Wafi Energy launches Shell’s next generation of fuels in Pakistan
Wafi Energy Pakistan, the exclusive licensee of Shell fuels and lubricants in the country, announced the launch of the new and improved Shell V-Power, marking a major milestone in premium fuel innovation for Pakistan’s motorists. With Shell’s century-long legacy of technical leadership, the enhanced Shell V-Power is a fuel designed with cutting-edge technology to deliver more power and better engine performance for our customers.
This launch is a continuation of Shell’s 78-year legacy in Pakistan, a journey that began in 1947 as Burmah Shell. Over the decades, Shell has played a foundational role in shaping the country’s energy landscape — from powering some of Pakistan’s first major industries, to contributing to national infrastructure projects. Shell has also pioneered innovations in Pakistan, including constructing the country’s first retail station using recycled plastic.
In 1970, Burmah Shell became Pakistan Burmah Shell, and in 1993 it evolved into Shell Pakistan Limited. Today, as Wafi Energy Pakistan, the company brings together Shell’s global expertise with Wafi Energy’s vision to be a long-term energy partner for Pakistan. Wafi Energy, a Middle Eastern company and Shell’s exclusive licensee in Saudi Arabia, is committed to driving economic growth, fostering innovation, and delivering advanced energy solutions tailored to local needs.
A representative from the Royal Embassy of Saudi Arabia in Pakistan shared: “The entry of Wafi Energy into Pakistan reflects the deepening bond between Saudi Arabia and Pakistan. We congratulate Wafi Energy for bringing aninnovative premium fuel to the market. And we wish the company success in upholding Shell’s legacy and becoming a shining example for other foreign companies hoping to enter Pakistani market.”
Javaid Akhtar, Director on the Board of Wafi Energy Pakistan, added: “The introduction of the new Shell V-Power is a testament to our promise of delivering the best in performance, efficiency, and innovation to our customers in Pakistan. This is more than just a fuel launch — it is an investment in the country’s mobility future.”
Looking ahead, Wafi Energy sees Pakistan as a country of immense potential — with its young population, growing industries, and strategic importance in the region. Wafi Energy will continue to invest and innovate in the energy sector, support communities through sustainable initiatives, and help shape a future-ready energy landscape that meets the evolving needs of the nation.
Standard Chartered Pakistan posts profit before tax of Pkr 32.9 billion
Standard Chartered Bank (Pakistan) Limited delivered a resilient financial performance with a profit before tax of PKR 32.9bn compared to PKR 49.3bn in H1’24.
The Bank posted a revenue of PKR 44.4 bn lower by 24% compared to H1’24, primarily due to a sharp reduction in interest rates. This was partially offset by an increase in non-funded income and a decrease in cost of funds. While expenses increased 13% on the back of inflation, investment in infrastructure and its people, the Bank continues to maintain an efficient cost to income ratio of 27%. A prudent risk approach and recoveries of bad debts led to a net release of PKR 0.6bn during the period.
On the liabilities side the Bank’s total deposits stood at PKR 697 billion down 17% from the start of the year. This was driven by a deposit optimisation initiative which is reflected in the improved current accounts mix comprising 59% of the deposit book as compared to 48% last year. On the assets side, net advances were higher by PKR 39bn or 23% during H1’25, reflecting a pick-up in economic momentum.
The Bank is investing in its digital capabilities and infrastructure to enhance our clients’ banking experience. We have made steady progress in further strengthening our control and compliance environment by focusing on our people, culture, and systems. We are fully committed to sustained growth by consistently focusing on our clients and product suite along with a prudent approach to building the balance sheet while bringing the best-in-class services to our customers. The Bank is well placed to cater for the needs of its clients and will continue its strategy to build a profitable, efficient and sustainable portfolio.
With a healthy Return on Equity (ROE) of 28.8% for the period and a Capital Adequacy Ratio (CAR) of 21.5%, the Bank remains well positioned for future growth. The Board of Directors were pleased to announce an interim cash dividend of 35% (PKR 3.50/- per share) in respect of the half year ended June 30, 2025.
