August 2020 – PPI News Agency

August 31, 2020

FPCCI calls for immediate measures for rehabilitation of Karachi

Karachi, August 31, 2020 (PPI-OT): Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed serious concern, sorrow and grief over the loss of lives and damage to property caused by torrential rains in Karachi. In a statement on Monday, Mian Anjum Nisar, President, Sheikh Sultan Rehman and Khurram Ejaz, Vice Presidents of FPCCI regretted that heavy rains have inundated the entire city and severely damaged the roads and exposed the already-weak infrastructure. They said rain water has entered factories, warehouses, people’s homes and caused heavy losses to the business community at large and most parts of the city remain without electricity.

Generators are not working either as people have run out of petrol because of shortage of petrol due to which the drainage of water from factories, warehouse and other work places could not be made possible. Life has come to a standstill and severely disrupted. The FPCCI office bearers said the city which contributes more than 60% of the revenues and is the hub of Pakistan’s economy is left at the mercy of nature and relief measures are highly inadequate.

They reminded the government that due to lockdown resulting from COVID-19, the economy of the metropolis had already suffered extensively and still not able to recover completely while the torrential rain further aggravated the situation. They further said no precautionary measures were taken before the rain which was forecasted, well in advance. They said it is an extra ordinary situation and requires extra ordinary relief measures.

They termed this situation very alarming and asked the Federal and Sindh governments to immediately and urgently take rehabilitation measures to restore normalcy in Karachi. The FPCCI office bearers also appealed for developing comprehensive plans to resolve the long-standing issues of Karachi like waste management, water and sewerage, mass transit system, infrastructure and master plan.

For more information, contact:
Head Office,
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan
Tel: +92-21-35873691-94
Fax: +92-21-35874332
Email: info@fpcci.org.pk
Website: http://fpcci.org.pk/

August 31, 2020

SOSV backs e-Commerce platform PriceOye.pk

Lahore, August 31, 2020 (PPI-OT): PriceOye.pk, Pakistan’s leading e-commerce platform, announced that it has raised an undisclosed amount of funding in its ongoing Pre Series A round led by the US-based venture capital fund SOSV. Last year, the company announced its seed funding round led by Fatima Ventures.

“Pakistani consumers are ready for world-class online shopping experience, and PriceOye.pk has proven itself to be the market leader thanks to the platform’s unbeatable prices and seamless experience. We’re grateful to back Adnan and Adeel as they go on to shape the future of the Pakistani economy,” said William Bao Bean, General Partner at SOSV and Managing Director of MOX, the Mobile Only Accelerator.

With a business model similar to China’s JD.com, PriceOye.pk is catering to Pakistan’s 210 million consumers by providing authentic, high-end products at low prices. The company reports over 2 million monthly active users and 38% month-on-month growth as of August 2020. PriceOye.pk was co-founded by serial entrepreneurs Adnan Shaffi and Adeel Shaffi, who have previously launched and exited two tech startups.

“One of the biggest problems with online shopping in Pakistan is counterfeit products. PriceOye.pk is bringing transparency and trust to the online shopping experience, helping the 210 million Pakistani consumers seamlessly buy certified products at low prices. Our focus on customer happiness has made PriceOye.pk a leading e-Commerce platform in Pakistan, and we look forward to going further with the support from SOSV,” said Adnan Shaffi, Co-founder and CEO of PriceOye.pk

The company said it will use the funds to expand its market share, continuing to serve the growing needs of Pakistani consumers in these challenging times. Pakistan has witnessed massive growth during COVID. The country now has 170 million mobile users, of which 81 million are connected to the internet, making it the 9th country with most number of mobile users in the world. Recognized as the world’s most active investor in Q2’2020 by PitchBook and PwC, SOSV is among the few investors with increased investment activities despite the economic downturn.

