Jazz and Ericsson to impart digital skills among entrepreneurs to boost local innovation-Press Releases
Aamer Ejaz, Jazz’s Chief Digital Officer at Jazz signing the agreement with Aamir Ahsan Khan, President and Country Manager of Ericsson Pakistan, to launch digital skills program for entrepreneurs.
Jazz, Pakistan’s leading digital operator, has partnered with Ericsson (NASDAQ: ERIC) to boost digital skills for their entrepreneurial community in Pakistan through the Ericsson Educate program with an aim to accelerate local innovation.
This year long partnership comes under Jazz xlr8, Pakistan’s premier accelerator program for startups, and aims to solidify Ericsson and Jazz’s mission to enhance the nation’s digital skills and increase access to education in the country.
Promoting the portal locally through Jazz’s own youth-oriented programs, Jazz will also work towards upskilling local talents and increasing the readiness of youths for jobs in the telecom and ICT sectors.
The Ericsson Educate platform will strengthen the Information and Communication Technology (ICT) skills of selected youth through a well-curated online course on 21st-century technologies that include 5G networks, Internet of Things (IoT), automation, Artificial Intelligence (AI), and Machine Learning (ML). Upon successful completion of the course, participants will receive Ericsson-accredited digital badges of recognition, boosting their portfolios in the job market.
Commenting on this momentous development, Aamer Ejaz, Jazz’s Chief Digital Officer said, “We are thrilled to partner with Ericsson to elevate digital skills in youth and entrepreneurs across Pakistan. Being inclusive, scalable, and easy to use, Ericsson Educate will help us provide participants access to quality educational content on some of the most transformative digital technologies revolutionizing the nation today.”
Aamir Ahsan Khan, President and Country Manager of Ericsson Pakistan, said, “By leveraging our strong global expertise in the industry 4.0 space, Ericsson will also support Jazz to conduct webinars run by Ericsson experts focused on emerging and next-generation technologies, providing participants valuable insights to prosper in the digital age.”
Through close collaboration with Jazz, the Ericsson Educate program will offer adequate and inclusive learning opportunities to upskill the digital talents of youth and entrepreneurs across Pakistan, in turn accelerating the digital development of the country.
Jordan Kuwait Bank Selects Codebase Technologies’ Digibanc Platform for Digital Onboarding and Instant Credit Services
Jordan Kuwait Bank (JKB), one of Jordan’s leading financial institutions, has partnered with Codebase Technologies, one of the fastest growing open API banking solutions providers in the world. JKB will launch its omnichannel digital onboarding service using Digibanc, Codebase Technologies’ award-winning digital banking and fintech platform. The Bank will also leverage the platform’s instant credit decisioning engine to enable instant credit card issuance. The Digibanc platform will serve as a foundation for JKB to innovate existing customer experiences as well as launch future digital products, services and customer journeys.
Haethum S. Buttikhi, Chief Executive Officer at JKB, commented, “The banking landscape has changed significantly in recent years, and digitalization has played a key role in reshaping the interaction between banks and their customers. We believe that innovation and a digital-first strategy are key to ensuring a sustainable competitive advantage in the market. We chose Codebase Technologies as our technology partner because they provide and share our customer-centric philosophy and their Digibanc platform will enhance our ability to quickly adapt to the evolving needs of our customers and business.”
Jordan has increased its financial inclusion rate from 33.1% to 43.1% in recent years, according to Central Bank of Jordan’s data1, and Jordan had 66.8% mobile penetration in January 20212, according to DataReportal. Jordan’s major financial institutions are increasingly adopting digital-first strategies to bridge the gaps in financial inclusion, increase competitiveness and capitalize on the benefits of digital banking. Enhanced collaboration between financial institutions, regulators, fintech and government agencies has made Jordan one of the fastest growing fintech hubs in the MENA region. The digital onboarding and instant credit services initiatives with Codebase Technologies are one of the many steps JKB is taking to transform into a digital-first bank focused on customer-centric innovation.
“Today’s banks must constantly innovate, adapt to changing business dynamics, and integrate emerging technologies into their technology stack while collaborating with a variety of partners and third-party providers. Speed to market is a challenge many banks face as they go digital-first, however Digibanc as a digital banking platform offers the right combination of speed, agility, and innovation potential to allow us to adapt to the needs of our customers.” commented Suhail Salman, Head of Retail Business at JKB.