Commenting on the results, Rehan Shaikh, CEO & Head of Coverage, Standard Chartered Bank (Pakistan) Limited said: “Our H1 2025 results demonstrate our strong business fundamentals. We recognise the challenging times ahead and are committed to supporting our clients and employees. While macroeconomic variables have had an impact on short-term performance, Standard Chartered Pakistan remains steady with a robust balance sheet, a diversified portfolio and deep client relationships. I am thankful to our shareholders, clients, and business partners for their continued trust in our capabilities.”
The Bank’s efforts in making a difference in the communities it works in are underscored through a variety of initiatives in H1’25. Through the launch of the SC Women in Tech Programme, Bank continues to address gender disparity in the technology sector. Through the Goal Accelerator Programme, a sport-powered initiative, Bank works to create concrete pathways for disadvantaged girls and young women to become economically resilient. The Bank has also partnered with Karachi United and launched the Seventh Youth League Football Tournament to promote sports amongst children for the seventh year in a row.
Mobilink Bank modernises to latest cloud native temenos core banking with Systems Limited
Pakistan’s leading digital microfinance bank, Mobilink Bank, has successfully upgraded its core banking system by transitioning from Temenos’ R17 to the R23 release of Temenos’ cloud-native core banking platform. The upgrade reflects Mobilink Bank’s ongoing commitment to technological innovation, operational excellence, and customer-centric digital transformation. The successful transition was made possible through strategic partnerships with Temenos, a global leader in banking technology, and Systems Limited, a pioneer in digital transformation services.
The upgrade brings significant enhancements in the banking system’s performance, scalability, and resilience. The new architecture enables seamless integration of advanced digital features, strengthens security and compliance, and ensures faster transaction processing with real-time responsiveness to deliver a future-ready banking experience for all customers.
“This is a paradigm shift,” said Haaris Mahmood Chaudhary, President & CEO, Mobilink Bank. “By adopting the latest cloud-native core banking technology from Temenos, we are laying the foundation for next-generation digital banking in Pakistan. Our customers can now enjoy faster, safer, and more seamless services, while we strengthen our position as a frontrunner in financial inclusion and digital innovation.”
Ammara Masood, GM Global Industries, Banking & Financial Services, Systems Limited explained, “We are proud to have led Mobilink Bank’s core modernization program, upgrading to the latest Temenos Transact on OCI using PCA-OKE. This new digital core unifies banking capabilities, cloud, data, AI, and security, enabling agility and continuous reinvention for the Bank. Leveraging our deep expertise and regulatory accelerators, we’ve set a new benchmark for large-scale digital transformations in the region.”
Customers can enjoy an upgraded digital experience, including seamless integration of features like digital onboarding and personal finance tools, making banking more convenient and accessible. On the backend, stronger security protocols and enhanced compliance reinforce customer trust and regulatory alignment.
Aamir Ibrahim, CEO, Jazz highlighted, “Mobilink Bank’s R23 transformation is a powerful example of how we are building the next generation of digital infrastructure in Pakistan. By combining world-class technology with our deep commitment to financial inclusion, we are creating faster, safer, and more accessible services for millions. This is more than a system upgrade – it’s a step toward a fully connected, cashless, and inclusive economy.”
The modular and scalable design of Temenos’ R23 release allows for quicker rollout of new services with minimal disruption. Enhanced diagnostics and backend visibility enable faster issue resolution and smoother service delivery. Internally, the system has streamlined workflows, reduced manual processes, and improved efficiency. Its advanced monitoring and independent service modules also ensure easier maintenance, continuous agility, and future-ready innovation.
Santhosh Rao, Managing Director, Middle East & Africa, Temenos, commented, “We’re thrilled to see Mobilink Bank take this bold step forward. Upgrading to our latest cloud-native core banking platform is more than a tech refresh. It’s a strategic move toward truly modern banking. With Temenos, digital banks like Mobilink Bank follow a proven path to innovate faster, scale smarter, and deliver exceptional customer experiences with confidence.”
