Pakistan Cables opens new PVC compounding plant at Nooriabad factory
Pakistan Cables Limited successfully commissioned its new PVC Compounding Plant at its new factory located in Nooriabad, Sindh.
Mr. Fahd K. Chinoy, CEO Pakistan Cables, inaugurated the plant and was joined by the team. With the addition of the new PVC Compounding Plant, Pakistan Cables has significantly enhanced its capacity to cater to its own and external needs for PVC products.
First set up in 2007, the Company was the first in the industry to have its own PVC Compounding Plant at its factory located at SITE, Karachi. As part of setting up its new factory in Nooriabad, the Company remains focused on investing for higher efficiency, reliability, and diversification of operations through cutting edge technology.
According to Fahd K. Chinoy, “Through enhanced local production, Pakistan Cables has strengthened its position as a premier supplier for PVC compounds in diverse industries. As the first and premier wires and cables manufacturer in Pakistan, we strongly believe in the economic potential of Pakistan and therefore remain committed to invest and grow the local industry for a stronger economy. This is a milestone achievement for our new factory which is re-shaping the industry standards”.
DWP Technologies secures prestigious award for transformative storage project
DWP Technologies (Pvt.) Limited Solutions Business Unit, Pakistan’s leading technology experts and part of the DWP Group, has been honored with the prestigious Best Storage Award at the DELL Partner Awards 2024, hosted by Dell Technologies (Pvt.) Limited. This accolade celebrates DWP Technologies’ outstanding achievement in delivering the best project win for storage solutions.
The award-winning project was executed for a leading integrated utility company in Pakistan that manages the generation, transmission, and distribution of energy. The initiative involved the consolidation and technology refresh of the client’s existing storage infrastructure. This complex undertaking required expertise in handling multiple operating systems, diverse applications, and a dynamic virtualization environment.
DWP Technologies’ Solutions Business Unit rose to the challenge, demonstrating exceptional proficiency in deploying a sophisticated and reliable storage system for managing critical data. This achievement underscores the company’s commitment to delivering cutting-edge technology solutions and reinforcing its reputation as a leader in the technology sector.
While expressing his gratitude, Rohail Bashir, Chief Operating Officer, DWP Technologies, said, “This award is a testament to our dedication to excellence and innovation. We are deeply honored to receive the Best Storage Award from Dell Technologies and extend our sincere thanks to our valued client for trusting us with this transformative project. This milestone inspires us to continue delivering impactful solutions that address the evolving needs of our partners and clients.”
As DWP Technologies celebrates this remarkable milestone, the company remains steadfast in its mission to transform the technological landscape by delivering reliable, innovative, and future-proof solutions. With a focus on excellence, DWP Technologies is committed to driving meaningful advancements across industries and empowering organizations to achieve sustainable growth.
GTR urges customs valuation to include local manufacturers in policy discussions
Local tyre industry expressed its deep concern for not being consulted on recently issued ITP valuations VR-1958 & VR-1959 dated 17-1-2025.
As a local tyre producer and one of the major stakeholders in the industry, we wish to highlight that in light of the recent ITP valuation, we were unfortunately not consulted.
“This lack of consultation is concerning and undermines the contributions of local manufacturers,” stated Hussain Kuli Khan, Chief Executive Officer/MD of GTR, in a letter to Director General of Customs Valuation.
He mentioned that local tyre industry has a capability to fulfill the country’s tyre demand as we produce 80% of the sizes that are in demand, meeting the Original Equipment Manufacturers (OEM) strict quality requirement and supplying tyres to the replacement market.
“This contributes significantly to saving foreign exchange, creating employment, and increasing tax revenue for the government exchequer,” reasoned Hussain.
He added that as local tyre manufacturer our input is also vital in setting up ITP values and your good office [Customs Valuation] used to invite GTR along with different stakeholders.
“But unfortunately in the last two valuation meetings we were not contacted. We strongly urge you to take us in confidence and ensure that our feedback is also taken into account during such meetings,” said Hussain.
He requested the DG Customs Valuation to provide an opportunity for a meeting to discuss our point of view and take appropriate action to support the local tyre industry.
It is pertinent to mention here that GTR is the largest local tyre manufacturer in Pakistan, producing tyres of international quality standards since its establishment in 1964.
The GTR’s product range includes automotive tyres such as passenger car/SUV radials, light truck radial, truck bus, tractor, motorcycle and Off-the-Road (OTR) applications.
Dawlance and OICCI partner to drive climate action at Pakistan climate conference 2025
Dawlance, a leading home appliance manufacturer in Pakistan, once again partners with the ‘Overseas Investors Chamber of Commerce & Industry’ (OICCI), for the annual ‘Pakistan Climate Conference 2025, where Dawlance also received an award for its contributions in the ‘Water-Stewarship’ projects. This year’s conference builds on the momentum of previous successful forums, focusing on actionable solutions to collectively address the pressing issues of climate change and environmental sustainability.