For more information, contact:
PriceOye.pk
Plot # 95, Street 7, Sector I-10/3,
Islamabad, Pakistan
Tel: +92-51-884-7777
Email: hello@priceoye.pk
Website: https://priceoye.pk/

August 31, 2020

Standard Chartered Pakistan announces H1 2020 results

Karachi, August 31, 2020 (PPI-OT): Standard Chartered Bank (Pakistan) Limited today announced its H1 Results for 2020. The Bank performed exceptionally well in H1 2020 and delivered Profit before tax of PKR 16.2billion, which is 26per cent higher than corresponding period last year. With Revenue of PKR 23.5billion, the overall revenue growth was 26per cent, whereas client revenue increased by 27per cent year on year with positive contribution from Financial Markets, Retail Products and Transaction banking. Cost discipline continues with only 4per cent year on year increase in operating expenses.

The current slowdown in the economic activity due to COVID 19 impacted the advances momentum. The Bank is closely monitoring the portfolio in the backdrop of the changing economic environment and is maintaining adequate provisions, where required. The Bank achieved another milestone as total deposits crossed PKR 500billion. With a growth of 17per cent in H1, total deposits closed at PKR 547billion, with current and saving accounts constituting 93per cent of the deposits base.

The robust performance resulted in an increase of 14% in total assets to achieve the PKR 700billion milestone. The optimal funding structure of the balance sheet continues to support the Bank’s performance. Commenting on the results, Mr. Rehan Shaikh, Chief Executive Officer, Standard Chartered Bank (Pakistan) Limited said, “I am delighted to announce our First Half 2020 results. The Bank has performed exceptionally well and has continued to deliver on all key metrics on the back of a strong balance sheet.

While the external environment remains challenging, our results demonstrate our strong business fundamentals. We continue to invest in digital capabilities to enhance our clients’ banking experiences whilst continuing to focus on strengthened foundations of controls and conduct, equipping us to effectively manage our risks, capital and liquidity. The prudent and proactive measures that we are taking now will make us leaner and fitter to take advantage of the opportunities that will help the franchise grow in the future.”

For more information, contact:
Head of Corporate Communications
Standard Chartered Bank (Pakistan) Limited
1st Floor, New Jubilee Insurance Building,
I.I. Chundirgar Road, Karachi
Tel: +92-21-32450239
Cell: +92-334-3239399
Email: Farhan.ahmed@sc.com
Website: www.sc.com

August 31, 2020

Meezan Bank to Provide Financing to Small Karyana Stores

Karachi, August 31, 2020 (PPI-OT): Meezan Bank has announced a ground-breaking partnership with Finja, the country’s first dual-regulated fintech (regulated by SBP and SECP), to support MSMEs (Micro, Small and Medium Enterprises) through Shariah-compliant digital financing.

Local small businesses play a major role in the country’s economy but unfortunately, this sector has had limited access to the formal financial sector. With the outbreak of the Coronavirus pandemic, consumer preferences have moved swiftly from large grocery outlets to their neighbourhood ‘Karyana’ stores from where they can safely purchase daily essentials.

Given their growing importance, Meezan Bank recognized that this segment is in dire need of financing to optimize their sales cycle and achieve business growth. The partnership between Meezan Bank and Finja will allow MSMEs in the country to avail unsecured Islamic financing. The financing transaction will be managed digitally and in real-time and once approved the financing amount will be credited to his Meezan Smart Wallet account.

Finja’s digital ecosystem will streamline and accelerate the credit evaluation and decision-making process. The system will assess risks using various eligibility checks and ensure compliance to the Bank’s risk acceptance criteria and will therefore ensure that financing decisions are taken very swiftly and Islamic financing is provided to the customer without any delay. This collaboration will benefit the entire supply chain eco-system, focusing on facilitating the retailers and consequently, the distributors.

Qasif Shahid – CEO and Co-founder, Finja remarked,

In a short span, we have crafted relationships with over 5,000 merchants in multiple cities and have extended short term digital loans of over Rs. 500 Million to this segment at the back of our NBFC (Non-Banking-Financial Corporation) status.

Ariful Islam – Deputy CEO, Meezan Bank, said,

Meezan Bank realizes how important it is for small businesses to receive timely financing during these challenging times. Our partnership with Finja will allow us the right digital platform to provide quick and convenient Shariah-compliant financing to our customers.

