foodpanda and Government of Gilgit Baltistan joins hands for strategic alliance

foodpanda, the leading food delivery platform and e-commerce company in the country, recently signed a Memorandum of Understanding with Government of Gilgit Baltistan to bring forth economic empowerment in the region. A signing ceremony took place at foodpanda headquarters in Karachi whereby Hussain Shah, Minister of Information Technology and Special Assistant to Chief Minister from Government of GB, and Nauman Sikandar, CEO foodpanda along with other dignitaries were present.

Under the MoU, both the parties will be working together to generate economic opportunities for the masses. foodpanda shall accelerate its operations in GB through different verticals such as restaurants, pandamart, shops, etc., and government of GB will facilitate this expansion by creating a favourable business environment.

While sharing his views, Nauman Sikandar, CEO foodpanda, said, “We are accelerating our actions to economically empower people of GB by expanding our services via restaurants, shops, homechefs, pandamart and panda kitchens. This will not only enable people to earn a respectable livelihood but will also create financial and digital inclusion for the people of GB. We will utilize our extensive reach and network to create awareness and highlight this initiative #MYGB to mark our commitment towards this cause.”

Read More: Foodpanda Celebrates Its Riders By Unveiling The Vibrant New ‘Rider Kit’

Also expressing his views Hussain Shah, Minister of Information Technology and Special Assistant to Chief Minister Gilgit Baltistan said “I am thankful to foodpanda for promoting economic empowerment and extending their services for the cause. Our people are extremely hardworking and they deserve lucrative opportunities which foodpanda has to offer. We will ensure smooth expansion of the company through our IT Ministry and shall provide assistance to foodpanda in terms of internet infrastructure, acquisition of lands and any other local requirements. We will also make our lock produce such as meat, dry fruits, minerals and the likes available on pandamart for this strategic partnership.”

KU signs MoU with NOWPDP to empower differently-abled students

The University of Karachi and the Network of Organizations Working for People with Disabilities in Pakistan on Thursday signed the memorandum of understanding (MoU) to empower differently-abled students through educational and employment opportunities.

According to the MoU, both parties would initiate a partnership for Pakistan and American Sign Language training programs. They have also agreed to build the capacity of organizations and institutions to achieve disability inclusion and collaborate to organize events for persons with disabilities to celebrate them and their achievements.

The KU and the Nowpdp would also work together in conducting sensitization training of teachers and students and differently-abled students would be enrolled from the University of Karachi for skill development and special education program.

The KU Vice Chancellor Professor Dr Khalid Mahmood Iraqi and the President Nowpdp Amin Hashwani inked the MoU documents at a local hotel. The members of the KU Student’s Advisory Council were also present on this occasion.

Amin Hashwani briefed the KU delegation about the objectives and achievements of the Nowpdp and their plans to expand the working field with collaboration with the University of Karachi.

The KU VC Professor Dr Khalid Iraqi informed the Nowpdp members that the University of Karachi has been offering free-ship to differently-abled students and also conducting various activities on the campus for their wellbeing.

Amin Hashwani and Professor Dr Khalid Iraqi hoped that the collaboration of the Nowpdp and the KU would produce better results for the society and would provide a solid platform for the differently-able persons.

realme Sales Volume Reached 60 Million Units Globally in 2021

Aiming to break into the premium segment, Founder and CEO Sky Li pens an annual open letter for 2022:

As 2021 has come to a close, realme, the fastest-growing smartphone brand, has just released its annual open letter looking back on a breakthrough year. realme cemented its position as a mainstream global smartphone brand, ranking 6th overall in terms of shipments. realme Founder and CEO Sky Li penned an open letter to chart the immediate future for the company as it builds on the momentum in 2022.

realme became the fastest smartphone brand ever to ship more than 100 million smartphones globally in August 2021. Following this record-breaking achievement, realme’s annual smartphone sales volume has reached a record high of 60 million units, which increase 50% over the previous year.

Already a Top 5 brand in 21 different markets, realme aims to develop its mature ecosystem to cater to global users. The emerging company has built on its strong 5G foundation, expanding its role as a 5G Democratizer globally and becoming the fastest-growing 5G Android brand in Q3 2021.

In Pakistan alone, realme is heading into 2022 with a sales-first approach. At the turn of the year, the company signed up with three leading distribution partners such as Airlink Communications, United Mobile and M&P which underscores Pakistan’s significance for realme and our growth outlook and demand.

These opportunities powerfully presented realme’s growth and progress in 2021, enabling it to look even further and higher in 2022. As a trendsetter amongst global brands, realme has aligned its brand values with its user base to enable them to leap into the future with confidence.

