Category: Startups

SBP Relieves Process of Increasing investing from Oversea for Start-up

To ease the initiation of companies in increase capitalize from overseas, the State Bank of Pakistan has permitted them to get credit as changeable Deb. Changeable debt is a type of capitalizing with the category that it may be changed into equity stakes of the lease institution, subject to specific terms and conditions.

Before the latest implementation, institutions were permitted to increase overseas currency debts from foreign within the limitation mentioned in Chapter nineteen of the foreign change instructions. However, there was no distinct list that gave the option of exchangeable of debt into the impartially of the leasing company.

It is supposed that this measure will support in fascinating more oversea financing as it will give another choice to international capitalist to finances in launch companies working in Pakistan.

The overseas capitalists, which are unsure to corporate in the equity of the Initiation Company at a starting stage. It may give investing under this class and determine about a contribution is partially at some later stage.

 

Pakistani fintech Tag Concludes $5.5 million in region’s largest pre-seed, gains Y Collaboration backing

Islamabad-based fintech Mark has concluded $5.5 million dollars in a pre-seed round directed by the United States VCs Quiet Capital and Liberty City Ventures. It briefed Pakistan Tech News today. The round also involved the engagement of Fatima Gobi Volunteer, Unknown Volunteers as well as local investors like Visa and angels involving general colleagues of Andreessen Horowitz, Canaan Partners, Khosla Ventures and Mercury CEO Immad Akhund. The Pakistani fintech was also received to connect Y Collaboration summer 2021 batch.

As per our data, it is the biggest pre-seed ever in the Gulf, North Africa and Pakistan. Egyptian fintech Telda quickly maintains the data for a few weeks after increasing 5 million dollars in a pre-seed previous month.

Initiated by Talal Ahmad Gondal, Ahsan Khan, and Alexander Lukianchuk in 2020, Tag plans to establish the first digital retail bank of Pakistan and beginning with a private beta of its monetary super app that will be started within the next few weeks. The app will empower the customer to open bank accounts by fully digital on boarding and form peer-to-peer moves to other customers on Tag or any bank account in Pakistan, pay utility bills, renew mobile load.

The users will also get a Visa-powered debit card that can be utilized for cash withdrawals or online/offline payments at assisted merchants. The startup had obtained in-principle consent from the State Bank of Pakistan and is in the process of receiving its nod to start its pilot.

CEO of Tag speaking to Pakistan Tech News described that a large number of people in Pakistan keeps un-banked including youngsters and women of the country. We are making Tag to attract these and many other undeterred segments into the investment ecosystem of the country. We are very delighted to have obtained the backing of some of the best foreign investors and tactical players to establish the future of banking in Pakistan.

He also stated that they are initiating with mobile banking result but need to enlarge into more utilized cases for different user department in the country. Tag also desires to investigate the option of developing to some other huge markets of the Middle East & North Africa along with cooperation but for now, concentrating completely on Pakistan.

Its creators approach with the great experience of operating with/for startups and VC organization. Talal already organizes different functional and investment principles and different operational and investment roles at technology and financing organizations across Europe for over seven years. He was mostly with Amazon main company’s VC team for EMEA. Tag CTO Alexander Lukianchuk was already guiding an engineering team at European neobank N26 and has over fifteen years of experience in establishing products and services for the investment industry which involve guiding an engineering team at N twenty-six. Ahsan Khan was a financing treasurer with Deutsche Bank.

The fintech currently has a team of over thirty workers with most of them employing accidentally from Europe. It contains the former engineers and designers of Google, Twilio, N Twenty-six, and some other heading technology companies.

Tag plans to utilize the funding to invest in its trade launch, improve its technology and operations teams, and observe with regulatory requirements.

 

A Complete Beginners Guide to Register a Company in Pakistan

TABLE OF CONTENTS

  1.  Overview of Legal organization in Pakistan
  2.  Types of Legal organization in Pakistan
  3.  How to register a company in Pakistan
  4.  Substitute to company registration in Pakistan

There are many of causes why to finance in Pakistan. Some of its main advantages add low opposition, a huge population, and a rapidly rising economy.

In this article, you will know an overview of different legal organization that is present for oversea investors. We will also discuss the step-by-step education to company registration in Pakistan. The information showed continues to convert depending on the laws and modifications assembled in Pakistan. We revise our column accordingly.

