Haleeb foods celebrates world milk day with SOS village Lahore
Haleeb Foods one of the leading food and beverages company of Pakistan celebrated World Milk Day with SOS Village Lahore. This celebration aimed to recognize the significance of Milk nutrition in daily lives. Under this initiative Haleeb Foods distributed packs of its most nutritious and deliciously flavored milk FLAVA among the children of SOS Village, Lahore.
Haleeb Foods also conducted an awareness session to highlight the health benefits of Milk, which promises valuable energy and vitality for the children. Being a rich source of calcium, it is essential for the human body to strengthen the bones and teeth. With the primary focus on nutrition, health and the wellbeing of its consumers, HFL emphasizes the importance of milk-consumption to ensure proper nutrition and enhance regular physical activity to achieve optimum health.
Expressing his thoughts on the World Milk Day Memosh Khawaja – CEO Haleeb Foods said, “World Milk Day, celebrations across the globe, is aimed at spreading awareness about the importance of milk consumption and its nutritional benefits. Milk is high in nutrition and is the primary source of nutrition in children. HFL intends to raise the awareness on the importance of milk as part of a balanced daily diet and in particular for the development of children.”
Farah Asim – Head of Corporate Communications at Haleeb Foods further added, “We partnered with SOS Village to raise awareness on how important milk is for healthy nutrition in Children’s life. SOS Village has contributed tremendously towards the development of children without parental care by providing holistic support. Partnering with SOS Village, Lahore for celebration of World Milk Day gives us the ideal platform to contribute in nurturing a healthier Pakistan.
PTCL launches flagship summer internship program 2019
PTCL has launched its Flagship Summer Internship Program 2019 known as ’Experia’, where only those candidates are selected who went through On-Campus Assessment Center conducted by PTCL.
Every applicant who undergoes the assessment center also receives a Customized Individual Assessment Center Report, which helps the young talent to know their strong and weak areas as a professional. It also acts as a feedback tool for identifying their areas of improvement and their future development. More than 600 applicants went through the rigorous process and 25 have been selected for this program.
During the internship duration, the Experians will be working on real-time business projects. They will also undergo a holistic learning program in various functions like Employee Health & Safety Initiatives, Corporate Social Responsibility Drives, Functional & Behavioral Competency Development, Organization Culture & Way of Work and Exposure to Leadership Teams.
On the occasion, Syed Mazhar Hussain, Chief Human Resource Officer, PTCL, said, “We are excited to welcome onboard all the selected candidates, who have made it this far. We look forward to provide them with a great learning experience at PTCL. I believe that the future of Pakistan depends on the grooming our young talent into future leaders. We have made concerted efforts as an organization at PTCL to embrace change and open doors to the best talent available in the country. We have evolved steadily and transformed into a digitally savvy organization and are moving in the right direction.”
Being a national company, PTCL believes in providing a diverse, progressive and enabling environment for the youth to develop their talent.
Year Book Presentation
NBFIs and modaraba companies must reject sales tax, support macroeconomic policies
Non-Banking Financial Institutions (NBFIs) and Modarabas must oppose and take notice on the sales taxes imposed on NBFIs and Mobarada companies considering them as services sector by the Government of Sindh in its budget, this sector is only providing financial support rather than services as assumed by the government. Whereas the Regulator are not observing their true power as laid in 1913 Act, this was stated by the chief guest Mr. Khalid Mirza, Chairman, Policy Board, Securities & Exchange Commission of Pakistan on the occasion of unveiling the Year Book-2018 of NBFI & Modaraba Association of Pakistan on Monday the 24th June, 2018 which was attended by senior officials from SECP, Pakistan Stock Exchange, State Bank of Pakistan, NBFI & Modaraba sector and executives from other financial sector.
He further added that NBFI & Modaraba help attain the objective of macroeconomic policies of creating more jobs in the country by promoting SMEs. He said that the Small and Medium Enterprises requirement and their volume the revenue of PKR 94 billion available by NBFI & Mobaraba Association will not cater SME need. We have to increase the available revenue to meet the requirement drastically.
