News Update Times

Lahore (Muhammad Yasir) Panther Tyres Limited successfully raised Rs. 2,632 million through a two-day book building which saw a broad based participation from institutional and high net worth investors. The book building was over-subscribed by 4.4 times with price closing at the Rs. 65.80 per share; an increase of 40% from the floor price of Rs. 47.0 per share. The total demand received was Rs. 8,215 million against total issue size of Rs. 1,880 million; oversubscribed by Rs. 6,335 million.

Arif Habib Limited is the Lead Manager & Book Runner for this IPO. Panther Tyres Limited, established in 1983, by Mian Iftikhar Ahmed, was the first player in Pakistan to introduce local manufacturing of tyres for two and three wheelers. Over the period of time, Panther has expanded into other segments of tyres and tubes including tractors, light commercial vehicles, trucks, buses and earth movers. The book building saw participation from 497 investors which included major commercial banks, insurance companies, local and foreign institutions, asset management companies, TREC holders and high net worth individuals.

The general public will be offered shares on 3rd and 4th February at a price of Rs. 65.80 per share.

Lahore (Muhammad Yasir) In a very encouraging development for the debt market of Pakistan, an innovative, new debt instrument has been issued and listed on Pakistan Stock Exchange (PSX) by Bank Alfalah (BAFL). Bank Alfalah has issued Medium Term Note in the form of Term Finance Certificates (Tranche Series-A) of PKR 11,000 million through Shelf Registration Program, which have been listed on the Exchange as of today, January 28, 2021. A Gong Ceremony was held at Pakistan Stock Exchange to mark the listing of the instrument. The gong was struck by the CEO of Bank Alfalah, Mr. Atif Bajwa, amidst the presence of the Members of the PSX Board, the MD & CEO of PSX, Mr. Farrukh H. Khan, and senior management of PSX, SECP and BAFL. Also present at the occasion were the senior management and representatives of Arif Habib Limited & Alfalah CLSA Securities, Joint Lead Managers & Arrangers to the Issue.

In his opening remarks, Mr. Farrukh Khan, the MD & CEO of PSX said, “It is indeed a very welcome and positive development for the debt market of Pakistan that Bank Alfalah has issued & listed its Tranche Series-A TFCs of Rs 11 Bn on the Exchange. Bank Alfalah has always been innovative whereby for the first time a shelf prospectus against issuance of Rs 50 Bn TFCs has been approved. Bank Alfalah has presence in both the brokerage and asset management industries and has recently become the first Market Maker of debt securities as well. I am very pleased that they are making their mark yet again on PSX through this innovative debt instrument, which will help provide depth and dynamism to the debt sector of the capital market of Pakistan”.

On this occasion, the CEO of Bank Alfalah, Mr. Atif Bajwa, stated, “Bank Alfalah would like to thank SECP and PSX for their continued efforts in promoting the capital markets of Pakistan. Our debt capital markets are still at a nascent stage and we appreciate the efforts of all the stakeholders to develop this market based on global best practices. Sharing the same vision, we at Bank Alfalah believe that an efficient and well developed debt market will open up additional avenues for corporates and investors for sources of funding and investments respectively”.

Speaking on the occasion, Mr. Arif Habib, Chairman – Arif Habib Group, stated, “I congratulate Bank Alfalah on the successful issuance of their Medium Term Note. I also congratulate the SECP and Pakistan Stock Exchange for successfully facilitating issuers. There was a time when we, as Consultants, would approach the SECP or the Stock Exchange for facilitation of a new issue but, since the last two years, we have not felt the need to make the first call for new issuances. The SECP and the Stock Exchange would already be standing with us to facilitate issuers on the equity and debt sectors of the capital market”.

Congratulating Bank Alfalah on the successful issuance of their new debt instrument, Mr. Sulaiman Mehdi, Chairman of the PSX Board, stated, “It is a proud moment for our capital market that the first tranche of Rs 11 Bn of the debt issue by Bank Alfalah has already been oversubscribed. Bank Alfalah was also the first bank to be the Market Maker in Pakistan. It surely reflects upon their commitment to Pakistan’s debt market and their innovative thinking”.  He further stated, “It is for the first time that we are seeing such close coordination between State Bank, SECP, PSX, and the entire financial industry; all are working towards reforms and development of the capital market. I congratulate not only Bank Alfalah, but also all the market participants and stakeholders who worked in tandem to bring about this innovative product on the debt market successfully”.

