Dejavu for Tractor parts industry in a FBR created crisis: PAAPAM

                                                        

The tractor manufacturing and parts industry faces a significant crisis, threatening the stability and future of a sector that plays a crucial role in the national economy. With a substantial export value of $20 million, a robust vendor base of 200, and an employment figure reaching 200,000 the industry has achieved an impressive 95% localization.

The imposition of a 10% sales tax on tractors, effective from the budget announcement in June 2024, has exacerbated the situation. Previously, tractors were exempt from sales tax until June 2024, ensuring smooth operations and financial stability for manufacturers like Millat Tractors Limited (MTL). The new tax policy has pushed MTL back into the refund regime, reminiscent of the challenges faced post-2012 when SRO 363 established a refund mechanism that processed refunds efficiently within three months.

In 2022, the introduction of SRO 563 (1)/2022 complicated matters further by imposing conditions on the buyer of tractors. The refund benefit was limited to farmers owning land with valid documentation, excluding many who could not meet these stringent requirements. Since then, despite fulfilling the stipulated conditions, the industry has not received due refunds, causing severe financial strain.

A delegation from the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM), led by Chairmen, Mr. Abdul Rehman Aizaz, Senior Vice President Mr. Mumshad Ali, along with Mr. Irfan Qureshi, Mr. Rehan Riaz, Mr. Shahab Saleem, Mr. Jawaid Hafeez, and Mr. Anas Haroon visited the Millat Tractors Sheikhupura Plant to address these pressing issues.

Mr. Abdul Rehman Aizaz and Mr. Mumshad Ali highlighted the urgency of the situation, stating, "Since the budget announcement, the mechanism for processing sales tax refunds has not been notified by the Federal Board of Revenue (FBR) despite numerous letters and appeals. Consequently, MTL operations have been halted since July 1st with no orders or invoices issued, causing significant financial losses as compared to the last Year sales of 30,000 units.

The delegation urges the Ministry of Finance (MOF) to intervene and ensure that the FBR establishes an efficient refund process, similar to the one under SRO 363(i)/2022. The failure to address these issues promptly could have detrimental effects on Pakistan's agriculture sector, which heavily relies on the timely availability of tractors and related machinery.

CBD PUNJAB CHAMPIONS SUSTAINABLE DEVELOPMENT AT UNEP WORKSHOP IN DUBAI

                                              

Punjab Central Business District Development Authority (PCBDDA) also known as Central Business District Punjab (CBD Punjab), a leader in transformative urban development projects, participated in the United Nations Environment Programme (UNEP) technical study and workshop on District Cooling Systems held in Dubai. This prestigious event was hosted by Empower, a renowned leader in district cooling services, in collaboration with Tabreed, a key player based in Abu Dhabi. The workshop gathered global experts and industry leaders to explore innovative solutions and best practices in district cooling systems, which are essential for sustainable urban development.

CBD Punjab was represented by Director Project Management, Asif Iqbal, and Deputy Director Deputy Director Renewable Energy & Smart City Solutions, Yasir Khattak. Their presence underscored CBD Punjab's commitment to integrating advanced cooling technologies and sustainable infrastructure within its ongoing and future projects. As advocates for sustainable development, Asif Iqbal and Yasir Khattak actively engaged in in-depth discussions and collaborative sessions with industry leaders, including the CEO of Empower and other distinguished participants from various countries. These interactions highlighted CBD Punjab's dedication to adopting global best practices and contributing to environmentally friendly urban environments.

The UNEP workshop provided an invaluable platform for knowledge exchange, focusing on the significance of district cooling systems in creating energy-efficient urban landscapes. These systems, which leverage centralized cooling plants to distribute chilled water through an underground network of insulated pipes, significantly reduce energy consumption and greenhouse gas emissions. 

During the event, Director Project Management, CBD Punjab, Asif Iqbal, expressed his thoughts on the importance of district cooling systems. He stated, "We are honored to be part of this significant initiative by UNEP. District cooling systems are essential for creating energy-efficient and environmentally friendly urban environments. Our participation reflects CBD Punjab's dedication to adopting global best practices and contributing to sustainable development. He highlighted that CBD Punjab is committed to incorporating these cutting-edge technologies to enhance the quality of life for its communities while minimizing the environmental footprint of its projects.

Deputy Director Renewable Energy & Smart City Solutions CBD Punjab, Yasir Khattak also shared his insights on the workshop. He noted, "The workshop provided invaluable insights into cutting-edge district cooling technologies. Collaborating with international experts enhances our ability to implement smart and sustainable solutions in Punjab, benefitting both the environment and our communities.

