Pakistan Banking Summit 2025: game-changer for financial sector
The Pakistan Banks Association (PBA) has officially announced the launch of the Pakistan Banking Summit 2025 (PBS’25), a landmark industry-led event set to take place on February 24 & 25, 2025, in Karachi.
The announcement was made at a press conference held at the PBA head office, led by Atif Bajwa, Chairman of the PBS Steering Committee & President and CEO -Bank Alfalah, joined by Zafar Masud, Chairman PBA & President & CEO – Bank of Punjab (BoP); Basir Shamsie, President & CEO – JS Bank; and Muneer Kamal, CEO & Secretary General – PBA, along with other senior banking industry officials.
Organised under the aegis of the Pakistan Banks Association, PBS’25 aims to advance finance and economic discourse in the country. It will feature 12+ prominent international speakers, 20+ local subject matter experts and convene leaders from over 45 institutions, including conventional, Islamic, digital and microfinance banks as well as development finance institutions. This historic gathering of 1,000+ representatives from the Government, regulators, banking, fintech, academia, media and corporate Pakistan represents a significant milestone for Pakistan’s financial sector.
Highlighting the significance of PBS’25, Atif Bajwa commented, “The Pakistan Banking Summit will offer an invaluable platform for the banking industry and its stakeholders to engage in critical conversations relating to emerging trends and opportunities for banking and finance. The summit aims to cover critical themes relating to global and local economic developments, the role of the banking sector in economic upliftment, priority sector financing, the future of Islamic banking, and digitalisation, to name a few.”
Elaborating on the role of the PBA, Zafar Masud said, “PBS’25 is a testament to PBA’s continued commitment to fostering economic progress, contributing not only on fiscal accounts but also through broader financial inclusion, sustainability and inclusive growth. By bringing together key stakeholders, this summit will serve as a catalyst for meaningful discussions and transformative solutions that will shape the future of the financial sector of Pakistan.”
Perspective of SYED ASAD ALI SHAH on Uraan Pakistan
Uraan Pakistan: A Business-as-Usual Fantasy
Ambitious promises, grand visions, but no clear path forward.
Uraan Pakistan aims for a $1 trillion economy by 2035 & $ 3 trillion by 2047, but “how” part is missing.
For instance:
Where are the plans to tackle inflation, debt, and sluggish growth?
How will we increase exports and economic growth without improving productivity?
How will energy shortages, SOE losses, and fiscal imbalances be addressed? where is the plan for major privatization?
Why is there no engagement with provinces, private sectors, or civil society?
Without structural reforms, realistic targets, and stakeholder ownership, this plan risks becoming yet another aspirational document—full of sound and fury, signifying nothing.
Let’s focus on solutions, not illusions.
WAFI Energy Pakistan reports pkr 3.3bn profit amid strategic expansion
The Board of Directors of Wafi Energy Pakistan Limited (WEPL) has announced the company’s financial results for the year ending December 31st, 2024. The company reported a profit after tax of PKR 3.3 billion for 2024 compared to a profit of PKR 5.8 billion in 2023. It is important to note that the 2023 results included a one-time income of PKR 10.7 billion related to the waiver of Shell Group liabilities.
Recently, Shell Pakistan Limited officially changed its name to Wafi Energy Pakistan Limited, with Wafi Energy Holding Limited, an established Saudi company and affiliate of the Asyad Group, becoming the majority shareholder, holding approximately 87.78% of the company’s total issued share capital. The Shell brand will remain in Pakistan through retail and brand licensing agreements, with Wafi Energy as the exclusive brand licensee.
The Lubricants business expanded its market share with Helix and Advance, while in the mining sector, the company achieved a premium win in the Saindak Gold and Copper mining project and established an exclusive partnership in the Thar Coal Project. The Mobility business also made significant strides, expanding its network by introducing 16 new sites and rebuilding 9 existing ones. The convenience retail business demonstrated strong growth, with a 28% year-on-year increase.
WEPL remains dedicated to operational excellence, safety, strengthening its financial position, and fulfilling its responsible role in society.
DWP Technologies completes Tier-III certified data centre for HEC
DWP Technologies has successfully designed, built, and deployed a state-of-the-art Tier-III Certified Data Center for the Higher Education Commission (HEC), marking a significant step toward strengthening Pakistan’s digital and academic infrastructure.
The data center was inaugurated during a ceremony held at NED University. The ceremony was attended by Federal Minister for Planning, Development and Special Initiative Prof Ahsan Iqbal, whereas Vice Chancellor NED University Dr Sarosh Hashmat Lodhi, Chairman HEC Dr Mukhtar Ahmad, CEO Huawei, Country Manager Networks, DWP Technologies Maqsood ur Rahman were also present on occasion.