The upcoming proposition will leverage multiple market-ready components and integration capabilities available on the Digibanc platform that can seamlessly integrate with JKB’s existing IT and core banking infrastructure, credit bureaus and National ID Database. Digibanc’s component-based architecture and market-ready solutions will accelerate the projects time-to-market and ensure rapid scaling for JKB’s innovations in the future.
“This is an exciting time for the Jordanian banking industry and the local fintech ecosystem. This partnership is a great opportunity to jointly drive innovation in the Jordanian banking and fintech sectors. We support JKB’s digital-first vision and help the Bank become more agile. Digibanc serves as a foundation to foster collaboration, innovation, and co-creation of unique experiences and services for their customers.” added Tamer Al Mauge, Managing Director of MENA at Codebase Technologies.
Low growth, high inflation and unemployment expected in 2023: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said the growth rate will remain low in the coming year while inflation and unemployment will increase.
Interest rates are likely to rise further in 2023, profits of many companies will decrease, many businesses will run on almost zero profit and many will bankrupt, he said.
Mian Zahid Hussain said that in present circumstances, any further delay in reviving the IMF programme would be tantamount to suicide.
Talking to the business community, the veteran business leader said that at present the state of the country’s economy is critical and Pakistan also has to repay a huge amount of loans which has become a big problem.
Finance Minister Ishaq Dar wants to bring the dollar to two hundred rupees, while the majority of economists are calling it impossible, he said.
The business leader said that the finance minister is not ready to leave the dollar unregulated at any cost because it will weaken the rupee and increase inflation in the country.
On the other hand, the IMF wants to remove all controls on the dollar which will push its value to Rs250 to 275 but this will also increase exports and remittances.
The dispute has led to a deadlock in talks between the government and the IMF, which is unnerving investors.
Mian Zahid Hussain further said that the difference between the official price of the dollar and the open market rate has increased to 25 rupees, which is establishing a parallel market.
The present situation is a blessing for those who are involved in illegal hundi business while Pakistanis living abroad are also sending money through illegal channels due to which the remittances have decreased by 15% and the country’s problems are increasing.
Mian Zahid Hussain further said that the IMF is pushing for reforms agreed upon in the agreement so that country’s financial position improves, the risk of bankruptcy can be avoided and the government does not have to borrow every two to three months but the government is worried about the public response.
Government is not able to make a firm decision due to fear but it should restore the IMF programme as soon as possible so that the IMF pays the tranche of the loan, after which friendly countries, other international organizations and investors will also start giving loans to Pakistan and things will improve temporarily.
If Pakistan’s debts are restructured and there are no reforms, soon Pakistan will have to face the current situation again.
State Life Insurance celebrated a remarkable milestone
State Life Insurance celebrated 50 years of its being in Pakistan. More than 50 of their offices were lit up all across the country along with a cake-cutting ceremony that was graced by the presence of State Life Pakistan’s Chairman. State Life Pakistan is the country’s only organization that has the trust of over 15 million policyholders.
ACCA explores the guidelines, new ideas for public sector professionalising
ACCA’s Public Sector Conference looks at the challenges facing the public sector and suggests ways forward to transform the sector.
The public sector needs to respond to multiple global challenges to create a safe, sustainable, and prosperous future that works for all.
ACCA’s virtual public sector conference explored the challenges and the solutions that face public sector financial professionals as they work towards transforming the public sector. Such a task would be a challenge at any time but it is made significantly harder by a combination of war, high rates of inflation and a pressing climate challenge.
Accountancy is at the centre of public sector transformation. Finance professionals need the right skills to improve financial management and drive policy and spending decisions. New thinking in the public sector has never been more important and the conference heard about ACCA’s recently published guides on professionalising the public sector, launched with IFAC on 18 November 2022, and green budgeting. Both strong examples of the new thinking required.
The conference also heard about the unenviable choices facing finance leaders in the public sector. In the opening keynote Public Purse Prioritisation – public finance during a cost of living crisis Vladyslaw Rashkovan, alternate executive director at the International Monetary Fund and former deputy governor of the National Bank of Ukraine, illustrated how tough spending choices were in a war zone, with trade offs between funding weapons or protecting citizens. He said: “Many hard choices exist over budget allocation. While slogans like build back better are great, winter is coming, and people cannot live on the streets. So, for donors and government the hard reality may bring unpleasant tradeoffs between the speed and quality of reconstructing of places where people are housed.”
