News Buzz

December 2024

President NBP Highlights Path Forward for Pakistan’s Financial Sector

In his recent session at The Future Summit, Rehmat Ali Hasnie, President of NBP, emphasized the crucial role of the financial sector in driving Pakistan’s economic growth. He highlighted that the financial sector must be viewed as more than just basic banking access, as it forms the foundation for economic resilience and empowerment. He mentioned that integrating everyone into the economic fabric can ensure equitable participation for prosperity.

Despite initiatives like branchless banking improving account ownership rates, nearly half of Pakistan’s population remains unbanked. Hasnie noted the need for targeted interventions and tailored financial solutions to address these challenges. Empowering citizens through financial inclusion or access to finance transforms them into active economic contributors, strengthening local economies and fueling sustainable growth. He also emphasized the importance of digital technology, such as mobile banking and e-wallets, in revolutionizing financial access. Furthermore, sharing his view on the subject, he stated that NBP is facilitating access to finance in the agriculture sector across Pakistan. He called for collaborative partnerships between banks, government agencies, and fintech startups to scale innovative solutions and ensure a long-term impact.

Seminar on “China at 75” Held at Chinese Consulate, Karachi


The Chinese Consulate in Karachi hosted a seminar titled “China at 75” on November 27, 2024, attended by dignitaries, professionals, and media representatives.
Key speakers included HE Mr. Yang Yundong, Chinese Consul General; Dr. Junaid Ahmad, author of China Leads; Dr. Zhang Jiegen from Fudan University; Dr. Guo Xuetang from Shanghai University of International Business and Economics (via video link); and Dr. Muhammad Ali Shaikh, former Vice Chancellor of SMIU.

The Consul General highlighted China’s remarkable progress, with an annual economic growth rate of 8.9% over 45 years, making it the world’s largest industrial manufacturer and second-largest economy. Despite these achievements, he acknowledged that China remains a developing country, with per capita income at 17% of the US. He emphasized China’s commitment to supporting developing nations.


Dr. Junaid Ahmad underscored China’s peaceful rise and unwavering support for Pakistan. He urged closer alignment with China, praising its superiority in infrastructure and social development.

Chinese professors detailed the strategies behind China’s progress and its future goals.

Dr. Muhammad Ali Shaikh called for enhanced China-Pakistan collaboration in education, highlighting lessons Pakistan could learn from China’s technical and vocational programs and its near 100% enrollment in compulsory education. He emphasized strengthening ties through educational exchanges and people-to-people contact.

The seminar concluded with an interactive Q&A session.

First Aramco-Branded Retail Station Launched in Pakistan

First Aramco-Branded Retail
Aramco recently unveiled its first fuel retail station in Pakistan. It follows Aramco’s acquisition of a 40% stake in Gas & Oil Pakistan (GO), a key player in Pakistan’s downstream sector with a nationwide network of over 1,200 fuel retail stations.

Aramco is one of the world’s leading integrated energy and chemicals companies, and its partnership with GO is expected to introduce high-quality fuels and an elevated consumer experience. Aramco-branded stations will offer the “ProForce” branded premium fuel, high-quality Valvoline lubricants, professional Express Care automotive services, and modern convenience stores designed to provide a seamless customer experience. Aramco plans to expand its retail network in Pakistan and establish a presence in this fast-growing economy.

Yasser M. Mufti, Executive Vice President of Products & Customers at Aramco, said: “This is another milestone in Aramco’s downstream growth story, as we launch the first Aramco station in Pakistan — a market with significant growth potential. Our values of excellence, innovation, and community partnerships sit at the heart of what we do and will act as our guide as we leverage our extensive global refinery systems to ensure reliable supplies to customers while introducing our complementary world-class retail offerings.”

Khalid Riaz, CEO GO echoed these sentiments, stating: “The first Aramco-branded station is a testament to our commitment to excellence and innovation. Together with Aramco we aim to elevate the retail fuel landscape in Pakistan, setting new benchmarks for quality, service, and customer satisfaction.”

