CBD PUNJAB ADVANCES WALTON ROAD REVAMP WITH NEW ASPHALT LAYERING

                     

Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), has achieved a significant milestone in the ongoing Walton Road Upgradation Project by commencing asphalt layering. This initiative marks a crucial step towards enhancing Lahore's infrastructure and improving connectivity across the city.

The Walton Road Upgradation Project, nearing completion, is poised to transform the city's infrastructure landscape. The latest phase of asphalt layering has commenced from Defence Morr towards Major Ishaq Shaheed Flyover, almost 900 tons of asphalt is completed in first phase. This phase will extend further, covering the stretch from Ferozepur Road to Defence Morr, resulting in a complete six-lane carriageway.

CEO of CBD Punjab, Imran Amin, has personally overseen the project's progress, directing contractors to mobilize all necessary machinery for seamless execution of asphalt layering operations. 

Executive Director Technical, Riaz Hussain, affirmed CBD Punjab's commitment to adhere to the project schedule, emphasizing that both carriage ways of Walton Road will be fully functional for traffic by the end of October 2024, in accordance with directives from Chief Minister Punjab, Maryam Nawaz.

This development underscores CBD Punjab's dedication to enhancing urban infrastructure, facilitating smoother traffic flow, and ensuring sustainable development across Lahore.

CEO CBD PUNJAB ASSESSES WALTON ROAD UPGRADATION AND CELESTIA IT TOWER CONSTRUCTION IN LAHORE

                                  

 Imran Amin, CEO of the Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), chaired a high-level meeting to assess the progress of the Walton Road Upgradation Project. Following the meeting, he conducted an on-site visit to Pakistan's premier and largest IT hub, CBD NSIT City, to review the ongoing construction of the Celestia IT Tower and associated roadworks.

The progress review meeting was attended by key stakeholders, including Executive Director Technical CBD Punjab Riaz Hussain, Director Construction CBD Punjab Asif Babar, Project Director NLC Brigadier (R) Umar Farooqi, senior officials from NLC, NESPAK, and the official contractors. 

During the meeting, CEO Imran Amin was briefed on the status of  projects.Significant advancements have been made to the Walton Road Upgradation Project. The completion of the ADA Nullah connection with the newly constructed ADA Nullah has resulted in a significant drop in the water level, reducing it by 4 feet. The shuttering for the major Ishaq Shaheed Flyover has been successfully removed, and the water-bound on both carriageways has reached 70% completion. The asphalt work on the junction of CBD Route 47 and Walton Road is set to commence shortly.

In CBD NSIT City, the construction of the Celestia IT Tower is progressing at a steady pace. Excavation work has reached a depth of 50 feet, and ground lean work is currently underway. Road and infrastructure developments around the tower are also in full swing.

Commenting on the progress of the projects, CEO Imran Amin stated, "Both the Walton Road Upgradation and Celestia IT Tower projects hold immense significance for the infrastructure development of Lahore. We are committed to ensuring their timely completion in accordance with the directives of Chief Minister Punjab, Maryam Nawaz. These projects are will play a pivotal role in transforming the urban landscape of the city."

The Punjab Central Business District Development Authority remains dedicated to enhancing Punjab's infrastructure, positioning it as a leading province for business, technology, and innovation in Pakistan. The Walton Road Upgradation and Celestia IT Tower projects are key components of this vision, promising to elevate the standards of urban development in the region.

Artificial intelligence is reshaping talent and skills opportunities in accountancy

                                                           

Advent of artificial intelligence (AI) provides crucial extra impetus to the ongoing skills evolution

Integration of AI in accountancy and finance presents both challenges and opportunities for the profession. But ACCA research suggests that while there is a need to continuously evolve the skillset and knowledge base, there are also strong foundations in place from which finance professionals can position themselves and their organisations for success in this new era.

 

An ACCA skills analysis of 25,000 accountancy-related jobs found that analytical and audit roles were most likely to require advanced capabilities – such as data science knowledge – while data management skills were in greater demand for transactional roles.

 

Alistair Brisbourne, Head of Technology Research, ACCA, said: ‘Data skills are always evolving and so it’s no surprise to see that there is emerging demand for data science and engineering skills as well as data management skills by employers.  

