Category Business

Lahore (Muhammad Yasir)

The Pakistan Solar Association (PSA) commemorated a year filled with significant milestones during its Annual General Meeting held on September 30, 2023, at the PSA headquarters in Lahore. The meeting was a testament to PSA’s dedication to addressing key issues related to net metering and its unwavering stance against the imposition of the GST on solar products. These accomplishments underscore PSA’s steadfast commitment to the advancement of the solar energy industry in Pakistan.

Chaired by Mr. Amir Chaudry, Chairman of PSA, the meeting centered around the pivotal role of solar energy in Pakistan’s progress and the urgent necessity to cultivate a clean and green energy ethos throughout the nation.

Mr. Amir Chaudry shared the association’s visionary goals, stating, “Our vision is to transform Pakistan into a hub of clean and green energy. The solar energy sector not only holds the potential to mitigate energy shortages but also to generate employment opportunities and significantly contribute to the nation’s economic development. By fostering collaboration within our industry, we can expedite the adoption of solar energy solutions and pave the way for a sustainable, resilient, and prosperous Pakistan.”

Attendees at the meeting unanimously recognized the profound significance of solar energy in Pakistan’s energy landscape. They emphasized how harnessing solar power could serve as a transformative solution to mitigate Pakistan’s energy challenges while concurrently mitigating environmental impacts.

During the meeting, PSA members pledged to forge stronger bonds within the solar energy sector. Their collaborative endeavors will encompass policy advocacy, research and development initiatives, and capacity-building programs aimed at ensuring the sustainable growth of the industry.

The Annual General Meeting of PSA concluded with a resolute commitment from all members to work closely with government entities, private sector stakeholders, and civil society to promote the adoption of solar energy and renewable energy technologies and practices throughout Pakistan.

The Pakistan Solar Association (PSA) is a leading organization dedicated to advancing the adoption of solar energy and sustainable practices in Pakistan. PSA is committed to promoting solar energy as a viable and environmentally friendly solution to Pakistan’s energy needs while supporting the growth of the solar energy industry. The association actively engages in advocacy, research, and capacity-building initiatives to create a brighter and more sustainable energy future for Pakistan.

Pakistan (Muhammad Yasir)

Xiaomi today revealed its latest Xiaomi 13T Series smartphones termed as “Masterpiece in Sight”, designed and engineered for customers worldwide who are ready to unleash their visual artistry. Equipped with advanced performance optimization architecture lasting battery life, and a crystal-clear display, the Xiaomi 13T Series ensures outstanding smartphone experiences whether shooting photos, watching videos, or in daily usage. Both Xiaomi 13T Pro and Xiaomi 13T offer a triple camera setup featuring Summicron lenses co-engineered with Leica, including a 50MP wide-angle camera with 24mm equivalent focal length and a 7P aspherical lens designed to capture more light supporting high dynamic range shooting. Additionally, it offers 100% DCI-P3 coverage³ with support for 68 billion colors, providing end-to-end HDR10+ compatibility. Both Xiaomi 13T Pro and Xiaomi 13T feature wide-ranging power efficiency enhancements and lasting battery life, enabling users to enjoy a faster and more efficient smartphone experience.

Xiaomi 13T is equipped with a MediaTek Dimensity 8200-Ultra, built for superb power efficiency using the latest TSMC 4nm process enabling improvements in CPU and GPU performance.

Xiaomi 13T Pro is powered by a MediaTek Dimensity 9200+ chipset with a fast Octa-core CPU, delivering speeds of up to 3.35GHz. It also has a built-in Arm Immortalis-G715 GPU that improves image processing, making gaming experiences smooth and free from worries about battery life.

Market Availability

Xiaomi 13T is now available online at Mistore, Corecart, Daraz, and Xiaomi sale. It will also be available nationwide in all retail outlets. 13T Pro will be available soon.

Our Distributors are Tech Sirat, Airlink Communications, Smartlink Technologies, Core Tech, Phonezo Impex, Burque.