The project was executed in two strategic phases, leveraging cutting-edge containerized solutions to enhance efficiency, security, and scalability for HEC’s growing digital demands. It is designed for a capacity of 4 megawatts, the facility stands as a future-ready hub, enabling seamless data processing and storage for Pakistan’s higher education sector.
Maqsood ur Rahman, Country Manager Networks, DWP Technologies, highlighted the significance of this achievement, stating, “This state-of-the-art data center is a testament to DWP Technologies’ expertise in delivering high-performance infrastructure solutions. By providing HEC with a robust and scalable digital backbone, we are enabling Pakistan’s higher education sector to thrive in the digital age.”
DWP Technologies transformed a raw piece of land into a fully operational, high-performance data center, demonstrating its expertise in executing large-scale infrastructure projects. The scope of work included complete civil works such as land leveling, foundation development, and infrastructure deployment.
The project also involved supplying and installing Huawei DC PODs, ensuring advanced data center infrastructure. Robust power solutions were incorporated, including generators, transformers, AVR, ATS, and Gen Sync Electrical Panels, to provide a stable and uninterrupted power supply.
Additionally, the facility was equipped with specialized structures, including custom-built Containerized Power Rooms, AVR Rooms, Gen Sync Rooms, Guard Rooms, NOC Rooms, and Conference Rooms, enhancing operational efficiency and security.
By equipping HEC with a resilient and future-proof digital infrastructure, DWP Technologies is empowering educational institutions with the digital backbone needed for research, innovation, and academic excellence.
KP Tobacco farmers fear crisis as govt moves to dissolve PTB
Tobacco farmers in Khyber Pakhtunkhwa (KP) are deeply concerned about the government’s decision to dissolve the Pakistan Tobacco Board (PTB), fearing that it will lead to financial hardship, market instability, and exploitation. Experts warn that this move could disrupt the entire tobacco sector, which plays a crucial role in Pakistan’s economy.
“The PTB has protected farmers from market volatility and unfair pricing. Without it, small farmers will be at the mercy of large companies and middlemen,” said an expert. He added that without proper oversight, farmers could struggle with low prices and income losses.
For years, PTB has ensured that farmers receive fair compensation for their produce, helping them sustain their livelihoods. Now, with control shifting to provincial governments, experts fear that the lack of infrastructure and expertise will lead to chaos in pricing and regulation.
In addition to threatening farmers, the decision could also weaken the national economy. The legal tobacco industry contributes PKR 237 billion annually in taxes and generates hundreds of millions of dollars in exports. Experts warn that provincial mismanagement could allow illegal tobacco trade to flourish, reducing government revenues and destabilizing the sector.
There is also growing concern about the broader impact on rural communities. Without steady incomes, many farmers may be forced to seek alternative means of survival, potentially leading to increased involvement in illegal activities.
The expert urged the government to reverse its decision and consult with industry stakeholders before making such a critical move. “The livelihoods of thousands are at stake,” the expert stressed. “Without PTB, farmers, the economy, and even national security could suffer.”
It is worth mentioning that in a recent letter to the finance minister, the Pakistan Tobacco Board (PTB) also strongly opposed its dissolution, calling it unconstitutional and illegal. PTB officials argue that tobacco has always been a federal subject due to its economic significance. They warn that transferring its regulation to provinces without new legislation could create conflicts over production, exports, and taxation. Citing examples like China, India, and Zimbabwe, they stress that tobacco should remain federally regulated, as in other major economies.
Private sector encouraged in digitization of trade
As the government accelerates the digitization of trade, the private sector, alongside regulatory bodies, is being encouraged to actively participate in the process. The government aims for a paperless and fully automated cross-border trade system.
These views were expressed by the Chief Executive Officer of Pakistan Single Window (PSW), Aftab Haider, during a meeting with a delegation led by Asif Parvez, CEO of Galaxefi.
During the meeting, the PSW chief was briefed on Galaxefi, which is, unlike other conventional companies, a cutting-edge digital trade solution set to transform cross-border trade by providing real-time solutions.
It was discussed that by enabling real-time tracking, automated documentation, and streamlined logistics, Galaxefi is poised to revolutionize the country’s cross-border trade. Unlike conventional platforms that still rely on outdated manual processes, Galaxefi offers a trustworthy real-time solution that ensures speed, transparency, and reliability.