Dawlance’s partnership with OICCI highlights its ongoing commitment to environmental stewardship, aligning with the company’s parent organization, Arcelik – the second-largest home appliance manufacturer in Europe and a global leader in sustainable technologies. Through this collaboration, Dawlance continues contributing to a climate-positive future, in line with the United Nations’ Sustainable Development Goals (SDGs).
This year’s conference highlights several critical themes including; Climate-finance, decarbonization, circular-economy, community-resilience, and biodiversity. The event brings together key stakeholders—local and international, business leaders, climate experts, policymakers, and industry practitioners — to discuss impactful actions that accelerate Pakistan’s transition to a climate-positive economy.
The Chief Executive Officer of Dawlance in Pakistan – Umar Ahsan Khan stated that: “We are thankful to the OICCI for organising this insightful forum, to emphasize the urgency of the global climate crisis and find its solutions. Since the crisis is caused by humans, we must take actions at every level, from individuals, corporations, and governments, to overcome this crisis, soon. Despite Pakistan’s minimal contribution to global climate-change, the country is facing severe consequences, such as; floods, shifting weather patterns, food-insecurity and rising poverty. We the inhabitants of the Earth must maintain the 1.5°C temperature-rise limit, which has already been exceeded in 2024. Dawlance, as a subsidiary of BEKO – a global enterprise, is committed to sustainability through its “Progress Today, Preserve Tomorrow” initiative. It aims to reduce Scope 1 and 3 emissions by 42% by 2030 and achieve net-zero by 2050. Dawlance invests in R&D to develop sustainable products. All stakeholders should minimize their carbon footprint, to ensure a livable world in future.
Hakan Bulgurlu, CEO of Beko, shared his concerns about the global climate crisis, emphasizing the urgency of reducing carbon emissions. “The world is already experiencing the consequences of surpassing the 1.5°C target set by the Paris Agreement,” he said. “While countries like Pakistan bear the brunt of climate change despite contributing less to global emissions, it is critical for industries to prioritize decarbonization and invest in sustainable technologies. At Beko, we are committed to reducing our carbon footprint by creating energy-efficient appliances, driving the shift towards cleaner energy sources, and supporting sustainable practices for a better future.”
A key highlight of this year’s event centers around a discussion focused on the roadmap for reducing plastic waste. The panel explores global and local best practices in tackling plastic pollution and improving industrial waste management, while focusing on the role of circularity in fostering sustainable outcomes. The panel highlights examples of how businesses are integrating circular economy principles to reduce plastic waste and boost sustainability.
The goal of this discussion is to foster a dialogue around practical solutions and advocate for stronger policy measures to improve waste management systems across Pakistan, while emphasizing the importance of collaboration between the public and private sectors.
MCB Bank Reports Strong Financial Performance for 2024
MCB Bank Limited (MCB) has announced its financial results for the year ended December 31, 2024, delivering another year of strong financial performance and sustainable growth. The Board of Directors, under the Chairmanship of Mian Mohammad Mansha, reviewed the Bank’s performance and approved the annual financial statements. The Board has declared a final cash dividend of PKR 9.0 per share (90%), bringing the total cash dividend for 2024 to 360%, including 270% already paid.
The Bank posted a profit before tax (PBT) of PKR 118.4 billion and Profit after tax (PAT) of PKR 57.6 billion for the year ended December 31, 2024; which translated into earnings per share (EPS) of PKR 48.62. The Bank’s resilient financial performance is attributed to its stable core earnings base, diversified revenue streams, cost optimization initiatives and a strong risk management framework. The PBT on a consolidated basis was reported at PKR 131.2 billion.
Despite a negative spread on saving deposits in the latter half of the year, net interest income recorded a modest 1% year-on-year growth. Non-markup income registered a strong 14% increase, reaching PKR 37.4 billion. This growth was primarily driven by a 5% rise in fee and commission income to PKR 21.2 billion, an 8% increase in foreign exchange income to PKR 9.2 billion, a 15% surge in dividend income to PKR 3.5 billion, and gains on securities amounting to PKR 3.1 billion.
MCB witnessed strong growth in fee-based income across multiple channels, with a 32% increase in card-related income, an 18% rise in branch banking fees, and a 61% jump in investment service commissions. The Bank’s continued investment in digital transformation aims to enhance customer experiences and operational efficiency, fostering broad-based growth across its digital platforms.
Operating expenses rose by 18%, primarily due to staff costs, marketing, utilities, and IT related expenses. However, the cost-to-income ratio remained efficient at 32.68%, reflecting disciplined financial management while continuing to invest in innovation and talent development.
With a strong focus on asset quality, the Bank’s robust credit risk management kept non-performing loans (NPLs) at PKR 53.5 billion as of December 31, 2024, with coverage and infection ratios improved to 99.34% and 4.89%, respectively.
On the financial position side, total assets’ base of the Bank was reported at PKR 2.7 trillion; representing an increase of 11% over year end i.e. December 31, 2023.
