Pak Positive

The Chairman of Pakistan Football Federation Normalization Committee, Haroon Malik, engaged in sporting diplomacy by meeting the Saudi and Denmark Ambassadors to strengthen ties and explore collaboration on football. Amid challenges, PFF is seeking a neutral venue for the upcoming World Cup qualifier against Jordan in March, while preparations are underway for Pakistan to host Saudi Arabia in June.

Pakistan Telecommunication Company Limited (PTCL) and DE-CIX have inaugurated the 'Pakistan Internet Exchange (PIE) powered by DE-CIX,' the country's first carrier-neutral internet exchange. Housed in PTCL's Karachi data center, the exchange, operated by DE-CIX, aims to enhance regional connectivity, providing low-latency interconnection and facilitating the localization of global content. Dr. Umar Saif, Federal Minister of IT & Telecommunication, highlighted its significance for Pakistan's digital economy, while Zarrar Hasham Khan, Group Chief Business Solutions Officer at PTCL & Ufone 4G, emphasized the collaboration's role in advancing the nation's digital infrastructure. DE-CIX CEO Ivo Ivanov sees PIE as crucial for unlocking Pakistan's Internet connectivity potential and fostering a vibrant digital ecosystem.

In the past five years, Pakistan's telecom sector has seen a substantial 25% increase in subscribers, reaching 192.3 million. With teledensity surpassing 80.5%, impressive growth in cell sites, and record revenues of Rs. 850 billion, the sector showcases robust expansion, while regulatory practices maintain affordability, making Pakistan the sixth least expensive country for 1GB of data.

The Ministry of Energy's Petroleum Division is set to host the "Petroleum Conference 2024" in Islamabad, bringing together industry leaders, policymakers, and international delegates to address challenges and discuss trends in the petroleum sector. The event, presided over by Prime Minister Anwar-ul-Haq Kakar, aims to tackle issues like declining indigenous production and heavy energy imports, providing a platform for networking, collaboration, and policy initiatives to boost investment in Pakistan's E&P sector.

Aliya Riaz's phenomenal unbeaten century of 118 runs for Rawalpindi Women against Multan Women set a new record as the highest run-scorer in women's T20 cricket. Despite setting a challenging target of 183, Multan Women fell short, managing only 155 runs in response.

Mari Petroleum Company Limited reported a robust financial performance, with a 57% YoY increase in net profit for 1HFY24, attributed to higher gas and oil production, increased wellhead prices, and Pak Rupee depreciation. The company also declared an interim cash dividend of Rs. 98 per share for 2QFY24.

For the first time in 60 years, the Indian Tennis team has arrived in Islamabad for the Davis Cup Group I Tie against Pakistan, marking a historic moment for Indo-Pak sports. The Indian team, accompanied by coaching staff and journalists, will stay in a secured hotel near the Islamabad Sports Complex for the awaited tennis match with heightened security arrangements.

Jubilee Life Insurance, Pakistan's largest private insurer, has joined forces with NOWPDP to enhance diversity, equity, and inclusivity (DEI) in its workforce. The partnership focuses on recruiting persons with disabilities (PWDs) across various roles, aligning with Jubilee Life's commitment to a robust DEI strategy and promoting meaningful employment opportunities for PWDs. Through this collaboration, both entities aim to break barriers and create a more inclusive work environment.

Pakistan U19 dominated New Zealand U19, securing a convincing 10-wicket victory in the ICC U19 Cricket World Cup 2024. The bowlers, led by Ubaid Shah and Arfat Minhas, restricted New Zealand to 140 runs, while openers Shahzaib Khan and Shamyl Hussain's unbeaten partnership of 144 runs ensured a swift chase, placing Pakistan at the top of the table.