 

‘That reflects the importance of data-driven decision making within organisations. But it also reflects a profession that is looking to become more pre-emptive in how we use data to solve challenges.’

 

The research – AI Monitor: Skills to drive responsible AI adoption – found that shifting to forward-looking predictive analytics and away from backward-looking dashboards requires a change in tools and skillset.

Predictive analytics is a route to tackling important areas including ESG/sustainability and even elements of risk management. Accounting professionals are now expected to understand a wider variety of data types. Indeed, in a survey of over 900 senior finance leaders who are currently using AI, ACCA found that organisations are anticipating that almost half of finance function roles will be more data-centric – i.e data science or engineering type roles – in the future.

 

Brisbourne said: ‘The integration of AI provides extra impetus to the skills evolution, but one of the most important roles that accountants can play is in being stewards of innovation. That means focusing on value and responsible use of technologies like AI.’

 

AI Monitor: Skills to drive responsible AI adoption points out that there is a crucial balance to be struck. On the one hand, data literacy is evolving to incorporate specific needs associated with the integration of AI and machine learning.

 

On the other hand, the research underlined the fact that AI adoption cannot be tackled by specialists alone – accountancy and finance professionals have a unique role to play in bridging the gap between technical teams, the business, and regulators.

 

Brisbourne concluded: ‘AI adoption is still gathering pace, but the benefits are not a foregone conclusion. That will rely on the right skills and understanding, on the one hand; but success also depends on effective guidance from domain experts like accounting and finance professionals to help them obtain value from those technologies and tackle serious risks.’

 

Read AI Monitor: Skills to drive responsible AI adoption

From Lahore to Vietnam: Pakistani Sellers Gear Up for Alibaba.com KEL Awards Regional Finale

            

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today hosted the finale of the Pakistan round of its Key E-commerce Leader Awards (KEL Awards) in Lahore to celebrate the exceptional e-commerce sellers of Pakistan. The event showcased the remarkable talents of six top country finalists each delivering insightful presentations that highlighted their achievements and the strategies that fueled their success on the Alibaba.com platform. 

The competition concluded with the selection of all six finalists, as Alibaba.com Pakistan Ambassadors for 2024. Tayyub Hussnain from Norwich Streetwear and Muzafar Hussain, from JNM Leather Safety Gloves were honored as Alibaba.com Pakistan Key E-commerce Leaders for 2024 and will represent Pakistan in the KEL Awards Regional Finale, set to take place in Vietnam later this year. Additionally, today’s event in Pakistan featured a People's Choice Award for 2024, with Tayyub Hussnain from Norwich Streetwear receiving recognition based on audience voting.

The Pakistan KEL Awards finale was held by Alibaba.com in collaboration with the Trade Development Authority of Pakistan (TDAP). The award’s judging panel, consisting Adil Mukhtar (Assistant Director of TDAP), Rocky Lu (Head of Pakistan Business, Alibaba.com), Muhammad Sadiq (Senior Growth Manager, Alibaba.com), and Joanna Xu (Seller Operations Manager, Alibaba.com) tasked with the challenging mission of evaluating each presentation.

Rocky Lu, Head of Pakistan Business at Alibaba.com, emphasized the significance of the awards, stating, “The Pakistan KEL Awards are a testament to the entrepreneurial excellence present in this country. We are proud to provide a platform where sellers here can showcase their success and have the opportunity to be recognized on a regional stage. It is not merely a competition. It is a celebration of the ingenuity and resilience of small and medium-sized enterprises (SMEs) that are pushing the boundaries of global trade. Through this initiative, we hope to inspire and help even more SMEs to seize opportunities in the global marketplace.”

The Alibaba.com KEL Awards aims to gather top-notch suppliers from across the South and Southeast Asia region to foster mutual learning and engagements, while also providing a unique opportunity for participants to amplify their influence within Alibaba.com’s global community of buyers and suppliers. With more than 250 global sellers participating.

Rafia Syed, Director General of TDAP, emphasized the importance of showcasing local businesses on a global stage. “The KEL Awards, hosted by Alibaba.com, mark a significant milestone in nurturing the entrepreneurial spirit within Pakistan's e-commerce sector. We take pride in witnessing our local businesses receive recognition in such a prestigious arena.”