“We will pursue ever greater innovations in technology and design to break into the Premium Segment with 70% of the company’s R&D resources focusing on high-end tech” says Sky Li. realme is keeping its commitment with its first-ever premium flagship – realme GT 2 series.

Watching events unfold throughout the year, 2021 was a strong year for realme. realme will continue to engage more young people to share the company’s core value of “Dare to Leap”. 2022 will be a brighter year, collectively and individually.

CEO Careem sets up scholarship endowment fund at IBA Karachi

Mr. Mudassir Sheikha, Co-founder and CEO of Careem, the MENAP region’s everyday Super App, has partnered with the Institute of Business Administration (IBA) Karachi to offer scholarships to 10 deserving students each year through the Sekha Endowment Fund.

The Fund will ensure that successful graduates in the fields of artificial intelligence, big data, computer science, and related emerging fields enter Pakistan’s talent pool and contribute to the growth of the economy.

The IBA is grateful to Mr. Mudassir Sheikha for supporting the Institute in its mission of providing quality education to the youth of Pakistan. To ensure inclusivity, the IBA, through its financial assistance program, supports approximately 30% of its student body every year.

A pioneer of the region’s ride-hailing economy, Careem provides a host of daily services that people need to move around, to order things, and to transfer money in one unified smartphone app. Careem’s goal is to simplify people’s daily lives so that they can spend their precious time and mindshare on things that really matter and on realizing their potential.

Housing & construction finance increases by record Rs163 billion under Neya Pakistan Housing Scheme

Recording an unprecedented growth of 85%, banks’ outstanding credit for housing and construction increased by Rs163 billion, from Rs192 billion to Rs355 billion, during 2021. Within the housing and construction portfolio, disbursements under Government Markup Subsidy scheme, also known as Neya Pakistan Housing Scheme, increased by Rs38 billion.

Financing to Housing and Construction and particularly under MPMG has witnessed impressive growth on the back of many enabling regulatory environments introduced after extensive consultation with stakeholders. Further, SBP also advised the banks to increase their housing and construction finance portfolios to at least 5% of their domestic private sector advances till December 2021, introducing a set of incentives and penalties to ensure compliance.

In the significant growth of Housing and Construction finance, Habib Bank, Meezan Bank and Bank Al Habib were the top three contributors. Banks also made significant progress in the provision of financing under MPMG scheme, introduced in 2020. Financing under MPMG picked up momentum in 2021 as approvals for financing by banks grew from near zero to Rs117 billion in 2021.

The banks have received requests of financing of Rs276 billion from potential customers, which indicates that approvals and disbursements will keep growing in coming months. Bank Alfalah emerged as the leading bank with highest disbursement of Rs3.3 billion followed by nine banks with disbursements of over Rs2 billion each. These include Meezan Bank, Bank Islami, National Bank, Standard Chartered Bank, HBFCL, United Bank, MCB Bank, Bank of Punjab and Habib Bank. To learn more about MPMG please see.

https://www.sbp.org.pk/MPMG/index.html

SBP has taken a number of steps to create an enabling regulatory environment for banks to increase flow of financing to housing sector. Key initiatives include allowing acceptance of third party guarantee during the construction period, waiver of Debt Burden Ratio (DBR) in case of informal income and the introduction of standard facility offer letter by the banks. State Bank has also advised banks to develop and deploy income estimation models for borrowers with informal sources of income.

In addition to gauge readiness, knowledge and appropriate behavior of banking staff towards MPMG customers, State Bank is conducting regular mystery shopping surveys of bank branches all over the country. In line with initiatives of State Bank, banks have standardized and simplified loan application forms.

Pakistan’s fruit exports up by 27.69pc, vegetable exports surge 31.47pc

The country earned $177.316 million foreign exchange by export of fruits whereas the vegetable exports went up to $101.423 million during the first five months of ongoing fiscal year.

ISLAMABAD (APP): The exports of fruits from the country increased by 27.69 percent during the first five months of the current fiscal year as compared to the corresponding period of last year.

The exports of fruits during July-November (2021-22) were recorded at $177.316 million against the exports of $138.859 million in July-November (2020-21), showing growth of 27.69 percent, according to the date of Pakistan Bureau of statistics (PBS).

Meanwhile, the vegetable exports from the country also went up by 31.47 percent by increasing from $77.146 million last year to $101.423 million during the ongoing fiscal year.

On year-on-year basis, the fruit exports from the country increased by 62.35 percent by going up from $20.758 million during November 2020 to $33.700 million in November 2021.

On month-on-month basis, the fruit exports, increased by 15.25 percent in November 2021 when compared to the exports of $29.242 million in October 2021, the PBS data revealed.