Xiaomi 13T has 1 variant available.

Variant 12 GB + 256 GB. Price is 169,999

Xiaomi 13T Pro also has 1 variant available.

Variant 12 GB+ 512 GB. Price is 234,999

Device Specifications

Pakistan (Muhammad Yasir)

A big opportunity for Pakistan resides in ushering its micro, small and medium enterprises (MSMEs) into the digital age, as revealed in a new report by the United Nations-based Better Than Cash Alliance, in support of its member, the Government of Pakistan, and the State Bank of Pakistan.

The fates of small businesses and national economies are intertwined. If one thrives, so does the other. Pakistan’s MSMEs account for 90% of enterprise in the country and nearly half of GDP. Their growth remains perpetually hamstrung by a dependence on cash. This tether to cash means that transactions – and horizons – are inevitably limited.

The adoption of responsible digital payments for merchants, with their proven ability to boost women’s economic participation and deliver the UN’s Sustainable Development Goals, represents a tremendous pocket of potential growth. Digital payments can be a pathway to solve some of the major economic challenges the country faces.

Digitizing responsibly boosts financial inclusion and future-proofs enterprises, ensures equitable access to formal financial services, improves workflows, reduces operational costs and mitigates against mobility constraints, especially for women entrepreneurs. Designing digital payments, based on female customer needs, represents a market opportunity of over USD $ 650 million nationally.

“We commend the State Bank of Pakistan for its bold leadership in driving responsible payment digitization for merchants, especially women merchants. Across Asia, digitizing merchant payments has led to rapid MSME growth and, as businesses grow, so do economies. We agree – now is the time to accelerate financial equality for women merchants in Pakistan, and look forward to our continued partnership.” said Dr. Ruth Goodwin-Groen, Managing Director of the UN-based Better Than Cash Alliance. 

The report indicates that the national adoption of digital payments by 2025 in Pakistan can boost GDP by 7 percent, generate four million jobs and realize an additional USD 263 billion in deposits, as defined by the National Payments System Strategy.

The report also advises active engagement by all key public and private sector actors to work towards building trust in digital payments, make them affordable for MSMEs, incentivize adoption through measures like lower sales rate tax, alongside other key recommendations.

Pakistan (Muhammad Yasir)

Carrefour, owned and operated by Majid Al Futtaim in Pakistan, celebrates 14 years of excellence in serving the Pakistani community. The ongoing anniversary discount offers will remain available until October 25th, and they are a tribute to the trust and loyalty of Carrefour’s valued customers, who have been an integral part of this remarkable growth journey. Carrefour is offering unbeatable discounts, emphasising its commitment to ensuring affordability and unparalleled customer satisfaction.

The anniversary festivities began with a special cake cutting ceremony, signifying the joyous occasion. Adding to the celebratory spirit of the event, the chief guest for the ceremony was the renowned cricketer, Shahid Afridi, who also launched his drink brand, exclusively available at Carrefour stores.

Umer Lodhi, the Country Manager of Carrefour Pakistan at Majid Al Futtaim Retail, stated, “Our 14 years in Pakistan have been a journey of tremendous growth and customer satisfaction. We have converted millions of shoppers into loyal customers by consistently creating exceptional shopping experiences. Carrefour is now synonymous with providing unmatched value for money and variety to customers in Pakistan, and we are committed to continuing this legacy through our anniversary campaign.”

Shahid Afridi expressed his delight in being a part of Carrefour’s anniversary celebrations, stating, “It’s truly an honour to be here on this special occasion, celebrating 14 years of Carrefour in Pakistan. Carrefour continues to stand strong, offering immense discounts and maintaining top-notch quality products for its customers.”

Since its establishment in 2009, Carrefour has proudly served millions of Pakistani customers annually. The brand presently operates 11 stores, which are strategically located in major cities such as Karachi, Lahore, Islamabad, Faisalabad, and Gujranwala. With a substantial investment of approximately 12 billion rupees, Carrefour is dedicated to expanding its retail presence to more cities across Pakistan. Notably, Carrefour has played a vital role in supporting the local economy by sourcing 99 per cent of its products from over 700 local suppliers, contributing significantly to human capital development by creating thousands of direct and indirect jobs.

