National Bank of Pakistan(NBP) conducted Hajj-2019 Balloting for 25 employees (regular/contractual) (5 executives up to VP, 10 Officers up to Grade-I and 10 Clerical/Non-Clerical staff) for performance of Hajj-2019 on Banks expenses.
NBP president Mr. Tariq Jamali, presided/CEO over the Hajj Balloting ceremony along with other executives of the Bank. A large number of representatives of unions and NBP Officers Welfare Associations were also present on the occasion.
On this occasion, Mr. President Tariq Jamali congratulated all the 25 lucky employees who were declared Successful in the balloting and said that they were blessed by the Almighty Allah to perform “Fareezah Hajj”. He urged them to pray for the prosperity of the Bank and the country while visiting the holy places.
New units will improve exports and local fan’s industry: Mian Zahid Hussain
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Monday said that Gujrat is famous for its craftwork and cottage industries of various types like Pottery and Ceramic Goods, Furniture and Furnishers, Electrical Goods, Flower Pots, Artistic Handicrafts, Handmade Woollen Shawls, Handmade Woven Jerseys, Sweaters and Overalls. Products manufactured in over 1100 industrial units are highly demanded across the country.
The veteran business leader while talking to the business community said that 8 million fans are manufactured per annum in Pakistan for which almost 300 units are operating in Gujrat alone. Thousands of people are directly benefiting from this industry while approximately 1 lac people are employed in this sector indirectly. Pakistan’s daily fan’s production is 300 – 400 units while China manufactures 45 – 50 thousand units daily. Local production of fans needs to be enhanced in addition to globally accepted testing services, international certification and technology up gradation. New units in this sector will not only curb unemployment but will improve exports and will also strengthen this industry.
Gujrat has an excellent trade potential and its exports can boost significantly, if the issues and challenges faced by its trade industry as highlighted by Gujrat chamber of commerce and industry highlights from time to time need to be resolved on immediate basis. Government is required to immediately consider the recommendations of Gujrat chamber. To meet the skilled labour force requirement of local industry, training and vocational training centres need to be established in the city.
The former minister said Government and influential political figures of the city are required to take measures to help exporters and industrialist in increasing city’s exports. The double railway track project from Lahore to Peshawar would be completed under early harvest projects of China Pakistan Economic Corridor (CPEC) which will bring more convenience in country-wide transportation of industrial and trading products.
There is lot of potential to increase fan exports from Pakistan but to increase its share in the global export market, Pakistan’s exporters must find new markets like Malaysia and South Africa, and diversify into the production of industrial fans and disposable plastic fans to capture the richer consumer markets like the United States and Europe. China has a major market share in this segment.
UIT Holds Computing Expo 2019
Usman Institute of Technology (UIT) affiliated with NED University of Engineering & Technology, Karachi, has organized ’The Computing Expo’ exhibition held at the UIT Hall. The exhibition featured numerous ICT based projects from 1st and 3rd semester students. The exhibition was attended by Dr. Syed Zahir Ali, director UIT along with faculty, staff, members of the press and media.
The exhibition projects on display included 80 different projects. On the initiative undertaken by forward thinking educators- Mr. Shehroz Shamim, Mr. Talha Khan, and Mr. Zia Uddin. Students from Computer Science, Electrical Engineering and Software Engineering disciplines developed ICT projects for industrial implementation that will help to overcome societal issues.
UIT stated that – “By organizing the Computing Expo at its premises UIT students showcased numerous innovative technology projects that have been thought-out and built by 1st and 3rd semester students of the highly esteemed electrical engineering, computer science and software engineering departments of the institute. Moreover, keeping in light that these projects were created with limited resources, UIT is proud to be the beacon and guiding light for students to put their skills and knowledge to practical use. The institute works towards creating a marked difference in our students by preparing them to create jobs rather than finding jobs.”
NBP Funds inaugurates new Islamic Savings Center at North Nazimabad, Karachi.
NBP Fund Management Limited (NBP Funds) has inaugurated its 20th Islamic Savings Center at Block H, North Nazimabad, Karachi.
On the occasion, Dr. Amjad Waheed, CEO NBP Funds stated that North Nazimabad investors now have an opportunity to invest and save for their own retirement and children’s education and wedding. He also mentioned that mutual funds play an important role in improving savings and investment rates of the country which are at present very low.
NBP declares half-year profit on deposits
National Bank of Pakistan (NBP) has declared half-yearly profit for the period July to December 2018, on deposits of Profit/Loss Sharing, NIDA, Term Deposits, Premium Aamdani Certificates, NBP PLS Plus Term Deposit Certificate and NBP Premium Saver Accounts. The NBP has paid 4.50% percent profit, 5.50 percent, 6.50 percent and 8 percent profit, respectively on saving and NIDA accounts for different period from July to December 2018.
