The Sui Northern Gas Pipeline Limited (SNGPL) has been on the frontline in the battle against gas theft in Islamabad. With over 34 individuals facing the consequences of their illicit activities, the company’s commitment to eradicating this menace is evident. The collaboration between SNGPL and law enforcement agencies showcases the gravity of the situation and…
In a ceremony held at Rescue Headquarters located in Lahore, Mr. Ahmet Kursad Ertin, Regional Director (SAME) – CCI Pakistan (Coca-Cola Beverages Pakistan Limited) and Dr. Rizwan Naseer Secretary Emergency Services Department, inaugurated a new water filtration Plant installed for the local community. The ceremony was joined by the senior management of the company along…
easypaisa and foodpanda have joined hands to introduce seamless payment options for customers. Users will now be able to pay for their orders directly through their easypaisa wallet. This partnership empowers millions of easypaisa customers to conveniently order meals from the foodpanda app and make payments directly from their easypaisa mobile accounts. The integration of…
In a momentous event, Abdul Razak Dawood, the Founder of Descon, along with Faisal Dawood, Vice-Chairman of Descon, marked a significant milestone in the company’s journey towards agricultural innovation. The occasion celebrated the groundbreaking ceremony of Blume Agri, a PKR one billion pioneering venture that promises to significantly contribute to the Pakistani agriculture landscape. Mr….
Summit Bank Limited on Tuesday convened its Extraordinary General Meeting (EOGM), where the shareholders granted their consent on the name of the Bank to be changed from ‘Summit Bank Limited’ to ‘Bank Makramah Limited’. This name change follows the recent acquisition of a controlling stake in Summit Bank by prominent UAE investor, H.E. Nasser Abdulla…
Visa the world’s digital payments leader has officially inaugurated its new office in Pakistan. Visa’s expanded on-ground presence in Pakistan is a testament to its commitment to supporting the company’s financial institution and merchant clients, local government partners, investments and local communities as part of continued efforts to drive digitalization of the payments landscape. With…
The recent decision by the US Federal Reserve to raise interest rates to the highest level in 22 years has sent ripples of concern through the world’s largest economy. The move comes as the Fed aims to stabilize prices and tackle the persistent issue of inflation that has plagued the nation. Since early 2022, the…
The recent announcement of a massive awareness campaign by Securities and Exchange Commission of Pakistan (@SECPakistan) and the Pakistan Telecommunication Authority (@PTAofficialpk) targeting illegal loan apps has sparked criticism from various quarters. Some believe that this approach could inadvertently exacerbate the problem by promoting the idea of obtaining loans through mobile apps. Starting from this…
Dubai, UAE – In an unprecedented move that signals a transformation in the financial landscape, Rabah Al-Nasseri, co-founder of The Cryptoverse, is delving into the prospects of digital finance growth and exploration in Abu Dhabi for 2023. With an eye on the burgeoning market, Al-Nasseri is seeking to establish The Cryptoverse as a pioneering force…
Ariba Shahid, a Pakistan correspondent for Reuters, recently shared a series of tweets discussing the challenges faced by startups and their potential impact on the economy. In her first tweet, she acknowledges that startups often fail, especially considering the current global funding crunch and the less-than-ideal local economy. Startups fail. We're in a global funding…
A recent Twitter by Zubair Ahmed Khan has shed light on a concerning issue of businesses issuing non-FBRPOS (Federal Board of Revenue Point of Sale) invoices, indicating potential tax evasion and open tax theft. Zubair Ahmed Khan shares his encounter with Pizza Hut in Islamabad, where he claims they responded confrontationally and admitted to issuing…
Islamic banking has gained popularity worldwide for offering financial services in compliance with Islamic principles. One aspect that sets Islamic banks apart is their adherence to Shariah law, which prohibits certain practices, including the charging or receiving of interest. While Islamic banking offers numerous advantages, it’s essential to be aware of certain limitations when it…
Public Private Partnership Unit, Government of Sindh (PPPU) and InfraZamin Pakistan Limited (IZP), are pleased to announce the signing of a Memorandum of Understanding (MOU) to provide local currency guarantee solutions for infrastructure projects in Sindh under the Public-Private Partnership Mode. The aim of this collaboration is to foster economic and social development activities by…
ABHI, a growing embedded finance platform, was selected among hundreds of companies as one of the World Economic Forum’s “Technology Pioneers”. Providing innovative finance solutions to over 450 businesses and their employees, ABHI is the first in the business from the MENAP region to receive the recognition. The World Economic Forum’s Technology Pioneers program recognizes…
Descon Oxychem Limited, a leading global chemical manufacturer, proudly announces the achievement of the prestigious UN Mark certification for its product packaging. The UN Mark is an internationally recognized standard established by the United Nations, highlighting the company’s commitment to ensuring the highest safety standards for the transportation of goods in international markets. The UN…
Savyour, the pioneering cashback app from Pakistan, today marks a significant global breakthrough with the launch of ‘Savvy’; the world’s first AI-based assistant featured within the cashback app. This revolutionary feature adept at handling everyday shopping inquiries and directing users towards the most rewarding cashback options based on their location. It sets Savyour apart as…
TPL Life Muavin, Pakistan’s first virtual earning and learning platform, continues to grow and reach a new milestone of surpassing 60,000 potential life insurance agents registering onto the portal. This is in line with TPL Life’s vision of enabling Pakistan & every Pakistani digitally, ensuring that economic activity is intrinsic at every step of financial…
Pak Suzuki Motor has made an urgent appeal to the government to refrain from imposing any new duties and taxes in the upcoming federal budget. Additionally, the company is requesting a reduction in existing duties and taxes, specifically for vehicles up to 1000cc, to ensure the minimal survival of this segment and support the masses….
