Shell Pakistan launches Pakistan’s first-ever recycled plastic retail site in Karachi
Shell Pakistan Limited (SPL) launches Pakistan’s first-ever recycled plastic retail site, Malik Service Station at Shahrah-e-Faisal, Karachi. This initiative aligns with SPL’s commitment towards sustainability; and promotes circular economy and environmentally friendly practices.
The organisation collaborated withDabeer Hemani and Syed Ali Naqi, cofounders of Concept Loop, and Shell Tameer alumnus to bring this vision to life. The construction of the retail site utilized approximately 6,500 kilograms, or roughly 1.3 million pieces, of end-of-life plastic waste, in plastic infused pavers and concrete blocks using multi layered plastic waste. According to research, a simple plastic bag can take up to 500 years to decompose while a plastic bottle can take around 300 years, leaving behind a threat to nature by being non-biodegradable and toxic. The newly rebuilt retail site represents a significant step towards a more sustainable future.
The initiative demonstrates the potential of recycled materials in building robust infrastructure and emphasises the importance of sustainability in modern development.
Speaking on the occasion of the inauguration of the site, the Chief Executive and Managing Director of Shell Pakistan Limited, Waqar Siddiqui, stated, “We are incredibly proud to unveil this one-of-its-own-kind retail site. Innovative solutions such as this need to be tried and tested. The success of the plastic infused road and the recycled plastic site can serve as an inspiration for future infrastructure developments. A ripple effect is what aspire to achieve – inspiring broader adoption of sustainable practices.”
The recycled plastic retail site marks a significant milestone for SPL’s sustainability journey and circular economy practice. The company remains committed to exploring new avenues for environmental responsibility and innovation.
Zong Celebrates Digital Day, Envisioning Zong 4G as an Excellent Information Services & Technology Innovation Company
Zong 4G, Pakistan’s leading mobile network operator, celebrated Digital Day 2024 in grand style at its headquarters today. The event served as more than just a celebration; it was a resounded CEO Zong 4G’s vision of positioning Zong 4G as an excellent information services and technology innovation company.
While welcoming employees to the Digital Day celebrations at Zong HQ. CEO Zong 4G Mr. Huo Junli quoted “This day was yet another positive step taken towards building Zong as an information services provider and the displays are a testament to that. Today, we align ourselves to our vision of ‘Excellent Information Services and Technology Innovation company in Pakistan. From legacy network expansion, setting up state-of-the-art Data Centers as a backbone of cloud services, to building network-neutral product portfolio.
Taking this direction was imperative to the sustainability, success, and market leadership of Zong. We had to adapt to the changing landscape of technology and the dynamic consumer demands. As we entered a new age of Zong, we also embodied our values of Integrity, Openness, Responsibility, and Excellence. In doing so, we were able to drive growth within and beyond the organization – growth that was crucial to the Sci-Tech transformation we wished to see in Zong.
I am delighted to see the product displays today, we have an attractive portfolio of digital products such as Zong Engage, Zong Road Assistance, and Banking as a Service (BaaS). These innovations, available through the My Zong App, are designed to simplify our customers’ lives.”
Aiming to amplify awareness and adoption of their digital services, promote digital literacy through engagement, cultivate a sense of community with interactive activities, showcase the impact of their digital transformation, and ultimately drive collaboration and collective growth within the Zong ecosystem, Zong partnered with several prominent players in the digital services realm. These collaborations showcased their collective commitment to enhancing Pakistan’s digital landscape and encompassed a diverse range of offerings and purposes.
DeCode, a handset manufacturer and Zong are working together to make smartphone technology accessible to all. This partnership offers affordable smartphones and discounted bundled data plans with Zong SIMs which will in turn increase digital penetration.
MedIQ, a health services provider, offers convenient access to on-demand healthcare, both in-person and via a digital platform. The partnership provides a user-friendly digital platform for managing healthcare needs.
With Zong Road Side Assistance, you can say goodbye to your on-road worries. This is an Industry First Digital Product to Provide Emergency assistance for Bike and Car issues. Zong Customers can now access this Service via My Zong App As well as by dialing Short Code.
Engage by Zong brings the thrill of gaming to life by enhancing the gaming experience with exclusive content, features, and tournaments on Zong’s reliable network.
