Fatima Fertilizer and JazzCash Sign MOU to Pioneer Digitalization of Agri-Sector Payment Ecosystem
Fatima Fertilizer, a leading name in Pakistan’s agriculture sector, and JazzCash, Pakistan’s largest digital wallet, have signed a Memorandum of Understanding (MOU) to revolutionize the agri-sector payment ecosystem. This collaboration aims to drive financial inclusion and economic empowerment for farmers, who are predominantly unbanked, enabling them to actively participate in the formal economy.
The partnership between Fatima Fertilizer and JazzCash will facilitate secure, fast, and reliable transactions, making financial processes more efficient for farmers. It will also enable our Sarsabz Pakistan Farmer App for digital payments. Furthermore, by leveraging Fatima Fertilizer’s extensive dealer network, this initiative will provide farmers with a seamless and accessible platform to manage their finances, receive payments, and conduct transactions.
By integrating with JazzCash’s digital payment solutions, the initiative will empower farmers to access financial services that were previously out of reach. This will bridge the gap between the unbanked farming community and the formal banking sector.
With the ability to receive and manage payments digitally, farmers will have better control over their finances, leading to enhanced economic stability and growth. This empowerment will enable them to invest in better farming practices and improve their livelihoods.
The collaboration will ensure that transactions are carried out swiftly and securely. The digital platform will reduce the need for cash handling, minimizing risks and increasing transparency in financial dealings.
Utilizing JazzCash’s robust digital payment system, the initiative guarantees the security and reliability of transactions, fostering trust among farmers and stakeholders in the agri-sector.
Speaking at the MOU signing ceremony, Rabel Sadozai, Director Marketing and Sales of Fatima Fertilizer, said, “This partnership with JazzCash is a significant step towards transforming the agricultural payment ecosystem. Our farmers are the backbone of the economy, and by providing them with digital financial tools, we are not only enhancing their financial inclusion but also contributing to the overall economic growth of the country.”
This MOU marks the beginning of a transformative journey for Pakistan’s agricultural sector, setting a precedent for other industries to follow. By pioneering the digitalization of the payment ecosystem, Fatima Fertilizer and JazzCash are paving the way for a more inclusive, efficient, and prosperous future for farmers across the nation.
Present at the ceremony from JazzCash were the CEO, Murtaza Ali; COO, Sohail Jan; and other heads of departments. From Fatima Fertilizer, attendees included Director of Marketing and Sales, Rabel Sadozai; Head of Planning, Usman Arshad Mian; and Digital Project Leads, Hessan Amin and Abdullah Khalid.
Sarsabz Royals wins prestigious ANA B2B Award in USA for best customer experience!
Fatima Fertilizer’s pioneering loyalty program, Sarsabz Royals, has garnered remarkable success at the prestigious Association of National Advertisers (ANA) B2 Awards. This year, Sarsabz Royals was honored with a silver accolade for Best Customer Experience at the ANA B2B Awards Gala in Naples, Florida, USA.
The silver B2B Award for Customer Experience was awarded to Sarsabz Royals for its extremely successful five-year journey in the fertilizer industry, recognizing the partnership with Fatima Fertilizer’s business associates. This pioneering initiative has set Fatima Fertilizer apart with first-of-its-kind point-based dealer loyalty program, aiming to create, cultivate, and foster stronger relationships with business associates.
This achievement strengthens Fatima Fertilizer’s belief that when dedication, creativity, and vision come together, they create a lasting impact that transcends traditional marketing boundaries. ANA is the advertising industry’s renowned and largest trade association in USA, with over 600 companies and 25,000 brands internationally, annually celebrating the most impactful and innovative B2B marketing campaigns across diverse industries.
Speaking about this triumph at the ANA B2B Awards, Rabel Sadozai, Director Sales and Marketing Fatima Fertilizer, said, “We are incredibly proud of our achievements at the ANA B2B Awards. This accolade is a testament to our innovative marketing approaches and commitment to excellence. Our aim is to continuously push the boundaries and set new standards in the trade marketing landscape, especially within the agricultural sector. We dedicate this award to our esteemed business associates, whose loyalty towards the brand has made this win possible.”
Food items: Additional tax to increase pressure on masses: Mian Zahid
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain said that imposition of additional tax on food items would increase pressure on the masses who are already reeling under the burden of inflation.
Such moves will exuberant food security issues shrink the documented economy and promote the undocumented economy.
Mian Zahid Hussain said that the decision to impose tax on food items should be withdrawn as it will further affect food security and push millions below the poverty line. He said there is a need to bring tax-paying sectors into the tax net for enhanced recoveries. Individuals should be netted through digital transactions instead of FIRs.