This advancement is central to Mobilink Bank’s vision of redefining digital banking in Pakistan to deliver accessible, secure, and inclusive financial solutions across the nation.
Concerns grow over foreign-backed NGOs’ role in Pakistan
Concerns are mounting over the role of certain foreign-funded anti-tobacco organizations (ATOs) operating in Pakistan, with experts warning that their activities may be inadvertently fueling the country’s thriving illicit cigarette trade.
While these groups position themselves as public health advocates, their campaigns, particularly those pushing for higher taxation on cigarettes, have unintentionally encouraged the growth of the illegal market.
Pakistan’s illicit tobacco trade now accounts for more than 54% of total consumption, costing the national exchequer an estimated Rs 415 billion annually.
Experts highlight that CTFK and vital strategies fund local NGO’s in Pakistan, raising concerns about transparency and the risk of external influence on Pakistan’s tax and trade policies. In countries such as India and Mexico, similar organizations have faced regulatory action over allegations of lobbying, lack of disclosure, and bypassing national consultation processes.
“Public health is vital, but it must be balanced with economic realities,” said an expert. “When policies focus only on compliant businesses while ignoring the black market, the ultimate beneficiaries are illegal operators who pay no tax.”
A policy expert added that, “The goal is not to restrict NGOs but to ensure their work aligns with Pakistan’s national priorities. Stronger regulation and oversight will help guarantee that advocacy supports rather than undermines the fight against illicit trade. The government should also ensure the funding is used for the purpose it is meant for rather than against any anti-state activities, like done by international NGO’s in the past.”
DIB Champions Pakistan’s milestone at the UCI Tour De L’avenir
The Pakistan Cycling Federation (PCF) proudly announces a historic achievement: Muhammad Haroon General, a UCI-certified Road Elite National Commissaire, has been selected to officiate at the prestigious Tour de l’Avenir in France, from 23–29 August 2025.
This selection marks the first time a Pakistani commissaire has been invited to a UCI-sanctioned race in Europe — a breakthrough moment for Pakistan’s representation in international cycling governance. Only six commissaires were chosen globally across Asia, Africa, and the Americas after a highly competitive selection process.
Mr. General expressed his gratitude to the institutions that supported his journey: “The support of Pakistan Cycling Federation and Dubai Islamic Bank has made this milestone possible. It is a matter of national pride that Pakistan will now be represented in Europe not only by athletes but also by an official at the highest level of the sport.”
Dubai Islamic Bank (DIB), which enabled this landmark achievement, reaffirmed its commitment to empowering Pakistan’s talent and advancing global recognition for the country.
“At Dubai Islamic Bank, Progress Never Stops is more than a philosophy — it’s our responsibility. Supporting Mr. General’s historic selection reflects our mission to enable Pakistan’s firsts on the world stage,” a DIB spokesperson stated.
The Pakistan Cycling Federation hailed this as a new chapter for the sport in Pakistan, underscoring the nation’s growing role in producing officials of international standard capable of contributing to world-class events.
Alhuda Cibe forum highlights Islamic Finance growth in UK and Europe
The Forum on Islamic Banking and Finance was successfully convened on August 23, 2025 at the London Central Mosque Trust Ltd, bringing together an influential gathering of policymakers, regulators, Shariah scholars, financiers and industry leaders.
Organized by AlHuda CIBE in collaboration with the Islamic Cultural Centre, UK, sponsored by Royal Bullion Capital (RBC), UAE and the event provided a dynamic platform to explore the evolving landscape of Islamic finance in the UK, Europe, and beyond, while also spotlighting the sector’s global growth trajectory.