Zindagi, digital finance service provider, simplifies financial management being a one-stop shop for payments, trading, money transfers, app theme personalization and aiming to improve financial literacy.
Budget and tax burden troublesome for common man: Mian Zahid
Chairman of FPCCI Advisory Board and National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said July 8 that people are finding it harder and harder to live with this budget.
He said every necessity of life has become very expensive and out of most people’s reach while non-filers and tax defaulters find novel ways to avoid taxes, existing taxpayers will be forced to bear the burden of the government’s new tax measures to boost collection.
Talking to the business community, the veteran business leader said the volume of the current budget is Rs18,500 billion and despite the taxes of Rs12,900 billion, an increase of 40%, it has a deficit of Rs8,500 billion.
He said the government must borrow Rs5,700 billion to bridge the gap. The current budget has set aside ten thousand billion rupees for debt servicing. In contrast, next year, Rs11,000 billion will be required.
Taxes must be increased by another Rs5000 billion but the budget deficit will remain the same.
Mian Zahid Hussain said that changes and experiments have been made in every sector of business activities, including exports, in the current budget. As a result of these experiments, it is widely feared that the economy will be damaged if exports decrease by four to five billion dollars.
The business leader said the export sector should have been left alone to function peacefully. The tax burden on the salaried has been increased. Government spending, salaries, and pensions of top officials have increased, but ordinary people have been left behind.
Mian Zahid Hussain said that the government has claimed to work on pension reforms and the imposition of tax on traders. Still, this work will continue until the next budget, while efforts will be made to save costs by closing some departments.
He noted that if all the economic activities were digitized, the term non-filer would be automatically abolished, the tax base would be widened, and the government would get the tax comfortably.
Mian Zahid Hussain said that due to the measures proposed in the budget, the traders will not come into the tax net at any cost. Still, they will be attracted to the cash economy.
He said that public anxiety is growing in masses and businesses. Still, the government is not ready to follow the suggestions of FPCCI, the largest organization in the business community, which is a mistake.
FPCCI is still prepared to support the government in bringing the country out of economic recession, increasing exports, broadening the tax net, and providing convenience to the people, he said.
Alhuda Cibe: mission to strengthen Islamic Banking and finance in West Africa
AlHuda Centre of Islamic Banking and Economics (CIBE) top management visited the heart of Francophone markets Senegal, Ivory Coast, Mauritania and Guinea. The key objective of the visit was to analyse, evaluate and understanding about financial markets, adoptability and scope for Islamic Finance Industry. West Africa based on 16 Nations, among 5 are English speaking Gambia, Nigeria, Sierra Leone, Liberia and Ghana where AlHuda CIBE has in-depth foot prints, rest 11 Nations are French Speaking, overall, approximately 55% population is Muslim. In financial sector, Islamic finance industry is early stage of penetration, where big players are sitting as backbenchers yet, but at the same time governments are playing significant role through issuance of Islamic Bonds (Sukuk) for mega projects to deploy cash flow from public.
The interest from government and big francophone institutions like Coris Bank, Burkina Faso, Afriland First Bank, Cameroon, Bank for Commerce and Industry (BCI), Mauritania offering Islamic finance products through window operations regionally, Bank Islamic Senegal, Bank Islamic Guinea, Bank Islamic Niger, and Bank Islamic Mauritania are full-fledged Islamic Banks. There are some Takaful (Islamic Insurance) players as well through window operations like Leadway and Saar Assurance etc. Other than francophone, English speaking countries like Nigeria and Gambia are good with Islamic Banking, Takaful and Microfinance through window and full institutional practices.
During mission to West Africa, Mr. Muhammad Zubair, Chief Executive Officer AlHuda CIBE meet with high level officials in Ivory Coast from Banking, Insurance, Microfinance and Fintech, also with Multilateral organizations associated organs. In Senegal he met with Islamic Banking, Capital and Money Market experts. He also met with Waqaf Authority, Takaful operators and microfinance sector.
In Mauritania he met with top management of Central Bank, banking, microfinance, and capital market-oriented professionals. In Guinea, he met with Central Bank, banking and Microfinance officials. After having an in-detail interaction with Islamic Finance experts and the players who want to enter in this particular business area, he said that francophone Africa has huge potential and a strong regulatory support from regulators like BCEAO and individual central banks. As an expert with global experience, he observed and highlighted the gap areas and approach to overcome the gaps.
