PAKISTAN-AFRICA TRADE DEVELOPMENT CONFERENCE AND SINGLE COUNTRY EXHIBITION 23-25th NOV 2021, LAGOS NIGERIA

Ministry of Commerce in collaboration with Trade Development Authority of Pakistan held 2nd Pakistan – Africa Trade Development Conference (PATDC) in Lagos, Nigeria. Under Look Africa Policy various initiatives have been taken by Ministry of Commerce to enhance trade relations with African states. Second PATDC has been organized in Lagos, Nigeria aiming to further enhance our commercial ties with member states of Economic Community of West Africa (ECOWAS). ECOWAS is a 15-member regional group with a mandate of promoting economic integration, member countries constituting ECOWAS are Benin, Burkina Faso, Cape Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sierra Leone, Senegal and Togo.

Nigeria being the largest economy in the ECOWAS is extremely important to enhance our commercial & institutional linkages with ECOWAS member states and was accordingly selected for holding of second of series of PATDC. The conference was attended by prominent Pakistani Businessmen representing various sectors including pharmaceuticals, surgical instruments, chemical, tractors/agriculture machinery, cosmetics, IT services, sports goods, food Electronics & engineering goods. Business and Official delegates from the ECOWAS member states also attended the conference and single country exhibition.

Mr. Abdul Razak Dawood, Advisor to Prime Minister on Commerce led 232 member business delegation along with senior officials from Ministry of Commerce, Trade Development Authority of Pakistan (TDAP), Drug Regulatory Authority of Pakistan (DRAP) and State Bank of Pakistan (SBP). During the three day event various B2B, G2G and B2G meetings will take place on the sidelines of the conference & single country exhibition.

The conference was also attended by various representatives of Nigerian Government including Governor Lagos State, Federal Minister for Industry, Trade & Investment Minister of Information and Culture Minister of Special Duties & Intergovernmental Affairs and senior officials from Standards Organization Nigeria, National Agency for Food & Drug Administration, Nigerian Investment Commission and other officials. President Nigerian Chambers of Commerce, Industry, Mines & Agriculture also attended the conference.

Mr. Abdul Razak Dawood, Advisor to Prime Minister on Commerce while addressing the conference stressed that given the concrete opportunities that exist between the two sides, Pakistan-Africa trade could easily be increased manifolds in coming years. He added that despite challenges, there would be a steady, gradual but persistent growth in Pakistan-Africa trade with enhanced level of engagement by both sides, public officials as well as private sector.

PSX Holds Gong Ceremony for Onboarding of Pakistan Kuwait Investment Co. (Pvt.) Ltd. as Market Maker

A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to welcome Pakistan Kuwait Investment Company (Private) Limited (PKIC) on-board as a Market Maker of debt securities on PSX. An agreement was signed between PSX and PKIC today at the PSX Trading Hall whereby PKIC becomes Market Maker of debt instruments listed on PSX. The agreement was signed between Mr. Farrukh H. Khan, MD & CEO – PSX, and Mr. Mubashar Maqbool, MD – PKIC. Senior management of both the organisations was also present.

On this occasion, Mr. Farrukh Khan, the MD & CEO of PSX, said, “I welcome Pakistan Kuwait Investment Company in their new role as Market Maker of debt securities on PSX. By providing capital to economically viable projects, PKIC has played an important role in promoting industry in Pakistan through equity and debt investments. As a Market Maker on PSX, PKIC will contribute further to Pakistan’s economy by directly engaging in the debt capital market.”

He further stated, “I look forward to a period of fruitful cooperation and productivity between the Exchange and PKIC to give depth and expansion to the debt capital market of the country.”

Speaking about the new role PKIC will play as Market Maker, Mr. Mubashar Maqbool, MD PKIC, said, “This is an important milestone for PKIC to become a Market Maker on the PSX platform. PKIC is committed to playing its role in promoting investment, diversifying the investor-base and developing the debt securities market in Pakistan.”

He further stated, “We are confident that PKIC, as a Market Maker, will add depth to the debt market and provide liquidity which is critical for the functioning of an efficient and vibrant market. We look forward to building a strong relationship with Pakistan Stock Exchange and continue to promote efforts for enhancement of investor base in the local capital market.”

Market Makers perform the crucial role of providing liquidity and depth to the market by facilitating investors to buy & sell securities through continuously quoting two-way prices, i.e., bid and offer prices.