One of the six finalists, Tayyub Hussnain from Norwich Streetwear, shared a compelling story that underscores the transformative power of ambition and innovation in e-commerce. After graduating from Govt. Murray College in Sialkot in 2014, he embarked on his career with a modest monthly salary of 16,000 PKR. His entrepreneurial journey in the apparel industry was catalyzed when he received a laptop from the Chief Minister of Punjab, which introduced him to Alibaba.com. Through this platform, he secured his first major order of 770 pieces of clothing, an accomplishment that significantly boosted his confidence. This newfound assurance led Hussnain to leave his stable job and devote himself fully to building his business on Alibaba.com.

By transitioning into full-time entrepreneurship, he recognized the immense potential of e-commerce and harnessed the platform's global reach. Starting with just one seller account, Hussnain methodically expanded his business by focusing on market demand, quality and nurturing customer relationships. A remarkable milestone was achieved in 2023 when he landed the largest order to date—valued at $1 million—through Alibaba.com. This impressive growth was not only a highlight of Hussnain's entrepreneurial journey but also serves as an inspiration for aspiring entrepreneurs in Pakistan to harness technology in the pursuit of their dreams.

Finalists in the Alibaba.com KEL Award Country Finale include:

• Tayyub Hussnain from Norwich Streetwear
• Rauf Abdul from Minerals Route Pvt Ltd
• Muzafar Hussain from JNM Leather Safety Gloves
• Hamza Imtiaz from Black Cheetah
• Sohaib Naseem from Fashion Traders
• Usman Mughal from Gray Rocks Enterprises

            

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today hosted the finale of the Pakistan round of its Key E-commerce Leader Awards (KEL Awards) in Lahore to celebrate the exceptional e-commerce sellers of Pakistan. The event showcased the remarkable talents of six top country finalists each delivering insightful presentations that highlighted their achievements and the strategies that fueled their success on the Alibaba.com platform. 

The competition concluded with the selection of all six finalists, as Alibaba.com Pakistan Ambassadors for 2024. Tayyub Hussnain from Norwich Streetwear and Muzafar Hussain, from JNM Leather Safety Gloves were honored as Alibaba.com Pakistan Key E-commerce Leaders for 2024 and will represent Pakistan in the KEL Awards Regional Finale, set to take place in Vietnam later this year. Additionally, today’s event in Pakistan featured a People's Choice Award for 2024, with Tayyub Hussnain from Norwich Streetwear receiving recognition based on audience voting.

The Pakistan KEL Awards finale was held by Alibaba.com in collaboration with the Trade Development Authority of Pakistan (TDAP). The award’s judging panel, consisting Adil Mukhtar (Assistant Director of TDAP), Rocky Lu (Head of Pakistan Business, Alibaba.com), Muhammad Sadiq (Senior Growth Manager, Alibaba.com), and Joanna Xu (Seller Operations Manager, Alibaba.com) tasked with the challenging mission of evaluating each presentation.

Rocky Lu, Head of Pakistan Business at Alibaba.com, emphasized the significance of the awards, stating, “The Pakistan KEL Awards are a testament to the entrepreneurial excellence present in this country. We are proud to provide a platform where sellers here can showcase their success and have the opportunity to be recognized on a regional stage. It is not merely a competition. It is a celebration of the ingenuity and resilience of small and medium-sized enterprises (SMEs) that are pushing the boundaries of global trade. Through this initiative, we hope to inspire and help even more SMEs to seize opportunities in the global marketplace.”

The Alibaba.com KEL Awards aims to gather top-notch suppliers from across the South and Southeast Asia region to foster mutual learning and engagements, while also providing a unique opportunity for participants to amplify their influence within Alibaba.com’s global community of buyers and suppliers. With more than 250 global sellers participating.

Rafia Syed, Director General of TDAP, emphasized the importance of showcasing local businesses on a global stage. “The KEL Awards, hosted by Alibaba.com, mark a significant milestone in nurturing the entrepreneurial spirit within Pakistan's e-commerce sector. We take pride in witnessing our local businesses receive recognition in such a prestigious arena.”

