Carrefour, Alkhidmat Foundation to support less privileged in Ramazan
Carrefour, owned and operated by Majid Al Futtaim in Pakistan, has teamed up with Alkhidmat Foundation for the provision of humanitarian aid. The collaboration is set to provide meals to the less privileged during the month of Ramazan in Pakistan and to support the victims of recent earthquakes in Türkiye and Syria. The bipartite memorandum of understanding was signed by Majid Barzegar, District Manager of Carrefour Pakistan and Engr. Ahmad Rashid, President AlKhidmat Foundation Lahore during a special ceremony held at Head Office of AlKhidmat Foundation in Lahore.
Customers have the opportunity to give back to the local community this Ramadan by purchasing special, pre-packed boxes filled with essential food items such as rice, flour, oil, dates and pulses. These will be distributed to families to stop them from worrying about their next meal. In addition, earthquake relief boxes comprised of shelter supplies, clothing, and non-perishable food items are available for customers to buy and donate at all Carrefour stores.
Umer Lodhi, Country Manager of Carrefour Pakistan at Majid Al Futtaim Retail said, “We believe in the power of collective action and community support. We are greatly pleased to join hands with Alkhidmat Foundation to play our part in eliminating food hunger in the country, whilst providing relief to those affected by the earthquakes in Turkiye and Syria. We hope our combined efforts will make a positive impact on those who need it the most.”
The leading retailer recognises its role in providing support to the less privileged in the country and maintains its mission to uplift its surrounding communities. This collaboration joins international appeals to help the victims of Türkiye and Syria, demonstrating Pakistan’s efforts to be at the forefront of extending all possible relief assistance despite facing its own challenges.
ABHI joins hands with Master Group to provide AbhiSalary
ABHI, an embedded fintech company, has signed an agreement with Master Group of Industries, operating in bedding, textile, automotive, chemical, furniture, and renewable energy industries. AbhiSalary will enable Master Group’s employees to access their earned wages ahead of their scheduled payday, empowering them with greater financial flexibility and control.
AbhiSalary allows employees to access a portion of their earned wages before payday within 30 seconds, giving them the ability to manage their finances more effectively. By partnering with Master Group, ABHI will be able to expand its reach and provide financial wellness to a wider range of employees across the country and financially empower Pakistan.
“We are thrilled to partner with Master Group and provide their employees with AbhiSalary,” said Mohammad Zaidi, Director of Business Development & Sales at ABHI. “The financial wellness benefit is designed to help employees access their salaries flexibly and reduce their reliance on expensive payday loans and other forms of short-term credit. By partnering with Master Group, we can help even more employees take control of their finances, achieve their financial goals.”
Instituted in 1963, Master Group is a leading manufacturer of bedding, textiles, chemicals, automotive, engineering, and power solutions, with a strong reputation for employee wellness. The partnership with ABHI is part of Master Group’s commitment to supporting its employees and providing them with the tools and resources they need to succeed.
“ABHI is part of Master Group’s commitment to supporting its employees and providing them with AbhiSalary to be happier at work,” said Mr Abubakar Alvi, General Manager HR at Master Group. “We believe that providing our employees with greater financial flexibility and control is an important part of our commitment to their overall well-being, and we are confident that AbhiSalary will help us achieve that goal.”
Thrilling 7th PARCO T20 tourney ends with OGDCL emerges winner
The 7th edition of Pak-Arab Refinery Ltd (PARCO) T20 Cricket Tournament reached its conclusion with an exciting final between Oil and Gas Development Company Ltd (OGDCL), and Pakistan State Oil Ltd (PSO) at Moin Khan Academy, Karachi. The much-anticipated match saw a thrilling display of cricketing talent and sportsmanship from both sides, as they battled it out to claim the coveted trophy. The grand closing ceremony was attended by distinguished guests from sports and media fraternity, and top executives of leading companies.
In a nail-biting finish, OGDCL emerged victorious by defeating PSO by 14 runs, Muhammad Bilal played a pivotal role in his team’s success.
Speaking at the event, Mr. Shahid Mahmood Khan, Managing Director PARCO, expressed his delight at the success of the tournament. He extended heartiest felicitations to team OGDCL for winning the 7th PARCO T20 Cup and praised all the participating teams for their sportsmanship and commitment to the game.