SBP strengthens Corporate Governance Regulatory Framework for Banks and DFIs

The State Bank of Pakistan (SBP) today issued the revised ‘Corporate Governance Regulatory Framework’ with the objective to further strengthen the corporate governance regime of banks and DFIs and to align the same with international standards and best practices. The framework, which has been developed in consultation with key stakeholders, covers Fit & Proper Test (FPT) Criteria and other Corporate Governance regulatory requirements for the sponsor shareholders and beneficial owners, members of the Board of Directors, Presidents and CEOs and key executives of banks and DFIs. All the existing regulatory requirements related to corporate governance have been consolidated and rationalized in this framework to improve consistency, understanding and usability for stakeholders. It may be noted that last such amendments were introduced in 2007.
Among other changes made in the framework, the board is now required to collectively have adequate knowledge, expertise and skill-mix related to the business model, overall size, complexity and risk profile of the bank and DFI. Moreover, the board should have at least one female director who should not be a family member of any other director or sponsor shareholder of the bank or DFI. Further, maximum age of a President or CEO has been reduced from 70 years to 65 years. This change in age will be applicable to new Presidents or CEOs. The existing Presidents or CEOs will continue till the completion of their current tenures irrespective of their age and may also be considered for another term till the age of 70 years.
Complete Corporate Governance Regulatory Framework is available at following link: https://www.sbp.org.pk/bprd/2021/C5.htm

NorthBay Successfully Migrated SAP Workloads onto Amazon Web Services for IBL

NorthBay Solutions, an AWS Premier Partner in Pakistan, has successfully migrated SAP workloads of its client, International Brands Limited (IBL), onto AWS. The cloud migration promises to boost business agility, flexibility and economic value for the client.

In order to improve operational efficiency and enhance performance, IBL—an established world-class conglomerate managing a diverse portfolio of companies across consumer retail, healthcare, pharmaceuticals, distribution and e-commerce sectors in Pakistan—reached out to NorthBay to migrate its systems to the AWS cloud.

NorthBay Solutions partners with organizations around the globe to engineer solutions for SAP on AWS. They are the only AWS Premier Consulting Partner in Pakistan, with more than 350 AWS certified employees focused on helping organizations drive measurable business impact.

IBL’s trust was rewarded with a successful cloud migration completed to expectation, under time, under budget, and without any unwanted impact on IBL’s operations. To ensure IBL’s continued success, NorthBay is providing technical support services to IBL and proactively monitoring and maintaining their AWS infrastructure and operations. Furthermore, NorthBay is committed to ensuring the maximum financial benefit to IBL in monitoring their costs and advising management on how to streamline processes for maximum ROI.

Sharing his thoughts about the development, IBL CEO Munis Abdullah said, “IBL had come to a decision point where we either needed to re-invest in the current on-premises datacenter or to migrate the systems onto the public cloud. Our decision was influenced primarily by IBL’s future expansion goals and plans for making our applications more robust and feature rich besides fostering our preparedness for developing new capabilities like data analytics, and Internet of Things (IoT). We are thankful to NorthBay for completing the entire process in a smooth and hassle-free manner.”

Senior Vice President of NorthBay Solutions, Mr. John Flavin, added, “This was a great opportunity to work with one of the largest business organizations in the country. We are glad that the migration process has been completed without any disruption to IBL’s operations. We look forward to IBL’s next big venture which entails migration of the remaining business applications on 70+ servers to Cloud, helping them operate in an all-cloud model.”

About NorthBay:

NorthBay Solutions, a US-based AWS Premier Consulting Partner, is a global full-service Big Data , ML/AI and Database Migration professional services company. Over the years, NorthBay has developed expertise in migrating mission-critical custom legacy applications and data workloads including data warehouses in over 200 project engagements for hundreds of customers including Amway, Eliza Corporation, Wendy’s, Scholastic, Nationwide Insurance, Vector Solutions, Edmentum, Intelligize, Kaplan and many others.

About International Brands Limited

International Brands Limited (IBL) Group is a world-class conglomerate managing a diverse portfolio of companies across consumer retail, healthcare, pharmaceuticals, distribution and e-commerce. IBL Group was built with a vision to achieve unparalleled reach through an unmatched distribution infrastructure. Marquee brands on IBL Group’s client list include J&J, Red Bull, Mars and Kellogg’s.