Similarly, for the term deposits, the bank has paid 4.5% – 9.8% profit depending on maturity of the accounts that ranged from three months, six months, one year, two years, three years, four years and five years. National Bank of Pakistan has paid the highest rate of profit on term deposits having more than five years’ maturity period. The maximum rate of profit for such deposits was 9.80 percent per annum.
Meanwhile, NBP has paid 6.65 percent, 7.80 percent and 9 percent profit on NBP Premium Aamdani Certificate for one year maturity period while the certificates having two years to five years attracted the higher rate of return in 2018. The bank has paid the highest profit of 12 percent per annum on NBP Premium Aamdani Certificates in 2018 for five-year maturity.
The bank also paid annual profit rates with payment at maturity on NBP PLS Plus Term Deposit Certificate. The investment in NBP’s certificates ranged from 0.5 million to five billion rupees with one year to 10 years maturity period. The certificates with 10 years maturity attracted the highest rate of return of 11.80 percent, 15.50 percent and 18.50 percent for different periods of time from July-December 2018. It was the highest amount of profit that the National Bank of Pakistan has paid to deposits having 0.50 million to five billion rupees deposits.
However, as per product policy, NBP announced 5.50 percent to 9 percent profit for the NBP Premium Saver Accounts having deposits up to one million rupees while deposits having more amount than one million rupees received 4.50 percent to 8 percent profit depending on their maturity timeframe.
Mini budget will bring better results on economic stability: Mian Zahid Hussain
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Thursday said that the mini budget presented by the Government is in fact the economic policy to correct the direction of economy. The bill provides several measures of policy makers to build supporting environment for investment, trade, industry and agriculture with increased profitability for the business community. To flourish investment in the Country, Greenfield investment and industrial units in special economic zones have been exempted from income tax for the period of five years in addition to exemption from regulatory duties on import of plants and machinery.
The Veteran Business Leader while talking to the business community said that alternate energy sector has also been exempted from taxes and duties in order to promote the cheaper means of energy and investment in this very important sector. Local and foreign investors will definitely attracted by the measures. Withholding taxes on trading in stock market has been waived off which will increase trade volumes and overall trading environment. Urea prices have been reduced by Rs. 200 per bag while taxes on components of diesel engines being used by farmers have been abolished which will benefit the agriculture sector.
The Former Minister said that small, medium and agriculture sectors have been given the incentives of easy loans as banks’ tax on loans to such sectors has been reduced to 20 percent from 35 percent, however, if direct benefit to these sector would have given it would draw much better impacts in terms of increased incomes and employment. RD on approximately 150 raw materials for the local manufacturing have been reduced which will benefit the manufacturing sector.
Mian Zahid Hussain said that simplified taxation system will be introduced on test basis in Islamabad and will be spread over the country which will definitely increase the tax base if gained the trust of small traders across country. Abolishing of withholding tax on banking transactions for filers is appreciative and encouraging for filers. Reducing tax on small marriage halls will ease the middle and lower middle classes. Increased taxes on luxury vehicles and mobiles will curb imports however will have least impact on majority. Monthly submission of withholding tax returns has changed to biannually which will provide ease to business community. Better impacts of this bill are yet to come in coming months. Exceeding imports against exports have played important role in current economic situation therefore, more incentives and facilities are vital for export sector, without which exports may not be increased.
METRO Pakistan wins OICCI Women Empowerment Award 2018
At an impressive ceremony organized by Overseas Investors Chamber of Commerce & Industry (OICCI), held on 12th December 2018 in Karachi, MCCPK proudly got recognized for the work done towards Gender Equality and Empowerment of Women. METRO Cash & Carry won the award for ’Leadership & Strategy’ – Women Empowerment Award 2018.
The recognition is for the work done towards Gender Equality and Empowerment of Women. The award was judged by an independent jury who vetted the performance of the companies from different angles and awarded the best performers in overall and in five other categories.
The ceremony was attended by a large number of CEOs, HR Executives and corporate professionals from different OICCI member companies, as well as diplomats and other distinguished guests.
JS Bank Supports Global Diversity Marketing Conference on Changing Trends: Challenges and Opportunities
JS Bank, one of Pakistan’s leading financial institutions joined hands with U.S. based consulting firm Global Diversity Marketing (GDM) to host a business conference titled “Changing Trends: Challenges, and Opportunities” at the Karachi Marriott. The event was well attended by business leaders, community leaders, entrepreneurs and professionals from all over the world. The conference highlights included speakers from the U.S. including President & CEO of Stratford University-Dr. Richard Shurtz, GAMA CEO-Bonnie Godsman, and GDM CEO-Tariq Khan.
“The purpose of this event was to provide a platform for learning and development for management and leadership training in Pakistan, using best practices developed in the U.S.” said Tariq Khan, Founder & CEO of GDM. “Based on the feedback from attendees, GDM will be back for another event in the very near future.” added Mr. Khan.