One of the six finalists, Tayyub Hussnain from Norwich Streetwear, shared a compelling story that underscores the transformative power of ambition and innovation in e-commerce. After graduating from Govt. Murray College in Sialkot in 2014, he embarked on his career with a modest monthly salary of 16,000 PKR. His entrepreneurial journey in the apparel industry was catalyzed when he received a laptop from the Chief Minister of Punjab, which introduced him to Alibaba.com. Through this platform, he secured his first major order of 770 pieces of clothing, an accomplishment that significantly boosted his confidence. This newfound assurance led Hussnain to leave his stable job and devote himself fully to building his business on Alibaba.com.

By transitioning into full-time entrepreneurship, he recognized the immense potential of e-commerce and harnessed the platform's global reach. Starting with just one seller account, Hussnain methodically expanded his business by focusing on market demand, quality and nurturing customer relationships. A remarkable milestone was achieved in 2023 when he landed the largest order to date—valued at $1 million—through Alibaba.com. This impressive growth was not only a highlight of Hussnain's entrepreneurial journey but also serves as an inspiration for aspiring entrepreneurs in Pakistan to harness technology in the pursuit of their dreams.

Finalists in the Alibaba.com KEL Award Country Finale include:

• Tayyub Hussnain from Norwich Streetwear
• Rauf Abdul from Minerals Route Pvt Ltd
• Muzafar Hussain from JNM Leather Safety Gloves
• Hamza Imtiaz from Black Cheetah
• Sohaib Naseem from Fashion Traders
• Usman Mughal from Gray Rocks Enterprises

 

Joshua Cheptegei and Infinix: A Partnership for Progress

       

Infinix, a popular tech brand tailored for young consumers, proudly celebrates Joshua Cheptegei, the brand ambassador from Uganda, for his gold medal victory in the 10,000m race at the Paris 2024 Olympics. Cheptegei set a new Olympic record of 26:43.14, showcasing his dedication, speed, and strategic skill on the track.

"Infinix is proud to celebrate Joshua Cheptegei's remarkable Olympic triumph and continue our partnership in driving progress and empowering youth. Cheptegei's inspiring achievements on the track and our joint efforts to bridge the digital divide exemplify our shared values of excellence, innovation, and creating a brighter future for young generations.” Lake Hu, Chief Marketing Officer at Infinix.

At 28, Cheptegei is a leading figure in long-distance running, holding world records in the 5,000m, 10,000m, and 15km events. In 2020, he became the first person to run 5 kilometers in under 13 minutes (12:51). With four world championships to his name, Cheptegei is a standout distance runner of his generation.

As a brand ambassador for Infinix's latest NOTE 40 Series, Joshua Cheptegei represents the perfect fusion of athletic speed and cutting-edge technology. The NOTE 40 Series offers significant advancements in performance, including 100W Multi-Speed FastCharge, Wireless MagCharge, and a custom power management chip Cheetah X1. These features set new standards in mid-range fast-charging smartphones.

Beyond sports sponsorship, Infinix and Joshua Cheptegei are also working to bridge the digital divide in Uganda. Their partnership focuses on equipping underserved schools with Infinix’s latest technology, including laptops and tablets, to enhance digital literacy for students and teachers. This initiative, in collaboration with the Joshua Cheptegei Development Foundation (JCDF), aims to provide essential tech resources to his school at the Multipurpose block and Library.

With a focus on educational equality, Infinix aims to deliver AI education globally, inspiring and empowering the next generation to harness the transformative power of AI and machine learning for sustainable development. Infinix’s "Get In Now" brand attitude resonates with Cheptegei's spirit of breaking boundaries and self-transcendence. Together, Infinix and Cheptegei are set to captivate the world with their shared commitment to pushing boundaries and achieving excellence in sports, technology, and education.

TCL Inaugurates First Flagship Store in Gujranwala, Showcasing World’s Largest LED TV

TCL, the world’s No. 1 LED TV brand, proudly announces the grand opening of its first flagship store in Gujranwala, a significant milestone in expanding its presence in the region. This new store reflects TCL’s unwavering commitment to delivering immersive entertainment experiences through innovative technology.