The 4th edition of Adam’s Islamabad Marathon, organized by Islamabad Run With Us (IRU), saw over 1500 participants from various Pakistani cities and the diplomatic community. With the support of authorities, including Capital Development Authority and Capital Traffic Police, the event aimed to promote a healthy lifestyle and showcase a positive image of Pakistan globally. The marathon featured different categories, attracting people of all ages, and received praise from diplomats, including the Ambassador of Denmark and the High Commissioner of Australia.

Foreign companies saw a substantial increase in repatriation of profits and dividends in the first half of FY 2023-24, reaching $750 million, a 245% YoY surge. Various sectors, notably Petroleum Refining and Food, contributed to this rise, reflecting improved earnings and resolving the longstanding backlog.

Anita Karim, Pakistan's first international female MMA fighter, achieved a remarkable victory over Italy’s Adriana Fusini in Bangkok. Hailing from the Hunza Valley, Anita, with 5 international wins, secured the triumph in the 'Women’s Atomweight' category, showcasing her resilience and making history in the MMA arena.

The Election Commission of Pakistan (ECP) announced that starting next Monday, the SMS service 8300 will be free of charge, allowing voters to check constituency and polling station details. ECP officials emphasized the importance of bringing CNICs to the polling station, clarified that individuals with expired CNICs and those with new CNIC tokens can vote, and outlined the time limits for election result submission under the Election Act.

Atlas Honda Limited (ATLH) has reported a substantial year-on-year increase in profit after tax, reaching Rs6.08 billion for the nine months ending December 31, 2023. This growth is attributed to a strong 12.63% increase in the company's top line, amounting to Rs115.42 billion, showcasing robust performance despite rising costs and expenses.

The Pakistan Engineering Council (PEC) Excellence Awards honored 29 outstanding engineers in various fields at a ceremony attended by President Dr. Arif Alvi. Recognizing achievements in categories like Lifetime Achievement, Academia, Innovation, and more, the awards highlighted the significant contributions of engineers to Pakistan's development. President Alvi praised engineers for their role in Gulf countries' past development and emphasized the need for more engineers across sectors for sustainable progress.

Pakistan's telecom sector showed resilience, generating a 17% growth with revenues of Rs. 850 billion in FY23, despite economic challenges, according to the Pakistan Telecommunication Authority (PTA). PTA Chairman Hafeez-ur-Rehman highlighted the sector's success, including achieving 90% mobile service accessibility nationwide and significant increases in mobile and broadband users. The report reflects the positive impact on the country's economic landscape, with future initiatives aiming to expand digital connectivity for broader socio-economic development.

Applications are open for fully funded scholarships in Kuwait for the 2024-25 academic year, covering Undergraduate, Masters, and PhD programs at Kuwaiti Universities. The scholarships, sponsored by Kuwait's Ministry of Foreign Affairs and Ministry of Education, include tuition, books, monthly stipends, airfare, and related costs. Eligible for all nationalities, the deadline for application is March 1, 2024, with an English language proficiency certificate accepted in lieu of IELTS. Multiple programs, such as Kuwait Government Scholarships, Wells Mountain Initiative (WMI) Scholarships, and Berrows International Scholarship Program (BISPT), offer diverse opportunities for international students.

Easypaisa is addressing a critical issue for Pakistani women by introducing an "Audio Nikahnama" feature, aiming to empower them with essential knowledge about their marriage documents. This innovative initiative, accessible through a missed call or the easypaisa app, provides audio explanations in seven languages and includes sign language options for those with hearing disabilities. The campaign also extends to street graffiti in major cities, emphasizing the importance of understanding Nikahnama clauses.

The Pakistani rupee marked its eighth consecutive gain against the US Dollar, closing at 279 after briefly touching 278 during intraday trade. Despite recent positive trends and a rise in foreign exchange reserves, concerns linger about potential political developments impacting the currency's trajectory before the February election.

Pakistani table tennis player Hoor Fawad made history by winning a bronze medal, the first for a Pakistani woman in a global event. Despite a loss in the semifinals against an Indian player, her achievement highlights Pakistan's positive presence in international table tennis.