The vegetable exports on year-on-year basis, also surged by 228.77 percent by going up from $10.119 million in November 2020 to $33.269 million in November 2021.

On month-n-month basis, the exports of vegetables increased by 84.09 percent in November 2021 when compared to the exports of 18.072 million in October 2021.

The overall food exports from the country increased by 26.68 percent during the first five months of current year compared to last year.

The food exports from the country were recorded at $1947.414 million during July-November (2021-22) against the exports of $1537.317 million during July-November (2020-21).

It is pertinent to mention here that the country’s total goods’ witnessed an increase of 26.68 percent during the first five months of the current fiscal year (2021-22) as compared to the corresponding months of last year.

The exports from the country stood at $12.344 billion during July-November (2021-22) against the exports of $9.744 billion recorded during July-November (2020-21), showing growth of 26.68 percent.

On the other hand, the imports during the months under review also went up by 69.17 percent by growing from $19.468 billion last year to $32.934 billion in July-November (2021-22).

SECP issues a Guidebook for formation and licensing of NBFC

In order to facilitate the prospective investors of Non-Banking Finance Sector and as part of its objective to promote ease of doing business, the Securities and Exchange Commission of Pakistan (SECP) has issued a procedural guide on formation and licensing of Non-Banking Finance Companies (NBFCs).

Available on the SECP’s website, this guidebook provides comprehensive information on the procedure for formation, incorporation and licensing of the NBFCs, applicable fees, important pre-requisites, reference to the relevant legal provisions, forms and formats.

The Guide covers applicable requirements for formation and licensing of Fund Management NBFCs as well as Lending NBFCs. Fund Management NBFCs provide services including Asset Management, Investment Advisory, REIT Management, Private Equity & Venture Capital management and Pension Fund Schemes. Lending NBFCs provide services including Investment Finance Services, Discounting, Housing Finance, Microfinance and Leasing.

By consolidating all the applicable requirements at one place, the Guidebook would make it easier for the prospective investors to understand and comply with the applicable regulatory regime.

The guidebook can be accessed at https://www.secp.gov.pk/document/procedural-guide-on-formation-and-licensing-nbfcs/?wpdmdl=43780&refresh=61cd43eeda8511640842222.

Press Release 16th Karachi International Book Fair

16th Karachi International Book Fair begins from

Thursday, 30^th December 2021

Over 330 stalls will be on display, with over 400,000 expected visitors

The Managing Committee of Karachi International Book Fair (KIBF) has revealed at a press conference that besides 136 leading publishers and booksellers from Pakistan and, 40 exhibitors from 17 countries will participate in the 16^th Karachi International Book Fair (KIBF) from 30^th Dec’21 to 3^rd Jan’22 in the three halls 1, 2 & 3 at the Karachi Expo Center. The five-day 16^th Karachi International Book Fair 2021 is organized by the Pakistan Publishers and Booksellers Association.

Education Minister of Sindh Syed Sardar Ali Shah, the Chief Guest will inaugurate the Book Fair on 30^th December 2021. Renowned artist & writer Anwar Maqsood will be the Key note Speaker at the event. Karachi International Book Fair has now achieved the distinction of being Pakistan’s largest consumer/trade fair since its inception in 2005. The event brings together publishing and distribution houses, domestic / international publishers, booksellers, librarians and institutional customers on a single platform. Publishers from Iran, India, Turkey, Singapore, China, Malaysia, England, UAE and other countries are attending the international event. Karachi International Book Fair has become a remarkable literary event with educated and motivated visitors from all walks of life. More than 330 stands shall display books on all subjects to discerning readers including vast numbers of families, students and book lovers from all over the country.

These views were expressed by Convener 16^th KIBF, Mr. Waqar Mateen Khan and Mr. Aziz Khalid, Chairman of Pakistan Publishers and Booksellers Association while speaking at a press conference, held at a local hotel here on Tuesday, 28 December, 2021.

Mr. Waqar Mateen Khan expressed his gratitude to the publishers and booksellers for their participation in the fair and the Managing Committee for their untiring efforts to make this event possible. He hoped that, this year as in the, past record breaking number of visitors shall participate in the 16^th Karachi International Book Fair.

Mr. Aziz Khalid Chairman, Pakistan Publishers and Booksellers Association (PPBA) stressed that this edition will be remarkable and distinctive as efforts are being made to establish effective working relationships with key international book fairs leading towards an exchange of professional expertise for highlighting the importance of book fairs at national and international level. “Fairs are not only book exhibits any more, international book fairs are very important forums not only for publishers but also for the government agencies/missions as an effective tool for diplomacy”, he elaborated. “Also underlined is the commitment to the propagation of knowledge by highlighting the values of humanism and ethics that promote tolerance, discussions and openness to others in a civilized society.”