Vladyslav added that there is a high and increasing demand for finance specialists to help rebuild Ukraine in multiple sectors. In the conference session, he set out 12 points that finance professionals should be addressing in war and post-war situations.
Sustainability reporting and assurance are evolving rapidly and will play an increasingly prominent role in the public sector. The conference looked at the International Public Sector Accounting Standards Board’s recent consultation aimed at developing overarching guidance on sustainability, with a fruitful discussion between Auditors General on how to provide effective assurance on future sustainability reporting in the public sector.
ACCA president Joseph Owolabi said: ‘ACCA’s 24,000 public sector members make an extraordinary difference to the lives of so many, playing a key role in the delivery of public services and setting the regulatory environment to meet societies’ global challenges.
“This conference – which comes at a crucial time for the public sector and looks at so many important topics – is a chance for them to reflect on the transformation they need to help deliver.”
Commenting on the conference, ACCA’s head of Pakistan, Assad Hameed Khan says: “It’s heartening to see senior public sector finance leaders, working at different levels in different countries, reflecting on the future challenges, opportunities and the key future skills required to succeed. Public financial management reforms in Pakistan, of which ACCA continues to be part, have gained momentum both in terms of existing and future public financial management systems as well as human capital development and capacity building.”
ICAP holds Grand Finale of National Finance Olympiad 2022
The Professionals Academy of Commerce wins NFO Champion Trophy
ICAP and Unilever Pakistan held the National Finance Olympiad 2022 Grand Finale in Karachi, showcasing Pakistan’s finance talent. 120 professionals from 40 teams across public and private sectors participated.
The event comprised 3 rounds i.e. the initial qualifying round where ICAP was supported by leading professional firms as Technical Partners, The second round had Harvard Simulation and Behavioral Assessment, which was led by Karachi School of Business Leadership (KSBL) as ICAP’s learning partners. In the final round, the top six teams i.e. K Electric, Unilever, Midas Safety, Shan Foods Private Limited, Lucky Cement Limited, and The Professionals Academy of Commerce, competed to lift the NFO Trophy. The Grand Finale encompassed three intriguing rounds, the Buzzer round, The Board Room, and 100- seconds.
The Professionals Academy of Commerce was judged as The National Finance Olympiad Champion 2022 followed by Shan Foods Private Limited and Lucky Cement Limited as 1st and 2nd Runners-up respectively.
Mr. Samiullah Siddiqui, FCA, Chairman PAIB Committee, and Council Member ICAP welcomed the participants and shared the concept and objectives of the competition. He said that the National Finance Olympiad is one of the Flagship Competition of the country, organized by ICAP, in collaboration with Unilever Pakistan, to unleash the finance talent and to engage finance professionals in their professional development in a unique way, by placing them against each other in a healthy competition and encourage them to discover their true potential, exhibit their talent and celebrate their competence in a befitting manner.
The finance competition has become one of the integral events of ICAP, as it offers a unique experience to finance professionals through expanding their knowledge and strategic thinking, challenging their boundaries, and winning tremendous recognition, he further added.
Mr. Ashfaq Yousuf Tola, FCA, President ICAP speaking on the occasion said that the financial services sector plays a crucial role in every nation’s socioeconomic development and finance professionals make up one of the economy’s most important and influential sectors. Chartered Accountants are the foundation base of the economy and by utilizing financial proficiency, the nation gets the right direction in various financial and economy-related matters. ICAP through its different key initiatives is playing an imperative role in nation-building, events like National Finance Olympiad provides an opportunity to exhibit and celebrate the talent of finance professionals in Pakistan.
The President congratulated the proud winners and showed gratitude to the NFO organizing team comprising Unilever, KSBL, PAIB committee, jury members, evaluators, ICAP Examinations Department, Information Technology Department, Marcom, and everyone who made this event a success. The event was attended by students, chartered accountants, council members of ICAP including finance leaders from several prominent companies of Pakistan.
A.P. Moller – Maersk supports flood relief efforts in Pakistan
The unprecedented floods that hit Pakistan during this year’s monsoon left devastation and victims in desperate need of immediate aid relief. Maersk supported various important relief projects across the country in collaboration with NGOs and Danish government entities.