Acknowledged Oversea Ownership in Pakistan

Unlike many other parallel markets, Pakistan is very appreciative of overseas investors. Due to negative international perception, the country has specially extended up to abroad investment over the past years. For an instance, you can even import some items without obtaining an import license. Furthermore, overseas investors can establish fully hundred percent oversea-owned institution in most business lines. The partners can be of any citizenship exclude for Israeli nationals.

Minimum Money Requirement in Pakistan

There are two sorts of share capitals in Pakistan first one is authorized capital and the second one is paid-up capital. Both capitals must be described in the Articles of collaboration when you enroll your company. Paid-up capital is the amount of money that the organization gains from its partners. On the other side, authorized capital is the maximum amount of investment wealth that the organization is permitted to approve to announce to its partners.

There is no specific minimum amount required for the private limited organization in Pakistan. For this reason, a common practice is to assume one hundred thousand Pkr as the lowest capital. In reality, although, the paid-up capital you insert must comply with your designed expenses. However, you design on assembling an industry for your business, you must also have ample wealth for that.

Types of Legal Organization in Pakistan

More and more overseas investors acknowledge Pakistan as a market to finance in. In March 2018, overseas finance in Pakistan enhanced by USD one hundred and fifty-three USD. It is supposed to develop by 17.2% by 2020. If you are thinking to finance in Pakistan. Therefore, here are the types of legal organizations that you can select from.

A Glasses is placed bundle of papers on desk

Private Limited Company

An overseas capitalist can establish completely Oversea-owned private limited companies in Pakistan. The minimum number of partners required to enroll on this kind of organization is two. Any overseas citizen can be a participant in this kind of company but exclude those coming from Israel. In general, one hundred thousand Pkr is supposed to be the minimum amount need. Although, take note that the real minimum amount you require to insert relies on your organized expenses.

Another basic requirement is that the entered address of the organization’s office must be established in Pakistan. In Pakistan, the standard company liability time is just six weeks. The registration is also subject to acceptance from the Board of Investment and you also require to get permission from the Ministry of Interior.

Single Member Company

Oversea investors, Even Israel nationals can also establish a single-member institution in Pakistan with only one partner. Just like a limited responsibility company, you can also install a single-member company in Pakistan with a minimum amount of one hundred thousand rupees. The standard time of establishment is just four weeks and also ensures that the entered address of the institution will be in Pakistan.

Public Limited Company

In general, a public limited company has its stakes gave to the general public. Those stakes are with limited responsibility. Anyone can get the stakes. It may be through a public providing or through investing in the stock market. There are two types of public limited companies in Pakistan first one is the unlisted and the second one is listed.

How to enroll in an institution in Pakistan

Here are five steps to follow how-to enroll the organization in Pakistan.

Step 1: Compliance of Company Name

This is the very first step of company registration in Pakistan is picking the company’s name. It is significant to originate a unique company name that would establish you distant from the rest in the field. You must pursue the limitation and recommendation. For instance, you must ensure that your company’s name does not involve any restrain words.

Step 2: Entry of Documents

Once the company name obtains the compliance, you require to add the confederation documents to the Securities and Exchange Commission of Pakistan.

Step 3: Certificate of confederation

After entering the documents, the Securities and Exchange Commission assesses them. They estimate their effectiveness. A digital signature is allowed by the National Institutional Facilitation Technologies and can be needed through the Securities and Exchange Commission. Also, they provide the certificate of confederation. Presentation of the company may be acquired. Although, this bases on where the business initiated.

Step 4: Deposit of Shares

After the enrollment, partners must place their equal amount of stakes in the company’s bank account.

Step 5: Enrollment of Revenue, Trading, and Executive Taxes

In the end , the final step of corporation enrollment in Pakistan is the enrollment with the Federal Board of Revenue and the point of a national tax number. A sales tax enrollment number may be submitted if relevant.

Replacement to company enrollment in Pakistan

Branch Office

A branch office is an appropriate adaption to company enrollment if your company desires to have an existence in Pakistan without establishing a separate legal body. Branches following out a contract in Pakistan can be installed. Although, a branch office cannot involve in any commercial or trading activities of whatever nature. Therefore, your activities rely on the contract you indicated. The contract regulates your activities.

The parent company keeps a hundred percent of the branch office in the country of launch. Since it is not a restricted responsibility company, it does not need any minimum amount either.

Process time for the enrollment acquire seven weeks. The permit can be applied for one to five years if it has an agreement from the Board of Investment.