In his congratulatory note, Chairman, SECP, Mr. Aamir Khan, stated, “The launch of the first Medium Term Note Program has come about mostly due to the visionary leadership at Bank Alfalah but it is also heartening to see the combined efforts by all stakeholders in this regard. This issue is a very good omen for the future of debt capital market of Pakistan as recent changes in National Savings Schemes to restrict institutional investors have left the field wide open”. He further stated, “A well-developed corporate bond market is essential for the growth of the economy and currently the size of listed corporate debt market in Pakistan stands at less than 1% of GDP. It is in this backdrop, that Bank Alfalah’s MTN will encourage other market participants to tap the capital markets for their liquidity needs and foster competition in the market”.

In his remarks on the new debt issue by Bank Alfalah, Mr. Shauzab Ali, Commissioner SECP, stated, “While looking at the new debt instrument issued by Bank Alfalah and their record in developing the debt market, I am very happy to note that they have offered so much to the investors and have set high standards as role models for others to follow”.

Mr. Ali Sultan, Group Head – Global Treasury & Capital Markets at Bank Alfalah, added, “We have always strived for innovation and are proud that BAFL MTN is the first time in Pakistan that a shelf prospectus has been approved for issuance of TFCs. We are encouraged to continue with our efforts, given the strong response and oversubscription of the transaction which attracted a diverse investor base including Employee Funds, Foundations, Corporates and non-banking institutions”.

 

 

 

 

Lahore (Muhammad Yasir) Digitalisation efforts in every corner of societywill accelerate in the wake of Covid-19, predicts Telenor Research. From new technology to combat loneliness, to remote education that’s here to stay, compounded bypassword panic induced by rising security concerns- these are some of the trends that will shape 2021.

The Tech Trends 2021 were revealed and discussed during an interactive session at Telenor Pakistan Headquarters 345 by Bjørn Taale Sandberg, Head of Telenor Research. The occasion was graced by Honourable Federal Minister of IT and Telecommunications, Syed Amin ul Haque. The event was also attended by government officials, ecosystem players, members of the media and Telenor Pakistan management.

Speaking virtually at the session, Bjørn Taale Sandberg, Head of Telenor Research said, “The pandemic has triggered us and nearly every industry around the globe to adapt at a rate once thought impossible. The past year has proved that digitalisation will be key to tackling major societal issues and to facilitate new ways of working and living in 2021.”

The year 2020 will go down in history as not only one of the most challenging of the century, but also as one of the most transformative. Covid-19 has forced the global population to urgently adapt to a new way of life. A life lived much more digitally.

Speaking on the occasion Chief Guest, Federal Minister of IT and Telecommunications, Mr. Syed Amin ul Haque said, “In its position as an emerging economy adopting digitalisation, Pakistan has unique potential for growth in technology. Telenor’s Tech Trends serve as an important tool that provides the basis for the growth and development of a number of industries interlinked with the telecommunications sector. I’m excited to be a part of the transformation that is bound to take place in our economy.” The Honourable Minister said that, it’s a pleasure to see the Government’s goals of a ‘Digital Pakistan’ coming to life, and it’s the Ministry’s resolve to develop the digital and physical environment to meet the ever-changing technological needs of the future. Strengthening this resolve, we have recently achieved another milestone with the approval the “Right of Way” (ROW) Policy for the telecom sector to help them enhance the services provided to the citizens of Pakistan. “The new policy is a significant step in the right direction, removing hurdles faced by telecom and internet service providers in the installation and maintenance of their equipment and expansion of network across the country” Federal Minister for IT Syed Amin ul Haque added.

Telenor Research predicts that in 2021 we will see eHealth actors developing and rolling out new sets of tools and services related to mental health. The trends also reflect on how governments will use the momentum of 2020 to pave the way for a green recovery in 2021, putting climate laws and climate plans into action. 2021 will see more cyber security challenges and due to this, greater implementation of user-friendly security solutions is predicted for 2021. According to the 2021 Tech Trends, companies will ensure the necessary competence for the future way of work, managers will increase the upskilling of employees in cyber security, digital hygiene, and the use of digital tools and technologies. In 2021, Telenor Research expects to see an escalating number of new and creative methods of remote, digital learning to emerge from the rapidly advancing virtual learning sphere. However, there is an urgent need to properly address the educational gap in the coming years, with the education sector and ICT actors joining forces to promote and support digital literacy for all.