Mian Zahid Hussain said that the majority of the population in Pakistan is already deprived of necessary nutrients. Due to the 18% general sales tax from July 1, consumers must pay an extra Rs50 per litre of packaged milk, draining hundreds of rupees from their monthly pockets. He added that this would also reduce the documented dairy industry’s volume, affecting livestock business, public employment, and government revenue.
The business leader said that Pakistan is one of the important countries in milk production, but despite this, 40% of children are short, 29% are underweight, and 18% are weak due to want of proper nutrients which their parents could not afford.
Mian Zahid Hussain also demanded that the government remove 10% GST from newsprint. He said the media industry is already facing a difficult situation, so the tax proposal should be withdrawn.
Mian Zahid said that according to FBR, the number of tax filers has increased by 1.5 million this year, which is commendable. The FBR has traced an alleged tax fraud of Rs756 billion in the form of flying invoices and claimed to have arrested 70 to 80 people.
According to tax officials, the steel sector is a major source of fake invoices, costing the national exchequer Rs60 to 70 billion annually. He said that 6,000 vacancies in the FBR need to be filled to boost collection.
However, he said that before the appointments, a guarantee should be taken from the higher authorities that they will take practical steps on a professional and digital basis to document the sectors outside the tax net, and the policy of squeezing the taxpayers will be abandoned.
FrieslandCampina Institute Launches as a Trusted Platform for Healthcare Professionals– Aims to Revolutionize Nutrition and Health Education in Pakistan
The FrieslandCampina Institute was officially launched in Pakistan by Kashan Hasan, Managing Director of FrieslandCampina Engro Pakistan Limited (FCEPL). The marks a significant milestone in advancing healthcare professionals’ education and nutritional awareness across the region. The Institute in Pakistan aims to equip local healthcare professionals with essential tools and knowledge, particularly about the nutritional value of dairy, enabling them to improve health outcomes across communities.
Kashan Hasan, Managing Director of FrieslandCampina Engro Pakistan, highlighted the Institute’s commitment: “The FrieslandCampina Institute maintains high standards of quality and credibility, ensuring that the information provided is reliable and useful.”
He also emphasized: “While we ensure that the institute is a credible and trusted science-based engagement platform for healthcare professionals, we also ensure that it is 100% independent without being influenced from brands.”
During the launch, the FrieslandCampina Institute formalized its commitment to Pakistan’s healthcare sector through the signing of MoUs with the Pakistan Medical Association (PMA) and the Pakistan Nutrition and Dietetic Society (PNDS). These agreements underscore a shared goal of improving health outcomes and expanding the reach of nutritional education across Pakistan. The collaborations will facilitate a broad range of initiatives aimed at equipping healthcare professionals with the latest in nutritional science and practical health strategies.
The launch event highlighted the importance of collaborative efforts to enhance the healthcare and nutritional awareness in Pakistan. The FrieslandCampina Institute is poised to become a cornerstone for healthcare professionals seeking to expand their knowledge and improve health outcomes across communities.
Taxing the public to solve economic issues won’t work: Mian Zahid Hussain
Chairman of FPCCI Policy Advisory Board and National Business Group Pakistan, President of Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance and former provincial minister Mian Zahid Hussain on Wednesday said that the budget proposals presented by FPCCI and Senate deserve serious consideration.
All the recommendations made by FPCCI are concrete and actionable, aiming to reduce the burden on the commoner and avoid adverse effects on production and exports, he said.
Talking to the business community, the veteran business leader said that the budget has unnecessarily burdened the salaried class, association of persons and SMEs.
The government says that an additional 75 billion rupees will be collected from them in taxes, while economists believe that this collection will be more than 100 billion rupees, he added.
People are being squeezed while some other sectors are taxed mildly or not, which is a clear violation of the principles of justice.
Mian Zahid Hussain said that the government has also imposed taxes on many sectors, which will directly affect the people, and the problem of food security will become serious.
The business leader said that the Senate has sent 128 recommendations to the National Assembly, including reducing the tax burden on the salaried class, in which a 50% reduction in indirect taxes and an increase in direct taxes are the most important. Still, there is a clear lack of political will in this regard.
It is the government’s responsibility to prioritise the weaker sections and the people’s interests, which should be addressed. Solving the economic problems by breaking the back of the masses will not work, but it will increase the difficulties, so relief should be given in the proposed taxes.
Mian Zahid Hussain lauded the Federal Minister of Finance, Senator Muhammad Aurangzeb’s announcement to reduce pension expenses, advance structural reforms, and bring simplicity and reduce government expenses.