The event attracted considerable attention with special appearances by Pakistan’s national weightlifting champions, Nooh Dastgir, Gold medalist at the Commonwealth Games, and Usman Rathore, Silver medalist at the Commonwealth Championship. Their presence underscores TCL’s dedication to celebrating and supporting Pakistan’s national heroes and promoting local talent.

This flagship store symbolizes TCL’s dedication to providing innovative home entertainment solutions, solidifying its position as a global leader in the technology and entertainment sector.

 

Majid Khan Niazi, Director of Marketing, TCL Middle East and Africa, remarked, “The opening of our flagship store in Gujranwala is a pivotal moment for TCL as we continue our mission to bring innovative technology and superior entertainment experiences to homes across Pakistan.  We are excited to offer Gujranwala’s residents an unmatched opportunity to engage with our cutting-edge products.”

Located at Tipu Chowk, Block B, Satellite Town, the TCL flagship store offers an interactive environment where customers can experience premium home entertainment solutions firsthand. The store features the latest TCL innovations, including the world’s largest LED TV, the 115-inch X955 Max, underscoring the brand’s leadership in technology.

“OPPO Reno12 F Goes Nationwide: AI-Powered Innovation Meets Robust Protection and Connectivity”

                                                                  

OPPO, the global leader in smart devices, has announced the nationwide availability of its latest Reno 12 F, equipped with advanced AI features and ultimate durability. The Reno12 series, highlighted by its AI capabilities and robust All-Round Armour protection, has already been well-received by the public for its industry-leading AI features and remarkable durability. With AI tools like AI Eraser and AI LinkBoost, the Reno12 series offers an unparalleled user experience, enhancing everything from photography to network connectivity.

The key features of the series include:

AI Eraser: Remove/erase any object in your picture with AI Eraser by selecting them. It rivals professional editing software and provides spotless, cleaner and more professional-looking photos every time.

 

AI LinkBoost: OPPO Reno12's AI LinkBoost enhances connectivity by combining a 360º Surround Antenna, enhanced antenna power, and smart network selection for unmatched performance, even in weak signal areas or complex network conditions.

 

All-Round Armour: Protect your phone inside and out with advanced durability features, including IPX64 Water and Dust Resistance for Reno12 F, Anti Pressure, Anti Smash technology and SGS-certified performance in various conditions. It can survive under high-pressure weight, highly heated environments and functions smoothly even with watery or oily hands.

 

AI Studio: Utilizing cutting-edge GenAI technology, AI Studio provides a variety of creative and dynamic backgrounds, allowing you to craft distinctive digital personas.

 

In addition to these AI features, The OPPO Reno12 F 5G also features Smart Image Matting 2.0 which enables precise multi-subject cutouts that you can now also save for future use. For enhanced productivity, the phone includes AI tools such as AI Recording Summary, AI Writer, AI Summary and AI Speak.

 

The devices come equipped with a 50MP Main Camera and a 32MP selfie camera. The Reno12 series features a long-lasting 5,000mAh battery, supported by 45W SUPERVOOCTM Flash Charge. All variants are slim and lightweight, featuring a 120Hz Smart Adaptive Screen with up to 2,100 nits of peak brightness for vivid visuals. The Reno12 F operates on ColorOS 14.0, offering improved productivity, security, and efficiency.

 

The series includes 3 variants Reno12 F 4G, Reno12 F 5G and Reno12 5G with Reno12 F 4G priced at 69,999. Step into the world of AI with OPPO Reno12 F, available nationwide at OPPO stores, Naeem Electronics and online at our official OPPO store on Daraz. Come and Join us to experience the OPPO Reno12 F firsthand at the following OPPO Pop-up Spaces located in:

- Emporium Mall, Lahore

- Dolmen Mall Clifton, Karachi

- Centaurus Mall, Islamabad

Order OPPO Reno12 F at your nearby mobile retail stores or Naeem Electronics to enjoy exclusive first-sale offers and a chance to win exciting gifts.

You can also visit our official store on Daraz to place your order: https://www.daraz.pk/shop/oppo

CBD PUNJAB CELEBRATE 77H INDEPENDENCE DAY WITH PATRIOTIC ZEAL

                                           

In celebration of Pakistan’s 77th Independence Day, CBD Punjab hosted a grand ceremony at CBD Punjab Quaid District, marked by a profound display of patriotism. The event was graced by Brigadier (R) Mansoor Janjua, COO of CBD Punjab, as the guest of honor.