A rigorous deposit mobilization drive, focused on building no cost deposits, translated into growth of PKR 116.8 billion in Bank’s total deposit base. Current deposits increased to PKR 944 billion (+8.4%) while the CASA ratio improved to 97.24% compared to 96.81% reported at year end.
Return on Assets and Return on Equity reported at 2.25% and 26.56% respectively, whereas the book value per share was reported at PKR 191.73.
During 2024, MCB attracted home remittance inflows of USD 4,592 million (+41%), improving market share to 13.2%, to further consolidate its position as an active participant in SBP’s cause for improving flow of remittances into the country through banking channels.
While complying with the regulatory capital requirements, the Bank’s total Capital Adequacy Ratio (CAR) stands at 19.35% against the requirement of 11.5% (including capital conservation buffer of 1.50% as reduced under the BPRD Circular Letter No. 12 of 2020). Quality of capital is evident from Bank’s Common Equity Tier-1 (CET1) to total risk weighted assets ratio which comes to 15.49% against the requirement of 6.0%. Bank’s capitalization also resulted in a Leverage Ratio of 6.37% which is well above the regulatory limit of 3.0%. The Bank reported Liquidity Coverage Ratio (LCR) of 241.33% and Net Stable Funding Ratio (NSFR) of 128.29% against requirements of 100%.
Pakistan Credit Rating Agency re-affirmed credit ratings of MCB at “AAA / A1+” for long term and short term respectively, through its notification dated June 22, 2024.
MCB’s exceptional performance and leadership in the financial sector were recognized by the Asian Development Bank (ADB) at its 10th Annual Trade and Supply Chain Finance Program (TSCFP) awards in Singapore. The Bank was honored with two prestigious accolades: ‘Leading Partner Bank in Pakistan’ and the ‘Momentum Award – Issuing Bank’, highlighting MCB’s contribution to trade growth and its reliability in supporting local businesses with international trade solutions.
The annual report 2023 of MCB Bank was rated 1st in the Banking Category and was also declared overall winner across all categories by the Joint Evaluation Committee of ICAP & ICMA. This award is a testament to MCB’s focus on achieving excellence in governance practices and transparency in corporate reporting.
MCB operates the second-largest branch network (consolidated basis) in Pakistan, with over 1,700 branches, and remains one of the most capitalized and traded stocks in the local equity market.
Mian Zahid calls for tax net expansion amidst Rs 468bn revenue shortfall
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on February 3 that the failure to achieve the tax target in January is regrettable.
He said that the tax net should be expanded instead of increasing the burden on taxpayers. All buying and selling types should be digitized to discourage cash transactions so that the situation can improve.
Mian Zahid Hussain said that the tax shortfall against the target in January was Rs 85 billion, while the total tax shortfall during the first seven months of the current fiscal year has reached Rs 468 billion.
Talking to the business community, the veteran business leader said that one of the reasons for the tax shortfall is the policy of continuously increasing the burden on taxpayers. In contrast, the expansion of the tax net is not taken seriously.
Mian Zahid Hussain said there is a lack of trust between the public and the tax-collecting institutions. The taxpayers believe their tax money will be spent on the authorities’ welfare instead of the public, so they do not want to come into the tax net at any cost, which is a wrong argument.
On the other hand, there are numerous loopholes in the tax system, which both government officials and tax evaders benefit from. At the same time, the country remains at a loss, the recent example of which is the corruption in the faceless system of Karachi Customs.
He said that the faceless system was installed recently. Still, corrupt people have misused it, and some officers have been arrested.
Mian Zahid Hussain said that according to the Finance Minister, some big companies are involved in tax fraud of up to Rs 3.5 trillion. At the same time, according to the FBR Chairman, the top five percent of the income earners evade taxes of Rs 1.6 trillion.
These revelations by the top officials are surprising; therefore, he demanded that action be taken against them so things could improve.
Mian Zahid Hussain said that many experts believe that bringing fundamental changes in the economy is slow and steps are not being taken to bring real change.
They think policymakers ignore the real issues by paying more attention to rhetoric and increasing taxes collected to increase revenue.
Important sectors are still enjoying subsidies, and losses of trillions of rupees continue in the distribution of electricity and gas, they say.
The current account surplus is the increase in remittances; imports continuously increase compared to exports, while lenders seem reluctant to lend more.
Commenting on the increase in the price of petrol and diesel, Mian Zahid Hussain said that petrol is used in private transport, small vehicles, rickshaws, and two-wheelers. The increase in its price affects the middle and poor classes.
Diesel is used in heavy transport, such as trains, trucks, buses, tractors, tube wheels, threshers, etc. Due to its price increase, food items become expensive. Still, due to the rise in the price of petroleum in the global market, the increase in the prices of these items in the country is inevitable.
Dr. Zeelaf Munir urges climate action to protect Pakistan’s supply chains
Speaking at the Pakistan Business Council (PBC) Dialogue on Economy, Viceperson and English Biscuit Manufacturer (EBM) CEO Dr. Zeelaf Munir stressed the urgency of mitigating the pressing climate crisis, and warned of the impact climate change would have on stressing supply chains across the agricultural sector in Pakistan.