As per our global presence and networking activities, he shared his intentions for two major activities to be organized by AlHuda CIBE significantly for francophone markets to play our role for bridging the gap in market. AlHuda CIBE will host an international conference in the heart of French speaking countries Dakar, Senegal in October 2024 the purpose is to create a platform for international partnerships, awareness and way forward for adoption of Islamic Finance through leadership. He also said that AlHuda CIBE will organize study and exposure visit programs for French players to any of the developed market where Islamic Finance Industry is very well established.
During the Year it was our first Mission to West Africa where we went to Senegal, Mauritania, Guinea and Ivory Coast, in second phase we will be going to Togo, Benin, Burkina Faso and Mali in the month of August. In his concluding remarks he said, “Our mission to West Africa highlights AlHuda CIBE commitment to fostering the growth of Islamic banking and finance across the continent. The region holds immense potential, and our engagements with key stakeholders have been incredibly productive. We are excited about the future of Islamic finance in West Africa and look forward to expanding our efforts to include other countries in the next phase of our mission. This initiative is not just about financial growth but also about promoting economic justice and financial inclusion through Islamic finance principles.”
Milestone event: Soneri Bank opens 500th branch in Karachi
Soneri Bank is proud to announce the grand opening of its 500th branch, located in Karachi, Khayaban-e-Shamsheer. This milestone event underscores Soneri Bank’s commitment to bringing banking services closer to our customers’ doorsteps and supporting SBP’s objective of bringing the unbanked sector into the banking fold.
The grand opening ceremony was a significant event, graced by Mr. Jameel Ahmed, Governor State Bank of Pakistan, as Chief Guest, and attended by distinguished members of Soneri Bank’s leadership. The ribbon-cutting ceremony was led by Mr. Jameel Ahmed, Governor of SBP, and Mr. Amin Feerasta, Chairman of Soneri Bank, alongside several high-ranking dignitaries from the Soneri Management Team.
Mr. Jameel Ahmed praised Soneri Bank’s expansion efforts stating, “Soneri Bank’s journey to this milestone is commendable. Their dedication to enhancing banking services aligns with our vision of a robust and inclusive financial sector.”
Mr. Amin A. Feerasta, Chairman, Soneri Bank, expressed his enthusiasm for the new branch and its offerings saying, “Today, as we celebrate the opening of our 500th branch, we reinforce our dedication to innovation, growth, and excellence in customer service.”
Mr. Muhtashim Ahmad Ashai, President & CEO of Soneri Bank, stated, “The opening of our 500th branch is a testament to our collective commitment to delivering the best banking experience to our customers.” and Mr. Ahsan Mushahid, Deputy CEO, Soneri Bank, shared his appreciation for the team’s efforts stating, “We are immensely proud of our team for their dedication and hard work in reaching this remarkable milestone.”
Soneri Bank’s journey to 500 branches has been marked by strategic growth and a deep commitment to customer satisfaction. As Soneri Bank continues to expand, it remains dedicated to its core values of Customer Centricity, Ownership, High Moral Standards, being Proactive and Collaborating.
Looking ahead, Soneri Bank plans to continue its strategic expansion with further investments in technology and customer service initiatives. The bank’s commitment to efficient customer service will drive its future growth.
Sindh govt to showcase projects at IEEEP Fair to invite investment: Nasir
Minister of Energy, Government of Sindh, Syed Nasir Hussain Shah has said that they will showcase their ongoing and upcoming projects across rural and urban Sindh to the international and local visitors and exhibitors at the IEEEP Fair in order to invite investment and foster joint ventures and partnerships for the country’s economic development.
He was speaking as the chief guest at the soft launching ceremony of the 13th edition of the Institute of Electrical and Electronics Engineers Pakistan (IEEEP) Fair that is to be held at Karachi Expo Center in September.
“The provincial Energy Department stands fully committed to supporting this initiative. We will work closely alongwith our support departments in the ministries of Investment, Planning, and Development to ensure robust participation and engagement during the fair.