The CEO of PSW congratulated and commended the company’s efforts in digitizing trade and providing real-time solutions. He emphasized that PSW is committed to encouraging private firms to automate trade processes—an agenda the government is pursuing tirelessly.
While the government has made significant progress through initiatives such as Digital Pakistan, Uraan Pakistan, and PSW, nearly 70% of private sector activities—including freight forwarders, NVOCCs, and related service providers—still rely on legacy systems. This reliance results in costly inefficiencies and missed opportunities.
The manual processing of post-shipment documentation and regulatory compliance has long hindered trade, leading to billions in lost revenue. As global competitors integrate real-time systems to optimize supply chains and accelerate transactions, Pakistan risks being left behind if immediate action is not taken.
The meeting also addressed the urgency of adopting modern trade technologies, which will be a central theme at the upcoming Pakistan Logistics and Shipping Summit (PLSS) 2025, scheduled to be held in Karachi on February 20, 2025.
Later, the CFO of Galaxefi, Asif Parvez, presented a memento of the company to Aftab Haider, CEO of PSW.
Standard Chartered Bank Pakistan & IFC look to enhance its un-funded Risk-Participation Programme to USD 400 million to boost access to trade finance
Building on the success of the existing USD 200 million PKR equivalent programme Risk-Participation Facility, Standard Chartered Bank Pakistan and the International Finance Corporation (IFC) are looking to enhance the programme size to USD 400 million.
The enhanced facility will enable SC Pakistan to continue to support short term-trade and working capital facilities for key large local corporates and exporters based in Pakistan.
A key milestone of IFC’s and Standard Chartered’s global collaboration, this programme will leverage their long-standing relationship with export-based and large-scale manufacturing industries in Pakistan through the enhanced availability of trade and working capital loan facilities, including supply chain financing and sustainable finance product suites. This will enable the generation of foreign exchange inflows – a key driver of sustainable economic growth in the country.
Rehan Shaikh, CEO & Head of Coverage, Standard Chartered Pakistan said, “We are proud to deepen our longstanding relationship with IFC through the enhancement of this pioneering agreement – a first of its kind between IFC and SC Pakistan. As a trade focused bank with an extensive presence across 52 markets in Asia, Africa and the Middle East, we play a vital role in expanding access to capital and liquidity and facilitating global trade. This collaboration with IFC enables us to support our clients in growing their businesses and strengthening their growth potential.”
Momina Aijazuddin, Regional Head of Industry of IFC’s Financial Institutions Group for the Middle East, Türkiye, Central Asia, Pakistan, and Afghanistan stated, “SMEs contribute 40% to Pakistan’s GDP, yet less than 200,000 out of an estimated 3.2 million SMEs have access to formal credit in the country. By strengthening our collaboration with Standard Chartered Pakistan and by looking into enhancing its Risk Participation Facility, we will aim to advance efforts to support SMEs and export-driven sectors with the working capital they need to grow and succeed.”
Pak-Industria and KCCI unite to boost trade and technology in Pakistan
Muhammad Hasan Masood, Managing Partner of PAK-INDUSTRIA (Pak Events & Exhibitions), along with his delegation, visited the Karachi Chamber of Commerce & Industry (KCCI) and extended heartfelt congratulations to the newly elected President, Mr. Javed Balwani, on assuming office. On this occasion, former President Mr. Idris Memon was also present. During the meeting, detailed discussions were held regarding trade cooperation, industrial development, and the promotion of Pakistani products.
New Avenues of Cooperation between PAK-INDUSTRIA and KCCI
During the meeting, the success of the PAK-INDUSTRIA ” Made in Pakistan Emerging Technologies Expo & Conference 2024″ was highlighted, and the objectives and prospects of the 2025 exhibition were discussed. Muhammad Hasan Masood emphasized that this event will play a crucial role in aligning the Pakistani industry with modern demands, boosting exports, and introducing local businesses to the global market.
He stated: “Our goal is to promote advanced technology, industrial development, and business opportunities in Pakistan with the cooperation of Karachi Chamber so that local entrepreneurs can gain more opportunities in the international market.”
KCCI’s Full Support and Endorsement of the “Made in Pakistan” Initiative
KCCI President Javed Balwani warmly welcomed the delegation and said:
“The Karachi Chamber will always be actively engaged in the economic development of Pakistan, the growth of local industries, and addressing the challenges faced by the business community. We will support every initiative that contributes to industrial development, export growth, and strengthening the business environment in Pakistan.”
He also praised the “Made in Pakistan” exhibition and recognized its core objectives as highly significant. He further assured that the Karachi Chamber would extend its full cooperation in advancing the “Made in Pakistan” initiative and ensuring the successful execution of the exhibition.
