, NIBAF also boasts extensive capabilities and expertise in designing, and delivering a range of training programs, workshops, and seminars in subjects relevant to economics, banking, finance, and management for capacity building of commercial bankers, micro and rural finance providers, management professionals and entrepreneurs in the country. Its National Financial Literacy Program for Youth (NFLP-Y) educates the Pakistani youth and school-going children on money management skills.