In recent years, it has become evident that Pakistani banks have a strong affinity for investing in government bonds. This trend has raised questions and sparked discussions about the reasons behind such a preference. To shed light on this matter, we will explore the factors that contribute to Pakistani banks’ inclination towards government bonds and…
Pakistan is facing a challenging situation in the wake of stagflation and acute balance-of-payments crises. The country needs significant additional financing to complete the long-stalled ninth review of the International Monetary Fund’s (IMF) bailout package. On Thursday, during a scheduled press conference, the IMF stated that the commitments of “significant additional financing” are essential before…
Unilever Pakistan hosted an interactive dialogue to discuss the importance of living wages in Pakistan. The session focused on the benefits of fair pay and living wages to businesses, communities, and the country. A living wage accounts for the diverse lifestyle needs of a person in line with their present economic realities so they can…
BankIslami Pakistan Limited (‘the Bank’ or ‘BankIslami’) announced its financial results for the quarter ended March 31, 2023, with an impressive increase of 262% in profit before tax, reaching Rs. 3.16 billion as compared to Rs. 0.87 billion for the corresponding period of the previous year. The profit after tax closed at Rs. 1.79 billion,…
Investing in Pakistan can be a daunting task for Pakistani expats living abroad, despite the fact that they have a deep attachment to their homeland. In the ProPakistani latest podcast, titled “Why Pakistani’s Abroad Struggle To Invest In Pakistan?”, the guest speaker, Tanweer Ahmed, delve into the reasons behind the struggles faced by Pakistani expats…
Pakistan has submitted a revised external financing plan to address a $5 to $6 billion funding gap by the end of June 2023 and requested the International Monetary Fund (IMF) to agree on a staff-level agreement as soon as possible. According to media sources there are differences between the IMF and Pakistani authorities over the…
With the story out that some officials had accessed the National Data Base Registration Authority’s database to seek personal information of the family of the Chief of Army Staff General Asim Munir Shah, questions are being raised about other institutions that have access to the same data, and what have they done to flush out…
Pakistan’s leading food and grocery delivery platform, foodpanda, is proud to announce its partnership with The Citizens Foundation (TCF), a non-profit organisation dedicated to promoting education for less privileged children in the country. Through this partnership foodpanda aims to support TCF’s numerous initiatives by raising awareness about their cause and encouraging donations from foodpanda’s customers….
In September, another fire incident at the MOL Pakistan-operated Makori oil field resulted in the loss of millions of dollars due to negligence. About six months have gone, and the event has not yet been reported to the appropriate authorities. The silence of relevant authorities has raised several questions. The fire event occurred in the…
Pakistan’s energy sector has received a significant boost with the recent announcement that gas supply from the Sindh field has doubled. This news comes at a crucial time when the country is grappling with a severe energy crisis that has had a profound impact on the lives of its citizens. The Sindh field, operated by…
In an environment wrought with economic challenges and deteriorating living standards, Pakistan Bureau of Statistics gave us hope as it inaugurated the self-enumeration portal. The portal is one of many technological innovations stitched together to digitize the census process in Pakistan, bringing it at par with those developed nations that conduct their census using technology…
An entrepreneur by passion and a leader by nature – M. Mubusher Hayat is a role model for perfection, and a paragon of compassion for those striving to climb the ladder of success. The visionary with a Midas touch in real estate continues to build a lasting legacy through a series of breakthroughs, ultimately setting…