Closing the event, Irfan Wahab Khan, CEO Telenor Pakistan stated, “Since its inception, Telenor Pakistan has been firm in its commitment towards empowering societies and creating opportunities. With annual findings on the latest technology trends and research with use cases on how our society stands to be transformed, we are constantly innovating, bringing  value to our customers by  applying global learnings and best practices to promote financial inclusion, propel mAgri initiatives and embrace emerging technologies such as IoT and AI to deliver the most personalised, holistic experience”.

For the sixth consecutive year, Sandberg and the Telenor Research team have analysed and reflected on the year that passed. For a detailed insight on the five tech trends for 2021 visit: https://www.telenor.com/innovation/research/tech-trends-2021

Lahore (Muhammad Yasir) MOL Pakistan Oil and Gas Company B.V. and its Joint Venture Partners of TAL Block have undertaken and completed the repair and reconstruction of the Gurguri-Banda Daud Shah Road in Khyber Pakhtunkhwa. The newly inaugurated road has been rehabilitated at a cost of PKR 400 million provided by MOL Pakistan and its Joint Venture Partners of the TAL Block.

The Gurguri-Banda Daud Shah Road is a 40km long road that passes through various communities located in the TAL Block, connecting more than 40 villages and about four Union Councils between the two districts of Karak and Hangu in the province of Khyber Pakhtunkhwa. This road is also used as an alternate transit route to Afghanistan, and is significant to the development of local transit trade in the province.

Present at the inauguration were Chief Guest Mr. Mahmood Khan, Chief Minister of Khyber Pakhtunkhwa, Mr. Shahid Ahmad Khattak, MNA Karak, Mr. Kamran Khan Bangash, Provincial Minister of Higher Education, Archives, and Libraries, and Provincial Minister of Information and Press Releases, among other government officials.

At the occasion, Mr. Mahmood Khan lauded MOL Pakistan’s efforts to support the people of Khyber Pakhtunkhwa, and said, “The newly reconstructed road will not only ease travel time between our communities, but also increase local trade and economic activity in the area.” Mr. Mehmood Khan explained that the province, under the leadership of the Prime Minister, is fast becoming an attractive investment destination. He pointed out that the province’s abundant natural resources require further development by national and multination corporations to help generate economic activity in Pakistan.

Mr. Ali Murtaza Abbas, MOL Group Regional Vice President Middle East Africa and Pakistan, commented, “MOL Pakistan and our Joint Venture Partners in TAL Block  are thankful for the support and cooperation extended by the Government of Khyber Pakhtunkhwa to companies working in the province. In turn, we take this opportunity to reiterate our commitment to supporting projects that bring positive change to local communities and greater economic development to the province of Khyber Pakhtunkhwa and Pakistan as a nation.”

Citrus lovers can shop for their favorite citrus produce at unbeatable prices both in-store and online.

The festival is on until February 07, 2021.

By Junaid Javed

In previous few years, mobile providers worldwide have been proactive in changing the focus from primary voice providers to full knowledge providers to acomodate the speedy rise in Smartphone and social apps utilization.

In Pakistan too, smartphone users have caught up with the change. Capturing and importing footage and movies, watching movies and films on YouTube or streaming websites, taking part in video video games, and online shopping are a few of the issues that a common Pakistani mobile subscriber usually does every day.

OpenSignal – an impartial world customary for analyzing shopper Cellular expertise – just lately issued its Cellular Community Expertise Report for Q2, 2020, during which it examined the cellular community expertise of the 4 nationwide cellular community operators in Pakistan, particularly Jazz, Telenor, Ufone, and Zong.

The person expertise that Pakistani mobile operators ship to their customers was measured in seven key classes together with Video, Voice App, Obtain Pace, Add Pace, 4G Availability, 4G Protection, and, for the primary time in OpenSignal’s reporting, Gaming.

Right here’s how Pakistani telcos performed in all these classes as per the report.