The forum commenced with a recitation of the Holy Qur’an by Sheikh Dr. Faid Said, followed by welcome remarks from Mr. Muhammad Zubair, CEO of AlHuda CIBE, UAE, and Dr. Ahmad Al-Dubayan, Director General of London Central Mosque & ICC, UK. Distinguished guests of honor, including H.E. Haseeb bin Aziz, Deputy High Commissioner of Pakistan to the UK, H.E. Abdennour Gougam, Counsellor for Economic Affairs at the Embassy of Algeria in the UK, and eminent scholar Mufti Abdul Kadir Barkatulla, underscored the importance of Islamic banking in fostering inclusive finance and promoting ethical economic systems.
The conclave was marked by strong endorsements from key figures. H.E. Haseeb bin Aziz, Deputy High Commissioner of Pakistan to the UK, stated, “This forum is an excellent initiative and a significant event for the City of London. It is heartening to see the robust growth of Islamic finance mirrored here in the UK, a trend we are also witnessing profoundly in Pakistan. The Islamic finance industry in Pakistan is experiencing exceptional growth across all sectors, including full-fledged Islamic banking, Islamic microfinance, Sukuk issuances, Takaful, and the rapidly evolving Islamic FinTech landscape.
Forums like these are crucial for sharing knowledge and fostering cross-border partnerships.”
Dr. Ahmad Al-Dubayan, Director General of London Central Mosque & ICC, UK, commented on the event’s success, saying, “The London Central Mosque & Islamic Cultural Centre is proud to have hosted this significant gathering. The successful organization of this forum underscores our shared commitment to the development of ethical and Shariah-compliant finance. Our institution is deeply committed to supporting the growth of Islamic banking and finance within the UK and will continue to pursue this strategy in the future, providing a platform for dialogue and development.”
Echoing the sentiment on the sector’s relevance, Mufti Abdul Kadir Barkatulla noted, “Islamic finance is not just a niche alternative; it is a growing necessity for modern society. Its principles of risk-sharing, avoidance of exploitation, and linking finance to real assets offer immense benefits to both Muslims and non-Muslims alike.
London, with its unique position as a global financial capital, is perfectly poised to lead the adoption and innovation of Islamic finance in the Western world.
Muhammad Zubair, CEO of AlHuda CIBE, provided insights into the organization’s mission, stating, “For the past 20 years, AlHuda CIBE has been unwavering in its commitment to the development and promotion of Islamic banking and finance globally. We have worked dedicatedly in over 60 countries to raise awareness, build capacity, and provide expert guidance. While we operate as an advisory and consultancy organization, our core mission has always been philanthropic—dedicated to the holistic growth and professionalization of the Islamic finance industry. This forum in London is a testament to that enduring commitment.
The forum’s technical sessions highlighted the changing contours of Islamic banking in the UK and Europe, the role of interfaith dialogue through ethical finance, and the contribution of microfinance in advancing financial inclusion. A special session examined the significance of gold investment within Islamic financial structures, while a high-level panel discussion on the future of Islamic finance featured prominent voices from institutions such as Mayer Brown, Kestrl, Nester, Al Baraka Bank UK, and leading UK academics. The event concluded with a certificate distribution ceremony, recognizing partners and contributors who are advancing the Islamic finance agenda in Western markets.
The UK has emerged as the principal hub for Islamic finance outside the Muslim world, with London consistently ranked as a global center for sukuk, Islamic funds, and Shariah-compliant banking. By the end of 2021, the UK’s Islamic banking assets reached approximately USD 7.5 billion, accounting for nearly 85 percent of Europe’s total Islamic banking assets (excluding Turkey). This figure rose to USD 8.2 billion by the close of 2023, reflecting a remarkable 26 percent year-on-year increase. Despite this growth, the sector remains relatively modest in domestic terms, representing just 0.1 percent of the UK’s total banking assets, yet its strategic significance lies in its international connectivity and capital markets presence.
Pakistan marks milestone with first-ever digital economic census: Mian Zahid
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF), former Minister of Information Technology Government of Sindh, Chairman Policy Advisory Board Federation of Pakistan Chambers of Commerce and Industry (FPCCI), on July 30 commended the Pakistan Bureau of Statistics (PBS) on the successful completion of the nation’s first-ever Digital Economic Census. The census, which was integrated into the 7th Population and Housing Census, is a significant milestone for Pakistan’s economic data and future planning.