A.P. Moller – Maersk (Maersk) has been unwavering in its dedication to supporting the communities where it operates by contributing assets, expertise, and capable talent for pro-bono projects, especially when it is needed the most. The record monsoon rains that impacted Pakistan this mid-year swept away infrastructure, inundated large areas of land and displaced and affected millions of people.
“Living our purpose of improving life for all by integrating the world, our relentless commitment to our community is paramount in everything we do. For years, we have partnered with reputable humanitarian organisations to support their relief efforts in Pakistan by providing our end-to-end logistics services and products to mobilise and accelerate the transportation of aid relief. During the floods, we activated projects with HANDS, the Danish Emergency Management Agency (DEMA) and UNICEF, providing urgent aid to the most affected areas in the country”, said Hasan Faraz, Managing Director, Maersk Pakistan.
During the early stages of the floods, sourcing local products from the larger cities of Pakistan and moving them to severely affected remote communities was one of the most immediate ways to provide urgent care to the victims. Maersk Pakistan teamed with HANDS, one of the largest non-profit organisations in Pakistan that specialises in disaster management. Thanks to its 35 branches’ network across Pakistan and access to more than 21,000 villages in 59 districts, Maersk was able to distribute essential non-perishable food items like grains, and flour-based baked goods to 450 families in Larkana and Dadu.
As part of a long-standing agreement and commitment, Maersk provides customs, transportation, and warehousing services to the United Nations Children’s Fund (UNICEF). During the floods, UNICEF has been receiving relief items from overseas, which are temporarily stored before dispatch to the affected areas for distribution. For this purpose, Maersk offered UNICEF a total of 50,000 square feet of warehouse space free of charge.
To date, an estimated 2.7 tons of cargo have been received at Maersk fulfilment centres, both strategically located near Port Qasim, the country’s second busiest port gate. The donations, which include mosquito nets, tents, and hygiene kits for women and children, require rapid deployment. Maersk, therefore, deployed a special on-site team to speed up the distribution and ensure the operation’s agility and efficiency.
Purifying water in the most critical areas
The Danish Embassy in Pakistan, in cooperation with the Danish Emergency Management Agency (DEMA), donated water purification modules to deliver clean drinking water to the people of Pakistan in flooded areas. Maersk’s customs clearance and transportation services enabled prompt delivery of the modules to Sindh, one of the provinces highly affected by water scarcity.
“The modules were lent to Pakistan to help address the shortage of clean drinking water, which worsened during the emergency. Maersk effectively supported us in clearing the equipment into the country and safely transporting it to the site. For us, it is key to count on the support of a trusted partner that can help us accelerate the provision of emergency assistance in crucial times. Thanks to the mobilisation of the water purification unit, we have managed to provide close to 3 million litres of clean drinking water to the communities in Khipro and vicinity,” said Jakob Linulf, Denmark’s Ambassador to Pakistan.
Employees from West and Central Asia offices have organised collection drives of non-perishable food, toiletries, clothing, and monetary donations that will be sent to Pakistan throughout November in cooperation with the Dar Al Ber Society Fund.
Descon aims for greener pastures with the launch of its agricultural division
Descon, one of Pakistan’s leading conglomerates, has officially announced its intentions to diversify in to agriculture by setting up a division called Descon Agri Businesses (DAB). This new venture seeks to innovate and improve upon the existing farm productivity and agriculture value-chain, helping provide the nation with nutritious produces and sustained economic growth.
Over the decades, Descon has led numerous large-scale projects in Construction, Power-generation, Oil-Refining, Chemicals and other diverse economic-sectors, in Pakistan and abroad. Its entry in to the agriculture sector is not entirely without expertise, as the company acquired shareholding in two innovative agriculture-based enterprises – ‘Vital Agri Nutrient’ (VAN) and ‘Vital Green’ (VG) at the start of this year.
VAN is a manufacturer of specialty fertilizers, soil amendments and bio-fertilizers working with farmers and corporate customers to deliver value-added farming solutions. VG provides access to credit, quality-inputs, actionable knowledge, digital tools and market outreach for farmers.
Other initiatives by Descon in this sector include the construction of a state-of-the-art fruit, vegetables, spices and herbs dehydration facility to provide high quality dried products for local and export markets, and a Himalayan Wellness Company, operational since 2019, exporting Himalayan pink salt and high-quality raw honey to the far east and other markets.