The Dialogue on Economy, held from 28-29 January in Islamabad, was attended by key government, policy, diplomatic and multilateral decision makers. The public and private sector was brought together to discuss pressing economic challenges facing the country, and the role of sustainability and business resilience in mitigating the impact of the climate crisis.
Speaking at the panel Climate Change: Challenges & Opportunities for the Private Sector, Dr. Zeelaf underscored the imperative for climate action, stating “the climate crisis is knocking at our door with devastating floods and persistent droughts. With 90% of our core ingredients sourced from nature, climate disruptions impact supply chains, product pricing, employee and consumer well-being.”
Chairperson of the Senate Standing Committee on Climate Change, Sherry Rehman, identified structural impediments, such as the absence of a stable regulatory ecosystem and consistent electricity pricing, which hinder businesses from incorporating sustainable practices.
Senator Rehman called for PBC to lead the creation of a knowledge and certification portal to establish green benchmarks and encourage circularity in business operations. She suggested that sustainability must be woven into brand messaging and that the companies should consider including climate action messaging as part of their ad spending.
Furthering the conversation, Dr. Zeelaf called for more than surface-level reforms and urged that governments should incentivise responsible business practices through tax credits and policy support. She also advocated for strengthening industry-academia partnerships and spurring innovation, redefining waste-management infrastructure, and promoting a cyclical economy across all forums.
The panel recommended for climate actions taken by responsible corporations to be incentivised by the government. While the private sector is rapidly moving towards renewable energy sources, it acknowledged the challenge that the private sector faces in addressing indirect (Scope 3) greenhouse gas emissions in the supply chain. Additionally, SMEs need additional support to decarbonise and effectively manage climate risks. Key stakeholders should be encouraged to promote efficient transport models for circularity to reduce emissions within the bulk transport sector.
Continued research and development is required to understand climate vulnerabilities within supply chains, and reporting requirements by the SECP necessitate companies to report on climate related risks they face. There is an urgent need for enhanced capacity-building across the private sector, as well as for policy-makers to have access to climate related data and assess risk-factors.
According to the latest research conducted by Centre for Excellence in Responsible Business (CERB) businesses are already aware of the climate risk, but they are just not ready to address the issue. Environmental health issues have a direct impact on productivity, the research identified, adding that air pollution, water scarcity, and other environmental issues have a concerning effect on employees’ wellbeing, raw material and product supply chains, and work efficiency.
LUMS develops case study on Jazzcash’s remarkable turnaround
Continuing its efforts towards academia-industry collaboration, the Suleman Dawood School of Business (SDSB) at LUMS has developed another case study for its academic and executive programmes, focused on the successful turnaround of JazzCash. This case study highlights the power of disruption and innovation in today’s rapidly evolving business landscape.
SDSB has pioneered the use of the case method of teaching in Pakistan. Students engage with real-world business challenges, assuming the role of decision-makers to analyse and develop practical solutions in an interactive classroom setting.
Authored by SDSB faculty, Dr. M. Adeel Zaffar, Dr. Adnan Zahid and Dr. M. Shehryar Shahid, the case titled, JazzCash: Successful Fintech in an Emerging Market explores how the company navigated uncertainty and embraced disruption to transform into a leader in Pakistan’s fintech sector. Students will examine JazzCash’s journey from a period of significant challenges to becoming the country’s largest fintech platform, focusing on the adaptability, innovation, and resilience that drove its success.
JazzCash’s evolution – from overcoming high attrition and operational hurdles to becoming Pakistan’s first profitable fintech by 2023 – serves as a model of strategic restructuring, customer-centric innovation, and technological overhaul. Today, JazzCash is the country’s largest issuer of digital loans, leading QR payments network, and a dominant player in e-commerce payment solutions.
Murtaza Ali, President of JazzCash, expressed his appreciation for LUMS, stating, “Our transformation was fueled by a commitment to creating a sustainable business that offers real value to customers and society. Through this partnership with LUMS, we aim to inspire future leaders to pursue ambitious goals while balancing profitability with social impact.”
LUMS continues to enrich student learning by integrating impactful case studies that bridge theory and practice, furthering its dedication to advancing education and fostering meaningful industry partnerships, and preparing future leaders to drive change in both local and international contexts.
FDA authorises ZYN as first nicotine pouch in US
The US Food and Drug Administration (FDA) recently authorised ZYN nicotine pouches making ZYN the first and only authorised nicotine pouch in the United States.
The FDA’s authorization of all ZYN nicotine pouches currently marketed by Swedish Match in the US is an important step to protect public health by providing better alternatives to smoking and other traditional tobacco products for adults.
“The FDA’s decision recognizes the role that ZYN can play in the benefit of public health by helping adult users switch from smoking and other traditional tobacco products. An estimated 25.4 million people consume tobacco products in Pakistan, with smoking being the most harmful form of nicotine consumption due to combustion, of tobacco” said Ali Takesh, Managing Director Philip Morris (Pakistan) Limited.
