LCCI EC MEMBER CRITICISES GOVERNMENT

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Lahore (Muhammad Yasir) Lahore Chamber of Commerce & Industry (LCCI) Executive Committee member and Senior Executive Guard Group Momin Ali Malik has severely criticised the government for repeatedly increasing the fuel and electricity prices and withdrawing sales tax exemption on various inputs being used especially in the agricultural sector.

In a statement issued here on Friday, Momin Ali Malik said that time and again increase in the prices of petroleum products and electricity is making our industry incompetitive not only in the domestic market against the imported items but also rendering our export oriented industries incompetitive in the international market. He said that it has become impossible for the industries and businesses to make some long term planning as they do not know when the prices of fuel or electricity increase making their financial feasibilities impracticable.

Similarly, he said that agriculture which is our backbone and main supplier of raw material for our export oriented sectors is in dire stress due to non availability of quality seeds especially in cotton sector. It is unfortunate that the government has slapped sales tax on import of quality seed of different crops. It may be worth mentioning that imported hybrid seed of rice and corn is a success story. He said the government has also slapped the sales tax even on those companies which are involved in research & development of hybrid seed locally.

This will discourage the development activities in the country depriving us from producing indigenous seeds and give a free hand to those importing hybrid seed as they will pass it on to the end consumers.

Momin Malik suggested that the government should sit across the table with all the leading chambers and associations to draft some policy measures for easing the situation for businesses and earning enough for development and prosperity of the country and the nation.

Skolkovo Foundation and the Special Technology Zones Authority (STZA) of Pakistan have signed a Letter

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Lahore (Nut Desk) The Skolkovo Foundation and STZA Sign Letter of Intent to Cooperate on Civilian Technology Sector The historic visit of the Prime Minister of Pakistan, H.E. Mr. Imran Khan, to the Russian Federation, has paved the way for both nations to undertake cooperation in many areas including technology. Skolkovo Foundation and the Special Technology Zones Authority (STZA) of Pakistan have signed a Letter of Intent (LOI) to boost cooperation in the technology sector, establish closer business relations and foster strategic cooperation and exchanges between the Russian and Pakistani scientific and technological institutions and enterprises.

The LOI was signed between Mr. Igor Drozdov, Chairman of the Board, Skolkovo Foundation and Mr. Amer Ahmed Hashmi, Chairman, Special Technology Zones Authority and was witnessed by the Prime Minister. The Skolkovo Foundation is a non-commercial organization, founded in Moscow, in 2010. The goal of the Foundation is to support technological entrepreneurship in Russia and to commercialize the results of scientific research activities.

The number of Skolkovo residents already exceeds 3,200 and the Foundation provides them with an array of services that are necessary to roll out developments into international markets. Located at Skolkovo Innovation Center is the Skolkovo Institute of Science and Technology (Skoltech), which is listed in the Nature Index “Top-100 Young Universities” list. The Skolkovo – STZA collaboration is the latest addition to STZA’s portfolio of strategic partnerships, intended to collaborate on opening new doors for the leading Russian technology companies and organizations seeking to operate in Pakistan’s Special Technology Zones. STZA was enacted in 2021 with a national mandate of creating technological ecosystems across the country and offers access to wide-ranging fiscal and forex incentives, regulatory support, highly trained human capital, and soft landing through its one window framework to support the growth of enterprises in the zones.

The Skolkovo Foundation and STZA intend to cooperate in developing centers of innovation as well as research and development institutions which will facilitate the national development strategy 2024 and 2030 of the Russian Federation and will help Pakistan in achieving its goal of becoming a technology leader in the region, especially in the areas of circular economy, low carbon development projects, clean energy, and digital transformation. It will also aid in establishing linkages among academic institutions, promote online and offline technology activities and practical exchanges in all sectors of technology.

Zong Organized its Annual Business Conference 2022 Themed ‘Let’s Get Digital’

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Lahore (Muhammad Yasir) Pakistan’s cellular and digital services frontrunner, Zong 4G, held its Annual Business Conference 2022 digitally that was attended by over 250 employees from across the organization. Themed, ‘Let’s Get Digital’, which is also Zong’s new brand tagline, the event saw company management highlighting annual achievements and milestones for the year 2021. Zong’s commitment to Digital Pakistan was reiterated at the event, and its several initiatives to bring the country at par with the global digital race were highlighted, with employees being enthused about their contributions.