“Our entry into this sector seeks to disrupt agriculture value chains through innovative farming techniques, high-quality produce and greater support to the local farmer community. Our long-term goal is to deliver a sustainable agriculture business, unlocking economic opportunities for the local communities and our partners along the way,” said Descon Vice-Chairman, Faisal Dawood.
Utilizing its expertise in technology and by building potential synergies with agritech companies, Descon seeks to enable a sustainable future in farming leading to an increase in food-security, healthy-living and enrichment of local communities.
Malala and distinguished panel address challenges facing higher education
Nobel’s youngest peace prize winner, Malala Yousafzai, was part of a distinguished panel discussion on Building Higher Education Institutions for the 21st Century. Organised by the Oxford Pakistan Programme (OPP) and the Syed Ahsan and Syed Maratib Ali School of Education (SOE) at LUMS, the panel engaged a packed audience in discussing both challenges and opportunities.
Dr. Talha Jamal Pirzada introduced the panel and said, “One of the core aims of the OPP is to increase Pakistani representation at Oxford, and also bring Oxford to Pakistan, and this discussion is a humble effort to do just that.” Much of the discussion focused on access to quality education. Ms. Yousafzai strongly advocated for greater access, particularly for female students. “The future for girls in Pakistan relies on the quality of education they receive. The biggest inspiration for girls is seeing women progressing in their professional careers. Their success stories inspire them.”
Joining Ms. Yousafzai was LUMS Founding Pro Chancellor and visionary, Syed Babar Ali; Professor’s Stephen Blyth, Principal, Lady Margaret Hall and Dr. Nick Brown, Principal, Linacre College from the University of Oxford; and Dr. Faisal Bari, Dean, SOE. The panel discussion was moderated by Professor Dr. Adeel Malik, University of Oxford, and co-founder of OPP.
Dr. Arshad Ahmad, Vice Chancellor, LUMS, emphasised the role of exceptional learning in addressing grand challenges facing Pakistan and shared how the University’s Learning Without Borders perspective has led to a number of national high-impact interventions. “At the heart of Learning Without Borders are systems designed to put learning first in not only governance and decision making, but also in LUMS shared ethos.” He added, “Three indicators of exceptional learning and its impact can be seen in addressing issues about access, relevance and collaboration, all of which are grounded in LUMS values”.
Sharing his experiences from Oxford, Professor Blyth said, “Oxford and Lady Margaret Hall have done tremendous work to reduce barriers so that education is accessible to the most talented scholars regardless of their background.” Dr. Brown shared that Pakistani students are the least well-represented at Oxford, and OPP created by Pakistani academics aims to try and solve this problem. He added, “At Oxford, the debate has two pillars – access to quality education which is a basic human right, and access to talent.” Dr. Bari shared his views on the importance of infusing quality in education. “The challenge is not only to improve access to higher education in terms of statistics but by providing good quality education to yield the intended results.”
The discussion paved the way for a question-and-answer session during which the audience expressed their concerns about the higher education system in Pakistan and made suggestions for its improvement. The event concluded with remarks from Syed Babar Ali, “My hope is that universities including LUMS will produce future leaders, who are tolerant, liberal, open-minded and respect merit, and will think about Pakistan first and provide educational opportunities for all.”
Problem of food security will become more serious: Mian Zahid Hussain
Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on December 16 said a huge amount of cotton and food items will have to be imported due to the flood damages.
The imports will strain forex reserves and the current account deficit will cross the target of ten billion dollars.
Mian Zahid Hussain said that in the current situation the problem of food security will become more serious due to lack of resources with the government.
Talking to the business community, the veteran business leader said that due to floods and other reasons, cotton production has decreased by 40%, while rice production has decreased by 10% compared to last year.
He said that wheat cultivation has become impossible in various areas of Sindh due to floodwater due to which wheat production will be affected.
Textile and rice exports will be affected which will also damage export earnings exuberating the dollar crisis in the country, he added.
Mian Zahid Hussain said that falling prices of oil and other commodities may give some support to the country’s treasury, but it is not certain.
He noted that the agricultural sector is suffering from the lack of attention of the authorities, wrong policies, non-provision of credit, costly inputs, climate change, weak infrastructure, water theft, substandard agricultural pesticides and seed, and lack of research few to mention.
Due to the apathy of authorities, agricultural production is decreasing and poverty is increasing in rural areas which is causing mass migration.
