News Update Times

Karachi (Muhammad Yasir) Meezan Bank, Pakistan’s first and largest Islamic bank, also became the first bank to launch the Islamic SME Asaan Finance Scheme (I-SAAF) for Small and Medium Enterprises (SMEs) under State Bank of Pakistan’s (SBP) SME Asaan Finance Scheme (SAAF). The launch ceremony was held at Multan Chamber of Commerce and was attended by Dr. Reza Baqir – Governor, SBP, other senior officials of SBP, Mr. Ariful Islam – Deputy CEO, Meezan Bank, Mr. Khawaja Muhammad Hussain – President Multan Chamber of Commerce – and members of the business community.

Under the Scheme, Meezan Bank will extend Shariah-compliant short-term and long-term facilities of up to PKR 10 million to eligible customers, at a subsidized rate of 9 percent per annum. The Scheme was introduced by SBP, and eight participating banks were selected through a transparent bidding process. Meezan Bank was one of the successful bidders, with a sizeable share in the overall program, and the only Islamic bank offering its Shariah-compliant alternate, in-line with its Vision of establishing ‘Islamic banking as banking of first choice…’  I-SAAF will allow access to finance to SMEs that despite being credit-worthy are unable to avail financing due to collateral or other requirements. 

While distributing cheques to I-SAAF customers, Mr. Ariful Islam – Deputy CEO, Meezan Bank reaffirmed the bank’s commitment to invest in human resource and technology to ensure success of the Scheme and enable a swift and hassle-free application process for its customers. Mr. Ariful Islam also presented a memento to Dr. Reza Baqir for gracing the event with his presence.

Lahore (Muhammad Yasir) Pakistani telecom company, Ufone has introduced economical roaming data gift facility for Ufone users in United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA). Going forward, Ufone customers will be able to share data buckets with their friends and family visiting UAE or Saudi Arabia to help them stay connected back home at all times.

The initiative is in consistence with Ufone’s long term commitment of facilitating their customers at all times, now beyond geographical barriers. Customers wishing to share data gift buckets with their loved ones will need to dial *5061*Ufone number of their loved ones# from their handsets anytime anywhere from Pakistan.  This service can also be accessible during using Ufone roaming from any other country.

Ufone customers can gift 1000 MB Data bucket in UAE and Saudi Arabia at the rate of 282.82+tax at a flat rate for both prepaid and postpaid users. Ufone customers visiting these countries can access WhatsApp video and audio calls and all social apps to stay connected with their family and friends back home. To further facilitate the users, the company offers the same charges and mechanics for Postpay and Prepaid buckets. For further inquiry, users can visit the official Ufone website www.ufone.com or visit the closest Ufone franchise, PTCL & Ufone Joint shops or nearest service center.

Ufone has been responding to the evolving needs of its customers by introducing innovative products and solutions in its data and voice services. It strives to innovate and modernize its products and services portfolio to bring the best user experience to its customers as is evident from its long-cherished moto signaling its matchless customer-centricity; ‘Tum Hi Tou Ho!’

So, if you have a friend or a family member in UAE or Saudi Arabia, just dial *5061*033xxxx# and send them some love.

 

Lahore (Muhammad Yasir) Following the massive success of its latest series of smartphone handsets in Pakistan, Infinix is bringing the biggest, most exciting treat for its valued users ahead of New Year, with the announcement of exclusive discounts on its NOTE 11(4GB and 6GB) variants and a small upward change in the price of NOTE 11 Pro phones. The price has already updated online and in stores, where the NOTE 11 series are available on new prices. Below is a snapshot of the prices: Handset Model Original Price Discounted Price Infinix NOTE 11 4GB PKR 29,999 PKR 28,999 Infinix NOTE 11 6GB PKR 32,999 PKR 30,999 Infinix NOTE 11 Pro PKR 33,999 PKR 34,999 The NOTE 11 series have already garnered much praise since their introduction in the Pakistani market. Following are some excellent features these phones offer. Infinix NOTE 11 The Infinix NOTE 11 features a massive 6.7” AMOLED display with a 33Watt fast charging and 5000 mAh battery. NOTE 11 has an innovative boxy design which provides premium hand feel. It also has 50MP wide aperture camera for the best in class photography experience. Infinix NOTE 11 comes in two variants of 4GB and 6GB with the massive storage of 128GB. On the other hand it also has a MediaTek Helio G88 dual chip ultra game-play processor with monster game kit to enhance gaming experience. Infinix NOTE 11 Pro The Infinix NOTE 11 Pro has super-fast and ultra-smooth 120 Hz massive 6.95” FHD+ display. It is power packed with MediaTek Helio G96 processor for ultra-fast gaming experience and all round performance. NOTE 11 Pro comes with premium 64MP camera and 30X telescope zoom to take some classic shots especially in low light.

Lahore (NUT-DESK)

Following the signing of a Memorandum of Understanding between Pakistan Cricket Board (PCB) and Naya Nazimabad last week, Ramiz Raja, Chairman, PCB, visited Naya Nazimabad today to survey the Cricket Stadium where a drop-in pitch is to be installed.

This partnership is aligned to Chairman PCB’s vision of improving the quality of pitches across Pakistan and Arif Habib Group’s vision of contributing to the improvement of facilities and availability opportunities of opportunities to budding cricketers.