Earlier Mr. Raheel Q. Ahmad, Chairman, NBFI & Modaraba Association while welcoming the chief guest and others, said that the core business of NBFI & Modaraba sector is SMEs, which is a backbone of Pakistan economy as this sector plays a significant role for economic development in the country. He said that NBFI & Modaraba sector is an active financier of SMEs and it has disbursed over PKR200 billion in the last ten years. The total number of investors in PSX is 231,793 whereas the NBFI & Modaraba sector have 86,473 investors, which comes to 37% of it. The sector has paid to their shareholders PKR10 billion during the last ten years. “Our focus is on the creation of employment, financial inclusion, women empowerment, SME financing. We have repeatedly raised our voice at different forums to include the NBFI & Modaraba sector in all the concessional schemes introduced by State Bank of Pakistan for SMEs so that the sector may play its due role in the growth of the SME sector.”
Ms. Mussarat Jabeen, Executive Director, SECP read the message from Chairman SECP Farrukh H. Sabzwari and said that leasing companies and Modarabas play an important part in the Non-Banking Financial Sector and believe that by developing a strong NBF sector we will not only promote savings by offering different asset classes to the investors but also provide alternative fund raising opportunities to the participants of the financial system. She added that that total assets of the leasing sector stand at PKR 10 billion, whereas the Modaraba sector is PKR 53 billion. This means that the total size of the leasing and Modaraba sector in Pakistan is approximately 0.18% of GDP, which is dismal.
In the said ceremony Best Performance Awards were also given to the best performers of the NBFI & Modaraba Sector during the year ended 30th June, 2018 by the Chief Guest. ORIX Leasing Pakistan Limited was adjudged the best performer and acquired first position while Allied Rental Modaraba secured second position. ORIX Modaraba and First Habib Modaraba were declared joint winner of the third position.
In conclusion, Mr. Basheer A. Chowdry, CEO Trust Modaraba and former Chairman, NBFI & Modaraba Association thanked the Chief Guest , senior officials of SECP, all CEOs of Leasing Companies, Modarabas and Invest Finance Companies and other dignitaries for participating in the launching ceremony of the Association.
JBS & 1Link sign contract for vmware based SDDC
Jaffer Business Systems (JBS) and 1LINK have partnered to enhance the overall infrastructure of banking sector with modern technology transformation. JBS solution will support 1LINK to maximize its security, enhance service availability and bring agility in network operations for all applications and services being offered to its client.
With this collaboration, 1LINK security posture will be upgraded via micro-segmentation and implementing always-on Active-Active Datacenter. JBS will support 1LINK in minimizing application downtime, resulting in customers getting more secure round-the-clock access on their banking transactions and improve from traditional networks to a modern industry leading Network Virtualization platform.
Veqar ul Islam, Director and CEO – JBS said: “We are committed to foster a culture of modern technical innovation so we can provide resilient and accessible solutions to our clients. What brings me joy is that due to this partnership, the direct benefit will be enjoyed by the millions of customers who use banking services in Pakistan.”
Mr. Najeeb Agrawalla – CEO, 1LINK stated: “1LINK is happy to partner up with JBS as its technology solution provider. We play a vital role in the financial industry and hence, strive to continuously adopt new technologies ensuring international service standards. With JBS support, virtualization capability will enhance 1LINK’s capacity while certifying quicker turn-around to manage increasing volumes.”
Jazz introduces eSIM technology with Gemalto subscription management platform
Jazz, Pakistan’s leading digital communications organization has partnered with Gemalto, an international digital security firm for the launch of the country’s first ever eSIM (embedded SIM) subscription management platform. The eSIM solution will offer subscribers who own compatible handsets the freedom to integrate multiple SIM card numbers directly into their phones or iOT devices, using the internet.
Jazz eSIM platform will also enable subscribers to switch between multiple subscriptions, download data plans, and remove old SIM profiles within the same device without having to physically switch their SIM cards. Jazz’s eSIM technology also works on a number of eSIM-enabled devices like Laptops, Tablets, Wearables and iOT devices and shall also result in compatible handsets likes iPhone XS, XR and XS max working as dual SIM Phones.