In this situation, Pakistan had already become a food and cotton importing country before the flood and last year the government imported seventeen billion dollars worth of agricultural goods and now the situation is getting worse, he observed.
The government has announced a package for the agricultural sector while trying to find a solution to the lack of investment, but it is insufficient and the entire country, especially the rural population, will suffer the consequences of floods for many years.
If the government modernizes its country’s agriculture instead of distributing 17 billion dollars i.e. 4100 billion rupees to foreign farmers and companies every year, then Pakistan can become a country that exports agricultural products instead of importing them, he said.
Syngenta Pakistan and TCF to provide education to flood-affected children
Syngenta Pakistan Limited, a leading agriculture innovation and technology company — providing crop protection, biologicals, seeds, crop enhancement products and digital services to millions of Pakistani farmers, has pledged a donation of PKR 3 million to The Citizens Foundation (TCF) for the rehabilitation of TCF school in Badin district of Sindh province which was impacted by the recent floods.
In 2022, Pakistan witnessed unprecedented heavy rains and super floods which have caused devastation across the country. The education sector was not an exception to this havoc whereby over 2 million children were left without education as floods destroyed 27000 schools. The longer the schools remain closed, the greater the risk of children dropping out of school and facing learning losses emerge.
In Badin alone, over 250,000 people and approximately 48,800 families have been badly affected due to floods. Syngenta Pakistan, being a socially responsible organization, has stepped up to support the cause of education in partnership with TCF.
The donation cheque was handed over to TCF at a ceremony held in Karachi which was attended by Syngenta’s regional and country leadership teams along with the management of TCF. Speaking on the occasion, Zeeshan Hasib Baig – General Manager Syngenta Pakistan – stated: “We are excited to partner with TCF to support them in educating children from the farming community, which was severely impacted by the 2022 floods. We are very confident that these children will do well and contribute back for the betterment of their local communities and Pakistan.” Bushra Afzal from TCF said: “TCF is on a mission to provide education to the underserved communities in Pakistan. Syngenta Pakistan’s support for the rehabilitation of our school in Badin will help in making a difference today and for generations to come.”
Geo-economic and security issues discussed at International Maritime Symposium
National Institute of Maritime Affairs (NIMA), Islamabad organised two-day International Maritime Symposium (IMS), on the topic “Geo-economic Dimensions of Indian Ocean Region (IOR) – Opportunities for Region and Beyond” on 20 and 21 December 2022. Experts from home and abroad presented their views about the geo-economic importance of IOR.
The focus of second day proceeding was on maritime security in the context of regional connectivity. Air Marshal Zahid Mahmood, vice chief of Air Staff was the chief guest. Whereas Vice Admiral Abdul Aleem (Retd) moderated the session discussion. Vice Admiral (Retd) Iftikhar Rao spoke about the Maritime Threats & Challenges in Regional Perspective. He talked about the Malacca strait choke point and its importance to the world, especially to China. He also emphasized that Gwadar is a commercial port and its security is vital for economic dividends.
Dr. Christian Beuger, of University of Copenhagen, talked about the Security of Sealines of Communications (SLOCs) and emphasized collaborative strategy in IOR to meet the non-conventional threats, particularly to SLOCs. He opined that Pakistan is in a position to take the lead in this regard. While delivering talk, Prof. Dr. Azhar Ahmed, of Bahria University, was of the view that Geo- Economics is an instrument to achieve objectives of Geo-Politics. He underscored that without political stability no country can progress.
Air Marshal Zahid Mahmood highlighted the importance of maritime security and its linkage with national security. He emphasized on the need of developing operational strategies to meet the maritime security threats. Dr. Hassan Daud Butt, of Bahria University, spoke about the need of regional connectivity, both on land and over sea.
Senator Mushahid Hussain Syed, key note speaker, while deliberating on the current global security scenario, opined that it is the most dangerous decade after World War II. World is witnessing historic changes; economic and global powers are emerging from East. He was of the view that next war is expected to be at sea and not on land, therefore, Pakistan needs to ensure fool proof maritime security.
The message of Prime Minister of Pakistan was also read out during the session. While emphasizing the Maritime Security of Pakistan, PM opined that Pakistan is heavily dependent on its sea lines of communications because over 90% of Pakistan’s trade and almost 100% energy imports are through sea. Therefore, any disruption in maritime trade has serious repercussions for the national security. The government is well aware of this imperative and is providing all out support to maritime security apparatus especially to Pakistan Navy.