More in more, the company’s employees’ consistent and tireless contributions towards making the comp any the go-to provider of connectivity and high-end digital services was also brought to light and applauded by the top management. Spotlight on the company’s goals for 2022 – and a wider vision for the future – was also shared at the event with employees showing their excitement over the company’s ambitions. The management also shared how Zong is leading Pakistan’s digital transformation from the front, and how it will continue to boost its efforts towards realizing the vision of Digital Pakistan.

Zong Chairman & CEO, Wang Hua, also shared the company’s long-term key strategic direction with the employees, along with Zong’s growth and development strategies for 2022. “I congratulate all Zong employees for making 2021 a year of many successes,” shared Wang Hua at the occasion. “We achieved many milestones and set new industry benchmarks which we owe to our valued employees and customers.” He added “Each member of the team has contributed their best to make Zong the preferred Pakistani connectivity and digital services provider, and make Digital Pakistan a reality.” He also highlighted Zong’s CSR contributions and stressed its focus on adding value to Pakistani society. “Zong believes that through digital and intelligent transformation, we can help Pakistan transform digitally and enable every citizen,” he added. Keeping employee health a top priority since March 2020, Zong adopted the work-from-home model and successfully transformed the company for the new business model. Since the pandemic, this is the second time that Zong has held its Annual Business Conference digitally.

Infinix Launches ZERO 5G Featuring 6nm 5G Master Processor and Uni-Curve design

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Lahore (Muhammad Yasir) Infinix today launched its first premier 5G smartphone, ZERO 5G, delivering the benefits of 5G – such as higher speeds, seamless connection, faster downloads and greater coverage more accessible than ever before. The smartphone is integrated with a 6nm MediaTek’s Dimensity 900 master processor for high-performance gaming, a uni-curve design for a sleek look and feel, a 48MP AI Triple camera with 30x ultra-zoom for crisp close-ups of distant objects, a 6.78” FHD+ ultra-smooth display with 120Hz Refresh Rate and 240Hz Touch Sample Rate for lower latency and immediate responsiveness and a 5000mAh with 33W quick charge technology to power users through their entire day.

“Infinix is setting a strong course in today’s fast-growing marketplace and providing innovative, yet high-performance 5G technology that is more attainable to users through the new ZERO 5G smartphone,” stated Charles Ding, Deputy Product Director of Infinix Mobility. “Our innovation gives users a smartphone with better performance from a slimmer and stylish design that includes every key technology feature they are looking for in a 5G device that offers the most bang for its buck within its price range.” 

Accelerate Your Day

Infinix is improving the user experience with 5G technology with super fast connectivity that better supports bandwidth-heavy apps such as gaming and video streaming. With the growing number of people using their smartphones for mobile gaming and streaming, 5G connectivity has become a crucial feature for smartphone devices. The Infinix ZERO 5G is equipped with a powerful 6nm MediaTek Dimensity 900 5G chipset bringing a full-domain and full-speed 5G network experience. Its Clever 5G Mode automatically switches between link4G and 5G according to the user’s bandwidth, which can significantly improve download and gaming speed and reduce power consumption.

MediaTek’s Dimensity 900 5G chipset is built on a 6nm high-performance manufacturing node and integrated with a 5G New Radio (NR) sub-6GHz modem with carrier aggregation. The chipset is equipped with an octa-core central processing unit (CPU) consisting of two Arm Cortex-A78 processors with a clock speed of up to 2.4GHz and six Arm Cortex-A55 cores operating at up to 2GHz that deliver exceptional performance for snappier app responses, faster frames per second (FPS) for gaming and better connected experiences. With the chipset’s Arm Mali-G68 MC4 graphics processing unit (GPU) and an independent artificial intelligence (AI) processing unit (APU), power-efficiency is optimized to extend battery life even further for mobile gamers.

The ZERO 5G smartphone provides even faster and more reliable connectivity for gamers with Wi-Fi 6 and 2×2 MIMO technology that offers about 1.2Gbps connectivity speeds. Infinix takes the ZERO 5G’s connectivity solutions even further with Dual 5G SIM technology, which enables the smartphone to connect to two separate 5G SIMs, intelligently switching to the fastest network and enabling seamless internet access from both connections as needed, powering users day’s like never before on an Infinix device.

 Stunning Design Language

Smartphone design is heavily driven by the desire for bigger screens and more minimal yet functional features without losing the key technologies – such as camera quality, memory capacity and battery life.