For more information, contact:
Meezan Bank Limited
Meezan House, C-25 Estate Avenue,
SITE, Karachi, Pakistan
Tel: +92-21-38103500
Fax: +92-21-36406049
Website: www.meezanbank.com

August 31, 2020

OPPO to Unveil Its Reno4 Series On 10th September

Lahore, August 31, 2020 (PPI-OT): OPPO, the leading global smart device brand, announced that the all-new Reno4 Series will be launched in Pakistan on 10th September 2020.

Following the successful launch of Reno4 Series in China last month, OPPO will deliver Reno4 Series to other markets, with some adjustments tailored to local consumer needs and new features to deliver a trendsetting experience to global users. The new international Reno4 Series will support 4G to fit the local market context and will come with innovative technology as the result of OPPO’s consistent investment in a user-centric experience.

The Reno Series continues OPPO’s mission of delivering innovation by listening to and walking a mile in the customer’s shoes. With Reno4 Series, OPPO is pushing the envelope and the legacy of the Reno Series by combining the best of both worlds: The excitement and utility offered by OPPO’s innovative technology, together with the personality and style reflected by the trend-setting design.

For users who have grown up on their mobile devices and rely on it to keep them in-the-know with all the latest trends, Reno4 Series is the quintessential choice. Catering to the diverse taste of the young generation, Reno4 Series, which includes Reno4 Pro and Reno4, stands on its own, each with its own merits.

If you are seeking a mobile phone that offers a premium texture and a smooth user experience, the 90Hz Borderless Sense screen of Reno4 Pro will excite your visual senses and haptic perception. Together with the world’s fastest 65W SuperVOOC 2.0 Flash Charging technology that is currently commercially available, you will be amazed by how fast it is and your charging anxieties disappear in a flash.

However, if you are looking to shine on social media, you can express your creative side with Reno4 Series’ innovative imaging technology. Both Reno4 Pro and Reno4 make it easy to capture creative portraits or film at any moment that will show off “Clearly the Best You” in front of the camera. And you will be able to level up your video-capturing skills to participate in the latest short video trends.

In addition, a whole new suite of facial recognition and touch-free interactions will be available on Reno4 that will give you the sense that you are holding the future in your hands.

Trendy Design with Comfortably Thin Body and Unique Colours

Pushing the boundaries of industrial design, Reno4 Series strikes a delicate balance between functionality with a slim and light body that comes together.

Reno4 Pro’s beautiful 3D curved screen instantly feels and looks smooth, giving off a premium vibe that is the result of a well thought out ergonomic design and textured matte back case, which is sure to satiate the appetites of those of us that revel in trendsetting smartphones.

All the while the 3D curved screen fits comfortably in your hand without resulting in accidental touches around the edges. Accentuating the beauty of the 3D curved screen, Reno4 Pro comes in both Starry Night and Silky White colours that exhibit the beauty of its delicate matte texture and premium colour.

Reno4 comes in a Galactic Blue colour, which introduces “Reno Glow” a design new technique that is only found on the OPPO Reno Series that adds a perfect combination of a unique matte and glittery colour that shimmers like a diamond under light. With “Reno Glow” set against the silver and blue gradient of the Galactic Blue colour, Reno4 looks delicate and vivid and is sure to make this phone an eye-catcher this summer

Immersive and Fluid Display Made Possible by a 90Hz Borderless Sensem Screen

Reno4 Pro features a 90Hz display refresh rate, up to 180Hz touch sample rate, and a bezel-less 3D curved screen for a smooth experience. This enables you to truly sense smoother movements and animations while you scroll through your social networks like Facebook and Instagram. The 3D curved screen, which extends the touchable screen to the edge, enables you to feel the smoothness and truly comfortable fit of the phone’s curvature in your hand.

In addition, Reno4 Pro sports a 6.5-inch display with a screen-to-body ratio of up to 92.01%, which aims to offer an immersive viewing experience that you can see from edge-to-edge.

Feel the Speed and Ease your Mind with 65W SuperVOOC 2.0 Flash Charging

With Reno4 Pro, we are bringing our best-in-class fast charging technology to global users through the Reno series for the first time and offering the technology to more consumers. It fully charges Reno4 Pro in 36 minutes. With just a 5-minute charge you can watch YouTube for 4 hours.

