Punjab Central Business District Development Authority (PCBDDA) is an executing authority to boost the economic activities in Punjab.

                                                 

Kalma Chowk underpass is a gateway towards CBD Punjab’s main entrance. The authority has taken a leading step to revamp the entire Kalma Chowk underpass for smooth flow of traffic. The Kalma Chowk underpass has been designed with the consultation of all government stakeholders, may it be related to traffic, water and sanitisation, electricity, and others. 

The recent heavy rain spell created a havoc situation in the entire city of Lahore, where most of the main arteries have been flooded with rainwater. Kalma Chowk underpass also observed a similar situation. Water & and sewerage channels across the city have blocked water ways, creating large puddles and ponds, which is the main obstruction cause for the water to clear away. 

We once again wanted to clarify that we are only responsible for operational activities within the PCBDDA’s domain. For the infrastructural projects we have delivered or are in the pipeline, we can act only as an executing agency. 

The rainwater at the said underpass was not just direct rainfall but was also the accumulative water flow of adjoining localities overflowing the Saint Marry’ Park Pond. PCBDDA is working with other stakeholders to clear the underpass from rainwater. Despite the shortage of electricity, 8 water pumps mostly on generators are operational at this moment. It is estimated that traffic flow will be clear by later tonight. 

We regret this inconvenience and hope to clear underpass for traffic as soon as possible.

Corporate reporting on sustainability strengthens significantly

                                           

ISSB standards to provide consistent global baseline

Corporate reporting of sustainability-related information takes a significant step forward with the publication of two ground-breaking global standards.

 

ACCA welcomes the publication of two standards from ISSB (the International Sustainability Standards Board) IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures.

 

Helen Brand, ACCA chief executive, said: ‘The launch of these first two global sustainability standards is an important and significant step forward in business reporting, providing a global baseline for comparable information on sustainability issues, which will help investors, financial markets and society more widely. The focus they provide will help drive the positive changes we need in the way businesses operate in the face of the threat from climate change.

 

‘ACCA will continue to support the ISSB’s important work. The influence of the accountancy profession – with its members working inside and advising businesses across the world – means it has a hugely important role to play in creating a better, more sustainable world that works for everyone. Consistent global standards are a key part of that picture and we look forward to playing our role in driving their success.’

 

The first corporate reports aligned with the new standards will be for 2024 reports published in 2025 with the picture varying by jurisdiction. In some jurisdictions large and listed companies and public interest entities will be required to publish sustainability reports as early as 2025. And SMEs may well be required to provide sustainability reporting as part of value chain reporting.

 

Assad Hameed Khan, head of ACCA Pakistan, said: ‘These standards will make sustainability reporting more consistent, connected and meaningful. Importantly, they mark the early stages of the work accountancy professionals are achieving in driving systematic changes in sustainability reporting and its integration with financial reporting. They will drive wider changes too as sustainability reporting is likely to drive sustainability-led strategies, and there will be operational changes required to implement them and their reporting. Investors will see this as the start of providing the information they require to allocate capital more efficiently and responsibly.’

 

‘We look forward to continuing to work with the ISSB and other stakeholders in playing our part to build sustainability reporting capacity and tackle the climate emergency.’

 

Building on the framework for Integrated Reporting <IR>, IFRS S1 emphasises the need for consistency and connection between financial statements and sustainability reporting. Those using the standards are expected to explain linkages in information and use consistent assumptions.

 

IFRS S2 incorporates The Task Force on Climate-Related Financial Disclosures’ (TCFD) recommendations and guidance including the structure of governance, strategy, risk management metrics/targets.

 

Companies which are already reporting by TCFD are well on their way to complying with ISSB.

 

ACCA has been closely involved with the creation of the standards and has worked with the ISSB improving and refining the original draft standard. We also continue to work to develop the accountancy profession’s role in driving sustainability, for example through our ‘Accounting for a better world’ agenda for action, which seeks to drive and highlight the role of accountants in creating a fairer and more sustainable world.

 

Sustainability has been part of the ACCA Qualification since 2013, when Integrated Reporting <IR>, was added to the syllabus. In addition to sustainability reporting, the syllabus now includes topics such as social and environmental assurance, environmental tax, and internal control and management systems for sustainability and environmental reporting. We also offer a wide range of CPD courses in this area.

 

Read more on the ISSB standards.