By leveraging expertise from global leaders, CBD Punjab aims to implement innovative solutions that align with international standards and practices, ensuring that its projects are not only sustainable but also resilient and adaptable to future challenges. CBD Punjab’s involvement in this workshop exemplifies its proactive approach towards sustainable urban development. By participating in global forums and engaging with international experts, CBD Punjab is poised to lead the way in implementing advanced cooling technologies and sustainable infrastructure in its projects.

Syngenta Pakistan’s ‘CropWise Grower’ App becomes the biggest Agri-Tech app of Pakistan with 600K+ Downloads

                                                    

Syngenta Pakistan, a leading agriculture innovation and technology company that provides crop protection, seeds, and digital services to millions of Pakistani farmers, has introduced ‘Cropwise Grower’ application - a free-of-cost, highly innovative digital solution to engage & advise the Pakistani farmers to enhance their farm productivity. Within 1 year, the ‘Cropwise Grower’ has become Pakistan's Fastest Growing Agri-Tech App, offering multiple features including instant detection & diagnosis of crop-diseases, pests or other threats to the farmers’ crops.

At the time of this publication, it is the Top Trending App on ‘Android Play Store’ in the ‘Education Category’ with 600,000+ downloads, covering over 4 million acres of farmland. Cropwise Grower app offers multiple features, including instant detection and diagnosis of crop diseases, pests and other threats to the crops. The App’s ‘scan, detect and diagnose’ feature called Crop Doctor is powered by the most advanced Artificial Intelligence (AI) based mechanism, which provides a one-stop solution to farmers to identify crop problems and address these problems efficiently. Besides recommending products suitable for various crop-growth stages, it provides crop-management information and tutorials on the timely identification of pests and diseases. The farmers can also avail other services, including; Area-specific weather alerts and Crop Advisory accessible through the WhatsApp link and Toll-Free Number of this App. A crop calendar can be downloaded, along with details about pests, diseases, nutrients, Syngenta products and other relevant data, to help the farmers take timely actions to keep the crops healthy, from sowing to harvest.

‘Cropwise Grower’ offers several other valuable facilities such as an e-commerce module for online ordering of products, ‘Naya Savera’ franchise locations and a deeper understanding of spraying windows based on localized weather information and evolving environment. The e-commerce feature of this App – ‘Naya Savera Online’ has garnered significant traction from the farmers who have utilized this feature to order Syngenta’s best-in-class products for delivery at their farmgate.

Speaking on the occasion, Zeeshan Hasib Baig (Country General Manager, Syngenta Pakistan) said: “Syngenta Pakistan’s core strength lies in its close relationship with the growers. We are thrilled to share this important milestone which is a testament to the hard work of our team and the incredible support of our farmers.  To further bring smart solutions closer to farmers and to enable them to be more self-sufficient, we will continue to provide the best services to our growers as we reach even greater heights.”

Infinix GT 20 Pro: From Times Square to PUBG Mobile World Cup Champ

                                                     

Infinix has teamed up with champion players from the PUBG MOBILE Super League (PMSL) in Europe, the Middle East, Africa (EMEA), and Central and South Asia (CSA) regions to take over a massive billboard in New York's Times Square, announcing Infinix's upcoming participation in the 2024 PUBG MOBILE WORLD CUP (PMWC). 

As the official gaming phone for the 2024 PMSL EMEA and CSA seasons, the Infinix GT 20 Pro has consistently delivered exceptional gaming experiences to team players. Its impressive performance has earned unanimous endorsement from the players, leading to its prominent placement on the Times Square billboard.

GT 20 Pro Shines in Times Square

New York's Times Square, known as the "Crossroads of the World," is a bustling commercial district and a coveted showcase for global brands. The towering billboards of Times Square, capturing worldwide attention, represent the ultimate aspiration for many brands to be featured. Infinix's GT 20 Pro recently appeared in Times Square, highlighting its exceptional gaming prowess and reinforcing Infinix's leadership in the esports industry. This move further enhances the brand's global influence.