PARCO vows to continue initiatives that provide healthy engagements and strengthen the bond of the fraternity. The success of 7th PARCO T20 Cup is a testament to the company’s commitment, as it looks forward to organizing similar events in future.
PARCO has been organizing the industry cricket tournament since 2015. This year, 12 leading companies from Pakistan’s petroleum industry participated in the PARCO T20 Cup for 33 nail-biting matches. PARCO, TOTAL PARCO Pakistan Ltd, Shell Pakistan Ltd, Cnergyico PK Ltd, Pakistan State Oil Ltd (PSO), Oil and Gas Development Company Ltd (OGDCL), Pakistan Petroleum Ltd (PPL), National Refinery Ltd. (NRL), Attock Petroleum, Pakistan Refinery Ltd (PRL), Hascol Petroleum Ltd, and United Energy Pakistan Ltd competed for the cup and made the event memorable with their participation.
Saudi-Iran deal a huge success for China
- Pakistan can benefit greatly from this agreement
- India’s ambitions can be jolted: 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 Monday said the agreement between Saudi Arabia and Iran to reduce tensions and restore diplomatic relations is a great diplomatic achievement of China.
After this surprising decision, China’s reputation at the global level and its influence in the Middle East have increased, while Pakistan has breathed a sigh of relief, he said.
Mian Zahid Hussain said that Saudi Arabia and Iran have remained locked in an indirect conflict in Yemen, Syria, Bahrain, and Lebanon and on almost every forum for a long time.
But now, there is hope for an end to the civil war and armed confrontation which will improve the overall environment in the Middle East, he added.
Talking to the business community, the veteran business leader said that both countries will save billions of dollars in terms of war expenses if the agreement remains successful.
That Saudi Crown Prince Mohammed bin Salman is emerging as a statesman and under his guidance, Saudi Arabia has also improved its relations with Qatar.
Saudi Arabia has recently deposited five billion dollars in the central bank of Turkey and due to all these measures, Prince Muhammad bin Salman and Saudi Arabia have emerged taller on the world stage.
Mian Zahid Hussain added that Saudi Arabia and Iran are becoming friends as a result of China’s successful diplomacy which has shaken the western world. Pakistan should see this development as a success as it has very close relations with China, Saudi Arabia, Iran, Syria, and Turkey.
Pakistan is keen to increase trade ties with Iran and KSA to better meet its energy needs, support the issue of Kashmir, and expansion of CPEC.
In this regard, our policymakers have to take care to increase relations with Iran in a way that doesn’t offend America at any cost because America is the largest buyer of our exports, it is giving us aid and loans, a large number of remittances are coming in from the US and it has a lot of influence in international institutions like the IMF.
Mian Zahid Hussain said that the agreement may result in some distance between India and Iran as China’s influence is growing in Tehran and after this deal, Israel’s problems will increase.
He noted that after India’s response to the recent anti-government protests in Iran, the Iranian Foreign Minister has canceled his visit to India, and if the tension between the two countries continues it will hit Indian ambitions.
The Indian dream of reaching Afghanistan and Central Asian markets through Chabahar port will remain unfulfilled which will be a big setback for New Delhi.
Good leadership bring country out of crisis, not IMF: Mian Zahid
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 March 17 said it is not IMF debt that brings countries out of the crisis, but good leadership.
If leadership is based on principles and the expenditure is not more than the income then there is no question of a financial crisis in the country, he said.
Mian Zahid Hussain said that the number of countries that need IMF support can be counted on the fingers, while around one hundred and seventy countries have never tried to seek IMF’s help.
Talking to the business community, the veteran business leader said that irresponsible countries empty the treasury through extravagant spending, losses of government institutions, electricity, gas theft, and elitism and then they themselves ask for loans from institutions like the IMF.
Politicians invite such institutions to interfere in the country’s affairs for loans, after which they try to prove themselves innocent in the eyes of the people by complaining about the strict conditions.
Mian Zahid Hussain said that wrong economic philosophies first bankrupted Sri Lanka and now it is the turn of other countries where politics is given priority over the economy due to which their economies have been destroyed and poverty is increasing.
A country having irresponsible leaders face the risk of default and it is left with no option but to bow to every demand of the lenders and the people have to bear the entire burden who has nothing to do with the wastage of funds and other related matters.