“During the fair, we will establish offices of relevant ministries to engage with international and local visitors and exhibitors. This initiative aims to showcase our ongoing and upcoming projects across rural and urban Sindh, inviting investment and fostering joint ventures and partnerships that will contribute significantly to our economic development,” said Nasir.
He added that the provincial ministry of Energy patronizes the IEEEP Fair, demonstrating our commitment to facilitating business-to-government interactions and driving growth in the energy sector.
Engineer Naveed Akram Ansari, Chairman IEEEP, on the occasion said that the IEEEP Fair annually brings together over 100 local and international companies and this three-day exhibition serves as a pivotal platform for professionals, government officials, and industry leaders to foster collaboration and address the evolving needs of our nation.
Chief Executive Badar Expo Zohair Naseer in his vote of thanks said that the the purpose of this soft launch was to provide a platform to stakeholders from various sectors such as Construction, Textile, IT, and others, who play crucial roles in the Electrical & Electronics industry.
“We are confident that our new initiatives, including industry seminars and the participation of top electrical and electronic consultants, will elevate knowledge sharing and foster substantial business engagements,” said Zohair.
Additionally, he added, our specially curated networking lounges for ABAD, APTMA, and Sindh Energy Departments will facilitate exhibitors in showcasing their offerings and exploring future business avenues.
MCB Bank, PITB and Mastercard to collaborate on Payzen and enhance digital payment landscape
MCB Bank Limited, one of Pakistan’s leading banks, has entered into a strategic partnership with the Punjab Information Technology Board (PITB) and Mastercard Asia/Pacific Pte. Ltd. The ceremony, held at MCB Bank’s head office, brought together senior representatives from all three organisations, marking a significant step towards advancing digital payment solutions in Pakistan.
Through this partnership, MCB Bank reaffirms its commitment to leveraging cutting-edge financial technologies to foster economic growth and financial inclusion across the region. The integration of Mastercard’s advanced payment solutions with PITB’s innovative Payzen platform is expected to revolutionize the digital payment landscape, providing real-time, secure transaction capabilities to Pakistani users.
The agreement was signed between Mr. Shahzad Ishaq – Group Head Digital Banking, MCB Bank and Mr. Khurram Mushtaq – ADG, PITB in the presence of Mr. Haroon Rasul Khokhar – Project Director PITB, Mr. Imran Yousaf – Head Payment Solutions MCB Bank and other representatives from MCB Bank, PITB and Mastercard.
Speaking at the occasion, Mr. Shahzad Ishaq, Group Head Digital Banking, MCB Bank said “We are thrilled to partner with PITB and Mastercard to revolutionize the digital payment ecosystem in Pakistan. This MoU signifies a major step forward in our commitment to providing innovative, secure, and user-friendly payment solutions. By leveraging advanced technologies, we aim to enhance the financial inclusion and economic growth of our country.”
Mr. Khurram Mushtaq – ADG, PITB also added, “PITB is excited to collaborate with MCB Bank and Mastercard to bring transparent and accessible payment solutions to Pakistan. The integration of our Payzen platform with Mastercard’s payment gateway services will streamline government and private transactions, ensuring a seamless and efficient experience for all users. This partnership underscores our dedication to harnessing technology for public benefit.”
Thar Foundation Supports 50 Thari Students, Including 13 Girls in Mining Education
Pioneering gender inclusivity and youth skill development in the mining industry, Thar Foundation has enrolled 13 girls in the 3-year DAE (Diploma of Associate Engineering) Mining program at Government Polytechnic Institute (GPI) – Mithi where they will be trained to become skilled mining professionals.
Under this DAE Mining program, ~50 students including 13 girls for the first time are receiving quality education in the DAE Mining.
These students will undergo a comprehensive two-year study program followed by a third year of studies in China. This initiative aligns with Thar Foundation’s vision of empowering the women of Thar and enhancing the local talent development of the community, interlinking the UN SDG Goal 4 and 5 of Quality Education and Gender Equality.
Amir Iqbal, Chief Executive Officer of Sindh Engro Coal Mining Company (SECMC) and Thar Foundation, expressed his enthusiasm stating, “The induction of 13 girls in the DAE Mining program marks a historic moment in our journey towards gender inclusivity and youth skill development agenda. This program is a game-changer in recognizing and enhancing the talent of the community in the industry and fostering global learning together for a better and brighter future.”