Presentation of the Commemorative Shield and Closing Moments
At the conclusion of the meeting, Muhammad Hasan Masood presented an honorary shield and a beautiful bouquet to Javed Balwani on behalf of Pak-Industria, which he graciously accepted. On this occasion, special prayers were offered for Pakistan’s economic growth, the success of the business community, and the advancement of the industrial sector.
Expressing his views, Javed Balwani stated:
“The doors of the Karachi Chamber of Commerce & Industry are always open for resolving business community issues and fostering industrial growth. We are working on projects with our professional team that will not only contribute to economic stability but also create new employment opportunities.”
The meeting concluded with the organizers of “Pak-Industria 2025” departing with the assurance of complete support from the Chamber.
Pakistan to become an economic power under PM, COAS: Mian Zahid Hussain
The Chairman of the National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of the All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Wednesday that the government’s decision to pursue sustainable development instead of rapid artificial growth for cheap fame is commendable. Sustainable development is not possible without important economic reforms, in which reforms in the tax and energy systems must be kept at the top of the list, he said.
Mian Zahid Hussain said that the prime minister and the army chief have ensured political stability in the country. Moreover, the pace of the elimination of terrorism, domestic and foreign investment, and economic reforms is satisfactory, and the efforts of negative elements are constantly failing in the face of the determination of our leaders. The approval of a loan of $40 billion by the World Bank is evidence of progress in the right direction, and the government will not face any particular difficulty in obtaining the next IMF installment. The business leader said that in developed countries, the entire economic system revolves around tax culture, due to which the people get a lot of relief. In contrast, in a country like Pakistan, a tax culture does not exist, and instead of direct taxes, indirect taxes are preferred, which has damaged the poor and the economy a lot.
Mian Zahid Hussain said that until the tax culture is not developed and the FBR gains the trust of the people, the growth rate will remain low, due to which the people will face the problem of unemployment and the government will face the problem of shortage of resources. The incompetent rulers of the past artificially increased the growth rate to throw dust in the eyes of the people, which brought the country to the brink of bankruptcy. This was saved by former Prime Minister Nawaz Sharif, current Prime Minister Mian Shahbaz Sharif, and Army Chief General Asim Munir. President Asif Ali Zardari, Mian Nawaz Sharif, Mian Shahbaz Sharif, the establishment, patriotic politicians, and the business community realize that political and economic stability in the country is very important, and all possible steps are being taken to achieve this goal, while on the other hand, a group of people who are afraid of consequences are busy digging the foundations of the country.
Mian Zahid Hussain said that slow development is sustainable, but unfortunately, serious efforts have not been made in this regard, which is tantamount to economic suicide. In the past, governments used to try to complete all development projects in their own time, due to which long-term planning could not be done, and this haste has ruined the country’s economy. Prime Minister Shahbaz Sharif and the Army Chief aim to lower the tax rate, but they cannot achieve this without raising the tax-to-GDP ratio. At present, industries are burdened by expensive electricity and taxes, while the export sector, construction sector, agriculture sector and other sectors are facing problems due to expensive electricity and high taxes.
Mian Zahid Hussain further said that the public, political parties, and the business community should cooperate fully to fulfil the vision of the Prime Minister and the Army Chief so that Pakistan can be made a strong economic power.
Logistics industry facing $36 billion losses due to offline trade
Pakistan’s logistics industry is facing annual losses of approximately $36 billion due to offline trade, which is also contributing to the loss of two to three million jobs in the sector. These concerns were highlighted by experts during the Pakistan Logistics and Shipping Summit 2025, held at a local hotel in Karachi on Thursday. Industry leaders emphasized that real-time solutions, including processing, tracking, and other digital facilities, are the only way to tap into growth opportunities and compete with the developed world.
While government processes have become nearly real-time, a significant gap remains, with approximately 70% of private sector activities, including those of freight forwarders and related service providers, still relying on outdated, manual methods.
Experts highlighted various issues linked to foreign trade, noting that only 40% of imported containers return as exports from Pakistan, indicating a serious imbalance in trade.
At the summit, industry leaders, government officials, and private-sector innovators gathered under one overarching theme: technology is the key to transforming Pakistan’s cross-border trade. The event’s keynote speeches and panel discussions made it unequivocally clear that the government is now fully backing public-private partnerships to build trust and enhance the nation’s trade efficiency.