Taking on the Esports World Cup

The 2024 PUBG MOBILE WORLD CUP (PMWC) and ESPORTS WORLD CUP stand as the first grand event in the PUBG MOBILE esports ecosystem, with only teams that have endured rigorous challenges in the PUBG MOBILE regional series tournaments earning the coveted qualification to compete in the 2024 PMWC. This globally acclaimed "Esports World Cup" event brings together champions and top-tier teams from various PUBG MOBILE regional tournaments. Representing their respective regions and fans, they will battle it out for the title of 2024 PMWC champions and prepare for their journey to the year-end global finals, PMGC.

Infinix GT 20 Pro will continue to empower teams and players from across the PMSL regions as they embark on their PMWC adventure. We look forward to witnessing their continued exceptional performances in the upcoming PMWC matches and anticipate their even greater success!

According to the PMSL CSA Champion Team and MVP, "Our biggest impression after using the Infinix GT 20 Pro for a month is its ultra-high frame rate, efficient heat dissipation, and uninterrupted gameplay throughout. As hardcore Infinix GT series phones fans, we will continue to fight alongside the GT 20 Pro and claim victory at PMWC!"

Showcasing Gaming Prowess

The Infinix GT 20 Pro boasts cutting-edge features, powered by the Pixelworks X5 Turbo dedicated gaming display chip, marking it as Infinix's first dual-chip smartphone. This innovative chip utilizes Motion Estimation and Motion Compensation (MEMC) game frame rate interpolation to boost the frame rate from 60FPS to an astounding 120FPS. The Infinix stable frame rate engine optimizes heat and power consumption, ensuring smooth and efficient performance. X-BOOST provides continuous performance management, utilizing vertical synchronization technology to prevent screen tearing and prioritizing game resources for the smoothest gaming experience. As the official smartphone for the 2024 PMWC, the Infinix GT 20 Pro will continue dominating the battlefield with its exceptional "dual-chip" power, cutting-edge technology, and deep collaboration with PUBG MOBILE, aiming for even greater peak performance. Infinx GT 20 Pro bundled with a PUBGM card featuring customized in-game items like a parachute, T-shirt, red rose skin, and weapon skin, all for 280USD- a 25USD savings. Delivering unrivaled performance, innovative design, and breakthrough features, the Infinix GT 20 Pro caters to every gaming need, ensuring you have everything required to outplay the competition.

 

CBD PUNJAB CEO PUSHES FOR EXPEDITED COMPLETION OF WALTON ROAD PROJECT

                                                         

CEO Central Business District Punjab (CBD Punjab), Imran Amin, chaired a comprehensive review meeting to assess the progress of the Walton Road Upgradation Project. This pivotal initiative is set to significantly enhance the infrastructure of Punjab's provincial capital. The meeting was attended by Executive Director Technical CBD Punjab Riaz Hussain, Director of Architecture and Planning Samir Aftab Sial, and official contractors of the project.

Executive Director Technical CBD Punjab, Riaz Hussain, provided an extensive briefing on the project's progress, highlighting key milestones achieved. Notably, the completion of the main trunk sewer and the remodeling of the ADA Nullah were reported. The ADA Nullah will soon be connected with the newly constructed nullah, marking a critical step forward. Additionally, the sub-base work on Walton Road is completed, with the water-bound layer currently in progress. Disposal stations are also set to become functional in the coming days, further facilitating project completion.

A significant highlight of the meeting was the update on the Major Ishaq Shaheed Flyover, which is now 85% complete, with shuttering removal scheduled soon. This major infrastructure component is crucial for improving traffic flow and connectivity in the area.

Following the review meeting, CEO CBD Punjab Imran Amin conducted an on-site inspection of the under-construction Walton Road and Major Ishaq Shaheed Flyover. During his visit, he lauded CBD Punjab's proactive measures that effectively prevented water accumulation on Walton Road during the recent monsoon season. This accomplishment underscores the authority’s commitment to operational excellence and community well-being. CEO CBD Punjab emphasized the need to expedite the project, instructing an increase in workforce and machinery to ensure timely completion, in accordance with the directives of Chief Minister Punjab, Maryam Nawaz..

"Completing the Walton Road Upgradation Project is a top priority for CBD Punjab. We are dedicated to enhancing Lahore's infrastructure to better serve its residents and support the city's growth. Our proactive measures during the monsoon season demonstrate our commitment to excellence and community well-being. We will continue to work diligently to ensure this project is completed on time and to the highest standards," said Imran Amin, CEO CBD Punjab.

The Walton Road Upgradation Project is poised to set new benchmarks in urban development, contributing to sustainable growth and improved quality of life for Lahore's residents. CBD Punjab remains committed to transforming visions into tangible, lasting improvements for the community.