Ramiz Raja, Chairman, PCB, concluding his visit of the cricket stadium and Gymkhana observed, “I am amazed at the brilliance of the facilities available at Naya Nazimabad that will go such a long way in uplifting not just the game of Cricket but also other sports. We have decided to assign a technical team to Naya Nazimabad Cricket Stadium which will work very closely with the Management to upgrade the stadium making it ready to host exciting domestic and international. cricket games.’

Once the upgradation is complete, the PCB will host and organise domestic matches at the Naya Nazimabad Stadium including U19 and women’s matches while practice sessions and exhibition matches for the HBL Pakistan Super League franchises can also be staged at the stadium from the 2023 edition onwards.

Arif Habib, Chairman, Naya Nazimabad said, “With the ever-growing demand for cricket in the country and the improvement in the security situation, foreign cricketers are comfortable touring Pakistan, many of whom have already have visited Naya Nazimabad. We look forward to working with PCB to revive Pakistani’s cricket greatness, glimpses of which we have seen recently.”

************

Lahore (NUT-DESK)

Despite the efforts made by the government to promote locally produced mobile phones in Pakistan and curtail their imports, the inward shipments of handsets recorded a significant jump in November 2021. According to the Pakistan Bureau of Statistics (PBS), Pakistan imported mobile phones worth $212 million in November 2021, reflecting an increase of 28% on a year-on-year basis and 41.6% on a month-on-month basis.

Data revealed that the cumulative mobile phone imports during the first five months (July-November) of the current fiscal year 2021-22 reached $857 million against $724 million in the same period of last year, an increase of 18.3%.

Speaking to Media, Tecno Pack Electronics CEO Aamir Allawala pointed out that currently almost 70% of inward shipments of cellular phones had moved from completely built up (CBU) units to completely knocked down (CKD) and semi-knocked down (SKD) units.

Another 20% would move to SKD/CKD by January 2022, as renowned global smartphone companies were expected to kick-start production in Pakistan early next year, he said.

Guessing the reason behind the sharp increase in mobile phone imports, ICT expert Parvez Iftikhar said that Pakistanis could be buying and importing a higher number of smartphones these days because local manufacturers were mainly producing 2G phones.

An official of the Ministry of Commerce said that the spike in mobile phone imports came on the back of increase in orders for luxury phones, ie flagship models of renowned brands.

“Such phones are usually priced over $1,000 and Pakistan is manufacturing or assembling phones of mid or low price ranges,” he said. From January to October 2021, the production of mobile phones in Pakistan stood at a substantial 18.87 million units. During this period, imports of cellular phones came in at 9.45 million.

“The ‘Make in Pakistan’ policy is yielding excellent results and we look forward to sustainable growth in the long run,” Adviser to Prime Minister on Commerce Abdul Razak Dawood stated in a tweet last month.

SI Global CEO Noman Ahmed told that the surge in imports was witnessed due to several reasons, but the increase in mobile phone users was the most prominent factor. He elaborated that the import of SKD units increased approximately 87% in November while shipments of CBU units spiked 81%.

Another reason was that the local manufacturers were gearing up to reach 100% capacity and they might still be importing most of the equipment required to assemble mobile phones, he said.

The implementation of Device Identification, Registration and Blocking System (DIRBS) by the Pakistan Telecommunication Authority (PTA) is a massive paradigm shift aimed at curbing fraud and encouraging legal imports, said the SI Global CEO.

According to him, the measure is having a profound impact on the telecommunication ecosystem in Pakistan. Several initiatives have been taken by the Ministry of Information Technology and the Board of Investment to support the local industry.

“There is a wide gap in taxes applicable to locally manufactured and imported phones. Besides, announcement of 5% subsidy is also expected in the near future,” he added.

“The Special Technology Zones, being set up in Pakistan, will give an edge to the local mobile manufacturers.”

Due to these incentives, global smartphone giants are entering Pakistan and the country is expected to see locally assembled smartphones by the end of this month, he hoped.He detailed that cellular phone companies from China and rest of the world were establishing their facilities in Faisalabad.

“When these manufacturers will produce at full capacity in near future, they will gain a competitive edge,” he projected. “They will also open doors to new opportunities for Pakistan by exporting their merchandise.”

In addition, a modest number of jobs will be created and foreign direct investment (FDI) will surge.Furthermore, he noted that Mobile Device Manufacturing Authorisation had been granted to 19 companies.

************

 

Karachi (Muhammad Yasir) METRO, the leading international wholesale company, gave another reason for its employees in Pakistan, specifically the young mothers, to enjoy their work routine in a relax environment, with its Day Care center & Big Kids room initiative. The facility will look after the kids of working women, with peace of mind and easy access to their young kids, as and when required. The facility is equipped with latest attributes for child development and care.

The Day Care Center takes care of children up to 4-years-old, five times a week during the official working hours. The Big Kids room applies to children from 4 to 7 years. The facility is already in service at the METRO Pakistan Head Office and is being extended to its stores all over the country.

Sharing his thoughts, Ms. Zahra Hussain, HR Director METRO Pakistan, said, “The purpose of this initiative is to encourage gender diversity, representation, and career growth. All METRO Pakistan women were included in the launching of this programme and asked how it could facilitate their job performance. This programme is a powerful example of diversity & inclusion in action that inspires and motivates us to be a better community for all mothers and kids together.”

The employees, particularly the women, have appreciated the decision to facilitate them and shared that earlier, they had to leave the young children at home under the supervision of a babysitter, or family elders. They expressed that now their children would remain in front of their eyes in a safe environment which would help them focus on their work.