Wednesday, 14 February, 2024 | ISLAMABAD
CORPORATE CORNER
Khushhali Microfinance Bank's Corporate Office team recently visited the Baithak School Network in Islamabad. Led by Kashif Ahmed Khan, Head of Liability and ADC Sales, the team interacted with the students during this visit. They emphasized the importance of education, nurturing aspirations, and instilling financial literacy for a brighter future while also distributing school bags to deserving students. PR
Mastercard expands partnership with BoP to redefine digital payments for commercial segment
KARACHI: Mastercard and the Bank of Punjab (BOP) have expanded their partnership to cover the commercial segment, ranging from large corporate entities and Small and Medium Enterprises (SME) to freelancer and gig workers. BOP will become the first bank in Pakistan to issue Mastercard BusinessCards® for SMEs, offering a range of solutions designed to cater to the country’s 5.2 million-strong SME market. BoP has also launched the first Foreign Currency Business Debit Card, enabling more than 2.5 million freelancers to digitize their payments. By facilitating a shift from cash to digital payments, BOP is not only revolutionizing the SME sector, but also promoting financial inclusion in Pakistan’s burgeoning gig economy. PR
Wake-up call for employers comes in biggest global talent survey across accountancy profession, ACCA
KARACHI: In a comprehensive survey, ACCA's Global Talent Trends 2024 highlights a critical diversity and inclusion culture, AI's role in the profession, and mental health concerns in the workplace, with an in-depth look at South Asia's unique market dynamics.This wake-up call for employers comes in the biggest global talent survey across the accountancy profession, ACCA’s (the Association of Chartered Certified Accountants) latest annual Global Talent Trends survey 2024 provides a unique and vital view of how people feel about their life at work.Almost 10,000 professional accountants from 157 countries were asked about the concerns they held around work in the future as well as aspirations for their careers. The survey also assessed key workplace issues such as hybrid working, diversity, mobility and mental health and the cost-of-living crisis.According to the survey, a significant 73% of professionals believe that a robust diversity and inclusion culture is crucial in choosing an employer, signalling an urgent call for organisations to broaden their diversity initiatives beyond traditional dimensions to include aspects such as age and neurodiversity PR
‘Three sisters’: Sahresh Ali, Mehwish Ali and Mahnoor Ali qualify for semi-finals Squash C’ship
KARACHI: Third Image All-Pakistan to Rasm Khan Squash Championship quarter-final stage is complete. done Top seed Saddamul Haq defeated Muhammad Zaman three-nil in the men's quarterfinals at Roosh Khan Jehangir Khan Pakistan Navy Squash Complex. Ashar Butt won from three games to two after a thrilling contest against Bilal Zakir. Ashar was declared the winner due to Bilal Zakir wasting time during the match. Naveedur Rehman defeated Talha Saeed by three zero games. Anas Ali Shah defeated Anas Khan by three nil.In the women's quarter-finals, the top-seeded trio of Siggy sisters cruised to a place in the semi-finals. Mehwish Ali defeated Elsa Imran by 3 nil. Sahar Ali piled up Sayeda Zanira in just twelve minutes Mah Noor Ali beat Sameer Shah by three zeroes. Anam Aziz qualified for the top four by defeating Anna Shaikh. The semi finals will be played on Wednesday. PR
DESPITE REVENUE GROWTH, ESCALATING EXPENSES AND HIGHER TAXES HAVE CONTRIBUTED TO COMPANY'S INCREASED LOSSES
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Dr Azra Yasmin, President Rotary Club Islamabad Metropolitan, presenting Rotary Flag to Ambassador of Belgium H.E Charles Delogne on the occasion of the meeting of the Rotary Club. PR
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PTCL’S LOSS WIDENS TO RS14.15B IN 2023 AMID RISING EXPENSES NEWS
PROFIT
MONITORING DESK
AKISTAN Telecommunication Company Limited (PSX: PTC) reported a wider aftertax loss of Rs14.15 billion in 2023, an increase from the Rs10.49 billion loss recorded in the previous year. Despite this, the company saw a 25.75% rise in revenue, reaching Rs190.61 billion, up from Rs151.58 billion in 2022. While the cost of sales grew by 26.50%, leading to a 22.88% increase in
gross profit to Rs38.64 billion, gross margins slightly declined to 20.27% from 20.74%. The company’s other income nearly doubled, rising by 96.70% to Rs30.61 billion. However, administrative and general expenses, along with finance costs and other expenses, witnessed significant increases of 26.27% and 73.98%, respectively. Tax payments also rose by 5.56% to Rs6.47 billion. Despite revenue growth, escalating expenses and higher taxes have contributed to the company’s increased losses, highlighting the need for strategic financial management.