The ceremony saw the enthusiastic participation of senior officials and staff members of CBD Punjab. The event commenced with the hoisting of the national flag, accompanied by prayers for the nation’s continued progress and prosperity. 

In his address, Brigadier (R) Mansoor Janjua expressed his pride in Pakistan's journey over the past 77 years, acknowledging the numerous challenges and triumphs the nation has faced. He highlighted CBD Punjab's significant contribution to the country's development, emphasizing the authority's expansion beyond Lahore into the wider Punjab region. He also  reiterated his hopes for Pakistan's ongoing progress and prosperity.

On the eve of Independence CBD Punjab illuminated the skies with a mesmerising display of fireworks at CBD Punjab Quaid District.The ceremony concluded with the distribution of prizes to the winners of  speech and quiz competitions held among CBD Punjab's staff, followed by the cutting of a special Independence Day cake.

Alibaba.com Lowers Barrier for Pakistan SMEs to Go Global with New, Affordable Global Gold Supplier-Lite Package

                                            

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today announced the launch of its new Global Gold Supplier-Lite Package in Pakistan. This new, affordable membership program aims to allow Pakistan small and medium-sized enterprises (SMEs) to tap into the vast global market with ease. The launch comes as local SMEs increasingly embrace digitalization, with a remarkable 88% surge in the number of sellers joining Alibaba.com in July 2024 compared to the same period last year.

 Pakistan’s digital ecosystem is currently experiencing a significant growth. According to a report by Statista, Pakistan’s e-commerce market is projected to reach approximately PKR 1.4 trillion (around US$50 billion) by 20241 and the number of e-commerce users is expected to amount to 14 million users by 2029. This digital adoption, coupled with strong smartphone usage, has created fertile grounds for e-commerce businesses to thrive. SMEs are at the forefront of this digital revolution, recognizing the immense potential of online platforms to reach a global audience and expand their reach beyond domestic markets.

 Alibaba.com’s new Global Gold Supplier-Lite Package aims to help SMEs capitalize on the growing trend of digitalization. With its more affordable pricing and offering of a curated yet essential set of advanced digital tools designed specifically for global trade, the Global Gold Supplier-Lite Package significantly lowers entry barriers and equips Pakistan businesses with little or no online export experience to effectively unlock opportunities in global trade.

 “Pakistan’s e-commerce landscape is experiencing phenomenal growth, with SMEs playing a crucial role in driving this digital transformation,” said Rocky Lu, Head of Pakistan Business at Alibaba.com. “Alibaba.com is firmly committed to supporting Pakistan SMEs’ success in the digital age, and the Global Gold Supplier-Lite Package is a continuation of this commitment. Introduced with new and aspiring exporters in mind, the Global Gold Supplier-Lite Package is a more affordable version of our regular Global Gold Supplier service, allowing SMEs to test the waters and enter the global B2B market without significant upfront investment while enjoying access to some of the latest digital tools they need to thrive in the global marketplace.”

 The Global Gold Supplier-Lite Package streamlines various aspects of online B2B commerce and allows Pakistan SMEs to focus on growth by offering the following features:

 

·   Simplified Tasks & Extra Exposure: The platform guides GGS-Lite members on their Alibaba.com journey by assigning beginner-friendly tasks that help them unlock opportunities for increased visibility.

·    Simplified Star Rating System: GGS-Lite members are rated on a streamlined rating system, which simplifies the process for buyers to evaluate suppliers.

·      Business Opportunity Rewards: GGS-Lite members can enjoy access to exclusive incentives and rewards programs to connect with potential buyers.

 

In addition, Global Gold Supplier-Lite Package members will be entitled to a suite of intelligent tools. These intelligent features, which streamline online business operations and enhance global reach, include:

·     Advanced AI Tools: Gain valuable insights into buyer behavior and market trends to optimize product listings and marketing strategies.

·  One-Click Product Optimization: Effortlessly enhance product listings with AI-powered suggestions for better visibility and search rankings.

·      Smart Off-Hours Auto-Reception: Never miss a potential business opportunity with automated responses to inquiries, even outside business hours.