Mahana Bachat & Takaful Flexi Plan – An innovative Shariah-compliant investment-linked Takaful plan by Pak-Qatar Family Takaful

                                           

 Pak-Qatar Family Takaful Limited (PQFTL) has launched a one-of-a-kind Shariah-compliant investment plan by the name of Mahana Bachat & Takaful Flexi Plan (MBTP).

MBTP offers members 100% Shariah-compliant returns with a minimum contribution amount of PKR 50,000. Participants can further increase their returns through regular top-up contributions as low as PKR 1,000 per month. The plan allows for easy online withdrawals, both partial and permanent. Participants may also withdraw profit in the form of an additional steady monthly income. The benefit that stands out among all other benefits is that it includes complimentary Takaful coverage of up to PKR 30 million or 6-multiple of the last 3 months’ average cash value, whichever is lower.

Beyond these key benefits, MBTP offers discounts on other Takaful covers, including a discounted rate of 1.35% on motor, 25% discount on travel, 20% on home, 50% on individual health, and 50% on additional life Takaful. This unique value proposition sets MBTP apart from similar plans in the country.

"We are pleased to offer this unique plan which is a Shariah-compliant investment-linked Takaful plan that caters to the growing demand for financial security and flexibility. It offers unmatched value with its combination of competitive returns, easy onboarding and withdrawals, with complimentary Takaful coverage.” said Mr. Waqas Ahmad, CEO of Pak-Qatar Family Takaful Limited. “We have also introduced an easy-to-use mobile app for the servicing of the plan. This is a reflection of our commitment to developing innovative Shariah-compliant solutions that empower our members to achieve their financial goals.”

NEWLY APPOINTED PAKISTANI AMBASSADOR TO THE UNITED STATES, RIZWAN SAEED SHEIKH, VISITS CBD PUNJAB

                  

AMBASSADOR SHEIKH AND RENOWNED BUSINESSMAN TAHIR JAVED DISCUSS COLLABORATION WITH CEO IMRAN AMIN TO PROMOTE CBD PUNJAB PROJECTS IN THE U.S.

The newly appointed Pakistani Ambassador to U.S. Rizwan Saeed Sheikh, visited Punjab Central Business District Development Authourity (PCBDDA), also known as Central Business District Punjab (CBD Punjab) in a bid to discuss potential opportunities to attract foreign investment and foster relation between Pakistan and U.S. Accompanying him was the prominent business figure Tahir Javed. The visit was marked by a comprehensive briefing provided by Imran Amin, CEO of CBD Punjab, who outlined the various ongoing and planned projects under the CBD Punjab initiative.

The briefing session was attended by COO CBD Punjab, Brigadier (R) Mansoor Janjua, Executive Director Technical, Riaz Hussain, Director Marketing, Waseem Sadiq, and Director Architecture and Planning Sameer Aftab Sial. Each of these officials contributed insights into their respective domains, highlighting the integrated and multifaceted approach of CBD Punjab towards urban development and economic growth.

During the briefing, Ambassador Rizwan Saeed Sheikh underscored the transformative potential of CBD Punjab's projects. He stated, "CBD Punjab’s initiatives can be game changer for the region. These projects are equipped with all the features necessary to attract international investment." His comments reflected a strong endorsement of the vision and execution strategy of CBD Punjab, emphasizing the critical role these projects could play in regional development and international investment attraction.

CEO Imran Amin expressed his satisfaction and pride at the recognition received from the Pakistani Ambassador to the United States. He remarked, "It is encouraging to see the appreciation from our ambassador. We invite the American business community to invest in CBD Punjab’s projects, which will contribute to writing a new chapter of development for the province of Punjab.".

The discussion extended beyond mere appreciation and recognition, leading to actionable outcomes aimed at fostering closer ties between CBD Punjab and the American business community. One of the notable outcomes of the meeting was the agreement to establish a CBD Punjab NSIT Facilitation Desk within the Pakistani Embassy in Washington, D.C. This desk is envisioned as a dedicated resource to assist and facilitate American investors interested in exploring opportunities within the CBD Punjab projects. 

Additionally, the meeting concluded with a commitment from CBD Punjab to actively participate in business networking events in the United States. This participation is expected to provide CBD Punjab with direct access to the American business community, enabling it to showcase its projects, share insights, and build valuable connections. By engaging in these events, CBD Punjab aims to raise awareness about its initiatives, highlight the investment opportunities available, and attract a diverse range of investors.