Vice Admiral Faisal Rasool Lodhi, Vice Chief of the Naval Staff was the chief guest of the closing session. He emphasized that effective security is essential to protect the expanding maritime economic activities in Pakistan, region and beyond. Pakistan, therefore, needs proactive diplomacy, well considered economic policies and risk management as important ingredients to harness and sustain the pace of development and potential growth.
The symposium was well attended by maritime professionals, security experts, academia, think tanks and media personnel.
CNS message on the occasion of International Maritime Symposium-2022
It is a matter of immense pleasure that National Institute of Maritime Affairs, is organizing 3rd International Maritime Symposium-2022 on the “Geo-Economic Dimensions of IOR – Opportunities for Region and Beyond”. The subject is important not only for Pakistan but also for the regional and extra regional countries. I am confident that this Symposium would provide a unique forum to a wide range of speakers: from inland and abroad, the maritime community, policy makers, academia and other stakeholders to deliberate and proffer recommendations on issues related to the “maritime connectivity” and in particular, on its economic opportunities and maritime security dimensions.
The importance of Indian Ocean Region needs no emphasis since it provides major connectivity routes for global trade, and contains vast natural resources such as oil, gas, minerals and seafood. It is imperative for the IOR countries to cooperate so as to accrue maximum dividends from the immense maritime economic potential. Pakistani ports have the desired transit and trans-shipment potential to contribute significantly towards economics renaissance through maritime connectivity in the region and beyond, including the land locked Central Asian Republics, Afghanistan and Iran for which Gwadar Port is ideally located. In this regard, Gwadar Port, designed to be a deep draught port, will consolidate geographical linkages, stimulate trade and propel Pakistan into a position of centrality and pre-eminence. Notwithstanding, certain elements inimical to the prosperity of Pakistan, do not wish to see this project succeed and the country progress economically. These elements are engaged in machinations including acts of terrorism to impede maritime connectivity related initiatives and undermine its dividends. It is our firm resolve to foil any such nefarious designs.
Pakistan Navy remains vigilant to safeguard our shared maritime interests with the international community and is a committed partner to maintain peace and order at sea. Pakistan Navy’s contributions in Combined Task Forces, Bi-literal and Multi-lateral naval engagements and Regional Maritime Security Patrols are manifestations of this commitment at the global level. There is, however, a dire need to critically analyze the Geo-Economic Dimensions of IOR for maximizing its benefits, identifying challenges and to suggest way forward to accrue maximum dividends while charting a comprehensive risk management strategy. I am confident that IMS-22 will yield pragmatic and meaningful recommendations in this regard.
I wish all foreign speakers and delegates a very pleasant stay in Pakistan and hope it is a rewarding and successful undertaking.
Golf enthusiasts support cause of education at TCF’S 19th annual golf tournament
Avid golfers of the city gathered at Karachi Golf Club to support education for less privileged children at TCF’s 19th Annual Golf Tournament on December 11. The tournament was hosted by The Citizens Foundation (TCF) – a leading non-profit organisation that builds and operates schools in the urban slums and rural areas of Pakistan – to raise funds and bring flood-affected children back to school in the midst of the flood crisis.
The TCF Golf Tournament, now in its 19th year, followed a Texas Scramble format and was attended by more than 140 golfers who formed a total of 36 teams. Among the participating teams, Dubai Islamic Team-1 emerged as the title winner, whereas Dubai Islamic Team-2 secured the runners-up title. During the presentation ceremony, prizes were awarded to the winners and runners-up.
Mr Atif Bajwa, the President and the CEO of Bank Alfalah, attended the tournament as the chief guest and distributed prizes during the presentation ceremony. As he addressed the audience, he voiced his support for the cause of education and stated “Bank Alfalah is looking forward to work with renowned charities such as the TCF to rebuild the lives of flood-impacted children for a successful way forward. In a disaster of unprecedented proportions, it only makes sense that all of us come together; people and entities to provide continuous support to those affected. Through our collective efforts to contribute to education, numerous impacted children will return to school, resume their learning journey and fulfilling their potential for a prosperous life ahead.”