In addition to the delightful in-store shopping experience, Carrefour offers the convenience of a delivery service through the MAF Carrefour (Pakistan) app. Customers can also enjoy instant discounts, earn, and redeem points using the MyCLUB loyalty programme.

For a wide range of products available in stores, visit https://www.carrefour.pk/mafpak/en/.

Karachi (Muhammad Yasir)

BankIslami, Pakistan’s leading Islamic financial institution, has appointed Mr. Rizwan Ata as its new President & CEO.

Mr. Rizwan Ata has bought with him a wealth of experience and a profound understanding of the Islamic banking industry to his new role. Having been associated with BankIslami for the past five years in the capacity of Group Head Distribution. Mr. Rizwan Ata has played a pivotal role in driving the bank’s exceptional growth and success during this period. Moreover, he also held the position of Deputy CEO before taking the charge as the President & CEO of BankIslami.

Before joining BankIslami, Mr. Rizwan Ata held various leadership positions in both local and international banks. He served as the Group Head of Islamic Banking at Bank Alfalah, the Group Chief of Islamic Banking at Allied Bank, and held leadership roles at Meezan Bank as the Group Head of Branch Network and SME. His extensive experience also includes leadership roles at Emirates Bank International.

Mr. Rizwan Ata’s impressive professional journey is complemented by a strong academic background. He holds a Master’s Degree from the Lahore University of Management Sciences (LUMS) and possesses leadership and management certifications from renowned institutions such as INSEAD and the University of London.

Commenting on his appointment, Mr. Rizwan Ata stated, “I am deeply honored and excited to lead BankIslami in this new chapter. I am committed to building upon the strong foundation laid by my predecessor, Mr. Syed Amir Ali, and working collaboratively with our talented team to further strengthen our position as a leader in Islamic banking in Pakistan. Together, we will continue to deliver innovative and Shariah-compliant financial solutions to our valued customers.”

BankIslami is honored to have a professional management team, underpinned by the unwavering support of its strong sponsors in the form of the JS Group. JS Group is one of the biggest groups in Pakistan with stakes in almost all sectors including Banking, Insurance, Energy, Education, Technology, Food, and Social Welfare. BankIslami remains committed to continuing its upward trajectory, serving its customers with excellence, and contributing to the growth and development of Islamic banking in Pakistan.

As BankIslami embarks on this new chapter under the leadership of Mr. Rizwan Ata, it is confident that the bank will not only sustain its momentum but also thrive further, thanks to the dedication and expertise of its talented employees.

Completion Of Retaining Piles For Ghora Howk And Progress On Multiple Key Projects Of CBD Punjab Discussed.

Lahore (Muhammad Yasir)

Punjab Central Business District Development Authority also known as Central Business District Punjab (CBD Punjab), is making significant strides in its ongoing projects under the dynamic leadership of CEO Imran Amin. A progress review meeting was chaired by CEO CBD Punjab Imran Amin to closely examine the progress of the Ghora Chowk Flyover, Executive Director Technical CBD Punjab, Riaz Hussain, provided a comprehensive briefing on the ongoing progress of the project The meeting was attended by the Director Business Development CBD Punjab, Ali Waqar Shah, Director Marketing CBD Punjab, Waseem Siddiq, Director Architecture CBD Punjab, Sameer Aftab, Director Construction CBD Punjab, .Asif Babar, along with officials from Nespak and NLC. CEO CBD Punjab, Imran Amin, stressed the importance of adhering to the vision and directives of Chief Minister Punjab Mohsin Raza Naqvi to ensure the timely completion of the project. While addressing the meeting Imran Amin said, “We are fully committed to completing the project in the stipulated time. This project is pivotal for the prosperity of the region, and will improve overall mobility in the area.” During the meeting, the technical team reported that all 33 retaining piles for the Ghora Chowk Flyover are completed and the boundary wall is also near completion. They also highlighted the round-the-clock work at the Ghora Chowk site, with three rig machines in operation. Additionally, the pile load test for the Ghora Chowk Flyover is also completed.