Liaison Office

If you want to improve your items in Pakistan, you can establish a hundred percent foreign-owned connection office here. Besides items marketing, you can also give technical advice and support, discover the various possibilities of joint contribution and export marketing in Pakistan. Although, this type cannot gain in commercial or trading activities and it does not specify any amount.

A liaison office can only operate according to the providing of the contract or the task. While part of the contract affirms that you can only give technical support and product advertisement. You cannot use in export advertisement and other projects. It is relevant to the branch office. So, there will be no shareholding since it is keeping to be in the country of contact only.

The standard time for setting a liaison office in Pakistan is seven weeks. Therefore, once allowed you are acknowledge will have a limitation period of one to five years. Also, the Board of Investment requires to accept it.

How to begin with company enrollment in Pakistan?

If you are thinking of finance in Pakistan and get in touch with Emerhub and we will control the procedure of company enrollment on your behalf.

All you require to dispatch us to get initiated is

  • Investment of total amount
  • Passport copies of the stakeholders
  • suggested the name of the organization
  • Addresses, Name, and shareholding of each of the shareholders

How Effective Is Online Business in Pakistan? Ideas That Doesn’t Require Much Investment

You may have a dream of starting your own business like millions of Pakistani’s have too. However, the main matter is that there always come several obstacles in the way of gaining success and achieving your dream. The obstacle is a necessary element that definitely comes into one’s way. Some people consider that obstacle something really difficult time; although, for others, it could be a solid business idea for starting a new business.

In different hurdles, the most important and the biggest hurdle is money. You may have listen that if you don’t have money then you are not meant to start any business. This is one of the common lines that you may have to listen from several people. But that is not true, now you can start your online business in Pakistan with little or even no investment.

Below mentioned the top 10 business that you can start online without any investment:

1. Go with Consulting Services

A consulting service is a kind of business, in which you provide appropriate advice to the people according to their matter. You see a large number of small business owners and startup persons who are ready to pay for getting advice from an expert regarding their business. If you are a person having great experience then consulting service business is for you. This is a highly valuable and quite easy business, but you will have to need years of experience to become an expert.

2. Micropreneurship

This is not a commonly known business, maybe you even don’t hear about it. Micropreneurship is just a kind of entrepreneur; an entrepreneur who manages the small type of businesses. That will allow you to do the type of work that you want and manage a balanced lifestyle. There falls different kinds of businesses; for instance, driving for Careem or Uber, moreover, even renting your own house. Mostly, Micropreneurs begin their business with zero cents of investment. As the money rolls in, a Micropreneur reinvests it for starting a bigger business. For starting, this means of earning you have to figure out that which kind of business model will suit you the best.

3. Affiliate marketing

This is somehow quite similar to dropshipping. However, here you are not bound to making the inventory as well is no need to worry about the product’s shipping to the customers. The only thing you have to do is to go with the niche that is most profitable for your online business. Moreover, you have to find an affiliate partner; affiliate websites such as Clickbank, Walmart, or Amazon can help you out. So you need to develop a website and on that website, you have to put those links to the products. As any customer buys any product through that connecting link to the original site you will get a commission. Generally, the commission comes between 5 to 25 percent.

4. Resale Factor

Reselling is a quite simple process, it doesn’t need any investment.

You simply need to acquire the product and then just sell it to the people who are looking for that. Now the question arises that how would you come up with the product. Dropshipping is one of the best options as almost no cash is required for this means of working. In this process, you firstly ship the product directly from the product creator keep into consideration of your margins. If you think that the profit margin is low then you can also go with wholesaling. However, that will demand money. Taking a start through the shipping process is a quite better option. In short, with this method of Resaling, you are allowed to come up with more profit and having full control over the business.

5. Create your own blog

Blogging is one of the quite famous ways of online earning. No need to take it difficult if you are not comfortable with writing then you can with other options as well. If you can go with blog and content writing then it is great; otherwise, the best part is that you can make Vlogs or post photos. Moreover, you can go with a website regarding games. In simple words, there are several niches on which you can work. Now the first step in starting your blog is that you have to buy a domain then hosting. This is recommended to buy a domain otherwise you can go with a completely free blog as well. After you can earn money through different means; such as, you can go with Google AdSense approval or you can add product’s link for promoting as an affiliate marketer.