With SuperVOOC 2.0, you would not have to worry if you have forgotten to charge your phone at night, or have left home without a full charge. As the fastest charging solution in its class, Reno4 Pro’s charging safety is also guaranteed by TÜV Rheinland Safe Fast-Charge System Certification.

Trendsetting Camera Features That Will Clearly Unlock the Best You

Reno4 Series comes with a suite of creative camera features that will take your portrait photography and filming to the next level. Reno4 Series gives you the tool to empower anyone to effortlessly express your unique style, show off “Clearly the Best You” and make your portrait shine clearly in every shot.

Even if it is to film your travel vlog for YouTube, a short video for TikTok, or simply capture exclusive memories with friends and family, Reno4 Series raises the bar with imaging features that makes it fun to spice up your footage or photos.

This includes the all-new AI Colour Portrait Mode, both support on the photo and video function, which mutes the background into black and white while keeping the person in real colour. Or you will be able to master night-time portrait shots with Night Flare Mode, which applies artistic neon effects against the backdrop of street lights and makes the person brighter at the same time.

But a single photo can’t tell a whole story. With video platforms all the rage, Reno4 Series offers innovative videography features to push the boundaries of your creativity. With 960fps Smart Slow Motion, you will be able to capture 960 frames within one second and capture epic slow-motion shots in the thick of the action, whether you are capturing split-second micro-expression, or the moment you sprinkle water or coloured powder.

Together with Ultra Steady Video 3.0, Ultra Steady Mode will debut on the front camera for the first time, which uses enhanced image stabilization to make it effortless to capture steady videos of high-intensity activities. Together with Ultra Steady Video and Ultra Steady Video Pro on the Rear Camera, you are well equipped to film quality videos of yourself whether you are walking, running or cycling.

Touch-free Functions Made Possible by Reno4

Reno4 is equipped with Dual Punch-hole Deign. However, this design does not work the common way that you would expect. By leveraging the additional front “camera” to its fullest, Reno4 unlocks an array of futuristic facial recognition and gesture control interactions that make it even easier and more secure to use the device. With Reno4, you do not need to touch the phone to use it in different scenarios. Isn’t it incredibly cool to be able to control your phone through the air, from afar?

While we are setting the stage for what is to come, stay tuned for more amazing Reno4 Series features that will be revealed at OPPO’s official launch virtually in Pakistan on 10th September 2020.

For more information, contact:
OPPO Mobile Pakistan
Tel: +92-0800-06776
Media Queries: media@oppo.pk
Service: service@oppo.pk
Website: www.oppo.pk

August 31, 2020

Six more coronavirus patients died in country –

Islamabad, August 31, 2020 (PPI-OT): As many as 213 new coronavirus cases were reported in Pakistan on Monday while six more patients died of the virus disease. The country-wide death toll from the virus has surged to 6,294 so far since the outbreak of the disease in February.

According to the Ministry of National Health Services, Regulation, and Coordination data, a total of 295,849 people have been tested positive for the coronavirus disease in the country since its outbreak in February 2020, out of which 129,348 cases were in Sindh, 96,769 in Punjab, 15,625 in Islamabad, 12,869 in Balochistan, 36,044 in Khyber Pakhtunkhwa, 2,896 in Gilgit-Baltistan, and 2,298 in Azad Kashmir. However, 280,682 patients have recovered from the disease so far. There is continuous decline in the coronavirus cases and deaths across the country.

For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk

August 31, 2020

All resources being utilized to deal with Karachi emergency situation: Shibli Faraz

Islamabad, August 31, 2020 (PPI-OT): Minister for Information and Broadcasting Shibli Faraz has said that all resources are being utilized to deal with the emergency situation in Karachi without any political discrimination. In a tweet on Monday, he said the federal government and its affiliated agencies are providing all possible assistance to the provincial government of Sindh. He said due to the rains, the people of Karachi were going through testing times. He said the sympathies of the whole nation are with them in this testing time.