With AbhiSalary, the fintech company aims to reduce financial stress for thousands of employees working at Naveena Group and its subsidiaries. Established in 1989 as a textile manufacturer, the group now operates in the textile, energy, steel, and real estate development sectors, focusing on sustainability.

AbhiSalary is a fintech company that is dedicated to providing financial solutions to employees working at Naveena Group and its subsidiaries. Their goal is to reduce financial stress and provide convenient access to financial services to thousands of employees in these sectors. Naveena Group, established in 1989 as a textile manufacturer, has since expanded to the energy, steel, and real estate development sectors with a focus on sustainability. AbhiSalary’s innovative technology allows for seamless integration with existing payroll systems, enabling employees to access their earned income and additional financial services conveniently. With AbhiSalary, Naveena Group is able to enhance employee satisfaction and engagement by prioritizing their financial well-being.

On the day of signing, Mr. Mohammad Zaidi, Director of Business Development and Sales at ABHI said, “We’re honored to serve Naveena Group and enable their 5,000 salaried individuals to access their pay anytime, anywhere, and make key financial decisions at any time of the day. We truly believe that AbhiSalary will increase productivity and improve the bottom line of Naveena Group.” ABHI Onboards Naveena Group to Provide AbhiSalary

Mr. Aman Tata, Director at Naveena Group highlighted the importance of AbhiSalary for employees by commenting, “We’re delighted to offer AbhiSalary as a financial wellness benefit to our deserving employees. We hope that AbhiSalary will help them in their time of need and reduce their financial stress.

Mr. Shahid Mahmood Khan, Managing Director PARCO, addressed the grand inaugural ceremony and shared his views, “I am delighted to inaugurate the seventh edition of this exhilarating tournament as the last PARCO T20 Cup was held in 2015. The last couple of years were challenging not just for Pakistan but for the world. Despite challenges, cricket has always been a sport which brings people together and results in sheer joy. By reviving this tournament, PARCO aims to strengthen our association as a fraternity and create opportunities for healthy engagements”.

The inaugural ceremony was graced by distinguished guests from sports and media fraternity, and top executives of leading companies. The teams of Pakistan’s prominent oil and gas companies participating in this tournament include: 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.

The teams will contest in 33 exciting and thrilling matches. Tournament’s regular updates can be viewed HERE.

The event, titled “Go Export with Alibaba.com,” will bring together existing and potential exporters to offer tips and counsel on ways to begin and develop an online export business, as well as address questions on the necessary skills required by Pakistani sellers to grow in the field. It will be the first event of its type to be held by Alibaba.com in Faisalabad.

The event will feature highly qualified guest speakers, including Mr. Song Song, Head of Alibaba.com Pakistan; Mr. Atif Munir Sheikh, President of FCCI and Mr. Muhammad Haider Zaidi, Law Specialist of AUC| Law.

Individuals interested in attending the event, either physically or virtually, can register for a seat here: link

About Alibaba.com

The first business unit of Alibaba Group, Alibaba.com is a leading platform for global B2B e-commerce that aims to make it easy to do business anywhere. Launched in 1999, Alibaba.com is engaged in services covering all aspects of commerce, including providing businesses with tools that help reach a global audience for their products and helping buyers discover products, find suppliers, and place orders online fast and efficiently. It serves millions of buyers and suppliers from over 200 countries and regions around the world. Alibaba.com to Organize Faisalabad Seller Summit.

The event, titled “Go Export with Alibaba.com,” will bring together existing and potential exporters to offer tips and counsel on ways to begin and develop an online export business, as well as address questions on the necessary skills required by Pakistani sellers to grow in the field. It will be the first event of its type to be held by Alibaba.com in Faisalabad. Alibaba.com collaborates with the Faisalabad Chamber of Commerce and Industry in a bid to boost e-commerce export in Pakistan.

As of March 31st, 2022, KE’s net receivables from various Federal and Provincial government entities stood at PKR 53 billion on a principal basis. Delays in reconciliation and release of legitimate payments from these entities are severely affecting the Company’s cash flow position and ability to further accelerate investment in key power infrastructure. Further, on March 01, 2022, NEPRA issued its decision on KE’s MYT Mid-Term Review, wherein NEPRA made a downward adjustment of PKR 0.22/kWh on the utility’s determining tariff and disallowed an additional investment of PKR 138 billion by KE to improve on its services including power supply and reliability.

An important update for this quarter is the finalization and deployment of KE’s 900 MW RLNG-based power project, BQPS-III. The first Unit of 450 MW proceeded with its mandatory testing in March 2022 as well as synchronization with KE’s Grid, and is now in the final testing stages before commissioning.