6. Start a YouTube channel

If you like to make videos then starting a YouTube Channel is the best option for you. However, one element is very important in this aspect and which is that you have to create catchy and unique content. A content that can engage the people for watching your video. Here you can also go with many niches. Here, you will get money with the help of ads that will appear along with your YouTube video and the clicks of the people on that. This will turn you on for getting revenue.

7. Online tutoring

If you love teaching or your personality suit teaching then you will certainly love to teach online. Here, nothing investment is required as there is no need for a classroom. You just need to sign up on different sites; Such as tutor.com or even you can go with the creation of your own web as well. However, be mind-full, you just need to go with that subject on which you have good command.

8. Virtual assistant

One of the most popular jobs in the future will be a virtual assistant as it is right now as well. Your job is just like a secretary but here you have to do everything online. What you need for this job are a phone, laptop or computer and a stable internet connection. Generally, the task that a virtual assistant is assigned is email management, buying a domain and making travel arrangements, social media marketing, audio or video editing, blog posting, calendar management, and so on. In simple words, you can choose a task regarding your skill and will pay hourly.

9. Become an app developer

This is one of the best future jobs which is considered and the demand for this work is very high nowadays. App development will allow you to make quite a good amount. No doubt, you must have a great grip on your skill because many businessmen wanted to develop an android app for their business. Your task is to find such people and you will start generating money through your skill.

10. SEO consulting

Last but not the least, this is somehow different from the type of consulting discussed above. Presently, you can not ignore the importance of SEO optimization. So why avoid doing SEO consulting services or even not opening your own SEO agency? There could be fear inside you regarding expert SEO experts. No doubt everything takes time, after you become an expert, then you can start your steady online business. There is a large number of businesses that are looking for SEO experts; so that they can rank their website high.

You even not to keep working on a single mean of earning. After becoming an expert in one field you need to jump into the next and be mindful regarding the trend as well.

QisstPay – The Revolutionary Interest-Free Installment Solution for Pakistan

QisstPay is the fastest growing interest-free installment solution in Pakistan at the moment. And there is a good reason for that. It is a revolutionary idea. Online shopping amounts to nearly 18% of all retail shopping that takes place in Pakistan. This roughly means that 2 out of 10 people prefer to shop online. As we very well know that e-commerce is the future of retail and by 2040 this market share is projected to rise to nearly 95%. What this essentially means is that conventional retail stores will become nothing more than a relic of a bygone era.

As more and more people are starting to buy online the need for a reliable and interest-free installment solution is becoming increasingly crucial, enter QisstPay. It is a first-of-its-kind 0 markup, interest-free installment solution that aims to help consumers and merchants alike. There are some other platforms in this space, but they all suffer from 2 major drawbacks:

  • Convenience
  • Interest

These platforms are either too complicated and hard to use or they are simply unreliable. If you want to buy something on installments, you have to do a whole song and dance with the terms and conditions of these platforms. You are often required to put down something as security or you have to submit personal documentation in order to procure the installments. This leaves most consumers with an uneasy feeling in their gut and deters them from using these platforms. And if you decide to go through this ordeal, at the end of the tunnel you are met with extortionate interest rates that leave you questioning if all of this was even worth it? This is the problem that thousands of online shoppers face every day and the team at QisstPay understands that. QisstPay has been designed as a solution to this problem. Here is how QisstPay solves these annoying problems:

  1. 0 Mark-up and 0% interest – Anything that you buy on installments with QisstPay will be free of any kind of markup, interest, or hidden charges. You can rely on QisstPay.
  2. QisstPaywon’t ask for your CNIC – Yes. QisstPay is the first interest-free installment solution in Pakistan that will not torture you with complicated Terms and Conditions. You can rest assured that your privacy is protected.

QisstPay aims to bring a revolution to the world of online and in store shopping for Pakistan.  QisstPay wants you to be able to shop without the burden of having to pay huge interest rates and the fear of having to hand over your personal data to someone. QisstPay is your reliable and interest-free installment solution for online shopping. If you are a consumer then they offer the convince of being to shop more freely and if you are a merchant then they offer the chance to join the network and grow your business like never before. Let us tell you how QisstPay works.

QisstPay – How it works?