The finance minister has also announced that there will be a tax exemption on certain essential items, including stationary, packed milk, hybrid electric vehicles, and charitable hospitals which is commendable, he added.
The decision to keep the exporters’ local supply for the export facility scheme at zero and to take action against the vendors not part of the FBR’s merchant scheme is also correct.
The decision to give non-filers a chance to have a personal hearing before blocking their SIMS and banning them from travelling abroad is also correct. Similarly, he said, exporters should be maintained in fixed tax, he demanded. Mian Zahid Hussain further said that the decline of big industries has stopped, and the process of their rehabilitation has started, but the pace is very slow. In this regard, the government needs to take measures to improve things.
PTCL & Huawei Conduct First Symmetric 50G-PON Trial to Pioneer Next Generation Fiber Optic Broadband in Pakistan
Pakistan Telecommunication Company Limited (PTCL), country’s largest telecom and ICT services provider, proudly announces Pakistan’s inaugural trial of Symmetric 50G-PON technology, marking a significant stride towards ushering in next-generation fiber-optic broadband services in the country. This achievement is the culmination of PTCL’s strategic collaboration with Huawei, a global leader in information and communication technology.
Symmetric 50G-PON can provide 50 Gbps connectivity in downstream as well as upstream transmission simultaneously. Symmetric 50G-PON provides an edge over the Asymmetric 50 G-PON which supports 50 Gbps in downstream transmission only. PTCL also inaugurated Asymmetric 50G-PON for the very first time in Pakistan at the beginning of the year.
50 GPON is recognized by ITU-T as the next frontier in Passive Optical Network-based broadband technology, which is poised to revolutionize Pakistan’s digital landscape. With substantially enhanced capabilities surpassing those of existing GPON and XG(S)-GPON technologies, 50G-PON delivers an impressive 50 Gbps per PON port. This advancement holds the promise of reshaping future demands across industries, enterprises, businesses, campuses, and residential settings, unlocking the boundless potential for bandwidth-intensive and low-latency next-generation services.
Key applications and services enabled by this technology include innovations like Holographic Technologies, integration of XR-based Metaverses in both domestic and professional domains, Smart Manufacturing leveraging 3D Machine Vision, Remote Surgery and Medical Clinics, and High-Performance Gaming, amongst others. Additionally, it serves as a valuable asset for business and enterprise services, effectively catering to Smart Campuses, Video Production Studios, Edge Data Centers, Cloud-Centric SMEs, and Small Offices/Home Offices (SoHos).
A notable feature of 50G-PON technology is its seamless coexistence with GPON and XG(S)-PON over the same physical and passive optical network infrastructure. This capability shall empower PTCL to offer significantly enhanced broadband speeds to its customers through on-demand service upgrade requests.
Group Chief Technology and Information Officer (GCTIO) at PTCL & Ufone 4G, Jafar Khalid expressed his enthusiasm for this milestone, stating, “PTCL has achieved yet another remarkable milestone with the successful trial of 50G-PON Symmetric technology in Pakistan. This initiative represents a significant stride towards the future evolution of fiber broadband connectivity in Pakistan, and signifies PTCL’s sustained commitment to enhance connectivity, and digital lifestyles of its customers.”
As PTCL continues to spearhead innovation in Pakistan’s telecommunications sector, the successful trial and future commercial deployment of Symmetric 50G-PON technology underscore PTCL’s unwavering commitment to delivering cutting-edge solutions that will propel Pakistan into a digitally advanced era.
Budget measures are in line with IMF guidelines: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Saturday that some conditions of the IMF have yet to be fulfilled in the recent budget.
In contrast, most of the budget proposals are is in accordance with the instructions of the IMF, he said.
He said that honouring commitments with the IMF will help Pakistan secure new loans to keep the country afloat.
Mian Zahid Hussain said allocating 1400 billion rupees for developmental projects in these difficult circumstances is a miracle.
Talking to the business community, the veteran business leader said that electricity could be made cheaper by Rs10 per unit for the industrial sector by a 200 billion rupees cut in development projects.
The affordable electricity will increase exports by five billion dollars and also increase employment and provide relief to people, but it seems difficult at this juncture.
The business leader said that last year, 950 billion rupees were earmarked for development projects, of which only 379 billion rupees could be spent till May.
The budget is too focused on indirect taxes, which will increase poverty while reducing government expenditure should be addressed.
There has yet to be a concrete plan to eliminate the losses of 1200 billion rupees per year from the power sector. Besides, the privatization of 80 government institutions, which incur losses of 1200 billion rupees annually, must be done immediately.