PITB & Payoneer to Empower Freelance Ecosystem in Pakistan: MoU signed

Youth Affairs & Sports Department and Punjab Information Technology Board joins hands with Payoneer.Inc at the launch ceremony of e-Rozgaar newsletter. An MOU signing ceremony between Youth Affairs and Sports Department, PITB and Payoneer was held at Nishter complex, Lahore. Payoneer is an international payment gateway which has been supporting freelancers and service exporters in Pakistan for more than a decade, empowering self-employed professionals to become successful entrepreneurs and exporters.

According to this MOU, all the parties decided to support and empower the freelance ecosystem in Pakistan. It is a great step for governance and industry supporting youth for adopting digital skills as their career. The MOU was witnessed by Minister for Youth and Sports Mr. Rai Taimoor Khan Bhatti, Secretary Youth Affairs Mr. Fuad Hashim Rabbani, Chairman PITB Mr. Azfar Manzoor, DG Sports Mr. Adnan Arshad Aulakh and signed by Payoneer Team and DG e-Governance PITB Mr. Sajid Latif. Other senior team members including, Senior Program Manager PITB Ahmad Islam Syan were also present at this ceremony.

DG e-Gov Mr. Sajid Latif highlighted the role of 4th industrial revolution and how PITB is aligned with the vision to make Punjab a hub of technology. He also emphasized the importance of the role of community building and how this initiative can become the voice of freelancing community. ‘Our initiatives i.e. e-Rozgaar, e-Earn and NFTP playing a vital role to establish entrepreneurial cluster for supporting youth. Our aim is to equip the youth without discrimination and equal state of the at facilities’.

Minister for Youth and Sports Department Mr. Rai Taimoor Khan Bhatti while addressing the audience stated that it’s the vision of government to empower the youth and this will be an important step to introduce the youth to the technologies. It will help them to ease off the hurdles of international transactions and will add more opportunities for doing online business for young freelancers. He further added that ‘Pakistan is among the top ten countries in freelancing and we will keep promoting the advanced domains. e-Commerce is the growing industry in our country and the youth is adopting this actively. Recently Amazon, an international e-commerce platform, has officially added Pakistan to the list of approved sellers. This has paved a path to the new avenues to sell in the international marketplace. The dream of making digital Pakistan is coming true!’

On this historic occasion Minister for Youth and Sports Mr. Rai Taimoor Khan Bhatti launched the first issue of e-Rozgaar Program’s Newsletter. e-Rozgaar Training Program is a flagship project of Youth Affairs & Sports Department which is being executed by Punjab Information Technology Board (PITB). It has a target to train 35,000 unemployed youth in internet based freelancing skills throughout Punjab in 41 centers. In this regard, thirty (30) training centers have already been established throughout Punjab. Moreover, after the agreement with Punjab Higher Education Department, ten (10) training centers are ready to be launched in the postgraduate colleges. As of now, the program has successfully trained over 31,000 individuals in digital skills. A telephonic survey (9,000 Graduates) was done with the program graduates which has yielded into reported earnings amounting to PKR 3.5 billion. The program has observed an increasing participation rate of females i.e. 54%. The newsletter highlights the project details and the massive impact e-Rozgaar Program has created so far.

SBP presents a framework to ease exporters in selling products on International digital marketplace

The State Bank of Pakistan state that the key modification suggested involves a framework for supporting Pakistani exporters to sell their products on international digital marketplaces including Amazon, e-Bay, and Ali Baba.

The State Bank of Pakistan has presented a framework for assisting Pakistani exporters to promote their products through international digital marketplaces.

In a press release announced on Monday, the central bank mentioned it had presented alteration in its regulatory orders for exporting products from Pakistan with the agenda of rationalizing foreign exchange adjustments.

It further elaborated that the changes were focused on developing ease of doing business by rationalizing existing orders.

it stated that The key modification suggested involves a bodywork for supporting Pakistani exporters to sell their products through international digital marketplaces including Amazon, e-Bay, and Ali Baba under business to business to a consumer e-commerce model.

Adjustments needed in export regulations to apply the Pakistan Single Window Project, which would remove the demand of an electronic Form-E and are also part of the changed draft, it further said.

Legislative consent needed from the State Bank of Pakistan has been initiated to be assigned to banks to assist the business community. The central bank announced that the recommended changes are a part of SBP’s broader agenda to change remaining foreign exchange regulations to place them with the replacing market variation and business requires and global trade practices.

It further elaborated that, as a part of this process, eleven chapters of the foreign conversion handbook have previously been changed through a consulting process with the banking industry and the business community.