QisstPay has designed the platform to be as user-friendly as possible. QisstPay understands what you want and with QisstPay the intention is to give it to you as easily and seamlessly as possible. The platform is the first of its kind in Pakistan to provide interest-free and instant installment solutions. Here is how it is done:

  1. Unlimited Options – In order to cater to the diverse and unique market of online and in-store Pakistani shoppers, they have signed up with top brands and stores both physical and online to become a part of the QisstPay network. You will be able to use the installment solution with any store that has signed up with QisstPay. You will find the option to get installments using QisstPay on the checkout page of these stores.
  2. 2 Instalments – In order to keep the platform interest-free and make the process more convenient for you. QisstPay has developed the model of 2 installments. When you buy a product and checkout using QisstPay instead of cash on delivery, your transaction amount will be divided into 2 installments. 50% of the amount of the transaction will be deducted at the time of purchase and the second installment will be charged to you after 30 days. It is a clean and simple model that makes installments easier for everyone.
  3. Anyone can sign up – If you have an online or physical store and want to grow your reach to millions of new potential customers then you can sign up with us at QisstPay. QisstPay will help you shine a spotlight on your business by giving you access to thousands of customers. And if you are a consumer then QisstPay will introduce you to new brands and products that you did not even know existed. It really is a win-win situation and part of the reason why QisstPay is a pioneer in the interest-free installment solution sector in Pakistan.
  4. Keep your CNIC – As alluded to earlier, they do not demand personal information from the consumers in order to provide you an interest-free installment solution. Your privacy and data is important and they respect that. If you use QisstPay, you will not have to disclose your CNIC number to them. QisstPay simply don’t have any use for it.
  5. Security and Safety – All of the merchants are paid upfront for any purchase that is made using the platform. This means that you will always be in the clear even if a customer misses an installment. This is the kind of safety that makes QisstPay the most reliable and trustworthy interest-free installment solution in Pakistan.

QisstPay is the interest-free installment solution that the merchants and consumers in Pakistan deserve. Buying products with an installment solution should not be so complicated and difficult. QisstPay wants to make the process seamless and convenient for everyone involved.

How are merchants going to benefit by signing up with QisstPay?

If you are a business owner or a merchant that is new to the world of e-commerce, then you would have noticed that this is a highly competitive market. You have to stand out from your competition in order to make a name for yourself and get traffic to your platform. QisstPay can help you gain traction for your business and more eyes on your products. When you become a part of QisstPay, you not only get a reliable interest-free installment solution, but you also get a network of consumers that can become your potential customers. Here is how QisstPay can help you and your business if you are a merchant:

  • Free marketing – When you are a part of the QisstPay platform your business will get exposed to millions of online shoppers. This is free marketing and will have a higher conversion rate since these are high-quality leads that are looking for the specific product that you are selling.
  • Better Sales – When you offer your customers an interest-free installment solution for your products then naturally you are going to attract more customers. This is an edge that you will have over your competition. So, QisstPay is a great way to boost your sales.

How are consumers going to benefit from using QisstPay?

If you are an online shopper in Pakistan, then you must always be looking for new and reliable marketplaces where you can shop with peace of mind. As we have described earlier, QisstPay is the fastest-growing interest-free online installment solution in Pakistan. If you are looking for an installment solution that is instant and trustworthy then it does not get better than QisstPay. Here is how you can benefit by using QisstPay:

  • More buying power – The seamless installment solution that you get with QisstPay increases your buying power. You can buy more products when you know you can get them on easy installments.
  • New Brands and products – QisstPay is your platform to discover new products and brands. QisstPay has made sure to cater to the unique needs of the consumers of Pakistan. You will find everything from footwear to electronics on the interest-free installment solution.

If you are interested in joining the revolution of QisstPay then make sure to give us a visit by clicking here. If you have questions or want to learn more about the interest-free installment platform then you can contact us at info@qisstpay.com. You can also talk directly with the Co-Founder, Saad Ahmed, at +92 332 4767439. Shop freely, say no to interest and join the QisstPay revolution!

In 9 cities of Punjab PITB is going to launch incubators for tech startups

PITB (The Punjab Information Technology Board) launched the Regional 9 Plan. The regional plan9 is a network of incubators that are used for the technology startups in overall the province. This emerged on Monday.

 

PITB is going to start the nine incubation centers in different cities of Pakistan. Including Bahawalpur, Dera Ghazi Khan, Lahore, Faisalabad, Multan, Rawalpindi, Sahiwal, Gujranwala, and Sargodha along with the public sector universities. This statement was issued from the board. Furthermore, it’s added that these centers will start their work from April in Bahawalpur, Lahore and Sargodha.