FDA’s decision is an example that countries like Pakistan with high prevalence of smoking and tobacco use can also responsibly market smoke-free products to lessen the health burden on the economy” he added”.
Meezan bank with Mastercard introduce FCY debit card for seamless global payments
Meezan Bank, Pakistan’s leading Islamic bank, has announced the launch of its Foreign Currency (FCY) Debit Card for Pakistani exporters and freelancers who hold an Exporters’ Special Foreign Currency Account (ESFCA) with the Bank.
Powered by Mastercard, the FCY Debit Card is accepted worldwide and simplifies international payments, making it easier to manage business transactions abroad as well as make payments at retail outlets worldwide. Exporters and freelancers can now access their ESFCA account to make all types of payments, without the need for prior approval from the State Bank of Pakistan (SBP).
The new FCY Debit Card also allows customers to withdraw cash from Mastercard ATMs worldwide, track their spending in real time, and easily make cross-border payments. Additionally, the card is equipped with 3D Secure technology, adding an extra layer of protection for e-commerce transactions. For added convenience, the card is also NFC-enabled, allowing contactless payments at retail outlets worldwide.
“We are excited to introduce this new offering as part of our ongoing commitment to empowering Pakistan’s exporters and freelancers with enhanced financial tools, especially in today’s increasingly interconnected global economy,” said Syed Iftikhar ul Haq, Group Head – Consumer Finance at Meezan Bank. “Whether you’re traveling, shopping online, or conducting business internationally, the FCY Debit Card streamlines the payment process and provides a secure, efficient way to manage transactions across borders, ensuring peace of mind wherever you go.”
This partnership with Meezan Bank demonstrates our dedication to delivering innovative payment solutions that cater to the evolving needs of exporters and freelancers in Pakistan,” said Arslan Khan, Country Manager for Mastercard in Pakistan. “We congratulate Meezan Bank on this initiative to support businesses as they expand their reach in the global marketplace.”
ACCA-IMA survey: talent scarcity, cybersecurity & economic risks top 2024 concerns
Facing a highly uncertain year ahead, amid a new US administration, heightened geopolitical tensions, and various domestic economic and political challenges, the latest ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) Global Economic Conditions Survey (GECS) of over 1,800 finance professionals recorded a marked fall in confidence in Q4 2024. There was also a sharp deterioration in the Employment Index.On a more positive note, there were small gains in the forward-looking New Orders Index and the Capital Expenditure Index.
Confidence fell markedly in Western Europe and is at its weakest since Q3 2022. Strikingly, UK confidence is at a record low, amid the announcement of large tax rises for employers in the recent Chancellor’s statement. There were also quite material declines in confidence in Asia Pacific and North America. Ongoing concerns about the Chinese economy and the risk of an increase in US tariffs likely weighed on sentiment in the former. The fall in confidence in North America reflected a sharp deterioration in sentiment among Canadian respondents, with confidence in the US rising for the second consecutive quarter, reflecting the ongoing resilience of the world’s largest economy.
Encouragingly, cost pressures no longer look elevated by historical standards in most regions, although Western Europe is the clear outlier, with almost three-quarters of respondents reporting increased costs in Q4. Central banks in the region need to be careful not to prematurely declare victory in their battles against inflation.
Jonathan Ashworth, Chief Economist, ACCA, said: “The global economy proved quite resilient in 2024, aided by the strength of the US economy. The greater resilience of the Global New Orders and Capital Expenditure indices would suggest that the global economy is not set to lurch downwards imminently. Nevertheless, while the Global Confidence Index can at times be volatile, its sharp decline attests to the significant nervousness among companies, given the enormous uncertainty at the current juncture. Against such a backdrop, there are significant downside risks to global growth over the coming year.”
Alain Mulder, Senior Director Europe Operations & Global Special Projects at IMA said: “Confidence in the US registered a reasonable gain after a large increase previously and is now slightly above its historical average. There were also improvements in the other key indicators by varying degrees. This is clearly an encouraging sign, because the US is the only major engine of the global economy where activity is showing significant resilience at the present time.”
Accountants identified their top three risk priorities at the end of 2024. Although economic risks remained the highest priority for the second year running, talent scarcity, regulatory change, and cybersecurity ranked much closer to the top than in Q4 2023. Responses in Q4 2024 showed noteworthy regional and sectoral nuances. For example, Central and Eastern Europe was the only region to rank cybersecurity as its highest risk priority, while talent scarcity was most important in Asia Pacific and Western Europe. South Asia and North America also stood out for keeping geopolitics in their top three.
PTCL launches first-ever whatsapp bill payment solution in partnership with payfast
Pakistan Telecommunication Company Limited (PTCL), the country’s largest ICT services provider, has partnered with PayFast, a State Bank of Pakistan-licensed Payment Service Provider (PSP), to launch for the first time an innovative bill payment solution via WhatsApp. This cutting-edge service enables PTCL customers to view and pay their bills directly through WhatsApp, representing a major step forward in digital customer service for Pakistan’s telecom industry.