The latest modification in foreign exchange orders obtaining to exports is offered in chapter twelve of the manual. The document has been uploaded to the State Bank of Pakistan website and can be obtained here.

The previous month, e-commerce mighty Amazon had joined Pakistan to its sellers’ list.

In a tweet revealing the growth, Abdul Razzaq Dawood Adviser to the Prime Minister on Commerce, Textile and Investment described that it is a big achievement for our e-commerce and will extend up vast opportunities for young men and women businessmen. We praise everyone involved.

Careem Partners with Total Parco to give Its Captains with Quick Mobility Solutions

Careem the Super Application for the greater Middle East and Pakistan and Total PARCO Pakistan Limited approved a settlement to give its Captains with Total PARCO Pakistan Limited Mobility solutions at an exceptional reduction.

With help of this collaboration, Careem tycoons obtain a flat discount on the purchase of Total PARCO Pakistan Limited fuels, oils and other services such as oil change, car wash in fixed service stations countrywide. The solution will be consolidated into Careem’s application where its tycoons can easily approach the offers.

Super Application of Careem is also guiding adaptability solutions suppliers in the region with a great network of tycoons in the ride-hailing and delivery services. Therefore, Total PARCO Pakistan Limited has one of the biggest footmarks as an oil trading company roaming the nation. This tactical cooperation gives a constructive solution to an important user base through innovatory solutions customized to reach the growing demands of Pakistan’s mobility industry.

On the occasion of partnership, Zeeshan Baig CEO and Country General Manager of Careem Pakistan describes that Captains are at a significant part of what we perform and we are always considering for ways to rationalize and boost their lives. Cooperation with Total PARCO Pakistan limited will clearly good our Captains and mitigate their monetary cost permitting them to give special standard.

Talking about this event, Mehmet Celepoglu CEO of Total PARCO Pakistan Limited speaks that Capability and highlighting our diverse user base by continuing their requirement top-of-mind capable the company to make seamless customer experience and remain alongside of exchange direction that would increase user loyalty. By partnering with eminent cooperation like Careem. Total PARCO Pakistan Limited furthers its aspiration to manage the energy that targets to persistently make value product and service providing to help our users.

This collaboration has greatly placed Total PARCO Pakistan Limited to need new opportunities in the automobile industry. The management teams of both companies anticipate to successful corporations and will manage other direction of common interest.

About Total PARCO Pakistan

Total PARCO Pakistan Ltd is a collective journey between Total Marketing Services and PAK ARAB REFINERY Limited. TOTAL PARCO is one of the biggest international oil marketing organization in Pakistan with the second greatest network of more than eight hundred deal channels across the country. With a broad-ranging offer, ranging from high standard items such as fuels, lubricants etc. and services. TOTAL PARCO is at the system of both Retail and B2B users in Pakistan. Total PARCO Pakistan Limited is enacted to talent growth, standard, creditability and operational safety for its workers, entrepreneur and business players.

About Careem

Careem is the everyday Super Application for the bigger Gulf countries. Careem gives a host of daily services that people want to go around, order products and carry money in one merged smartphone application. Careem’s task is to rationalize and develop the lives of people and make an awesome company that motivates them. Initiated in July 2012, Kareem works in over a hundred cities across thirteen countries and has developed more than two million revenue-producing opportunities in the region. Careem enhanced a wholly-owned subordinate of Uber Technologies include in January 2020.

PITB & Livestock to Revamp SPMS 9211 System benefiting 9 million farmers in Punjab

Punjab Information Technology Board (PITB) and Punjab government’s Livestock & Diary Development Department (L&DD) have signed an agreement to revamp the Strengthening of Performance Management System commonly known as SPMS 9211 System in a ceremony held at Arfa Software Technology Park.

The agreement was signed by PITB DG-IT Operations Faisal Yousaf and Director L&DD Dr Muhammad Ashraf on behalf of their respective departments. Punjab Minister Higher Education and Information Technology Raja Yassir Humayun Sarfraz, Provincial Minister Livestock Sardar Hasnain Bahadar Dreshak, Chairman PITB Azfar Manzoor, Secretary Livestock Punjab Asad Rehman Gillani and other officials were present at the occasion.

According to the Agreement, PITB will extend its ICT support to restore and upgrade SPMS 9211 System for the welfare of the farmers across Punjab that would help improve the governance in the province. PITB will operationalize the system and enhance it further by developing an Android and Web application of SPMS 9211 System whereas automate Reports, Analytics and other components of the system.