“Jazz is, and always will be, committed to ensuring that our consumers realize the full benefits and the true potential of eSIM enabled devices,” said Asif Aziz, Chief Commercial Officer at Jazz. “By partnering up with Gemalto, Jazz can provide our subscribers with easy real-time control which they can access anywhere and at any time. We pride ourselves as the pioneers of the digital revolution in Pakistan and as such we shall keep innovating our way to achieving our goals.”
“We are excited to work with the country’s leading mobile operator, Jazz, on this ground-breaking first launch of the Subscription Management platform. The implementation will drive forth seamless connectivity and an enhanced user experience to millions of users across the country, driving the digital transformation in Pakistan,” said Sherry Zameer, SVP Digital Identity and Security for CISMEA region at Thales (Gemalto). “We look forward to a successful and longstanding partnership with Jazz Pakistan, underpinning a commitment to innovation and the delivery of outstanding service.”
The rapid adoption of eSIM technology across the Middle East is a major factor contributing to realizing a new era of hyper-connectivity. Devices are growing more complex, yet easily attainable at an exponential rate. According to the GSM Association (GSMA), mobile connectivity will contribute a massive 4.8% of the world’s total GDP by the year 2023. This represents an economic value of roughly $4.8 trillion with 25.2 billion connections by 2025.
By partnering with Gemalto, Jazz can take advantage of the world’s most popular eSIM management platform across mobile operators, operator alliances, car manufacturers and mobile virtual network operators (MVONs).
Subscribers can digitally activate the SIM via Wi-Fi or visit any Jazz Business Center to register for the eSIM on their current number. After the registration, they will receive a QR code on a voucher, which is to be scanned under the phone’s settings. To promote this partnership, for a limited time, Jazz is offering eSIM activation free of charge.
Only the following phones currently support the eSIM – iPhone (XS / XS Max / XR) and Google Pixel 3 / XL.
Jazz and Coca-Cola in free unlimited mobile data offer
Jazz, Pakistan’s largest digital communications company, and Coca-Cola Company, one of the most popular beverages in the country have partnered to offer consumers a chance to win free unlimited data. This partnership focuses on heavy data users who prefer to livestream sports, especially during the ongoing Cricket World Cup, and surf the web on the go. This first of its kind offer is not limited to the ongoing Cricket World Cup, but will be available afterwards as well.
The Jazz branded Coca-Cola bottles, available at stores across Pakistan, provide consumers of the widely popular drink a chance to win unlimited Jazz Super 4G data by dialing in the code available at the back of each bottle’s label. Just dial *145*insert code# from the phone for a chance to win.
Commenting on this partnership, Head of Marketing at Jazz, Kazim Mujtaba stated, “This is the coming together of two giant brands to empower millions of people with free mobile data, especially during the ongoing Cricket World Cup. In a first of its kind initiative, Jazz offers Coca-Cola’s customers a chance to use Pakistan’s fastest mobile internet.”
“Coca-Cola is well known for its innovative and upbeat partnerships, and we are pleased to partner with Jazz for this campaign that focuses on users who love our brand and have acquired the lifestyle of digital nomads. While Coca-Cola is the official sponsor for ICC Cricket World Cup, it also pledges to offer its consumers with the best on-the-go experience this cricket season,” commented Abbas Arslan, Head of Marketing at the Coca-Cola Company, Pakistan.
Coca-Cola is one of Pakistan most favorite beverage with millions of customers, while Jazz is the country’s leading mobile operator serving about 60 million customers. The coming together of these two brands, after the success of the recently concluded Coke Festival powered by Jazz, showcases the mutually beneficial relationship these two enjoy.
Jazz is Pakistan’s largest digital telecommunication company. Serving over 58 million subscribers across the country.
Orientation Ceremony IBA Ihsan Trust Talent Hunt Program 2019
IBA to prepare 176 underprivileged students across Pakistan for admissions test
The orientation ceremony of IBA- Ihsan Trust National Talent Hunt Program (IBA-IT NTHP) was held at the Gani Tayub auditorium, IBA main campus. Attendees included faculty and administration members as well as representatives from Ihsan Trust.