Mian Zahid Hussain further said that the weak countries are given a clear message in the negotiations that either accept all our conditions or declare bankruptcy as there is no third option.
According to the available data, from July 2018 to June 2022, the devaluing of the currency has increased the debt burden by Rs9,712 billion while Rs2,835 billion has been added to debt servicing on account of interest payments.
Due to these two policies alone, the country’s debt and interest payments increased by Rs12,548 billion. During these four years, according to the average value of the dollar the country’s debt has increased by Rs79 billion without taking a single rupee as a loan.
PTCL group celebrates women’s day with pledge to embrace equity
Pakistan’s largest integrated ICT provider, PTCL Group (PTCL & Ufone 4G) celebrated International Women’s Day 2023 at its Islamabad Headquarters. Saadia Khan, Ex-Commissioner of the Securities and Exchange Commission of Pakistan (SECP) graced the event as a chief guest while prominent Jordanian molecular biologist, Dr. Rana Dajani also joined the event remotely.
The theme for this year’s International Women’s Day is ‘DigitAll Innovation and Technology for Gender Equality’, which emphasizes the role of technology in empowering women and promoting gender equality. PTCL Group realizes that bringing women into technology results in more creative solutions and has greater potential for innovations that meet women’s needs and promote gender equality. Therefore, it is committed to leveraging its technological expertise to create opportunities for women and provide a more inclusive workplace where women can thrive and excel.
The event showcased PTCL Group’s commitment to gender equality and women empowerment through its various gender-focused initiatives. Sharing his thoughts, President and Group CEO, PTCL & Ufone, Hatem Bamatraf said, “As we join the world in commemorating International Women’s Day, we reaffirm our steadfastness in embracing equity in all aspects of our organization. At PTCL Group diversity and inclusion remain the key drivers of innovation, success, and progress across all our operating companies, PTCL, Ufone & Ubank. Therefore, we remain dedicated to create a workplace where all our team members regardless of their gender, feel valued, respected, and empowered to reach their full potential. Our D&I-focused initiatives break down gender-related barriers to help women co-workers/team members to concentrate solely on their personal and professional growth and gratification.”
Employees pledged to embrace equity during the event by sharing their pledges on the pledge wall. The event was followed by Hi-Tea hosted by Pink Club, an exclusive all-female club at the organization. Employees also participated in the campaign “The woman in your life,” where they enthusiastically shared personal stories about the women who helped shape their lives and guided them to personal and professional success and gratification.
The event also saw the launch of the DIGIHER Hackathon, an initiative to give talented women the opportunity in the technology field to create usable solutions with a specific outcome in mind. This will include analyzing case studies, collecting extensive data, assessing possibilities, and proposing solutions for business-critical technology-related problems. The event concluded with a surprise performance by Nimra Rafiq who has previously released a couple of hit singles. The audience thoroughly enjoyed her power-packed performance.
International Women’s Day celebrations are an annual affair at PTCL and Ufone 4G which provide the group with the opportunity to reaffirm its pledge to diversity and inclusion. The Group remains committed to its goal of creating an inclusive workplace that values diversity and promotes equity, to set the right precedent for society.
Pakistan Cables signs MOU with STEAM Pakistan
Pakistan Cables signed a Memorandum of Understanding (MOU) with the Pak Alliance for Math & Science Welfare Trust (PAMS) to partner for employee volunteering through STEAM Pakistan. STEAM Pakistan is a collaboration between the Malala Fund and the Ministry of Federal Education & Professional Training.
Pakistan Cables will partner with STEAM Pakistan by putting forward volunteers that will promote subjects of science, technology, engineering, arts and mathematics (STEAM) among students of secondary classes of Government schools through experiential learning.
Pakistan Cables Ltd is an active advocate of the UN’s sustainable development goals – SDG 4 (Quality Education) and SDG 5 (Female Empowerment). Previously having rolled out ASCEND, its flagship initiative, to promote science and engineering related fields by offering scholarships and internships among female students among leading public sector engineering universities of Pakistan. The collaboration for STEAM Pakistan is the second major initiative by the Company illustrating its commitment to youth empowerment.
Arçelik establishes global research and development center at NUST
The parent company of Dawlance, Arçelik has established its second R&D center in Pakistan at the National University of Science and Technology (NUST). Arçelik is the 2nd largest manufacturer in Europe, operates in 53 countries with 83 subsidiaries has 30 R&D centers around the World.