ACCA's Pakistan careers fair facilitates networking with 200+ employers, opening doors to 600+ finance job roles

                                                       

ACCA (the Association of Chartered Certified Accountants) successfully organised its 4th edition of the Virtual Careers Fair, featuring 200+ top organisations and 600+ job opportunities. The event also included exclusive sessions conducted by industry experts to enhance participants' employability skills.

The event, enabled by a world-class digital platform with exciting features, attracted thousands of accounting and finance students and professionals. They actively engaged with top employers, accessed valuable insights from industry experts, and formed meaningful connections, making the event highly interactive and impactful.

Participating employers represented diverse industries, including Shared Services/BPO, Consultancy, Accounting & Public Practice (including Big 6 and SMPs), Manufacturing (Textile, Cement, and Automotive), BFSI, FMCG/Retail, Property & Construction, Telecom, and Health/Pharma. This wide range of industries showcased a rising demand for ACCA qualified accountancy and finance professionals.

The event garnered overwhelmingly positive feedback from both participating employers and attendees, who highly valued the overall experience. The presence of prominent employers and the caliber of job opportunities showcased through ACCA Careers (online jobs portal) further emphasised the significance of the accountancy profession. Employers expressed their satisfaction with the exceptional pool of highly motivated and qualified individuals, recognising their potential in building resilient and future-ready organisations.

Assad Hameed Khan, Head of ACCA Pakistan, warmly welcomed all attendees and expressed his thoughts on the event, stating, ‘The growth and impact of the Pakistan careers fair are truly remarkable. In the face of global economic uncertainty, initiatives like this play a vital role in super-connecting our employers with globally in-demand ACCA professionals, thereby supporting talent acquisition and fulfilling career needs.’

 

Discount World (DW) partners with Telenor Microfinance Bank (Easypaisa) for strategic alliance

       

Discount World (DW) – An organization that caters more than 13 million + customer base of all the leading banks, insurance industry, pharmaceuticals, financial institutes and corporate entities of Pakistan, on Tuesday signed a memorandum of understanding with the Telenor Microfinance Bank (Easypaisa) – the first scheduled microfinance bank of Pakistan designed to operate as a fintech.

The collaboration between DW and Easypaisa is one revolutionary step forward aimed at facilitating the large consumer base of Easypaisa customers, and this strategic alliance can be termed as one major leap forward in this direction towards strengthening the digital payment platform of Pakistan.

The MoU was signed by Mr. Sultan Richard, Chairman & CEO; Discount World, and Mr. Farhan Hassan, Head of Easypaisa, in the presence of senior officials from both organizations.

Speaking at the signing ceremony, Mr. Sultan Richard, Chairman & CEO DW, said, “We are delighted to partner with Pakistan’s leading digital payment platform, and while DW remains at the forefront of providing convenience to the customers of various institutes in Pakistan, today’s strategic alliance with Easypaisa is yet another step forward in this direction. This alliance will enable to provide added benefits to the large customer base of Easypaisa.”

“We are confident that this partnership will play an instrumental role to our reach and confidence in the market,” added Sultan Richard.

The MoU signing ceremony was followed by a networking session where the senior officials from both organizations discussed the details of collaboration and exchanged ideas for future projects.

Supporting Pakistani Manufacturers: Alibaba.com Joins "Made in Pakistan" Expo Lahore

                                               

Alibaba.com, a leading global B2B e-commerce platform, is slated to participate in the “Made in Pakistan” exhibition to be held at the Lahore International Expo Center from 24-25 June, in celebration of the immense talent and craftsmanship of sellers in Pakistan.

Pakistan has a rich heritage of skilled artisans, craftsmen and manufacturers, but industry events that showcase the country’s remarkable offerings to global buyers are scarce. The two-day "Made in Pakistan" Expo, organized by AB Community Entertainment, is an initiative that will bring together and shine a spotlight on a vibrant community of Pakistani sellers. It will feature an impressive range of products, services and innovations proudly produced in Pakistan.

As a B2B e-commerce player with a 40 million-strong community of global buyers, Alibaba.com recognizes the immense potential of Pakistan’s manufacturers and artisans, and is committed to raising their profile on the world stage by tapping the power of B2B e-commerce.

During the exhibition, sellers visiting the Alibaba.com showcase on-site will have access to personalized consultations with Alibaba.com experts to acquire knowledge of B2B e-commerce, as well as insights on how to kickstart their global export journey using the platform’s digital tools and value-added services.