IBA-IT NTHP is a fully funded two-month orientation training program, jointly financed by Ihsan Trust and IBA Karachi. The program initiated in 2004 and aims to eradicate the educational inequality in Pakistan by providing educational opportunities to underprivileged students from Baluchistan, Khyber Pakhtunkhwa & FATA, Gilgit Baltistan, Punjab, Sindh and Azad Kashmir, in order to prepare them for the Institute’s admission processes of BBA and BS degree programs. The orientation aims to inculcate both soft skills as well as academic knowledge in students to ensure that they are groomed for their future careers.
The ceremony commenced with the recitation of the holy Quran by alumna NTHP Program Ramsha Yaseen. A welcome speech was given by Director THP Program Dr. Zeenat Ismail, who welcomed and announced the batch of 2019, which comprises of 176 students out of which 123 are boys and 53 are girls. These students belong to 69 different districts in Sindh, Baluchistan, KPK, Giligit Baltistan and Sindh.
Addressing the students, General Manager Administration IBA Amir Shabbir emphasized on the discipline of IBA and its core values.
Prominent NTHP alumni including Rabia Basri, Nadeem Hussain and Ramsha Yaseen shared their success stories and praised the program for transforming their lives for the better.
SEVP Ihsan Trust Ahmed Ali Siddiqui highlighted the importance of making use of this excellent opportunity provided by NTHP. Mr. Siddiqui said that, “Being selected here is the first step, there are numerous steps ahead and you should prepare yourself for them”.
Executive Director IBA Dr. Farrukh Iqbal highlighted the three main challenges that educational progress faces in Pakistan; awareness, preparation and finances – all of which the IBA is striving to address through the NTHP Program. He also emphasized on the importance for such programs, to bridge the economic inequality in Pakistan.
Other keynote speakers included Acting Vice Chancellor, University of Karachi Prof. Dr. Khalid M. Iraqi, Advisor to Akhuwat Syed Hussain Hyder and GM Ihsan Trust Fayyaz Ur Rehman. Furthermore, faculty members leading the program were also introduced and the session culminated with a campus tour for all the students. Dr. Iqbal presented the keynote speakers with tokens of appreciation.
CEJ-IBA hosts open house for masters in journalism program
The Centre for Excellence in Journalism at the Institute of Business Administration, Karachi (CEJ-IBA) conducted its second Open House session for the Masters in Journalism (MSJ) program which was attended by prospective students from various backgrounds.
Member of CEJ Advisory Board, Dr. Lawrence Pintak briefed the attendants about the 1.5-year MSJ program, the curriculum being offered, and how it stands out amongst all other programs of its kind in the country.
During the session, lecturer at CEJ, Shahzeb Ahmed emphasized the changes the media industry has gone through in the last five years, and further highlighted how the skills the students will learn in the MSJ program will help increase their employability prospects.
The session concluded with an interactive question and answer session with Dr. Pintak.
AL Baraka Bank opens branch at Malir cantonment
Al Baraka Bank (Pakistan) Ltd last Wednesday opened a branch at Malir Cantt, Karachi. Al Baraka is a dedicated Islamic Bank offering a host of Shariah-compliant products and services for Retail and Corporate customers. With the opening of this branch, Al Baraka Bank’s branch network has now reached over 190 branches across 97 cities and towns of Pakistan.
The Malir Cantt. Branch was inaugurated by the CEO Al Baraka Bank, Mr. Ahmed Shuja Kidwai; Deputy CEO, Mr. Nadeem Amjad Khan; Head of Retail Banking, Mr. Syed Kazim Raza and Regional Distribution Head South, Mr. Atif Ghouri along with other senior officers of the bank along with its distinguished customers.
Speaking on the occasion, the CEO said, “Al Baraka is committed towards promoting Islamic Banking in Pakistan by offering Shariah-compliant products and services to suit its customers’ needs. Opening of branches is just one of the many initiatives the bank has taken to enhance the outreach of Islamic Banking in Pakistan. We strongly believe in partnering with our customers and strive to build long term customer relationships.”