Wellness Redefined: Embracing the Alternative Lifestyle with What's the Alternative
As the world recognizes how our collective choices have negatively impacted our health and overall wellness, it becomes evident that conventional lifestyles are no longer serving our needs. In Pakistan, the situation is becoming increasingly alarming. A study titled “The Burden of Mental Disorders in the Eastern Mediterranean Region, 1990-2013” revealed that Pakistan alongside Afghanistan, was witnessing a higher number of “chronic disorders including mental illness” in the region. More recently, a chapter in the book ‘Nutritional and Health Aspects of Food in South Asian Countries’ revealed that certain lifestyle factors, such as poor nutrition, and a lack of physical activity, are exacerbating diseases in the country. It was noted that this is particularly alarming since Pakistan does not have the medical infrastructure to tackle these illnesses should the numbers continue to rise. Perhaps most significantly, the consumerism-fueled lifestyle choices that have little room for reflection, are intrinsically unsustainable. Considering how climate change is exacerbating the challenges Pakistan faces, approaches to well-being must take sustainability into account. Because of this, we must be all aware of alternative lifestyle choices, that can greatly benefit and positively impact our overall wellness. We have to understand the building blocks of an alternative lifestyle, which are both sustainable for the environment at large, and also beneficial for our health and wellbeing. Yet, most platforms compartmentalize wellness and sustainability; focusing on one or the other but never both. Hardly any platform explores the link between wellness and sustainability. Spearheaded by SEED Ventures, What’s The Alternative (WTA) adopts a different approach. Envisaged as a holistic platform that not only looks at the environment, wellness and lifestyle, WTA delves into the interconnected nature of these three areas of focus. In particular, offering actionable ways to adopt a well-rounded, alternative lifestyle. Choosing To Do Better Commenting on “the power of individuals,” Shaista Ayesha, Chief Executive Officer at SEED Ventures emphasizes “the importance of making conscious choices and altering behaviours, as collective actions can yield substantial impacts.” Since the WTA platform is designed to be “solution-oriented” it empowers conscious and curious individuals by both highlighting how their individual choices add up to great impact, and allowing them information about the best alternatives for their needs, and the needs of the society as a whole. “By centering our focus on solutions,” she says “we transcend the overwhelming sense of crisis and embrace a mindset of possibility and positive action”. At a lifestyle event organized by Whats the Alternative, a platform owned and managed by Seed Ventures, Andleeb Uroos Ahmed, Head of Communications at Philip Morris (Pakistan) Ltd, said "The spotlight falls on the company's alignment with the United Nations' Sustainable Development Goals. The integration of a sustainability agenda into the business structure resonates with the global focus on harm reduction championed by Philip Morris International. Uroos elaborates on the ongoing product transformation, emphasizing the shift towards less harmful alternatives as a strategic move towards a smoke-free
future. PMI's commitment to addressing its environmental impact is highlighted through initiatives such as anti-littering campaigns and the adoption of sustainable energy sources. WTA offers individuals a wide range of educational resources, including easy-to-read articles, and thoroughly researched opinion pieces weighing in on prescient topics. The ultimate goal is to inspire conversations and change, by showcasing what options are available and the breadth of their positive impact. Build Your Alternative Lifestyle With WTA There are several steps that you can adopt when curating a lifestyle that while deviating from conventionality, serves your broad goals. WTA focuses on several aspects of this, opting for a holistic approach that prioritizes choice. While the platform also highlights the importance of institutional changes, it maintains how individual choices can be greatly beneficial given Pakistan’s current realities. In particular, the platform offers insight into the following; 1, Alternative Approaches Towards Nutrition: WTA’s focus is not just limited to nutritional needs during specific points in time in one’s life (during pregnancy for example). Rather, the platform encourages the adoption of mindful eating practices, highlighting the link between mental wellbeing and food, and how our food choices impact the planet as well. 2, Embracing Mindfulness as A Way of Life: Mental health is an important aspect of your wellness. An alternative approach to improving your mental health is to adopt mindfulness into your daily routine. By making practices such as journaling and meditation a part of your daily routine, you can greatly improve your overall mental health. 3. Going Beyond the Aesthetic Appeal of Fitness: A seemingly innocuous aspect of contemporary fitness is focusing solely on the physical aspects of fitness. No one can deny that aesthetics plays a part in people prioritizing physical activity. However, the more important aspects pertain to how exercising can improve the overall quality of your life. WTA offers insight about how specific activities impact your overall health (noting for example the link between weight training and bone health) so that you can make the best choice for your overall health goals. 4. Inculcating Community Level Changes: An important aspect of the platform is encouraging community-focused conversations. As noted by Shaista Ayesha, “By fostering a sense of shared responsibility within communities we strive to facilitate local change”. WTA does this by hosting events that ask pertinent questions and allow Pakistanis to get answers from experts. Through its online presence, it then disseminates the information shared in a bid to inspire continuing change. When you design an alternative lifestyle for yourself, you must have an aspect of community embedded in it. Ultimately, the impact of the WTA platform is multifaceted. But, because it posits wellness within a broader scope, it also offers an opportunity to foster a truly transformative lifestyle. It does this by empowering individuals with the knowledge they need to create the kind of changes in their lives that will have lasting and reverberating impacts on their wellness and the environment that they inhabit.