The official signing ceremony for the launch was held at PTCL Headquarters in Islamabad, with senior leaders from PTCL, eOcean and PayFast in attendance. This collaboration allows customers to choose from a variety of payment methods, including major banks and popular mobile wallets. The seamless integration of this service is powered by eOcean, a leading cloud communication service provider.
To complete a payment, customers have to enter their CNIC and account number, verify the transaction via OTP on their registered mobile numbers, and receive an instant receipt within the chat. In addition to bill payments, the PTCL WhatsApp bot offers features designed to improve the customer experience. PTCL’s WhatsApp bot not only facilitates bill payments but also offers a range of customer-centric features designed to enhance convenience. These include real-time troubleshooting for service issues, bill inquiries, tax certificate retrieval, and the ability to subscribe to additional services like Flash Fiber bolt-ons.
Syed Atif Raza, Group Chief Commercial Officer, PTCL & Ufone 4G, stated, “The WhatsApp-based bill payment solution aligns with our digital transformation strategy, aimed at enhancing customer convenience and delivering top-notch services. PTCL is proud to pioneer this solution in Pakistan through a partnership with PayFast, setting a new benchmark in the industry for customer experience. We are committed to streamlining interactions for our valued customers and making digital transactions as simple as possible.”
PayFast’s CBO – Mahwish Saad Khan stats, “Our partnership with PTCL is a pivotal milestone in redefining digital payment experiences in Pakistan. By integrating PayFast’s reliable and user-friendly payment solutions with PTCL’s WhatsApp bot, we are making transactions easier and more secure than ever. Together, we are fostering a culture of digital innovation to empower customers nationwide with accessible payment options.”
Adding to the conversation, Altaf Siddiqui, Director of Products, eOcean, commented, “WhatsApp chatbots offer transformative potential for telecommunication providers by enabling instant top-ups and personalized customer support at scale. With WhatsApp’s unmatched reach and adaptability, it seamlessly aligns with user preferences, making it an ideal platform for PTCL to enhance customer interactions and ensuring swift service delivery.”
The launch of WhatsApp bill payments marks another significant step in PTCL, eOcean and PayFast’s joint commitment to transforming customer interactions and advancing digital innovation in telecom sector, playing a pivotal role in building a digitally empowered Pakistan.
ACCA’s 2025 global economic outlook: navigating uncertainty amid key risks and opportunities
The second edition of ACCA’s annual economic outlook examines the prospects and major risks for the global economy and key countries. The report, 2025 Global Economic Outlook: A highly uncertain world, includes an exclusive interview with economist Charles Goodhart, highlights key events in 2025, examines three trends to watch closely, and interviews chief financial officers (CFOs) from across the globe.
Distinguished economist Charles Goodhart reflects on the enormous uncertainty in the global economy currently. He suggests that the US economy may perform strongly in 2025, but that Europe and the UK could struggle. He is generally optimistic about India’s prospects. As regards inflation, Goodhart argues it could fall in the short-run but will likely rebound in 2026 and 2027, where upwards pressure may become quite considerable in the US. On artificial intelligence (AI), he asserts that while it may not be a silver bullet for poor productivity growth, it could help reduce inequality within countries.
Jonathan Ashworth, chief economist at ACCA and author of the report, said: “The global economy should continue to grow at a reasonable, but not particularly exciting pace in 2025. But it is a world marked by significant uncertainty. The risks are predominantly on the downside, amid potential changes in US trade policy, a challenging geopolitical backdrop, political uncertainty and rising government bond yields.”
The report highlights three key trends to watch in the global economy in 2025:
- Developments with AI: The emergence of AI agents promises new productivity breakthroughs, but hybrid solutions integrating other technologies will be crucial for sustained value.
- Rising geoeconomic fragmentation: Will US trade policies begin to push globalisation into reverse.
- Further retreating from green policies: Amid cost-of-living pressures and political shifts in developed economies, climate-related commitments are under strain, with potential long-term consequences for sustainability.
CFO perspectives
The report features insights from seven CFOs across diverse industries and regions. In general, while interviewees did not appear to be expecting a notable slowing in global growth, there was some caution given the significant global uncertainty. A wide range of risks were highlighted such as US trade policy, geopolitics, inflation, climate change and cybersecurity. AI continues to be a priority, with businesses recognising both its potential and its disruptive challenges. A recurring theme among CFOs is the need for agility, innovation, and resilience in navigating an uncertain economic landscape.
“In a year marked by significant uncertainty, understanding the interplay of economic, political, and technological factors is critical for businesses and policymakers,” Ashworth concluded.