Babar Azam becomes second highest run scorer in T20I

Babar Azam becomesPakistan’s star batsman, Babar Azam, has ascended to second place in the all-time leading run-scorer list for men’s T20 Internationals, surpassing India’s Virat Kohli.

Babar achieved the milestone during the third and final T20I against Australia at Bellerive Oval, scoring 41 runs. Despite his personal achievement, Australia secured a 3-0 series victory after defeating Pakistan in the final match.

With 4,192 T20I runs, Babar has surpassed Kohli, who has 4,188 runs. India’s Rohit Sharma remains at the top with 4,231 runs.

Toyota Corolla Cross Offers Exclusive Promotions

Toyota Corolla Cross OffersToyota Pakistan is ringing in the New Year with an exciting limited-time offer on its Corolla Cross Hybrid and Petrol variants. As the country’s first locally produced hybrid electric SUV, the Corolla Cross is now available at exclusive promotional prices, making it the perfect opportunity to upgrade your drive.

Promotional Prices for a Limited Time

The Corolla Cross, featuring a robust 1.8-liter engine, is available in Hybrid and Petrol options. Here are the revised prices for Karachi:
• Corolla Cross HV High: PKR 9,449,000 (was 9,849,000)
• Corolla Cross HV Mid: PKR 8,999,000 (was 9,399,000)
• Corolla Cross Gas High: PKR 8,499,000 (was 8,899,000)
• Corolla Cross Gas Low: PKR 7,849,000 (was 8,199,000)

This offer is valid for a limited time.

The Toyota Hybrid Synergy Drive ensures fuel efficiency, lower emissions, and a smooth driving experience with multiple driving modes—EV, ECO, and Power. Its 6-year/160,000 KM hybrid battery warranty adds peace of mind. Inside, the Corolla Cross offers premium comfort with Terra Rossa seats, dual-zone climate control, and a 9-inch floating display featuring Apple CarPlay and Android Auto. Families will love the spacious cabin and advanced safety features like 7 SRS airbags, VSC, and a Blind Spot Monitor. Backed by Toyota’s 57-dealership network, the Corolla Cross is built with the brand’s hallmark quality, durability, and reliability.

Direct Pak-Bangladesh shipping route marks ties revival

Direct Pak-Bangladesh shipping
The first cargo ship in decades to sail directly from Pakistan to Bangladesh successfully unloaded its containers, as both sides seek to rebuild ties after decades of frosty relations.

The 182-metre-long container ship—the Panama-flagged Yuan Xiang Fa Zhan—had sailed from Karachi to Chittagong. Top Chittagong port official Omar Faruq confirmed that the ship unloaded its cargo on November 11 before departing.

The relationships between the two countries were strained during the 15-year rule of former prime minister Sheikh Hasina, who brought her country closer to Pakistan’s arch-rival in the region, India. But Dhaka’s ties with New Delhi frayed after a student-led revolution toppled Sheikh Hasina in August.

Pakistan’s High Commissioner to Dhaka, Syed Ahmed Maroof, sparked widespread discussion on social media in Bangladesh when he said after the ship’s docking that the direct shipping route was “a major step” in boosting trade across the region.

Maroof wrote on Facebook that the route will “promote new opportunities for businesses on both sides.” Chittagong port authorities said the ship brought goods from Pakistan and the United Arab Emirates, including raw materials for Bangladesh’s key garment industry and basic foodstuffs.

In September, Dhaka eased import curbs on Pakistani goods, which previously required a mandatory physical inspection on arrival. Before traveling to Bangladesh, Pakistani goods had to be off-loaded onto feeder’s vessels – usually in Sri Lanka, Malaysia, or Singapore.

KMC to impose fines on individuals for littering on roads

KMC to impose fines on individuals
Karachi’s municipal authorities are preparing for a large-scale operation against littering. Fines will be imposed on those caught discarding waste on streets and highways.