·      Fluent Multi-Lingual Translation: Overcome language barriers and effectively communicate with international buyers through automatic translation capabilities.

Maryam Government’s Green Tractor Scheme to Bolster Agricultural and Industrial Economy: PAAPAM

                              

 The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has lauded the recent agricultural initiative spearheaded by Maryam Nawaz, aimed at providing subsidized tractors to farmers in Punjab. In a recently held executive committee meeting, PAAPAM's leadership, including Chairman Mr. Abdur Rehman, Senior Vice Chairman Mr. Mumshad Ali, and Vice Chairman Mr. Taufiq Sherwani, expressed their support for the scheme, noting its potential to significantly enhance Punjab's agricultural economy, thereby contributing to the overall national economy.

The leadership drew parallels between this initiative and similar efforts made by the previous PML-N government under Mian Muhammad Shehbaz Sharif. They emphasized that the current government's approach of directly supporting farmers through subsidies is far more effective than the previous practice of providing support via wheat price guarantees, which often resulted in inefficiencies, corruption, and misallocation of funds.

PAAPAM representatives highlighted the broad impact of this subsidy, which extends beyond agriculture to bolster Punjab's industrial base. The scheme supports over 250 part suppliers to the two major tractor assemblers in the province, Millat Tractors and Al-Ghazi Tractors. These companies are responsible for producing some of the most affordable and durable tractors in the world, with a strong sale and service network across Pakistan. The tractor industry in Punjab, employing thousands of skilled and semi-skilled workers, is a cornerstone of Pakistan's engineering sector, contributing not only to the domestic market but also to exports and other industries, including automobiles, motorcycles, and home appliances.

Mr. Mumshad Ali noted that the contribution of the tractor parts industry to the national economy is often underappreciated. He emphasized the significant progress Pakistan's engineering sector has made since independence, evolving from a cottage industry into a vital component of the national economy.

However, Mr. Ali also expressed concern over the recent drop in tractor bookings following the announcement of the subsidy, as farmers anticipate the 1.5 million PKR subsidy per tractor, applicable to 20,000 tractors across Punjab's districts. He suggested that the subsidy amount be reduced to 1 million PKR, allowing for an increase in the number of subsidized tractors to 30,000 units per annum. He also proposed that this subsidy be made a permanent feature of the Punjab finance bill.

PAAPAM has decided to formally approach the Punjab Finance and Agriculture Ministers with these recommendations to ensure the scheme's long-term success and broader impact on both the agricultural and industrial sectors of Punjab.

Embracing neurodiversity brings business benefits, says new ACCA report

                                                     

ACCA’s latest report ‘Neurodiversity in accountancy’ explores the growing awareness by employers that those who are neurodivergent have real value to bring to an organisation. The report highlights targeted hiring programmes that have actively sought out neurodivergent talent to undertake specific roles.

It’s estimated between 15–20% of the population are neurodivergent. As a result, organisations have a moral responsibility to include and support neurodivergent individuals, creating workplace environments where everyone’s challenges are supported and strengths are celebrated, and where neurodivergent individuals can thrive.

The business benefits for organisations that embrace neurodiversity include:

§  Diverse thinking: neurodiversity brings unique viewpoints, problem-solving approaches, fresh ideas and innovative solutions.

§  Increased productivity: accommodations for neurodiverse individuals enhance overall productivity.

§  Talent attraction: focusing on building neuro-inclusive workplaces attracts candidates – especially Generation Z.

§  Talent retention: a neuro-inclusive environment fosters loyalty and reduces turnover.

§  Enhanced creativity: neurodiverse individuals often think ‘outside the box’.

§  Positive workplace culture: Employees feel respected and valued, leading to better morale.

This report shares stories of individuals who are neurodivergent within the accountancy profession and ultimately celebrates thinking differently, representing organisations as diverse as accountancy firms EY and Cooper Parry, recruitment firm Michael Page Malaysia, HMRC (the UK’s tax authority) and The Ritz London hotel. Numerous benefits to organisations were cited, from brand recognition and winning new business to accessing previously untapped talent pools. Bringing innovation, creativity and other valuable skills to the organisation was also recognised as a key benefit. Ultimately, a proactive approach in this area has an impact on creating value for an organisation, both financially and socially.