NADRA, FIA conclude joint internal probe into illegal issuance of ID cards to non-nationals ISLAMABAD INP
National Database and Registration Authority (NADRA) and Federal Investigation Agency (FIA) have concluded a joint internal investigation into illegal issuance of Pakistani national ID cards to nonnationals by its employees. A comprehensive internal review revealed the involvement of five individuals in illegal processing of identity documents. The details have been compiled and forwarded to the Federal Investigation Agency (FIA) Anti-Corruption Circle for legal action. Following reports of unauthorized issuance of national identity cards to non-nationals, NADRA's administration undertook a thorough analysis of its systems and operational protocols. Through a forensic audit of NADRA's databases, conducted within a well-structured framework, it became evident that five employees of different ranks were complicit in facilitating the issuance of identity cards to nonnationals. Following a rigorous internal inquiry, NADRA has transferred the case to the FIA AntiCorruption Circle accompanied by all revelant records, to ensure swift and effective legal proceedings. Legal action will be taken against the accused under Section 28/29 of the NADRA Ordinance 2000 (read with the FIA Act).
Timely collection of electricity bills from consumers top priority: IESCO
Besides the provision of quality services, uninterrupted power supply of electricity to valuable customers timely collection of electricity bills is also the most important responsibility of field formations which not only leads towards uninterrupted power supply to valuable customers but also a source of timely completion of system upgradation project for better customer services. In a statement given by the Chief Executive Officer IESCO Dr. Muhammad Amjad Khan said that during the ongoing recovery campaign IESCO recovery teams with the collaboration of the police and district administration, recovered 2026.52 million from running and dead defaulters while disconnecting the meters and transformers of non-paying consumers. CEO IESCO requested the consumers to show their national and moral responsibility to pay electricity bills on time and in case of non-receipt of electricity bills duplicate bills can be obtained from IESCO website www.iesco.com.pk, concerned SDO Office or from nearby Customer Service Centers. PR
Miftah Ismail foresees PTI as ‘strong’ opposition Inauguration ceremony KARACHI
STAFF REPORT
Pakistan Muslim League-Nawaz (PML-N) leader and former Finance Minister Miftah Ismail said that after Pakistan People’s Party (PPP) decision not to become part of the centre, it would be a ‘minority’ PML-N’s government. In a statement, Miftah Ismail said that if the PML-N is able to form the federal government, it would be a minority government and the Pakistan Tehreek-e-Insaf (PTI) would be a ‘strong’ opposition. He said that the PML-N would
find it very difficult to fulfill its promises to the people. “The next two years will be very difficult for the government as many reforms are to be done,” he added. Miftah Ismail said that the new government would have to engage with the International Monetary Fund (IMF), adding that the PMLN should be very cautious in dealing with the challenges. He said that he is not in contact with the PML-N leadership. “The party does not need my advice, nor do I have any advice for them,” the former finance minister said. He added that 90 million Pak-
istanis came below the poverty line, urging all the parties to make decisions in the wider interest of the country. “Long-term policy must be kept in mind. The new government would be compelled to take difficult decisions,” Miftah Ismail said. The former finance minister said that had there been good decisions in the 16-month government, the results would certainly have been different. “Had Ishaq Dar completed the IMF deal on time, the situation would have been different today,” he added.
Nawaz Sharif should not become prime minister: Javed Latif ISLAMABAD
STAFF REPORT
Pakistan Muslim League-Nawaz (PML-N) leader Javed Latif, who faced defeat in the general elections 2024, opined that party supremo Nawaz Sharif should not become prime minister. Speaking at a private TV Channel, the PML-N leader cast doubt over the elections’ legitimacy, claiming that results of candidates
belonging to every political parties have been changed. “Today, not me or any political party, but the state has been defamed”, Javed Latif said, pointing out the press conference of Pir Sibghatullah Shah Rashidi, popularly known as Pir Pagara – who announced his refusal to accept the results of the recent general elections. Speaking of his defeat, Latif claimed he was told 15-20 days earlier that a “cross has been made
on my name”. “The profess of declaring someone winner and loser should be stopped,” he demanded. PTI-backed independent candidate Khurram Shahzad Virk won the election for National Assembly constituency NA-115, Sheikhupura III by securing 130,255 votes. As per unofficial result, his runner-up was Javed Latif, who bagged 94,144, votes. Responding to a question, he said his opinion won’t matter now as he lost the election.
marks milestone achievements in maternal and child healthcare
KARACHI: PPHI Sindh successfully organised an inauguration ceremony of the rehabilitation work of the Maternal, Neonatal, and Child Health (MNCH) Block, coupled with the launch of C-Section services at Government Hospital Murad Memon, Malir Karachi. Additionally, the distribution of 17 ambulances to various districts was also held, further enhancing emergency healthcare services in the region. The event was graced by the presence of esteemed Chief Guest, Mr. Fazal-ur-Rehman, Chairman Board of Directors, PPHI Sindh. The ceremony was held at the MCHC Murad Memon, Murad Memon Goth, Malir, Karachi. This event marks a significant milestone in PPHI Sindh’s ongoing efforts to enhance maternal and child healthcare (MCHC) services across Sindh.