Speaking at the occasion Punjab Minister Higher Education and Information Technology Raja Yassir Humayun Sarfraz said, “Punjab government is committed towards modernizing governance through latest ICT interventions. Revamping SPMS 9211 System is one such step towards remodeling the services of L&DD for the welfare of the farmers.”

Provincial Minister Livestock & Diary Development Sardar Hasnain Bahadar Dreshak stated, “SPMS 9211 System caters to the welfare of 9 million farmers. Automation of this system will enhance the service delivery and efficiency of the department.”

SPMS 9211 System represents a multi-channel information network for welfare of farmers by enabling a number of services such as farmer registration, disease alerts and diagnostics, treatment, Artificial Insemination, Vaccination, Ticket Management, Performance Monitoring, Contact Centre, Vehicle Tracking, Supply Chain Management, Cold Chain Management, Store Management, and Geo Tagging.

Punjab Minister For Higher Education & IT inaugurates e-Earn, Punjab’s largest co-working network

Provincial Minister for Punjab Higher Education and Information Technology Raja Yassir Humayun Sarfraz inaugurated Punjab’s largest co-working network, e-Earn, devised by Punjab Information Technology Board (PITB) in light of the directions of the Ministry Of Higher Education & IT.

The ceremony, held at Arfa Software Technology Park, was presided by Chairman PITB Azfar Manzoor. PITB Director General e-Governance Sajid Latif and other senior officials were also present at the occasion.

Speaking at the occasion Minister IT and Higher Education said, “Punjab government has initiated e-Earn with the vision to empower entrepreneurs, freelancers, remote workers, and small businesses by sharing the cost up to 60% of each member. These co-working spaces will be established in 36 districts of Punjab providing professionally designed and well-facilitated shared office spaces whilst granting opportunities for its members to build strong ties through collaboration, events and networking. This is yet another phenomenal project of the government targeting to empower approximately 8,000 – 10,000 freelancers.”

Provincial Minister stated that the project has already gained momentum. As announced the first co-working center will be launched in Bahawalpur during the first week of June and the registrations are already opened for this and freelancer. Our next launch would be in Rawalpindi and Faisalabad. Mr. Raja Yassir Humayun also underlined the role of co-working industry in Pakistan for economic development and prosperity. He urged the freelancers to make any possible contribution for the prosperity of nation. He also highlighted other the key priorities of the government to empower youth.

PITB Chairman Azfar Manzoor said that through e-Earn we would be able to accumulate smart, talented and skilled aspiring professional who, through collaboration and networking, would bring foreign exchange and boost country’s economy. To register for e-Earn co-working space, age should be 18 to 36, active freelancing profile, Valid CNIC, and Domicile of Punjab is mandatory. Freelancers can book a place for 4 Months by paying 40% of the total fee.

NHMP & PITB to establish National Data Repository of Driver Licenses issued across Pakistan: MoU Signed

Punjab Information Technology Board (PITB) and National Highways & Motorway Police (NHMP) have signed an MoU to establish National Data Repository of the all driving licenses issued by the federal and provincial licensing authorities. Held at PITB, the ceremony was presided by NHMP Additional Inspector General (Addl IG) Central Region Zubair Hashmi and PITB Chairman Azfar Manzoor.

The MoU was signed by PITB Director General IT-Operations Faisal Yousaf and AIG Operations Salman Ali Khan of NHMP on behalf of the organizations. Senior Officers from both organizations, including Deputy Inspector General of Police (DIG) Sultan Ahmed Chaudhry and PITB Additional Director General (ADG) Software Engineering Adil Iqbal Khan were present at the ceremony.

On this occasion, Additional Inspector General (Addl IG) Central Region Zubair Hashmi said that National Data Repository aims to create a centralized system through which citizens can obtain one national driving license that could be renewed or cancelled from any province. Furthermore, Point System will be implemented to improve the driving culture and reduction in accidents and crimes.

“PITB will develop a web portal and mobile application to assist NHMP in timely detection of offenses regarding driver license and in identifying fake, duplicate, cancelled and expired licenses. PITB will render technical services and give necessary trainings to NHMP staff on usage of developed applications. Trainings will also be extended to NHMP for maintenance of the applications/service and systems,” stated Chairman PITB Azfar Manzoor.

Deputy Inspector General of Police (DIG) Sultan Ahmed Chaudhry said that this initiative integrated with E-Ticketing system will enhance the traffic awareness and it will make traveling more safe & secure on national highways and motorways.