 

According to the statement regarding the elaboration of the board’s plan that the Regional Plan9 has a purpose for inculcating a technology to drive the entrepreneurial mindset throughout the province. This is also the key to strengthening and expanding the ecosystem’s startup.

Those startups that will be chosen, will allow a different number of services. Such as networking opportunities, free office space, monthly stipends, training and mentoring.

In addition, it was said that the program is actually based on a zero-equity model. In that statement, every service is targeted and tailored for supporting, sustaining and enabling the startups. So that it could transform their concept into a functional service.

Moreover, it was said that the project will boost up the provision of equitable access for the entrepreneurial chance all over Punjab.

 

In the selection process, the Plan9 of the regional is going to hold “The Launchpad for indicating the startups for using a judicious process and eligibility criteria which is involved by the domain experts.

 

According to the PITB statement, the mentors, academicians and Professionals from the industry will also present at that event. Besides the centers are situated in Sargodha, Lahore, and Bahawalpur. However, the date is no announced yet. Lahore is  commencing operations in ongoing month.

Pakistani smart farming solutions provider raised seed funding from BRINC MENA

Radical Growth Solutions provides the smart solutions for farming-raising seed funds from BRINC MENA, edibles and Agricultural technology journey capital and Pioneer Corporation.

Introduced BRINC MENA’s hardware

Nabeel Yousaf and Priya Osanna Smith introduced BRINC MENA’s hardware and IoT acceleration program in 2017; which creates usage of hardware, software and mobile apps convenient.

This technology helps the farmers to reduce operational costs by moving from guess work to exact amount that a plant needs, which increases crop production.

Radical Growth Solutions has been providing assistance since its formation. It attached to Jordan HASAD agriculture and technology accelerator in 2019 and later on BRINC hardware and IoT acceleration plan in 2020.

Value is increasing day by day

Nabeel Yousaf said that our value is increasing day by day as we are joined with both accelerators. They are helping us to better our ideas and make more progress, in order not to fall due to the absence of proper support.

The startup aims to bring the fresh capital in use in order to bring about advancements in the product leading towards the development. This will, in turn, be rolling out the first generation of their IoT, i.e., internet of things based intelligent system.

Moreover, a marketing campaign will also be launched which will lead on to raise awareness regarding the benefits of the digital transformation in the agriculture.

Investment Manager

Farah Hijjawi, Investment Manager HASSAD has arisen their opinion as well, he said that the Radical Growth can consider as an innovative solution, which improves the lives of the farmers through increasing the growth and reducing costs. There is no doubt that the company will be a game-changer in the agricultural space and will lead the change necessary in introducing tech-solutions and digitizing the sector, especially at the farmers’ level.

She went ahead and stated that the alliances will the company is building along with the fresh funds it received will help boost its system development, and will accelerate its commercialization and go-to-market plans.

Associate Program Manager

Fatima Tammam, Associate Program Manager of BRINC MENA has given her statement regarding it as well. She says that the Innovation has always been the protagonist of the great revolutions in the agricultural field. Moreover, it has a vital role for maintaining food security worldwide.

Payoneer & Enablers Joined Hands to Strengthen Digital Ecosystem for Entrepreneurs

For strengthening the digital ecosystem Payoneer and the enablers have joined their hands. This was happened in Lahore, 19th Feb 2020, during the ceremony. The top leaderships connected from sides joined the meeting.

Payoneer is a platform:

Basically, the Payoneer is a platform that is well-known for its cross border payment transformation: business or freelancing. It is working in over 200 countries worldwide for streamlining global commerce for more than millions of small business and market-places. Payoneer delivers quite good service for cross border payments through its banking infrastructure. Furthermore, with the help of compliance, operations and robust technology, it is making cross border transfer easy and secure.

 

About Pakistan

If we talk about Pakistan, then it is truly a blessing because it is one of the few platforms that is allowing cross border payment transaction. So it is acting as a source of relief for the online seller and freelancer of Pakistan. According to the report of Payoneer, that Pakistan is ranking 8th number as fastest growing freelancing economy worldwide. The reason is the abundant opportunities.

Online sellers and freelancers

For online sellers and freelancers, Cross-border payments remain one of the most prominent pain factors. To the eliminating this aspect, Payoneer is collaborating with the enablers, so that this pain point can alleviate. Moreover, could make the make cross-border payment as easy as a local payments procedure.