“This is a transformative moment for Pakistan’s economy,” said Mian Zahid Hussain, who is also the Chairman of the National Business Group (NBG) and President of All Karachi Industrial Alliance (AKIA). “By digitally documenting and geo-tagging nearly 7 million business establishments, the PBS has accomplished the largest digitization effort of its kind in South Asia.”
The census provides unprecedented insights into the structure of Pakistan’s economy, identifying over 7.14 million establishments in total. Key findings highlight the dominant role of the Services sector, which holds the largest number of establishments and employs the biggest share of the workforce. The data also shows that Punjab leads in the number of business establishments, while the Services sector is particularly strong in Sindh and Islamabad.
This digital methodology represents a major leap forward, moving away from outdated methods to provide transparent, credible data. Each business-significant unit was geo-tagged, and comprehensive information was collected on its activity, ownership, workforce size, and more. This data was gathered through a multi-pronged strategy that included household-based, formal establishment, and temporary setup.
“The availability of this reliable data would be a game-changer,” Mian Zahid Hussain emphasized. “It will not only boost investor confidence but also enable evidence-based decision-making for policymakers. We can now boost investor confidence, develop targeted cluster strategies, and align our economic management with international standards. This will support urban planning, track our development progress, and create a more attractive environment for local and foreign investment.” Mian Zahid Hussain concluded his statement by reiterating the importance of this census in laying a solid foundation for a more prosperous and data-driven future for Pakistan.
SSGC signs contract with FAMCO for digital transformation of its Enterprise Risk Management Framework.
Keeping abreast of latest global technology developments, Sui Southern Gas Company (SSGC) stepped up towards the digital transformation of its Enterprise Risk Management (ERM) Framework in alignment with the international standards and the requirements of State-Owned Enterprises (SOE) Framework in respect of ERM.
To pursue this development, SSGC entered into a contract with FAMCO Associates, Pakistan’s leading Consulting Firm for the implementation of ERMVare, with an objective to enhance SSGC’s Risk Management capabilities and to meet both national and international standards.
As a way forward, a contract signing ceremony was held at SSGC’s Head Office today, i.e. on August 26, 2025. The contract was signed by SSGC’s Acting Managing Director, Mr. Amin Rajput and Chairman FAMCO Associates Mr. Muhammad Ghazali. SSGC’s Group Head Enterprise Risk Management, Mr. Rauf Aslam Butt along with his team witnessed this signing ceremony. The ceremony was also attended by the senior management of SSGC, who extended their support to this important initiative of the organization, whereas FAMCO Associates was represented by Mr. Junaid Ahmed and Mr. Faraz Siddiqui.
Speaking on the occasion, SSGC’s AMD emphasized on the importance of adopting innovative solutions to strengthen SSGC’s ERM Framework. He said that this partnership will not only elevate SSGC’s Enterprise Risk Management practices but will also help in developing risk culture across the organization.
SSGC strongly believes that its collaboration with FAMCO Associates will prove as a strategic initiative to integrate advanced technology into its Enterprise Risk Management processes, fostering a proactive approach in identifying and mitigating potential risks in future.
Yango Tech explores AI partnerships with Pakistan’s IT & Telecom Ministry
Yango Tech, the unified ecosystem delivering advanced B2B technology solutions to local businesses, recently held a high-level meeting with the Honourable Federal Minister for IT & Telecom, Ms. Shaza Fatima, to explore avenues for advancing Pakistan’s digital transformation and fostering long-term technology partnerships. The Yango Tech delegation was led by Evgeny Chernikov, Chief Operating Officer (COO) of Yango Tech.
Discussions with the Honourable Minister centered on opportunities that lie in the technology ecosystem of Pakistan especially in the domain of Artificial Intelligence (AI), reflecting Yango Tech’s vision of serving the country as a trusted technology partner for the Government of Pakistan.