Don’t miss the opportunity to celebrate Pakistan’s wealth of products and innovations as well as learn about Alibaba.com’s offerings at the “Made in Pakistan” Expo. Join us at the Lahore International Expo Center from 24-25 June at Booth G-4, Exhibition Hall 2 and embark on a potentially transformative journey that will redefine the possibilities for Pakistan's artisans and manufacturers. 

Infinix ranked #45 in Kantar BrandZ Top 50 Chinese Global Brand Builders of 2023!

           

Infinix has once again proven its worth in the global market, securing the 45th position in the prestigious Kantar BrandZ rankings for Top 50 Chinese Global Brand Builders of 2023. This remarkable achievement follows Infinix's recognition in 2022 as a Kantar BrandZ Rising Star among Chinese Global Brand Builders. Such consistent acknowledgment showcases the brand's continuous efforts in capturing the trust and loyalty of consumers, providing them with a strong sense of value associated with the Infinix brand.

"We are deeply honored to receive this recognition from Kantar BrandZ acknowledging our ability to create captivating and meaningful brand narratives that resonate with our global customer base. We extend our heartfelt gratitude to our dedicated fan base worldwide, who appreciate our commitment to empowering young individuals with innovative technology while embracing style and positivity." said Lake Hu, CMO at Infinix.

Building the Infinix Brand

Infinix has successfully expanded its presence across more than 70 global markets by offering high-quality products that combine exceptional performance and cutting-edge design. The brand has gained significant traction by introducing innovative technologies, such as the revolutionary 180W Thunder Charge featured in the ZERO ULTRA smartphone. By analyzing data from a comprehensive brand equity study involving millions of consumers and thousands of brands across various industries, Kantar BrandZ identifies and acknowledges the growth strategies of the most valuable brands worldwide. In 2022, Infinix received the distinction of a Rising Star among Chinese Global Brand Builders. This year's rankings reaffirm Infinix's remarkable progress, showcasing its evolution from a rising star to a globally influential brand, favored by young consumers worldwide.

Infinix remains steadfast in its commitment to foster a strong and distinctive brand identity that resonates with young individuals globally. Alongside this, the company empowers young consumers with innovative and top-of-the-line technology. This unwavering dedication has resulted in the establishment of a passionate and widespread fan base worldwide, cementing Infinix's position as a truly internationally recognized brand. Looking ahead, Infinix aims to further expand its global presence and evolve into a high-tech and trendsetting brand with significant global impact.

DW enters into MoU with RG&CC to promote Golf through a strategic alliance powered by VISA

           

The collaboration of Discount World with Rumanza Golf & Country Club (RG&CC) is aimed at facilitating the VISA premium card holders.

 Discount World (DW) on Tuesday signed a memorandum of understanding with the Rumanza Golf & Country Club (RG&CC), which is Asia’s largest 18-hole 72-par golf course with distinctive features that offer breath-taking views which are treat for both the eyes and the soul.

The alliance which is powered by VISA is one step forward aimed at facilitating the large consumer base of VISA premium card holders, and the initiative taken by Discount World to club with RG&CC could be termed as one essential move by those who possess the never-ending love for Golf.

DW’s strategic alliance will not only be a revolutionary move to promote Golf in the country, but will also facilitate the Golf players across the country to live their dream and excel on the lush green Golf field as a result of the alliance between the two organizations powered by VISA.

“We are extremely thrilled and delighted to partner with the picturesque Rumanza Golf Club, to promote Golf in Pakistan for the locals and tourists who will now have a chance to enjoy Golf with added benefits, as a result of their trust on VISA and being the loyal premium card holders. Today, it gives me great honor to represent Discount World (DW) which acts as the bridge between the beautiful Rumanza Golf Club and the enthusiasts of this sport of Golf, who will be served with added benefits.” said Sultan Richard, Chairman & CEO, DW.

The MoU was signed between Sultan Richard and RG&CC’s Project Sect) Col. Habib-ur-Rehman.

Welcoming the joint alliance powered by VISA, Rumanza Golf & Country Club’s (Project Sect) Col. Habib-ur-Rehman said, “It is a great privilege to tee off this partnership with Discount World which has been powered by VISA, this alliance will pave the ways for the people possessing the love for this sports, while also serving as an opportunity for their loved ones to experience a tranquil and serene view topped up with other facilities on offer ranging from savoring rich gourmet delicacies and regional treats to experience the thematic zones of RG&CC.”