CEO CBD Punjab Imran Amin was also given a brief update about other projects of the authority including the upgradation of Walton Road, the construction of a road connecting CBD Punjab Boulevard, CBD Quaid District, and Walton Road, the construction of an overhead crossing bridge at Walton railway crossing, the infrastructure development of CBD Punjab and the construction of the parking plaza at CBD Punjab project site.

Lahore (Muhammad Yasir)

Governor Punjab, Muhammad Baligh Ur Rehman, paid a visit to the Jazz Digital Park, Pakistan’s largest Tier 3 certified data center, in Islamabad. During the visit, he highlighted the vast potential for growth in Pakistan’s IT sector besides the immense need for digitalization of the country’s education sector.

The Governor highlighted the significance of the IT industry, noting that expertise in IT and technology is essential for national development. He commended the skills and talents of Pakistani youth in various fields and underscored the necessity of equipping them with modern IT skills to capitalize on global opportunities.

Expressing his appreciation for Jazz’s Digital Data Park, the Governor said that the facility offers advanced IT facilities for freelancers, firms, and public and private institutions. He lauded Jazz’s proposal for an efficient learning management system (LMS) for the public universities in Punjab, pledging full support for addressing today’s need for digitization and technological advancement in the education sector, alongside saving costs for the government.

Jazz’s proposed solution for the digitalization of education offers a three-fold approach, involving GSM, Cloud (Garaj), and smartphones, an example of which is already live in The Islamia University of Bahawalpur, setting a precedent for all other Public Universities in Punjab.

Speaking on the occasion, Asif Aziz, Chief Business Officer at Jazz, said that the state-of-the-art cloud infrastructure of Garaj would serve as the backbone for this project. The LMS powered by Jazz aims to simplify educational processes and improve engagement between teachers and students by offering functionalities like creating and managing resources, alongside tracking student progress, and fostering peer-to-peer learning.

Asif added that Jazz is pioneering this initiative to digitally transform education in Pakistan while retaining a significant $1 billion cloud revenue within the country besides ensuring data sovereignty. By establishing local data centers and cloud services, we can break free from international platforms like Amazon, Google, and Cloud, he stressed.

Jazz’s Digital Park is the largest Tier 3 certified data center in Pakistan. Recognizing the importance of secure data storage for businesses of all sizes, the Digital Park offers state-of-the-art facilities, 24-hour backup, scalability options, and convenient pay-as-you-grow payment plans.

Governor Punjab Baligh Ur Rehman expressed his excitement at visiting the Jazz Digital Park, acknowledging the strides made by Jazz in Pakistan’s IT sector. He lauded the transformative potential of Jazz’s Digital Park in bolstering Pakistan’s IT landscape.

He urged IT service providers to extend their services to students, universities, and educational institutions at affordable rates, fulfilling their social responsibility and furthering the growth of the IT sector.

Pakistan (Muhammad Yasir) 

AAA Associates Announces Strategic Partnership with Valor Hospitality Partners GCC.In a strategic move that underscores its commitment to enhancing the hospitality landscape in Pakistan, AAA Associates has entered into a significant partnership with Valor Hospitality Partners. The collaboration was cemented with the signing of a Hotel Management Agreement (HMA) for a luxurious 5-Star Hotel and Residences situated in the mixed-use development, AAA Octa 2, Karachi. The pivotal signing ceremony took place in Abu Dhabi, graced by the presence of H.E. Faisal Niaz Tirmizi, Ambassador of Pakistan to the UAE, Mr. Afaq Ahmed, Deputy Head of Mission. Mr Muhammad Omer Munj was representing AAA Associates and Julien Bergue, the co-founder and Managing Partner of Valour Hospitality Middle East was also presented at the event.