“We are deeply grateful to the Honourable Minister for her time and her leadership in leapfrogging Pakistan’s technology ecosystem forward. Pakistan has tremendous potential to accelerate its digital journey, and we are super excited to work alongside the Ministry of IT & Telecom to bring AI technology solutions that can help towards the goals set for this,” said Evgeny Chernikov, COO of Yango Tech.
This engagement marks an important step in strengthening ties between Yango Tech and Pakistan’s IT sector, paving the way for innovative digital solutions that contribute to the country’s economic growth and technological leadership.
Yango Pakistan, is a part of Yango Group, an international tech company that is transforming globally sourced technologies into everyday services that are tailored to local communities. In Pakistan, Yango’s services ranging from Ride, Delivery/Cargo, Shops, and Tech – AI solutions for business – have resulted in the creation of numerous direct and indirect jobs and entrepreneurial opportunities in Pakistan.
The Ministry of IT and Telecom (MoITT) is fostering Pakistan’s digital growth by focusing on infrastructure enhancement, policy formulation for emerging technologies like AI and cloud computing, and attracting foreign investment. These efforts have led to significant growth in IT and ITeS exports, creating a strong digital ecosystem and contributing to the country’s economic development.
With an unwavering commitment to innovation, Yango is committed to reshaping and enhancing leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions.
TGA hosts first-ever Pakistani content creators trip to Türkiye
In a landmark initiative to strengthen tourism and cultural ties between Pakistan and Türkiye, the Türkiye Tourism Promotion and Development Agency (TGA), in collaboration with the Ministry of Tourism and Culture, hosted the first official influencer trip from Pakistan to Türkiye this month. The trip was curated by Asiatic Public Relations Network (APR). Six prominent Pakistani social media influencers: Hamza Bhatti, Osama Nasir, Umama Ismail, Ghuas Gondal, Fariha Asghar, and Rea Rana, experienced Türkiye’s hospitality and vibrant culture, with Istanbul as the centerpiece of their journey.
The carefully curated itinerary offered the influencers a mix of heritage, culture, and modern experiences. From exploring the Blue Mosque, Hagia Sophia, and Basilica Cistern in Istanbul’s historic peninsula, to strolling through the colorful streets of Balat and Fener, the group captured the city’s blend of tradition and modernity. Visits to the Spice Bazaar, Istiklal Street, and Galataport gave them a taste of everyday Istanbul life, while the Bosphorus Cruise highlighted the city’s unique position straddling Europe and Asia.
Gastronomy was also a central focus, as the influencers enjoyed authentic Turkish cuisine and fusion delicacies, capturing the essence of Türkiye’s celebrated food culture. A TGA representative said: “We are delighted to welcome the first group of Pakistani influencers to Türkiye. This milestone reflects our commitment to further strengthening ties between our two nations, and showcasing Türkiye’s unique experiences to Pakistani travelers. We look forward to seeing the stories and content that will inspire more visitors from Pakistan to discover Türkiye.”
The influencers will be creating digital content from their trip, offering their audiences a first-hand glimpse into Türkiye’s cultural, historical, and culinary wonders.
This pioneering collaboration marks the beginning of a series of efforts to promote Türkiye in Pakistan, further deepening the long-standing friendship and people-to-people connections between the two countries.
Urgent care for KP flood victims — join LRBT’s mission
While Khyber Pakhtunkhwa is among the worst-hit by devastating floods — hundreds have lost their lives, thousands displaced, and countless families left without access to basic healthcare. Contaminated water & unsafe living conditions are causing a surge in preventable diseases and eye infections.
LRBT, Pakistan’s largest provider of free eye care, with 4 major hospitals in KPK, is launching free medical & eye screening camps to deliver life-saving care where it is needed most. We need your support to provide urgent treatment, medicines, spectacles & surgeries to flood-affected families.
Donate today and help LRBT bring hope, healing & dignity to those who have lost everything.
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