Cross border payments

Keeping in view the extensive need of the freelancers: cross border payments. The Enablers come forward and shake the hands with Payoneer for making easy cross border payments.

The Country Manager of Pakistan, Mohsin Muzaffer also talk about how Payoneer intend it to go ahead; shared a summary of the collaboration. He said that it is pleasing thing to know that such grand initiatives, the companies are taking in Pakistan. Furthermore, he thanked the enablers for making cross border payment easy and secure. He said that if the Payoneer and the enablers are going to work closing then it will definitely help the digital ecosystem in Pakistan. 

Moreover, the Payoneer’s Partnerships Manager, Affaf Noor also shared the same remarks and said that it is exciting thing to join the hands with the enablers. It will definitely improve the cross border e-commerce payment transaction. In addition, she also shows interest in working closing in future. So that they could develop the digital ecosystem in Pakistan.

Why The enablers are shaking the hands with the Payoneer:

The enablers are shaking the hands with the Payoneer taking goal that they will engage2 Million freelancer or employment opportunity. However, talking to Saqib Azhar, the CEO of Enablers, there discussed some visionary insights as well regarding this step.

That we all are working on it that country becomes the hub of freelancing and e-commerce working. So in this aspect, working with Payoneer will result in easy payment transfer rather than any disturbance. Lastly, he added that we putting effort into providing such services that can enthusiasts in every possible manner that could result in a bright future.

Last but not the least, Faisal Azhar added, COO Enablers said that it will surely result in digitalizing Pakistan as one of the biggest and well known e-commerce markets worldwide.

 

SBP considers easing rules & regulations for pakistani startups to get foreign loans

Pakistani Startups Rules and Regulations

According to the working paper, the central bank can allow Pakistani startups to obtain convertible debt from foreign countries, which can later be converted into equity.

The working paper states that a Pakistani startups can obtain a loan from abroad in the form of a convertible, meaning that the lender must have the option to convert the borrower’s debt into equity, but there are certain conditions.

The debtor company should be formed as a private limited public listed company under the Companies Act 2017. The company’s annual revenue since its inception should be less than Rs 2 billion, and its shares should be worth less than Rs 30 crore. This type of loan will mature in one to five years.

The original amount can be paid in bullet payment and advance payment will not be allowed. In meetings over the past year, representatives of pakistani startups and venture capital firms have voiced concerns that existing foreign exchange regulations do not meet the requirements of tech and startup companies.

The SBP says that according to these shareholders, sometimes foreign investors want to invest in the form of convertible loans.

Increasing growth of mobile phone accessories in Pakistan

Mobile phone accessories

Demand and usage of mobile phone accessories have been increasing drastically over the years. With the increasing technology awareness and the growing purchasing capacity of the masses, Pakistan as a market has shown a potential for growth of the technology sector.

Driven by systematic operation and constant innovation, Riversong has developed a creative product portfolio ranging from basic smart gadgets to AI innovation. Their products are enjoyed in more than 25 countries, serving over one-fifth of the world’s population.

RIVERSONG’s devices with cutting-edge technology, housed in attractive cases, are the perfect lifestyle partners that one would love to flaunt. RIVERSONG is committed to bring premium products with people-oriented designs and excellent customer services with a vision to become a brand that deserves your love.

According to the RIVERSONG’s Global COO – Sales, Syed Ali Yousuf, “this rising smartphone usage in the region has accelerated the growth of the relatively new segment. This provides an opportunity for RIVERSONG to further penetrate the regional market with its unique and premium qualitative products with best possible pricing. Riversong products are not only of great quality but also the very first brand to introduce 1 year replacement warranty in Pakistan.”

“We are constantly working towards making Pakistan a smarter country by offering latest technology in our products and keeping up with the tech trends globally. Our aim is to reach every nook and corner of the country through the rapid expansion plans we have”. Syed added.

“We are aiming to target 25% of the market share in Pakistan by end of 2022. Our competitive product portfolio, ranging from basic smart accessories to smart devices, are indeed a perfect fit the region’s constantly evolving demands.” noted Syed.

Riversong is a mobile accessories brand, based in California, with its premium products and presence in more than 25 countries across Europe, Middle East, Africa & South Asia has become the fastest growing global brand. Riversong is offering accessories like Power Banks, Smart Watches, Fitness Bands, Car Chargers, Wall Chargers, Cables, Earphones and Headphones. All the products come with a one-year replacement warranty.

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