Al Baraka Bank Pakistan is part of the Al Baraka Banking Group, a leading International Islamic Banking Group with an authorized capital of US $2.5 billion. The group has a wide geographical presence in the form of subsidiary banking units and representative offices in 17 countries, which in turn provide their services through over 700 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Saudi Arabia and Morocco, in addition to a digital bank in Germany, two branches in Iraq and two representative offices in Indonesia and Libya.
Experts propose solutions to Pakistan’s economic woes at ACCA’S post-budget conversation
The Association of Chartered Certified Accountants (ACCA) Pakistan organised a high profile post budget conversation “The Budget 2019-20: Opportunities and Challenges for Economic Reforms” in Islamabad to provide a platform to business community and thought leaders to propose key economic reforms and share their feedback and recommendations on the proposed Finance Bill 2019-20.
The conversation was opened by Sajjeed Aslam, head of ACCA Pakistan. In his speech, he summarised the budget recommendations submitted by the global body for professional accountants and shared actionable recommendations toward making the current taxation regimen more transparent, efficient and progressive to meet country’s economic and social needs. He emphasised that the focus should be on human development and progress in the country and not merely on improving a few macroeconomic indicators. He stressed on the importance of professionalism and ethics for talent in the public sector.
“Budget is a subset of economy. You can never have a good budget unless you correct the flaws in your economic model and bring radical reforms. Economies are built by the people, without investing in the human resource, prosperity can never be achieved,” said Sajjeed Aslam.
The event featured an insightful panel discussion with contributions from prominent policy makers, senior bureaucrats, tax consultants, influential thought leaders and senior ACCA members. Notable speakers included Dr Abid Qaiyum Suleri, Executive Director, SDPI, Zia-Ul-Mustafa, President, ICMA Pakistan, Salman Amin FCCA, Senior Energy Professional, Hassan Daud Butt, Project Director-CPEC, Zafar-ul-Hassan, Chief Macro Economist, Ministry of Planning, Development and Reforms and Omer Zaheer Meer FCCA, Chairman, ACCA Pakistan Member Network Panel.
“To solve our circular debt crisis, we need to work on improving the performance of our public sector enterprises and should encourage those who’re buying dollars to invest in conventional savings and investment products. Also, rationalisation of slabs in the gas tariffs is necessary,” said Dr Abid Qaiyum Suleri.
The Conversation Leaders commented that to truly solve Pakistan’s current economic woes and to meet its social challenges, it’s imperative to work on increasing the size of the economy and to aim at a higher average annual GDP growth rate compared to what is predicted in the budget document. The panel also pointed out that the Finance Ministry and the Planning Commission of Pakistan are working on two different GDP growth forecasts and both are approved by the Prime Minister’s office. Moreover, the twelfth Five-Year plan (2018-23) should be publically debated and should serve as the base for a charter of economy with an across-the-board political consensus.
The speakers agreed that the underlying philosophy of the proposed budget is a right step toward a documented economy and broadening of the tax base. There was a general consensus that tax collection of over PKR 5.5 trillion is a realistic reflection of the potential even within current economic scenario. However, in its current form, it may not appear to pass the test of fair and equitable tenants of taxation on account of minimum tax regime.
The twin fiscal deficit will continue to challenge us, and may need innovative and bold steps by business community and the government to truly drive an inclusive and accelerated growth. The current growth targets and development budget are not consistent with our installed energy capacity, infrastructure projects committed and objectives of industrialisation phase under China-Pakistan Economic Corridor (CPEC).
Participants of the conversation urged the government and the Federal Board of Revenue (FBR) to take concrete steps toward the simplification of the tax filing system by moving to automation. Advocacy programmes at grass root level to create support and awareness for government’s initiatives should also be explored. It was also expressed that the current monetary policy is a hurdle in the way of industrialisation and growth. It was agreed that the trust deficit between business community and Federal Board of Revenue (FBR) needs to be bridged to improve tax collection.
It was concluded that Pakistan has a deficit of trained professional accountants and legal practitioners to support over 95,000 businesses and potential 5 million tax filers to help them with developing an ethical mind-set and full compliance with the tax regulations to support country’s economic progress. The dearth of right talent is one of the biggest impediments in the way to achieving our growth potential.
The event was attended by a large number of business leaders and professional accountants and offered them a good opportunity for networking and knowledge sharing.