KIBF aims to motivate the nation’s youth and students to take part in cultural and creative activities to strengthen their role as pillars of an intellectually, scientifically and culturally flourishing future.

He reiterated that “Around 400,000 people are expected to visit the 16^th KIBF. The event will be visited by book lovers, students from all groups and ages, professionals from all walks of life, academicians, writers, librarians and general public. Various book launchings and book release ceremonies will also be held for notable writers during the fair besides entertaining various contests like drawing, recitation, extempore speech, and quizzes for kids.

Karachi International Book Fair timings are 10 am to 9 pm daily from Thursday, 30 December,2021 till Monday, 03 January, 2022. Deputy Convener Syed Nasir Hussain, Nadeem Mazhar, M. Iqbal Ghaziani, Iqbal Saleh Mohammad,Nadeem Akhtar, Kamran Noorani, Owais Mirza Jamil and Saleem Abdul Hussain also attended the Press conference.

The 16^th Karachi International Book Fair begins on Thursday 30^th December with doors opening to the public at 10:00 am.

Mohammad Abid Zubair Khan

(Media Coordinator KIBF)

0322 – 2262079

SECP adopted method of regulatory guillotine to review old regulations: Aamir Khan

The Chairman Securities and Exchange Commission of Pakistan (SECP), Aamir Khan said that documentation of the economy is vital for economic progress and building a vibrant corporate sector. SECP has adopted the method of regulatory guillotine to review and simplify old regulations and eliminate those that are no longer needed. It results in economically-significant regulatory cost reductions for businesses. Mr. Khan made these comments at the inauguration of SECP’s facilitation desk at Lahore Tax Bar, the first of its kind at any Tax Bar.

In his address, Chairman SECP appreciated the proactive approach of Lahore Tax Bar Association in establishing the facilitation desk, that will help in redressing the practical problems faced by the business community concerning company law. Mr. Khan also briefed the participants about numerous reforms introduced by SECP to promote a healthy corporate culture, including digitalization and standardization of company incorporation process and integration with other government agencies, which have resulted in 51% growth in new incorporations during FY 2020-21.

Mr. Mubashar Saeed Saddozai, the Registrar of Companies, informed the participants that the facilitation center will provide requisite assistance to promoters of new companies as well as management of existing companies, and hoped that such outreach measures will further improve the overall user experience for the public.

PITB, BoR KPK sign MoU to implement e-Stamping system in KPK

Lahore: Punjab Information Technology Board (PITB) and Khyber Pakhtunkhwa (KPK) Board of Revenue (BoR) have signed a Memorandum of Understanding (MoU) for the implementation of e-Stamping System in KPK at an event held at Arfa Software Technology Park.

PITB Chairman Azfar Manzoor, Senior Member KPK Board of Revenue Syed Zafar Ali Shah and KPK Additional Secretary Finance Ammara Khan signed the MoU on behalf of their respective organizations. PITB’s DG e-Governance Sajid Latif, Director Hammad Hassan Hamdani and representatives from KPK including Director Land Record KPK Mushtaq Hussain and Project Director e-Stamping KPK Shabbir Ahmed and other senior officials were also present.

Speaking at the occasion PITB Chairman Azfar Manzoor said, “PITB’s flagship project e-Stamping has achieved remarkable results across Punjab since its launch. A total of PKR 244 Billion of revenue has been collected through e-Stamping System in Punjab to date.” Azfar Manzoor further stated that PITB’s e-stamping system has revolutionized the traditional system and digitized the process of issuance of stamp paper for the convenience of the citizens. “Digitizing the issuance of stamp paper in KPK will increase revenue and bring transparency,” he added.

Senior Member KPK Board of Revenue Zafar Ali Shah commented that fraud, financial theft and forgery, which were commonplace in the past, would now be eliminated through this system. “The old system of obtaining stamp paper in KPK will be replaced with a modern tech-driven system. Implementing a modern system in the province with the help of PITB will bring transparency and eliminate corruption,” he stated.

Earlier on, PITB had also signed an MoU with the Government of Sindh in the same spirit and e-Stamping implementation is now underway in the province. The collection of stamp duty has been a major source of revenue for the Government of the Punjab. The centuries old process had major issues pertaining to citizen facilitation like leakage of revenue through fake and fraudulent practices. e-Stamping System has radically transformed the traditional procedure of stamp issuance minimizing the duration of issuance from 2-3 days to only 15 minutes.