The ZERO 5G comes with a large 6.78” FHD+ ultra-smooth display with 120Hz refresh rate and 240Hz touch sampling rate, giving users a smooth experience and a quicker response to touch input when browsing webpages, consuming online media and playing action-packed games. The smartphone showcases a Uni-Curve design with a softly curved back using a composite material that mimics the look and feel of glass, creating a device that is more comfortable to hold, yet premium to the touch allowing users to express their sense of style with their device. The rear contour drop camera design is integrated into the curve of the device, creating an ergonomic design that is palm friendly and a move away from traditional camera modules’ harsher right-angle positioning.

The unique design of the ZERO 5G incorporates subtle textures and colors that reflect the serenity of natural sceneries with three bold colors including: Cosmic Black to represent distant galaxies, Skylight Orange to represent the bright and energizing sun and Horizon Blue to represent the mesmerizing sky.

 Capture Every Moment

The ZERO 5G features a crisp 48MP main camera with 30x ultra-zoom comprising of a 13MP portrait camera and 2MP virtual camera. The 30X 48MP zoom camera allows users to capture stunningly high-quality from a great distance. Users can also capture moments that the human eye cannot normally see, with the 960 frames per second (fps) slow motion capabilities for stunning video captures.

On the front of the ZERO 5G, the 16MP Dual Flash Light and enhanced artificial intelligence (AI) shooting technology bring out the best in you in all angles and lighting conditions so your selfies and video calls are on point every single time.

Other key features of Infinix’s ZERO 5G Series include:

 

  • A 5000mAh battery and 33W quick charge: The 5000 mAh battery supports all-day usage and can be quickly charged with TÜV Rheinland safe fast-charge technology enabling the smartphone to last through 9.4 hours of gaming, 27 days on standby, 22 hours of calling and 152 hours of music playback (testing data provided by Infinix lab).
  • Universal Flash Storage UFS 3.1 and LPDDR5: The LPDDR5 brings a new height of speed for ZERO 5G smartphone, which substantially improves memory performance, and further reduces power consumption. As an added boost, the UFS 3.1-based storage doubles sequential read performance and increases download speeds.
  • Infinix’s Dar-Link 2.0: The software improves the image stability and the sensitivity of touch control that is based on an AI algorithm, while simultaneously bringing down the temperature of the device to provide a fully immersive gaming experience.
  • XArena:Enhances your gaming experience by integrating game applications into a single zone and thus game booster is enabled for the game. There are quick settings that allow you to focus on your game by blocking messages and incoming calls without worrying about any other distractions.
  • Heat Pipe Thermal Module 2.0: This feature systematically monitors the temperature of the ZERO 5G smartphone so users can immerse themselves in the long-lasting gameplay without worrying about overheating.
  • Android XOS 10: The ZERO 5G’s XOS 10 software offers an upgraded interface, AI voice assistant, smart assistant, phone cloner 2.0 and doc correction. For enhanced security, it also comes with X-proof, which secures the screen from behind, and privacy tracker, so users can keep their information private and control when it is shared, as the data is never uploaded to the cloud.

Availability and Pricing

The ZERO 5G will be available for pre-orders soon in the price tag of Rs. 49,999 with a free gift of Infinix XE20 on Xpark. Stay tuned to Infinix official pages and social channels for further updates.

For more details visit: https://www.infinixmobility.com/pk/

Meezan Bank disburses Rs. 1 billion under Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme

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Meezan Bank disburses Rs. 1 billion under Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme (PMKJ-YES) to facilitate the Youth of Pakistan in setting up new or growing established businesses

Karachi (Muhammad Yasir) Meezan Bank, Pakistan’s leading Islamic bank, also became the first and only Islamic bank to disburse Rs. 1 billion under Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme (PMKJ-YES) for Small and Medium Enterprises (SMEs)

Mr. Usman Dar, Special Assistant to the Prime Minister on Youth Affairs and Mr. Haleem Adil Sheikh, Member of the Provincial Assembly of Sindh graced the ceremony hosted by Mr. Irfan Siddiqui, Founding President & CEO – Meezan Bank and Mr. Ariful Islam, Deputy CEO – Meezan Bank at the Bank’s Head Office located in Karachi. The event was also attended by the PMKJ-YES teams and senior management of the Bank.

PMKJ – YES will allow access to Islamic finance to those SMEs who, despite being credit-worthy, are unable to avail financing due to various documentary and collateral related issues. Under this scheme, Meezan Bank will extend Shariah-compliant financing facilities of up to PKR 25 million to eligible customers at subsidized rates.