Pakistan’s cement industry sees growth in January 2025 with 14.08% increase in total despatches
According to the data released by All Pakistan Cement Manufacturers Association (APCMA), local cement despatches by the industry during the month of January 2025 were 3.313 million tons compared to 2.967 million tons in January 2024, showing an increase of 11.64%. Exports despatches also increased by 30.25% as the volumes increased from 446,595 tons in January 2024 to 581,691 tons in January 2025. Total cement despatches during January 2025 were 3.894 million tons against 3.414 Million Tons despatched during the same month of last fiscal year showing an overall increase by 14.08%.
In January 2025, North based cement mills despatched 2.728 million tons cement showing an increase of 12.08% against 2.434 million tons despatches in January 2024. South based mills despatched 1.166 million tons cement during January 2025 that was 19.04% more compared to the despatches of 0.980 million tons during January 2024.
North based cement mills despatched 2.669 million tons cement in domestic markets in January 2025 showing an increase of 11.89% against 2.385 million tons despatches in January 2024. South based mills despatched 644,173 tons cement in local markets during January 2025 that was 10.63% more compared to the despatches of 582,258 during January 2024.
Exports from North based mills increased by 21.42% as the quantities increased from 48,883 tons in January 2024 to 59,355 tons in January 2025. Exports from South also jumped by 31.34% to 522,336 tons in January 2025 from 397,712 tons during the same month last year.
During the first seven months of current fiscal year, total cement despatches (domestic and exports) were 26.827 million tons that is 1.71% lower than 27.295 million tons despatched during the corresponding period of last fiscal year. Domestic despatches during this period were 21.435 million tons against 23.196 million tons during same period last year showing a reduction of 7.59%. This downfall was subsided by export despatches that showed an increase by 31.54%. Export volumes jumped to 5.392 million tons during the first seven months of current fiscal year compared to 4.099 million tons exports done during same period of last fiscal year.
North based Mills despatched 17.854 million tons cement domestically during the first seven months of current fiscal year showing a reduction of 6.80% than cement despatches of 19.157 million tons during July-January 2024. Exports from North however increased by 28.37% percent to 1.051 million tons during July-January 2025 compared with 819,353 tons exported during the same period last year. Total despatches by North based Mills reduced by 5.36% to 18.905 million tons during first seven months of current financial year from 19.976 million tons during same period of last financial year.
Domestic despatches by South based Mills during July-January 2025 were 3.582 million tons showing reduction of 11.32% over 4.039 million tons cement despatched during the same period of last fiscal year. Exports from South increased by 32.33% to 4.340 million tons during July-January 2025 compared with 3.280 million tons exported during the same period last year. Total despatches by South based Mills increased by 8.24% to 7.922 million tons during first seven months of current financial year from 7.319 million tons during same period of last financial year.
A spokesman of APCMA expressed continued concerns of the industry in relation to duties and taxes structure on cement that pose major bottleneck for domestic demand. “Cement being an essential commodity and not a luxury item, the Government should rationalize its tax structure, as the lower cost to end consumer will boost construction activities and employment in the sector,” he added.
Agriconnections 2025 to boost Pakistan’s agricultural growth
The Pakistan Agricultural Coalition (PAC), in collaboration with the World Bank Group, will host the AgriConnections 2025 conference and expo on February 12 and 13 at the Karachi Expo Centre. The two-day conference will bring together top international and Pakistani experts, policymakers, financial institutions, and agribusiness leaders to explore investment opportunities and transformative solutions for Pakistan’s agriculture sector.
Speaking to the media ahead of the event, Kazim Saeed, CEO of Pakistan Agricultural Coalition, highlighted the significance of AgriConnections 2025 for the country’s agricultural economy. He stated, “Pakistan’s agriculture sector has the potential to become an agricultural super power, but this requires strategic investments, modern financial tools, and policy reforms. Pakistan Agricultural Coalition, in partnership with key corporate players, has been working to bridge these gaps, and this conference will serve as a crucial platform to identify solutions and connections that drive investment and growth.”
The conference will feature sessions on critical topics such as developing a national agri-commodity market, scaling up investment in agriculture, and strengthening policy frameworks. Experts will also discuss how Pakistan’s farmers can benefit from carbon credits, financial inclusion through agri-fintech, and the role of public-private partnerships for empowering farmers. Insights from Hungarian agricultural specialists will shed light on best practices that Pakistan can adopt to improve efficiency and productivity.
A key highlight of AgriConnections 2025 will be ZarZaraat, an agri-startup competition sponsored by The Bank of Punjab in collaboration with Pakistan Business Council and Pakistan Banks Association. This initiative aims to support emerging agri-tech entrepreneurs who are working on innovative solutions to modernize farming and agribusiness in Pakistan. The event will be attended by leading financial and agricultural experts, policymakers, and corporate leaders, all contributing valuable insights on strengthening Pakistan’s agricultural resilience and economic growth.
Supported by major financial institutions, agribusiness giants, and knowledge partners, AgriConnections 2025 is expected to shape the future of agriculture in Pakistan, creating new opportunities for stakeholders across the value chain.