KE has also upgraded its infrastructure in its service areas to keep pace with and facilitate the economic growth in the city’s peri and suburban regions. Aside from rehabilitation, the grids in Winder are being enhanced and the 66kV line is upgraded to 132 kV along with the commissioning of new lines to improve transmission capacity and reliability in the region. Additionally, to improve on capacity and systemic reliability, 6 new power transformers have been integrated into the network to ensure a reliable power supply to consumers across Karachi.

On the distribution front, the Company continued to make strides on its loss reduction efforts. Over 200,000 KG of illegal hooks (Kunda) have been eliminated from the system in the first 9 months of the current fiscal year, and a total of 800 Pole Mounted Transformers have been converted to Aerial Bundled Cables (ABC), with around 125,000 new connections installed. Furthermore, to focus on customer-centricity, 17 additional ‘Customer Facilitation Centers’ have been deployed to facilitate our customer’s billing inquiries.

In line with Sustainable Development Goals (SDG7), KE has signed an MoU with the Sindh Energy Department (SED) and the World Bank (WB) for the establishment of solar projects with 350MW capacity. This tri-partite collaboration is set to add another 700 GWh to KE’s total clean energy supply and offset 300-350 kilotons per annum of carbon emissions. KE has also partnered with Akhuwat and donated PKR 7.5 million as interest-free microfinance loans to households for the installation of solar photovoltaic (PV) systems within the service territory of the Company.

Aside from sustainable development, KE is heavily invested in empowering individuals and communities. After the success of the first cohort of the Roshni Baji Neighborhood Women Ambassador Programme, an expanded batch of 60 women were inducted in November 2021. They will be on the field for nine months across Karachi’s most densely populated neighborhoods. By the end of March 2022, the Roshni Bajis held discussions on safety and legal connections with over 210,000 households, bridging the gap between the utility and a key demographic of women consumers in Karachi. Separately, 11 women from the first batch of the programme have been hired as KE female Meter Data Maintenance Officers (MDMO). This programme has received international recognition at the S&P Global Platts, under the Global Energy Award. This is also the first time for an energy company in Pakistan to receive the coveted award and recognition.

In line with KE’s commitment towards safety, the Company initiated a comprehensive plan to revalidate the safety parameters on its High-Tension and Low-Tension network with the goal to improve on network resilience and uphold public safety; with 99% of project, completion achieved. Furthermore, KE’s HSEQ department conducted extensive Behavior Safety Management sessions for the field staff to inculcate a culture of safety across the company.

KE continues to engage with stakeholders on the finalization and execution of the Power Purchase Agency Agreement (PPAA) and Interconnection Agreement (ICA) for the supply of 2,050 MW to KE from the National Grid along with a Tariff Differential Subsidy Agreement (TDS) for timely release of subsidy which will streamline the process for the utility and relieve the pressure on the company’s financial viability.

The Company also remains engaged with Government entities for an amicable resolution to the issue of historic receivables and payables in accordance with law as well as with NEPRA to expedite the determination of pending quarterly tariff variations including costs in lieu of recovery loss for the period FY 2017 to FY 2021 claimed as per the mechanism provided by NEPRA in KE’s MYT. A sustainable resolution to these issues and timely approvals remains critical for the Company’s sustainability and execution of the planned investment.

Bank Alfalah Limited (BAFL) is one of the largest financial institutions of Pakistan and one of the most influential industry leaders when it comes to innovative Digital Banking products. In the past 2 years, Bank Alfalah has built the largest Cash Deposit Machine network of Pakistan – spreading across several cities and offering various useful cash deposit transactions to any walk-in customer with a valid CNIC. These services are available nonstop round the clock and without the need of using an ATM or Debit card.

Jubilee Life Insurance Company Limited (JLICL), is a well-known and leading private sector life insurance company that offers various customized insurance products for its customers. Along with its various insurance products for individuals and corporate businesses under conventional and Islamic modes of insurance, the Company flourishes in bringing best practices and world-class solutions to the financial needs of its customers. Going one step ahead with this aspiration to make buying insurance in a simple and hassle-free manner for its customers in this digital era, Jubilee Life is now ensuring new and more convenient ways of payment for its customers by offering various e-payment solutions.

Attending this event – the CEO of Bank Alfalah Limited ‘Mr. Atif Bajwa’ stated; “Digital banking and insurance have a bright future together and it is quite swiftly transforming the criteria of cash collection in Pakistan with customers preferring online channels over traditional ones in substantial numbers. Our partnership with Jubilee Life Insurance will offer customers, a non-stop and secured cash deposit service through Bank Alfalah CDMs.”

The MD and CEO of Jubilee Life Insurance ‘Mr. Javed Ahmed’ stated; “Our customers have always been our top priority. We are very happy to partner with Bank Alfalah to facilitate our customers in paying their premiums in a hassle-free and convenient manner. With the addition of this option, we now offer more premium payment choices to our customers as compared to any other insurer in Pakistan “

Besides the cash management client payments such as between Bank Alfalah and JLICL, CDM offers a variety of other cash services including Cash Deposit to Bank Alfalah or any other local bank, Loan payments, Credit Card payments, Mobile Top-ups, Utility Bill payments, School Fee payments, and Donations, etc. With over 220+ locations currently live and 300+ new locations being added, the Bank Alfalah Cash Deposit network is destined to migrate the majority of over-the-counter traffic of bank branches to this convenient digital channel in upcoming years.