In both terms, 2400 billion rupees can be saved annually, which makes it possible to save seven and a half billion dollars in government expenses.
He said that in the total budget of 18 thousand billion rupees, a deficit of 9 thousand billion rupees has been shown, which half of the total budget is. This deficit will be covered by taking more loans from various sources.
Nine thousand billion rupees interest will have to be paid on government loans this year and 10 thousand billion rupees next year. To avoid this situation, there is no alternative but privatization and an increased tax base.
Mian Zahid Hussain said that the industries of former Fata, Pata and other parts of the country are being given incentives of more than 200 billion rupees. At the same time, there are several incentives in addition to this, violating the promises made to the IMF.
In these circumstances, if there is no increase in exports, remittances and tax base, new mini-budgets will have to be brought, increasing the pressure on the people.
Mian Zahid Hussain said that big infrastructure projects can bring improvement for the economy and the people, so these projects should be completed immediately so that the country’s economic condition can improve.
He said that despite the huge increase in inflation, it is excessive to increase the tax on the income of the salaried class and that increasing the price of medicines, medical equipment, poultry feed, tractors, mobile phones, stationery, newsprint, cement, pasteurized milk and other items will increase inflation.
He warned that increased powers given to FBR are tax fraud cases and 0-year sentence risks being misused to discourage investment.
Cement despatches declined by 12.58% during June 2024
Cement despatches declined by 12.58% in June 2024. Total Cement despatches during June 2024 were 3.552 million tons against 4.063 Million Tons despatched during the same month of last fiscal year.
According to the data released by All Pakistan Cement Manufacturers Association, local cement despatches by the industry during the month of June 2024 were 3.079 million tons compared to 3.487 million tons in June 2023, showing a decline of 11.69%. Exports despatches also declined by 17.95% as the volumes reduced from 576,309 tons in June 2023 to 472,865 tons in June 2024.
In June 2024, North based cement mills despatched 2.723 million tons cement showing a decline of 7.71% against 2.950 million tons despatches in June 2023. South based mills despatched 829,582 tons cement during June 2024 that was 25.47% less compared to the despatches of 1.113 million tons during June 2023.
North based cement mills despatched 2.614 million tons cement in domestic markets in June 2024 showing a decline of 8.45% against 2.855 million tons despatches in June 2023. South based mills despatched 465,578 tons cement in local markets during June 2024 that was 26.34% less compared to the despatches of 632,093 during June 2023.
Exports from North based mills increased by 14.19% as the quantities increased from 95,333 tons in June 2023 to 108,861 tons in June 2024. Exports from South reduced by 24.32% to 364,004 tons in June 2024 from 480,976 tons during same month last year.
During the fiscal year ended 30th June, 2024, total cement despatches (domestic and exports) were 45.291 million tons that is 1.60% more than 44.579 million tons despatched during last fiscal year. Domestic despatches in this period were 38.181 million tons against 40.013 million tons during last year showing a reduction of 4.58%. Export despatches showed massive increase by 55.71% as the volumes jumped to 7.110 million tons during the fiscal year ended 30th June, 2024 compared to 4.566 million tons exports done during last fiscal year.
North based Mills despatched 31.545 million tons cement domestically during the fiscal year ended 30th June, 2024 showing a reduction of 3.76% than cement despatches of 32.776 million tons during July-June 2023. Exports from North increased by 36.23% percent to 1.457 million tons during July-June 2024 compared with 1.069 million tons exported during the same period last year. Total despatches by North based Mills reduced by 2.49% to 33.002 million tons during fiscal year ended 30th June, 2024 from 33.846 million tons during last fiscal year.
Domestic despatches by South based Mills during July-June 2024 were 6.636 million tons showing reduction of 8.30% over 7.237 million tons cement despatched during the same period of last fiscal year. Exports from South massively increased by 61.67% to 5.652 million tons during July-June 2024 compared with 3.496 million tons exported during the same period last year. Total despatches by South based Mills increased by 14.49% to 12.289 million tons during fiscal year ended 30th June, 2024 from 10.734 million tons during last fiscal year.
A spokesperson for the All Pakistan Cement Manufacturers Association emphasized that domestic market is pivotal for cement industry and decline in its uptake during the fiscal year ended 30th June, 2024 calls for serious attention from policy makers. He said that the situation calls for lowering duties and taxes on cement, but on the contrary, the government has increased excise duty from Rs. 2000/- per ton to Rs. 4,000/- per ton in budget 2024~25 that is likely to dampen the demand further. Cement is not a luxury item but is a basic necessity and government must take measures to reduce the construction cost, to make it affordable for the masses, he further added.