After taking the stage, the Director and Co-founder of TCF, Mr Mushtaq Chhapra, said, “Every year, we are able to make a significant difference in the lives of the less privileged thanks to the generosity of the golfing community and the sponsors of this annual event. Because of our combined efforts to support education, thousands of flood-affected children will be able to return to school and pursue the path toward a better future.”
The categories in the competition were winner, runner-up, nearest to pin and hole in one. The main sponsors of the event were Bank Alfalah, Bank Al Habib, KIA Motors Pakistan, Bachaa Party, Dubai Islamic Bank, Habib Metropolitan Bank, Engro Corp, Cambridge Garments, and Jubilee Life Insurance. The in-kind sponsors include Interloop, Richa Leathers, Abbott, Uniferoz, and Pakistan Beverage Limited.
Shell Pakistan and Hyundai Nishat Motor launch co-branded lubricant products
Shell, the leading global supplier of finished lubricants for 16 consecutive years, has collaborated through Shell Pakistan Limited with Hyundai Nishat Motor Private Limited (HNMPL) to launch co-branded lubricant products exclusively designed for Hyundai vehicles.
The collaboration will create the fully synthetic, next-generation co-branded lubricant 5W-30 AH, specially formulated and built to keep the Hyundai vehicle’s engine running at full performance.
The Chief Executive & Managing Director of Shell Pakistan Limited, Mr. Waqar Siddiqui, expressed his commitment to introducing a fully synthetic lubricant and said: “We are pleased to work in cohesion with a world-class automobile producer like Hyundai to exclusively design this new lubricant formula for unmatched cleansing of the Hyundai vehicle engines, mile after mile, to ensure peak performance in the long run. We have a vision to promise the well-being of our consumers by providing environmentally sustainable solutions for the energy sector.”
The Chief Executive Officer of Hyundai Nishat Motor, Mr. Hasan Mansha, stated that “Hyundai Motors has complete trust in the high-quality lubricants and fuelling products, marketed by Shell, all over the world. This collaboration reflects the inspiration of both companies for innovation and greater reliability in automobiles, based on extensive research and development.”
Shell Pakistan Limited is an integrated energy company with unmatched expertise, resources, and technologies to meet the country’s growing demand for oil and gas. The collaboration is a testament to Shell’s commitment to delivering the best service to our valued customers. Hyundai Motor and Shell are dedicated to innovating for the betterment of their customer base and creating sustainable solutions that progress lifestyle.
Hyundai Nishat Motor (Private) Limited (HNMPL) strives to provide a wide range of automotive choices to the Pakistani market. HNMPL, with its values and standards of excellence, is working diligently to become Pakistan’s most trustworthy and valued automobile brand.
CBD — a flagship project on development landscape of Punjab
Punjab Central Business District Development Authority (PCBDDA), has registered Pakistan’s first business district Central Business District (CBD Punjab), as a flagship project on the development landscape of Punjab. CBD Punjab is a business hub that has emerged as an economic bone for the province of Punjab.
To upgrade the infrastructure of Lahore, the authority has started construction of CBD Punjab Boulevard and Kalma Chowk Underpass remodeling for a cost of Rs 4.2 billion. In order to complete the project on time out of a total of 2000 retaining piles, 1200 retaining piles have been completed in a very short period of time which is a great milestone. CEO of CBD Punjab, Mr. Imran Amin is personally overseeing the progress of the CBD Punjab Boulevard and Kalma Chowk underpass remodeling project and is spending more time with the technical team on-site and directed the employees of the authority to complete the project by February 2023, so that the residents of Lahore, can get relief from the temporary problems they are facing due to constructions works.
Executive Director Technical, of CBD Punjab, Mr. Riaz Hussain has said, that “The authority has allocated a budget of approx. Rs 11 billion for development works, along with the completion of retaining piles on the Kalma Chowk Underpass remodeling project, the construction of the parking plaza at the CBD Punjab project site is also in full swing. The pouring of the parking plaza roof has been completed today, almost 430 cubic meters (m3) of concrete has been poured into the roof of the parking plaza. As directed by our CEO Mr. Imran Amin to ensure the uninterrupted flow of traffic, we have expedited the construction work to the maximum”.
A comprehensive alternative traffic plan for the complete closure of Kalma Chowk underpass is being prepared which will be communicated to the public soon. The CBD Punjab administration is committed to completing the 365-meter-long underpass before the stipulated time for the convenience of the people.