The state-of-the-art property, designed to offer a unique blend of luxury and comfort, will feature 114 opulent rooms and suites, extensive banqueting spaces, an all-day diner, a bar, private dining, a comprehensive wellness and fitness center, and much more. Furthermore, the development will house 314 modern, branded, and serviced residential units.

Both Chairman AAA Associates Sheikh Fawad Bashir and MD AAA Associates Lt. Col. Shahzad Ali Kiani (r) expressed their excitement about this venture. “Partnering with a globally recognized entity like Valor Hospitality Partners aligns perfectly with our vision for this landmark project. As we embark on this journey, we are confident in Valor’s capability to bring unmatched hospitality expertise to the table,” stated Chairman AAA Associates Sheikh Fawad Bashir.

Highlighting Karachi’s significance, MD AAA Associates Lt. Col. Shahzad Ali Kiani (r) remarked, “Karachi, being Pakistan’s economic nerve center, is poised for an infrastructural evolution. This project promises to be a landmark addition to the city’s vibrant business ecosystem and its skyline.”

Julien Bergue, Co-founder and Managing Partner, Valor Hospitality Middle East, commented on the venture’s potential. “Having established our first foothold in Lahore, we’re eager to further our reach in Pakistan. Teaming up with AAA Associates for this illustrious project in Karachi underscores our commitment to delivering unparalleled hospitality experiences in the region.”

This collaboration, bringing together AAA Associates’ local insights and Valor Hospitality Partner’s global expertise, is expected to create a synergetic impact, further enhancing the value proposition for both entities. With both companies’ shared vision and ethos, this partnership promises to reshape the hospitality landscape, setting new benchmarks in luxury and service excellence.

The Bank of Punjab (BOP) launches Merchant Acquiring Business with the industry first buy now pay later (BNPL) and pay by link solution.

Lahore (Muhammad Yasir)

The Bank of Punjab (BOP), recognized as one of the nation’s premier commercial banks, has embarked on a pioneering journey by unveiling its cutting-edge Point of Sale (POS) payment solutions and online payment gateway services. BOP is the 7th Bank offering this service out of the total of 41 commercial and specialized banks in the country. This strategic move reinforces BOP’s commitment to enriching its digital retail offerings and expediting the evolution of the nation’s digital ecosystem. In pursuit of this ambitious endeavor, the Bank of Punjab (BOP) has forged a strategic alliance with PayNet Private Limited, a wholly-owned subsidiary of Omega IT Solutions United Arab Emirates renowned for its expertise in Digital Payment business solutions. This collaboration signifies a pivotal milestone in BOP’s mission to introduce Point-of-Sale (POS) payment services to the market, with plans to expand its reach through additional Independent Sales Organizations (ISOs) for comprehensive nationwide coverage.

The Bank will act as a link between merchants, issuers and payment networks by offering them state-of-the-art POS machines and make cashless transactions available over the counters, enabling retailers to benefit from the adoption of digital payments. The POS machines support acceptance of all types of cards. To commemorate this momentous occasion, a ceremony was held at a prominent local hotel in Lahore. The event served as a platform to recognize the invaluable contributions of key individuals who played pivotal roles in this project. Dignitaries present at the ceremony included Mr. Zafar Masud, President & CEO of BOP, and other esteemed members of the senior management team. Speaking on this occasion, Mr. Zafar Masud remarked, “The Bank of Punjab is diligently spearheading the modernization of retail services within the country by enhancing our digital offerings and promoting economic documentation.

We are already committed to providing top-notch services to SMEs, corporate entities, and government sectors. With the launch of our Merchant Acquiring business, we aim to fortify these strategic partnerships, empowering BOP to deliver innovative and industry-leading payment solutions to customers nationwide.” As the Bank of Punjab embraces the future with its Merchant Acquiring Business, it underscores its dedication to fostering a digitally advanced and financially inclusive landscape in Pakistan.

The bank’s unwavering commitment to excellence and innovation promises a brighter and more accessible future for all.