EBM champions inclusivity at SOP Unified Marathon in Karachi
For ten years, English Biscuit Manufacturers (EBM), the makers of Peek Freans, has remained committed to nourishing an inclusive society through supporting the Special Olympics Pakistan (SOP) Unified Marathon. This partnership underscores EBM’s mission to empower individuals of all abilities and champion equitable opportunities.
Recognised as one of Karachi’s most impactful initiatives, the SOP Unified Marathon unites people from all walks of life to promote awareness and inclusion. This year’s event, held at The Governor House, reinforced the power of community engagement in breaking social barriers and encouraging acceptance through sports.
“Being part of this marathon for a decade reflects our unwavering commitment to inclusivity and empowerment,” said Shahzain Munir, Executive Director of EBM. “At EBM, we believe in nourishing lives not just through our products but by fostering a society where everyone is valued and given equal opportunities.”
EBM employees actively contribute to the event’s success, volunteering in large numbers and exemplifying the company’s commitment to positive social change.
Standard Chartered and Karachi United concludes Seventh Football Youth League
Highlights:
- 1360 boys and girls across Karachi
- 70 teams
- 192 matches over four months
Standard Chartered Karachi United Youth Football League 2024 held its closing ceremony today, having sponsored over 1,300 footballers.
Over the last seven years, in partnership with Karachi United Foundation, this exemplary sporting initiative has engaged more than 7000 talented players and tens of community centres. This year’s competition saw a total of 1360 boys and girls from across Karachi participate in matches. This year’s tournament began in August 2024 and since then has seen more than 192 matches being played.
The objective of the “Standard Chartered Karachi United Youth League” is to provide a platform for Youth football teams from across the underserved areas of Karachi to come together, break barriers and inculcate the spirit and culture of sport and competition.
Tasneem Mirza, Head Community Impact & Engagement, Standard Chartered Pakistan said, “At Standard Chartered we are committed to empowering youth sports, fostering talent and creating opportunities for the next generation. Our support for the SC KU Youth League reflects our belief in the power of football to inspire, unite communities and instil essential life skills. By investing in grassroots sports through our Futuremakers initiative we aim to nurture young talent and contribute to a more inclusive future for Pakistan. Together with our partners, over a seven-year period, the SC KU Youth League experience has positively impacted over 7,000 children.”
Imran Ali, CEO, of Karachi United said: “The Youth League consistently impresses us with its capacity to attract new players and communities each year. It has undoubtedly become the largest youth competition in Pakistan, featuring 1300+ participants, including girls, and an impressive total of 192 matches conducted over a span of four months. We receive outstanding feedback from community stakeholders regarding the positive impact this initiative has on their regions, and we are also discovering emerging football talent. Building on the success of this league, Karachi United is enhancing our community engagement through sports festivals and social action initiatives. This achievement would not be feasible without the support of our partners at Standard Chartered, and we are sincerely appreciative of their ongoing assistance.”
Zong 4G Joins Hands with Breathe Pakistan to Drive Green Innovation
Zong 4G, leader in technological innovation proudly partners with Dawn Media Group for ‘Breathe Pakistan International Climate Change Conference. -’, a two-day conference bringing together international and local and government bodies, corporate leaders, experts and innovators who are dedicated to shaping a sustainable future to make Pakistan climate resilient –
The conference took place on February 6th and 7th, 2025, at the Islamabad Convention Centre, and was a collaborative initiative with, United Nations, Government of Punjab and KPK as theprincipal partners. Over 15 dynamic sessions were conducted with more than 90 speakers across 11 countries uniting to make Pakistan climate-resilient by 2047.
The highlight of the summit was the ‘Roundtable Symposium: Igniting a Dialogue Between Government & Corporate Sector on A New Blueprint for Climate Resilience in Pakistan.’ The session was chaired by the Deputy Prime Minister, Mr. Ishaq Dar, and Minister for Foreign Affairs, alongside leading corporate executives, including Zong 4G’s Head of Strategy, Communication & Sustainability, Nabila Yazdani.
“We at Zong believe in addressing climate change innovation and compassion- combining cutting-edge technology. – it is about creating a future that is technologically advanced, environmentally sustainable, economically viable and socially responsible.” said Nabila Yazdani. “This conference provides a vital platform to collaborate with policymakers and industry leaders in shaping a greener Pakistan.”
- Zong 4G has been at the forefront of green energy adoption, with solarized over1,000 cell sites and 12,000 plus sites operates on lithium-ion batteries, reducing its carbon footprint while ensuring seamless connectivity. Also, they have prioritized energy-efficient Rated-3 certified data center, significantly reducing greenhouse gas emissions.
The company has also played a pivotal role in disaster relief, restoring connectivity during the recent floods in Sindh & Baluchistan, actively restored connectivity to support families, rescue teams, and government agenciesalong with 30+ free medical camps offering 13,000+ free consultations in affected regions.
With an extensive lineup of industry leaders, policymakers, and global experts, Breathe Pakistan served as a crucial forum to drive actionable strategies toward a more sustainable and climate-resilient nation.