Mr. Irfan Siddiqui reiterated that Meezan Bank, following its Vision of establishing ‘Islamic banking as banking of first choice…’ stands committed to the Government of Pakistan and State Bank of Pakistan in playing a key role in the success of Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme and other schemes to promote financial inclusion, by providing Shariah-compliant financing products and solutions.

 

NBP has reached agreements

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Lahore (Muhammad Yasir)  National Bank of Pakistan has reached agreements with The Federal Reserve Board and Federal Reserve Bank of New York and the New York State Department of Financial Services, the US regulators of NBP’s New York branch. The agreements include fines totaling US $55.4 million focused on historical compliance program weaknesses and delays in making compliance-related enhancements.  There were no findings of improper transactions or willful misconduct. 

The New York branch has been under new management since May 2020 and has substantially enhanced its Compliance Program.  U.S. regulators have recognized the many positive changes resulting from new management.  The National Bank of Pakistan and the New York branch are fully committed to satisfying the regulators’ expectations.

Egyptian Government Delegation Visits Central Business District Punjab.

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Lahore (Muhammad Yasir) For building new business friendly ties, the Egyptian Government Delegation visited CBD Punjab’s project site . CEO Lahore Central Business District Development Authority (LCBDDA) Mr. Imran Amin, COO Brigadier (RTD) Mansoor Janjua, LCBDDA Board Members and directorate heads of LCBDDA welcomed the delegates. Delegation was given a detailed visit of CBD Punjab sites and were briefed about the ongoing and future projects.

Delegation was led by General Ahmed Hamed, accompanied by Dr. Hany Shaheen and First Secretary of Egyptian Embassy, Mr. Amr Essayed Nassredin Elsayed Mr. Imran Amin CEO (LCBDDA) while visiting the site area, briefed the delegation that CBD Punjab had already auctioned 5 mixed use commercial plots for Lahore Prime, has successfully generated an investment of Rs 24 billion PKR and now, the authority is preparing for auction of Lahore’s first planned Downtown. This Downtown comprises of 7 mixed commercial plots.

Lahore Downtown is themed on existing downtown in the first world countries. General Ahmed Hamed said that ‘’business districts like CBD Punjab are door openers to new opportunities that can be materialized for the betterment of any state. Our visit to CBD Punjab has wiped out all the myths of economic instability”.

Mr. Imran Amin – CEO (LCBDDA) while expressing his views on Egyptian Delegation visit said “Visits of foreign delegations are a blatant proof that CBD Punjab has made a positive impact on economic map. People want to know more about CBD Punjab and its project. We are not only a business hub, we are a beacon, designed for the well-being of our future generations.

Every step which is taken by CBD Punjab whether it is urban development, building better business relations with other countries, economic development and job creations, it is directly linked to welfare of Pakistan’’. Egyptian delegation briefly discussed ideas and opportunities to build better economic relations between both countries. Delegation was also given a brief presentation about Pak-Egypt Business Corporation at CBD Punjab’s office.

Sheikh Mansour Bin Zayed Al Nahyan launches e& as a new brand identity for Etisalat Group

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Abu Dhabi (Nut Desk) His Highness Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister of the United Arab Emirates and Minister of Presidential Affairs, today launched e&, marking the transformation ambitions of Etisalat Group into a global technology and investment conglomerate.

Commenting on the launch, HH Sheikh Mansour emphasised the importance of capitalising on opportunities that the fast-evolving business landscape continues to present in the age of technological disruption. He commended the efforts of e& in devising a more progressive business model that sustains its hypserscaling ambitions, promotes new ventures and partnerships, and maximises value across its operations.

His Highness said, “The transformation of e& from a telecom company founded more than four decades ago in the UAE into a global influence in digitalisation highlights its role in upholding the UAE’s sustainable economic development and diversification plans. We commend e& for being the national champion that steers its global digitalisation leadership through pioneering advanced technologies, advancing ICT infrastructures, and fuelling geographic expansions while unlocking value.”

The launch of the new brand identity for Etisalat Group was attended by His Excellency Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, H.E. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs and H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&.

Experts stress national consensus to ensure food security, better environment

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Islamabad (Muhammad Yasir) While expressing concerns over the rising threat to food security and environment degradation coupled with malnutrition in Pakistan, experts at a seminar have emphasized the need for practical measures to ensure capacity building as well as better agriculture by using smart use of technology.