Arçelik produces leading sustainable and innovative home appliances products at its, cutting-edge technologies in nine countries. For fostering innovations in Pakistan, Arçelik established an R&D center in Karachi in 2017 just after the acquisition of Dawlance and now is making a new investment to establish an Arcelik Global Research & Development (R&D) Center, at the National University of Sciences & Technology (NUST), in Islamabad to accelerate its effort to grow in Pakistani market. The new R&D center was inaugurated with a ceremony attended by the Pro-Rector of NUST RIC – Air vice Marshal (Retired) Dr. Rizwan Riaz, the President of Koç Holding Consumer Durables Group Dr Fatih Kemal Ebiçlioğlu, Arçelik Chief Commercial Officer of Turkey and South Asia Can Dinçer, Arçelik Chief Production and Technology Officer Nihat Bayız, CEO of Dawlance Umer Ahsan Khan and Pakistani officials.
Arcelik’s Executive Director of R&D – Mr. Emre Oğuz and the Chief Executive Officer of Dawlance (Pakistan) – Mr. Umer Ahsan Khan signed this historic agreement, at the NUST University in Islamabad, along with Pro-Rector RIC – Air vice Marshal (Retired) Dr. Rizwan Riaz. This initiative will deploy highly qualified engineers to train the youth in modern skill sets for creating a globally competitive workforce in Pakistan In the inauguration, Dr. Fatih Ebiçlioğlu, President of Consumer Durables at the parent company of Arcelik – Koç Holding, stated that “Consistently creating value for our stakeholders, expanding and diversifying our global reach, and putting our customers first are the pillars of Koc Holding’s vision. We see Pakistan as a key developing market for local manufacturing, R&D and future export hubs. Pakistan is a very high-potential country in information technologies and is well on track to become a leader in STEM. We believe that the R&D center in NUST will serve to the strategic national objective of the country. Focusing on software development, this R&D center, marking first among our 30 R&D centers of Arçelik, will support the needs of all Arcelik subsidiaries worldwide.
Arçelik plays a leading role in global home appliance industry thanks to its R&D skills and its commitment to developing sustainable, innovative, smart, digital home solutions. Innovative technologies introduced to consumers in Pakistan promise up to 50% conservation of energy, promise environmental sustainability and protect the Ecology of the planet for future generations. Vitamin Fresh technology at refrigerators increasing vitamin retention in the fruits/vegetables in crisper while Nature Lock technology increasing the life of vegetables, reducing food waste and costs to consumers. Aqua Smart washing technology has special cycles to reduce water consumption. Blast Air Conditioner, which offers a 30% stronger air flow, enhancing comfort and convenience are among the innovative Technologies of Dawlance.
Arçelik’s R&D center in Karachi caters to all product categories in Dawlance, including Refrigerators/Freezers, Split ACs, Washing Machines, Water dispensers, TV & Small Domestic Appliances (SDAs). Expertise exists in all fields of product design & development including structural design, modeling/analysis, system design and testing, embedded software design, design implementation. Only appliance manufacturer in Pakistan with this capability.
The CEO of Dawlance – Umer Ahsan Khan stated that: “Arcelik’s partnership with NUST – the premier technology institute in Pakistan, shows our commitment to foster technological advancements in Pakistan and enable the professional development of the youth. Arçelik has been making healthy investments to foster research, modernize production and provide the highest quality products. The young engineers at NUST will gain valuable experiences, by learning about Arçelik’s global quality standards, regulatory compliance and best practices.”
The Pro-Rector RIC of NUST – Air Vice Marshal (Retired) Dr. Rizwan Riaz said “We are thankful to Arçelik for working directly with NUST to utilize the research-centric environment of this prestigious engineering institution, to complete its ongoing and futuristic R&D projects. This partnership will enable the development & testing of IT solutions, pertaining to the home appliances category, as Arçelik is expanding its footprint in Pakistan and other Asian countries, to show its confidence in the talents and scientific potential of the youth.” The entire infrastructural & running cost of this venture will be managed by the Arçelik team. This initiative will also help in gaining deeper insights into the local consumer’s needs and preferences to develop innovative solutions, based on the needs of the Asian markets. Large volumes of data will be collected & shared with the Arçelik team, for exploring the possibilities to export IT solutions, globally.