Mayor Karachi, Murtaza Wahab, has taken serious notice of the worsening cleanliness situation in the city, responding to an increase in public complaints. He has tasked the Enforcement and Implementation Department with immediately addressing the issue.

Following the mayor’s orders, Additional Director of Enforcement and Implementation Khaleeq ur Rehman issued an official order instructing municipal inspectors to begin action against individuals contributing to the city’s litter problem. In the initial phase, a survey has been launched in Karachi’s commercial and industrial zones.

Sources have revealed that authorities will investigate areas with poor sanitation to identify the reasons behind the unsanitary conditions, focusing on those responsible for negligence or carelessness in maintaining cleanliness.

The Enforcement Department has already begun its work in the previously neglected South District, and surveys are being conducted in busy business areas, restaurants, and markets.

Moreover, authorities are inspecting the timely removal of waste from trash bins and garbage containers in these areas. Efforts are being made to encourage residents, shopkeepers, and market unions to dispose of their waste responsibly.

Nepal exports electricity to Bangladesh via the Indian power grid

Nepal exports electricity to
Nepal exported electricity to Bangladesh through the Indian power grid for the first time, marking the operationalisation of a tripartite arrangement that has been in the works for almost two years and is meant to forge energy connectivity.

The power from Nepal to Bangladesh was jointly inaugurated by Union power minister Manohar Lal, Bangladesh’s de facto power minister Muhammad Fouzul Kabir Khan, and Nepal’s energy minister Dipak Khadka during a virtual event hosted by Nepal’s Ministry of Energy, Water Resources, and Irrigation. The three countries initiated talks on the arrangement in 2022 following a long-standing request from Nepal to the Indian side about using India’s national power grid to export electricity to Bangladesh.

Nepal, which has a surplus of hydropower, found a buyer in energy-deficient Bangladesh. The tripartite power trade arrangement is the first in South Asia. The Indian government announced its decision to facilitate the trilateral power transaction from Nepal to Bangladesh through the Indian grid during the visit of former Nepalese premier Pushpa Kamal Dahal “Prachanda” to New Delhi in May-June 2023.

China’s foreign minister calls for resumption of direct flights from India

China’s foreign ministerChina’s Foreign Minister Wang Yi met his Indian counterpart Subrahmanyam Jaishankar in Rio de Janeiro, during which he called for the resumption of direct flights between the two countries.

Wang also talked of the need for “more mutual trust and less suspicion” between the regional rivals, the statement added.

Last month, the countries began implementing an agreement to end a military standoff on each side of the disputed Himalayan border.

Wang also urged the Indian side to step up cooperation in exchanging journalists and facilitating visas.

BOP Exchange inaugurates its branch in Lahore

BOP Exchange inaugurates
BOP Exchange proudly inaugurated its Tricon Center Branch in Lahore, marking a significant milestone in its mission to revolutionize the exchange industry in Pakistan.

The grand ceremony was graced by Mr. Zahid Akhtar Zaman, Chief Secretary Punjab, as the Chief Guest. The event drew an esteemed gathering of senior members of the BOP leadership, including President & CEO Mr. Zafar Masud and senior management from BOP and BOP Exchange.

Zafar Masud, President and CEO of The Bank of Punjab, highlighted BOP Exchange’s pivotal role in delivering cutting-edge financial solutions. He stated, “BOP Exchange is setting a new benchmark in the foreign exchange industry and helping bridge the gap between formal and informal financial sectors. This launch reinforces our commitment to supporting Pakistan’s economic stability and financial inclusion.”

Sanctions for Russian disinformation linked to Kate rumours

Sanctions for RussianSanctions for Russian disinformation linked to Kate rumours
Six Russian agencies and individuals accused of being part of a disinformation network face sanctions from the UK government.

The so-called Doppelganger group had been linked earlier this year to spreading false rumours about the Princess of Wales.

The Foreign Office warned of a “vast malign online network” intended to cause disruption and confusion, distributing fake news and undermining democracy.
The Doppelganger group is accused of trying to incite division within countries supporting Ukraine in the war against Russia.