Report co-author Jamie Lyon, head of skills sectors and technology at ACCA says: ‘Supporting neurodivergent employees is essential for creating an inclusive workplace and this doesn’t need to be complex. Often knowing where to start can be the biggest challenge. Organisations can approach neuro-inclusion at both an organisational and individual level. The aim for any organisation should be neuro-inclusive design, where possible adjustments and ways of working are part of standard practice and no longer need to be requested.’

The research sought to understand the challenges neurodivergent individuals face at work and in education; their strengths; how organisations have implemented support at both the organisation and individual level; and thoughts about the future of neurodiversity at work.

It concludes with key recommendations for organisations to better support their neurodivergent employee community, from leadership buy in and sponsorship, education and training opportunities, through to inclusive job descriptions and recruitment practices.

Report co-author Tania Martin, Neuro-inclusion consultant at PegSquared concludes by saying ‘With an estimated one in five of the workforce being neurodivergent, and more people willing to openly share their stories, it is becoming even more important that employers are proactive in understanding and building neuro-inclusive workplaces. So often we find what works for one, benefits so many.  But broader than that, neurodiversity also impacts employers’ clients and customers.  Having an understanding of neuro-inclusion can be a competitive advantage – harnessing neurodiversity is ultimately good for business.’ 

Read the report and access the employers’ guide here. 

Tractor Industry Faces Shutdown as Paapam Seeks Prime Minister's Intervention

The Pakistan Association of Automotive Parts & Accessories Manufacturers (Paapam) has announced that the tractor industry is on the brink of a complete shutdown due to the Federal Board of Revenue's (FBR) prolonged withholding of GST refunds and the recent implementation of the new GST regime under SRO 563. This situation has created a severe cash flow crisis across the entire supply chain, affecting everything from raw material suppliers to small and medium-sized enterprises (SMEs) involved in the engineering sector.

The issue has escalated to a point where Paapam has decided to approach the Prime Minister directly, as previous attempts to resolve the matter with the Finance and Industries ministries have proven unsuccessful.

"It appears that the FBR has more power than the government itself, holding the entire engineering base of the country hostage," said Paapam Chairman Mr. Abdur Rehman. "The situation is dire, with the GST refunds being withheld from tractor assemblers for years, and the new SRO 563 further complicating the issue."

The chairman further explained that the entire supply chain—from steel suppliers to the vast engineering SME base that contributes to the production of the world's most affordable agricultural tractors—is at a complete standstill. The FBR's actions threaten not only jobs but also tax revenue, import substitution, and the export of tractors and parts.

When asked for details, Paapam Senior Vice Chairman Mr. Mumshad Ali revealed that at least 250 direct suppliers to the country's two major tractor assemblers, Millat Tractors and Al-Ghazi Tractors, have halted operations due to delayed payments for parts supplied.

 "Assemblers are unable to pay their suppliers, which has forced vendors to shut down their operations. If this continues, the tractor assemblers themselves will be forced to cease operations within a week," he warned.

The root of the problem lies with SRO 563, which governs GST refunds to tractor assemblers. Prior to 2022, refunds were issued under SRO 363, but the new SRO 563 has introduced complications by limiting refunds to farmer buyers only. There is currently no mechanism to distinguish between farmer and non-farmer buyers, leading to billions of rupees in refunds being withheld by the FBR. Additionally, older refunds under SRO 363 remain unpaid, along with penalties, pushing assemblers to seek legal recourse.

This unresolved issue has left the entire tractor industry in limbo. Without these refunds, assemblers are incurring losses on each tractor sold, forcing them to rely on bank borrowings, which have now reached their limits. As a result, they are no longer accepting fresh bookings or invoicing tractors, except those financed through banks. This cash crunch has caused months-long delays in payments to suppliers, a situation that the SME sector cannot sustain.

In light of these developments, the Paapam executive committee has resolved to seek the Prime Minister's intervention.

We need the FBR officers to see the bigger picture and help resolve this issue rather than exacerbate it," Paapam officials stated. The association hopes that by bringing this matter to the highest level of government, a solution can be found to prevent the imminent collapse of the tractor industry.