“We are excited to be partnering with NITL. Initially, we were focused on helping our customers manage their finances better and now we are moving towards the next phase of sharing with them the best available investment opportunities. Our customers will now be able to view multiple investment options and put their hard-earned savings into funds that will help their wealth grow.” said Yasir Ilyas – Head of Hysab Kytab.

Minister Dawood explained, “The retail sector contributes 18% of the GDP, employs 16% of the workforce.” He added that the retail sector was critical to fueling supporting sectors such as construction and transportation. He further stated that the growth of the retail sector was a strong indicator of development and progress in the country.

Industry stalwarts used the platform of cross-sector key stakeholders to identify areas where collaboration could be made and improvements could benefit growth. The aggregate representation of business and technology allowed participants to envision how they could create the future of their retail brands and be part of this accelerating ecosystem. Retail legends such as Seema Irfan, founder of Bareeze and Founder of Al Fatah stores, Irfan Shaikh shared insights into the challenges they faced in building brands and serving customers in Pakistan.

An underlying theme that was highlighted in addition to the future of retail, is how resilient brands survived the challenges of the pandemic and became more customer-centric upon their reopening. The conference was supported by Pakistan Fintech Association, P@SHA and A.F. Fergusson & Co. As Knowledge Partners.

The event aims to greatly benefit the retail sector going forward both from the consumer, retailer, allied businesses and the regulators’ perspectives through a sharing of insights and knowledge that will help demystify the post-Covid operating environment. The FOR2022 is supported by the Ministry of Commerce and the Board of Investment (BOI), along with A.F. Ferguson & Co as Knowledge Partner, IoBM as Academic Partner, with Pakistan Fintech Association, and P@SHA as Supporting Partners.

The summit features a powerful line-up of industry heavyweights with Steve Dennis (Amazon Bestselling Author); Dr. Prakash Menon (Global Retail Expert); Nadeem Hussain (PFN), Amir Paracha (Unilever); Saira Awan Malik (TCS); Faisal Riaz (Dolmen Mall); Seema Aziz (Sefam;); Shamoon Sultan (Khaadi), Ehsan Saya (Daraz), Ibad Ahmed (PandaMart), and many other CEOs and industry leaders from across the retail ecosystem.

Because of increased demand and a growing passion, the cryptocurrency industry is expected to grow from USD 1.6 billion in 2021 to USD 2.2 billion in 2026. Despite the various benefits of the crypto market, such as portability, divisibility, inflation resistance, and transparency, not every crypto exchange platform has been identified to utilize all of them. The currency’s flaws were obscured by its poor success rate and failed security, which included criminal activities, exchange rate volatility, and weaknesses underlying the blockchain technology’s design.

At a time when the government is planning legislation to effectively limit most private cryptocurrencies, the world’s first AI Digital Asset Trading Platform, ‘Bibox,’ is launching in Pakistan to revolutionize and unlock the full potential of decentralized funding. Bibox, which was launched in 2017, holds a Swiss VQF financial license and has over 10 million users in 160 countries.

The firm is the first of its type to offer a crypto trading platform with numerous innovative features. Some of them make money through crypto, copy trading, bot trading, and other decentralized finance services. When these capabilities are combined with AI technology, customers may enjoy unparalleled levels of efficiency and ease when trading cryptocurrency. Aside from that, the site has a simple and user-friendly layout that makes crypto trading for non-techies a breeze. World’s First AI Digital Asset Trading Platform ‘Bibox’ Enters Pakistan.

Bibox is almost set to go full throttle in Pakistan as a company. Keeping good ties with multinational initiatives in gaming, NFT, Defi, and other fields. From a commercial viewpoint, the platform will help traders and worldwide crypto efforts. The platform’s “Selected” segment, which provides a worldwide stage for firms with varied demands, now includes Super Start, S-POOL, Pre-taste, and the Global Public Blockchain Club, among other interesting new programs.

Bibox encourages millions of crypto traders in Pakistan, and therefore holds the highest market share in the country’s crypto trading, thanks to superior technology and solutions that provide complete anonymity and safety for users. Muli. G (Head of Asia) continued, “With a $10 million budget for marketing, hiring, and creating cryptocurrency-related goods and services, we expect to recruit roughly 50 individuals in Pakistan.” Bibox is now fully operational and dedicated to providing Pakistani customers with an exceptional experience.

Go to Bibox’s website to start your crypto journey with the world’s first AI-powered digital asset trading platform.