Other U.S. based speakers like GAMA CEO Bonnie Godsman and Stratford CEO Dr. Richard Shurtz echoed Tariq’s sentiment, adding that Pakistan offers great opportunities in a multitude of sectors including business and education. Commenting on the same, they stated that there is a plethora of options for collaboration between the private sector entities of both country’s and looked forward to leveraging these opportunities for future growth. They also spoke of the importance of private enterprise and how entrepreneurship has helped change the way the world works and interacts. They further went on to praise GDM’s efforts in packaging top level training programs from the U.S. into lesson plans customized for the local market.
GDM’s country representative in Pakistan Mohammed Asif Arif thanked all the speakers and attendees for insuring that the conference was a huge success.
By supporting such undertaking such innovative and business building events, JS Bank remains committed towards its role as a catalyst in the business ecosystem of Pakistan.
Jazz TV – Unlock Your Door To Entertainment
Jazz, the country’s leading digital communications company, has launched Jazz TV App for its customers available on both iOS and Android platforms. From binge watching favorite TV shows to streaming live sports, Jazz TV is designed to fulfill all entertainment needs on the go.
Pakistan is rapidly transforming into a tech savvy country. It is home to around 60 million smartphone users – while video consumption on smartphones has plummeted through the sky in 2018 and is expected to grow in the coming years.
The most popular TV app for Android and iOS, Jazz TV is designed to provide a smooth user interface and one-stop destination for Pay TV. The platform gives users unmitigated access to a vast variety of shows categorized into different genres namely from movies, entertainment, sports and music.
Jazz is working nonstop to digitize Pakistan and Jazz TV app brings it another step closer to achieve that goal. It is estimated that by 2020, mobile apps will generate up to USD189 billion globally in revenue via app stores. Studies claim that a whopping 91 percent of the worldwide population prefer to use self-service apps due to convenience. That is why Jazz is working hard towards digitizing the country as providing accessibility and convenience to its customers is Jazz’s number one priority.
Speaking regarding this initiative, Head of Marketing at Jazz, Kazim Mujtaba said, “Committed to constant innovation, Jazz is evolving and upgrading its services to expand user experience. Jazz TV is a premium service that caters to all customer entertainment needs on the go and enable users to stream 50+ live TV channels and watch their favorite shows.”
He continued, “Jazz remains committed to its cause and aims to provide customers with the best services in the country. Jazz TV is just another step towards our ambition to make Pakistan more digitalized.”
Jazz TV hosts multiple popular TV shows, which users can watch for free, using Jazz 4G data or Wi-Fi. It is a great way to catch up on some classics and live sports on the go. Currently Jazz TV is live streaming the Pakistan vs South Africa cricket series 2019. With its uninterrupted high quality video and adaptive streaming, it has a conglomeration of amazing features helping users stream more than 50+ licensed channels. Here is all you need to know about Jazz TV app features:
- Rewind live TV up to 7 days so you can relive your favorite pieces from a show.
- Record and share your favorite content.
- Picture in picture mode, so you can scroll while watching your favorite program.
- Onscreen controls for enhanced experience.
Jazz reducing electricity line losses with GSMA, CISNR and PESCO
Jazz, Pakistan’s leading digital communications company, has been awarded the prestigious GSMA Mobile for Development Utilities Innovation Fund, launched in June 2013 to test and scale the use of mobile to improve or increase access to energy, water and sanitation services.
The grant was awarded to Jazz’s for their “Energy and Line Losses Reduction in Pakistan” idea in collaboration with Centre for Intelligent Systems & Network Research (CISNR) & Peshawar Electric Supply Company (PESCO), which uses an indigenous solution developed by their partner, CISNR, to address the biggest issue being faced by local power distribution sector; line losses and electricity theft.
Jazz has been successful in securing the seed grant after an extensive evaluation and due diligence exercise carried out by GSMA among multiple organizations from various markets. Not only telecom operators but technology innovators and development organizations from Africa and Asian regions were part of the competition, as well.
“Empowering customers digitally is no small feat and requires constant reinvention and innovation. This is another commitment to that philosophy to address ease for masses as they access important utility services,” said Ali Naseer, Chief Corporate and Enterprise Officer – Jazz. He continued, “We have partnered with GSMA for Energy and Line Loss Reduction Solution in order to improve the overall power distribution sector.”
Jazz aims to ensure that the digitization of these utilities improved the quality of life for Pakistanis. The solution utilized the connectivity provided by Jazz to remotely monitor and manage distribution boxes, transformers and grid station feeders to ensure a more efficient and precise process that identifies points of failures, faulty lines and theft locations.
The seed fund is to be used to source and install the devices in selected subdivisions of PESCO. CISNR will be responsible for the device units (Transfocure and Electrocure), whereas infrastructure hosting and connectivity would be provided by Jazz. In addition to this, it will also address challenges such as load management at the transformer level and consumption wise distribution in order to optimize the distribution network.
Successful execution and scale through this grant will surely prove to be a strong case for all other distribution companies, which are still not able to come up with a standardized solution to address the on grid-power distribution issues in Pakistan.