Video Expertise

Out of a doable 100 factors on the Video Expertise chart, Zong scored the best 57.Three factors taking the lead within the class. Zong is followed by Jazz with a rating of 53 in the identical class. Telenor scored the least on the Video Expertise chart with a rating of 41.6 whereas Ufone ended up the second final on the record with 50.6 factors.

Gaming Expertise

In keeping with OpenSignal, that is the primary time it has assessed how cellular customers expertise real-time multiplayer cellular gaming on the operator-level in Pakistan. Ufone took the lead within the class with a rating of 35.7 on a scale of 100 factors. Jazz followed carefully with 34.6 factors followed by Zong at a video games expertise rating of 34.9. Telenor ended up final with 34.Four factors.

Voice App Expertise

On OpenSignal’s Voice App expertise chart, Ufone secured the best rating of 66.6 factors out of a doable 100. The telco was adopted carefully by Zong with 65.5 factors. Jazz scored 65.2 whereas Telenor ended up final right here too with 63.6 factors.

Obtain Pace Expertise

Zong received the primary place within the Obtain Pace expertise class with obtain speeds of 10.9 Mbps. Jazz got here in second with 10.Four factors. The opposite two telcos particularly Ufone and Telenor have been nowhere close to the highest two with their respective obtain speeds of 5.9 and three.eight Mbps.

Add Pace Expertise

Zong took the lead in Add Pace expertise too with add speeds of 4.5 Mbps per second. Jazz adopted considerably carefully with speeds of 4.2 Mbps. In add speeds too, Ufone and Telenor stood far behind the highest 2 with every delivering speeds of 1.7 Mbps at their greatest.

4G Availability Expertise

4G availability throughout Pakistan was additionally examined by OpenSignal in its community expertise report. Out of all telcos, Zong’s 4G community was discovered to be out there 86.6% of the time, the best within the class. Jazz’s 4G was out there for 81.5% of the time. 4G availability of Telenor and Ufone stood at 77.3% and 65.4% of the instances respectively.

4G Protection Expertise

On the 4G protection expertise charts too, Zong received the highest place with the best rating of 5.7 out of a doable 10 factors. Coming in second within the class are Jazz and Telenor with every one scoring 4.eight factors. Ufone secured a poor 4G protection expertise rating of two.1.

Abstract: Zong takes the lead in 5 out of seven classes

Whereas Ufone managed to attain the lead when it comes to Video games and Voice App experiences, Zong took the lead within the remaining 5 classes together with Video, Obtain Pace, Add Pace, 4G Availability, and 4G Protection experiences.

 

Lahore (Zahid Chughtai) Pakistan has received the Geographical Indicator (GI) tag for its Basmati on January 26, 2021. REAP made major contributions in preparing the Book of Specifications for Basmati. This Book of Specifications lays down the criteria of characteristics for Basmati which needs to be followed by any producer or operator in Pakistan if they desire to obtain the license to use this name. Since REAP is a trade body which has been involved in exporting Basmati to the world and it is representative of Pakistan’s exporters of Basmati, it was best suited to offer insight into Basmati’s trade, characteristics, regions and history. When REAP was consulted on the matter it provided technical and commercial assistance in preparing the Book of Specifications. REAP’s input was highly appreciated.

The registration of Basmati as a GI in Pakistan required the cooperation between the public and private sector. Trade and Development Authority of Pakistan (TDAP) was designated as a Registrant of Basmati by the Federal Government. TDAP made an application to register Basmati to Intellectual Property Organization (IPO). IPO sought assistance from Rice Research Institute Kala Shah Kaku and REAP. IPO mapped the regions where Basmati is grown by taking recommendations from all provinces. The process followed by IPO has been an inclusive one and it brought all the stakeholders on one table.

Through intra-provincial and public-private cooperation, Pakistan has obtained the GI tag for its Basmati which will strengthen the case against India in European Union. Since Basmati rice fetch higher prices than non-Basmati rice in international markets, India has attempted to block Pakistan’s trade in EU by declaring that its Basmati is the geographically original one. Pakistan has challenged this claim and by registering its own GI for Basmati it will claim the same protection of its Basmati in EU as India. REAP as a trade body has been representing and safeguarding the interests of rice exporters in Pakistan since 1994, we will continue to uphold the interests of all our members who together make Rice Exports Pakistan’s 2nd Largest Export Industry, after textiles.