According to keynote speaker Asif Pervez, Founder and CEO of Galaxefi Solutions, initiatives such as Digital Pakistan, Uraan Pakistan, and Pakistan Single Window (PSW) have laid a robust foundation for modernization. PSW, in particular, has digitized over 70 government agencies, streamlining customs, licensing, and regulatory processes that previously hindered trade operations.
However, technological gaps, hesitation from SMEs and stakeholders in adopting digital solutions, and slow-paced support for digitization are still preventing Pakistan from keeping pace with other developing countries. This disconnect is not merely a technological lag; it represents lost opportunities.
The CEO of Galaxefi emphasized that the private sector is ready and actively investing in state-of-the-art real-time systems. “Alhamdolillah, systems like Galaxefi are not only ready to complement PSW’s achievements but also provide the only true real-time, trustworthy solutions with full PSW support,” he declared. Galaxefi’s platform, praised for its cutting-edge integration capabilities and automation of critical trade processes, promises to revolutionize Pakistan’s logistics ecosystem. With real-time tracking, automated documentation, and seamless integration with government systems, Galaxefi is expected to significantly boost Pakistan’s export capacity, with projections suggesting an increase of up to 0.5 million TEUs by 2026.
Economist and panelist Jibran Hussain Raza remarked, “When our competitors embrace real-time systems, they secure trade deals faster, optimize supply chains better, and reduce operational costs dramatically. We risk becoming irrelevant if we do not bridge this digital divide.” The inefficiencies of post-shipment documentation and manual processing not only slow down trade but also result in billions of dollars in losses and a diminished global standing.
Another panelist, Amar Ahmed Mir, Domain Officer of PSW, stated that since PSW began operations in 2022, the organization has integrated various government entities and stakeholders into its system. It has also linked the private sector to facilitate a seamless public-private collaboration in foreign trade.
Responding to a query, he endorsed real-time systems as the solution for fully digitizing international trade, stating that PSW has supported and will continue to support private organizations like Galaxefi in introducing real-time facilities.
Najeeb Agrawalla, CEO of 1Link, also addressed the summit, stressing that in a world where every nation is racing toward digital transformation, Pakistan must not be left behind. Enhanced infrastructure, government incentives, and a supportive regulatory environment can transform the country’s 70% offline trade ecosystem into a dynamic, globally competitive digital economy.
During the summit, panelists emphasized that in the global push toward digital transformation, Pakistan cannot afford to lag. Enhanced infrastructure, government incentives, and a supportive regulatory framework are essential to revamping the country’s logistics sector and making it competitive on an international scale.
Zindigi & Commissioner Office Quetta Partner to Build a Smarter, Digitally Connected Balochistan
In a landmark move to accelerate digital governance and enhance public service efficiency, the Commissioner Office and Metropolitan Corporation Quetta Division have entered into a strategic partnership with Zindigi, powered by JS Bank, under a Memorandum of Understanding.
This partnership aims to digitize essential administrative functions in key departments across Quetta, Balochistan, utilizing Zindigi’s advanced digital platform to foster transparency, efficiency, and innovation.
The key focus areas of this initiative will include the digitization of land record management systems, employee attendance, and payroll management. Additionally, the collaboration will support programs such as the Polio Eradication initiative, further contributing to the social welfare of the region.
Zindigi’s role in this project extends beyond just systems management. The company will also provide a comprehensive Digital Financial Inclusion Program, ensuring that employees from both divisions have access to modern financial services, thereby bridging the digital divide.
Mr. M. Hamza Shafqaat, Commissioner of Quetta Division, remarked: “This partnership marks a transformative step in modernizing Quetta’s administrative infrastructure. By integrating Zindigi’s technological expertise, we aim to deliver faster, more reliable services to citizens while ensuring accountability and transparency.”
Noman Azhar, Founder & Chief Officer of Zindigi, expressed, ‘Zindigi has remained dedicated to driving Balochistan’s digital transformation over the past many years.
By connecting the region to the digital economy, we’ve helped create a dynamic digital ecosystem in one of Pakistan’s most underserved areas. The forward-thinking leadership of Commissioner Quetta, Hamza Shafqat, and his team has been a driving force behind these revolutionary changes”
The signing ceremony was attended by senior officials from both the Commissioner Office Quetta and Zindigi, underscoring the importance of this partnership in fostering progress and digital advancement in Balochistan.
This collaboration between the government and Zindigi represents a key milestone in the digital transformation of Balochistan’s administration, setting a benchmark for other regions across Pakistan. It also underscores Zindigi’s commitment, as a leading digital banking initiative in Pakistan, to reshape the nation’s digital landscape and position itself as a trendsetter in public-private partnerships.