The one-day seminar was organized by the Awaz CDS Pakistan, Pakistan Development Alliance, Quaid-e-Azam University, VSO Pakistan and UKAid at the Quaid-e-Azam University`with a focus to highlight the environmental impacts as well as threat to food security and propose sustainable suggestions.

Convener SDG 13 at SDG Secretariat MNA Naureen Farooq Ibrahim, Chief Executive Awaz CDS Pakistan Zia ur Rehman, Dean Faculty of Biological Sciences, QAU, Safia Ahmed, and Chairman Environmental Sciences, QAU, Dr. Sohail Yousaf; Prof Institute of Food and Nutritional Sciences, ARID University Dr. Asif Ahmed, addressed the seminar. Country Director Hashoo Foundation, Ayesha Khan; and Country Director Sightsavers Pakistan, Munazza Gillani, were also among the panellists.

In his remarks, Zia ur Rehman said that the climate change is a constant threat to life, agriculture and sustainability in Pakistan where over 65 per cent population is dependent on agriculture. “Food security is the major challenge that needs to be overcome by finding out sustainable solutions,” he said.

He mentioned that after the 18th amendment, agriculture sector was delegated to provinces 12 year ago, but unfortunately they have not yet built their capacity to draft a sustainable strategy on climate change as the devolution has not resulted in implementation of relevant policies. Attached departments are not well equipped in addition to having no technological knowhow, he remarked. He mentioned that like the federal government the provinces should formulate their own food security policies to ensure better food security.

He urged the decision makers, parliamentarians, environment experts and nutritionists to develop national consensus over controlling negative impacts of climate change and adopt technology-based agriculture for better output.

Earlier, in his welcome address, Dr. Sohail Yousaf highlighted the purpose and focus of the seminar. He also gave an overview of the issues on climate change and food security.

QAU Vice Chancellor Prof. Dr. Muhammad Ali, in his address, appreciated the efforts of the stakeholders for organizing the workshop. He said that in Pakistan about 40 sectors are attached directly or indirectly with agriculture which can significantly provide jobs.

He mentioned that migration from rural areas to urban areas is a rising threat to environment. “If we adopt technology-based solutions to create employment opportunities in rural areas, migration to cities can be controlled significantly and that would ultimately help in improving environment,” he remarked.

He also called for capacity building of rural population on efficient use of water, green energy solutions, provision of smart agriculture tools as well as fertilizers and modern agriculture farming.

Addressing the audience, MNA Naureen Farooq acknowledged that environment and food security are the issues in the country. However, she stressed the need for having more relevant laws to ensure smart technology based agriculture and better environment.

During the seminar, Chief Executive Awaz CDS Pakistan Zia ur Rehman, presented a charter of demands for parliamentarians as well as decision makers to incorporate them in national policies so that sustainable food security and environmental improvement is ensured.

Later, a question-answer session was held during which the audience raised various questions covering the focused areas.

At the conclusion, certificates were given to the participants of the event.

Euro Oil will supply PETRONAS Syntium to Shahnawaz for Mercedes cars in Pakistan

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Lahore (Muhammad Yasir) Euro Oil Pvt. Ltd. and Shahnawaz Pvt. Ltd. have signed a lubricant supply agreement. The Chief Operating Officer of Euro Oil, Mr. Sohail Ahmad and the Director & General Manager of Shahnawaz, Mr. Naseem Shaikh signed this agreement. This ceremony was witnessed by Mr. Burak Isildak, Market Manager – Turkey & Middle East of PETRONAS Lubricants, Mr. Majid Maqbool, General Manager Lubricants Euro Oil and Mr. Taqi Mohammad, Director Technical Shahnawaz.

According to this agreement, Euro Oil will supply PETRONAS Syntium to Shahnawaz for Mercedes cars in Pakistan. PETRONAS Syntium is specially formulated with Cool Tech Technology that helps defend against excessive engine heat, keeping engines performing optimally for a trouble-free drive.

Euro Oil Pvt. Ltd. (Exclusive Marketer of PETRONAS Lubricants International) and Shahnawaz Pvt. Ltd.  (Authorized General Distributor of Mercedes-Benz Passenger Cars and Commercial Vehicles in Pakistan) have agreed to collaborate for the supply of PETRONAS Lubricants to Mercedes Benz Service Centres across Pakistan.