Ministry of Energy announces 'Fuelling Futures' Career Expo, connecting students with leading energy and mining companies. Explore opportunities, network with industry experts.

Register at www.careerexpo2024.com

The e-Khidmat Markaz at Arfa Software Technology Park (ASTP) has launched the Driving Test Service as part of the Online Driving License initiative in collaboration with Punjab Traffic Police and PITB. This pilot project aims to streamline the driving license issuance process in Punjab, starting at ASTP and eventually expanding to all e-Khidmat Marakiz. The introduction of online facilities, including learner's permit renewal and increased license fees, contributes to the government's efforts to digitize and improve efficiency in the licensing process.

Fauji Fertilizer Company Limited (FFC) reported a 48% YoY increase in its unconsolidated profit after tax (PAT), reaching Rs. 29.67 billion for the year ending December 31, 2023. The company's contributions to the national exchequer through taxes and levies rose to Rs. 36 billion, with a final cash dividend of Rs. 4.1 per share declared for the year.

Pakistani cricketer Babar Azam has climbed to the fourth position in the latest ICC T20I batting rankings, surpassing South African Aiden Markram with 763 points. Azam's stellar performance in the recent series against New Zealand, where he was the second-highest run-scorer with 213 runs, contributed to his impressive rating.

Lucky Cement Limited reports a substantial 92% YoY increase in unconsolidated net profit at Rs. 13.7 billion for 1HFY24, with a 107% surge in quarterly profits. The boost is attributed to higher earnings from cement operations, LEPCL, and LCI. The company also notes a positive outlook for its cement operations, expecting increased demand in the medium term, and is set to enhance operational efficiencies with a new clinker line in Iraq. Meanwhile, the automobile sector faces challenges with a more than 50% decline in volumes during 1H FY24, while the mobile phone market shows improvement due to eased import restrictions on mobile phone SKD kits.

Lucky Cement Limited

The Ministry of Federal Education celebrated World Education Day, focusing on the theme "learning for lasting peace" at the National Library. President Dr. Arif Alvi urged measures to enroll 26 million out-of-school children, suggesting an education emergency and involving graduates to teach, while commending initiatives like BECS for enrolling over 12,000 children in Islamabad. Various organizations and dignitaries, including representatives from USAID, UNICEF, and JAICA, participated in the event.

Pakistani cricketer Fakhar Zaman has launched a cricket academy in Melbourne, Australia, following Pakistan's tour of New Zealand. The academy, with an inclusive approach and no age limit, aims to impart fundamental cricket skills, collaborate with international academies, and initiate a global exchange of cricketing experiences, demonstrating Fakhar's commitment to nurturing talent despite recent cricketing challenges.

Lucky Core Industries Limited (LCI) reported a significant YoY increase in profit after tax (PAT) at Rs. 2.5 billion in Q2 and Rs. 5 billion in 1HFY24, attributing the rise to higher gross margins and a substantial increase in other income. The company also declared a cash dividend of Rs. 27 per share. Despite facing challenges such as inflationary pressures and high tax incidence, LCI's net sales surged 21% YoY to Rs. 60.1 billion in 1HFY24, with a boost in gross margins due to lower coal prices.

Fly Jinnah, a notable player in Pakistan's aviation, is now the country's only domestic airline approved for CAT III approaches, improving its ability to operate in low visibility. The airline, praised for its on-time departures, has also received government approval for international flights to destinations including Afghanistan, Bangladesh, and the UAE.

The Punjab Safe City Authority has introduced AI software to track motorcyclists without helmets, aiming to enhance road safety. Following a significant increase in fines from Rs. 200 to Rs. 2,000 for helmet violations last year, the Chief Traffic Officer has directed intensified crackdowns on traffic violations in the provincial capital, resulting in fines for over 16,000 motorcyclists and penalties for underage driving.