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Category: IT & Telecom

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  • Supernet scrip receives overwhelming response

    Supernet scrip receives overwhelming response

    KARACHI: Supernet Limited, the first IT company to be listed at GEM Board of PSX, has received overwhelming response by investors on first day of its book building on April 12, 2022. The book buying is continued on April 13, 2022 (today) too.

    With an oversubscription of 1.99% on first day of its book building, Supernet received total bids of 21,530,720 shares against an offer of 21,111,121 shares, over subscription by 1.99% or 419,599 shares on Day 1.

    READ MORE: Supernet awarded Shariah screening certificate

    The first ever GEM Board listing of an IT company received an overwhelming response from institutional investors and high-net worth individuals.

    Supernet has a target to raise betwen 475 million to 666 million through listing at GEM Board of PSX.

    READ MORE: Supernet set to raise Rs475 million through initial offering

    Apart from local investors, foreign financial institutions also took keen interest in the initial offering of first IT company on GEM Board of PSX.

    The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

    The entire issue was offered through Book Building on April 12-13 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share.

    READ MORE: Supernet wins ZTBL projects worth Rs450 million

    Recently, Supernet Group is aggressively expanding into Cyber Security, Power Solution and IT & Infrastructure Solutions business. The proceeds from listing will be utilized to finance the expansion plan.

    For expansion into new business segments, SNL has set up two new subsidiaries: Supernet Secure Solutions Private Limited and Supernet Infrastructure Solutions Private Limited . Another subsidiary, Phoenix Global (Supernet Global Solutions), is a UAE based company that offers a wide range of IT & Communication solutions to its international clients. Supernet’s clientele include major banks, mobile operators, leading MNCs, government and defence institutions, etc.

    READ MORE: Supernet, Avara awarded project for supply, maintenance

  • Supernet awarded Shariah screening certificate

    Supernet awarded Shariah screening certificate

    KARACHI: Supernet Limited, a subsidiary of Telecard Limited has been awarded Shariah Screening Certificate by Meezan Bank Limited, based on the review of consolidated financial statements of SNL, certifying its compliance with KSE Meezan Islamic Index Criteria set out by Pakistan Stock Exchange.

    READ MORE: Supernet set to raise Rs475 million through initial offering

    This was announced in a notice by Telecard sent to Pakistan Stock Exchange on Monday.

    According to Meezan Bank letter, Meezan Bank Limited, in the capacity of Banker to the book building, reviewed the Consolidated Audited Financial Statements of Supernet Limited based on June 30, 2021 which are in compliance with KSE Meezan Islamic Index Criteria set out by Pakistan Stock Exchange.

    READ MORE: Supernet wins ZTBL projects worth Rs450 million

    On the basis of reviewed financial statements, it is allowed to participate in initial offering of Supernet Limited with the provision that the investee will be required to purify is dividend income as per company’s annual dividend purification rate determined on semi-annual basis in KMI- All Share Islamic Index.

    This is pertinent to highlight that the Shariah compliance status of the company’s financial statements may vary from one financial period to the other. So, this certificate shall remain valid as long as company’s latest available financial statements are for the period ended June 30.

    READ MORE: Supernet, Avara awarded project for supply, maintenance

  • Supernet set to raise Rs475 million through initial offering

    Supernet set to raise Rs475 million through initial offering

    KARACHI: Supernet Limited has planned to raise Rs475 million through Initial Offering of its 18.81 per cent of post-offering share capital.

    The capital being raised by listing the firm on the GEM Board of the Pakistan Stock Exchange (PSX) will consist of fresh equity of Rs275 million in Supernet and ‘Offer for Sale’ by Telecard Limited of Rs200 million.

    Supernet is the first technology company to be listed on GEM Board of PSX.

    READ MORE: Supernet wins ZTBL projects worth Rs450 million

    The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

    The entire issue will be offered through Book Building on April 12-13 for which registration will Start from April 7 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share. The upper limit of the price band will not be more than 40 per cent of the Floor Price.

    READ MORE: Supernet, Avara awarded project for supply, maintenance

    Super Net is being offered at FY22 PE of 6.7 vs Avg. IT sector PE of 22X, offering significant value to the investors.  Out of the total issue, 8,888,889 shares are being offered as Offer for Sale by Telecard and 12,222,232 shares are being offered as fresh equity.

    Founded in 1995, it is one of the country’s leading telecommunications service provider and systems integrator. The company offers a full portfolio of local-to-global integrated communications infrastructure solutions to telecoms, defense, private firms and government sectors/customers and has a pool of highly trained and experienced human resource in wide range of communication and IT technologies spread across Pakistan in more than 200 cities and towns.

    READ MORE: Supernet awarded telecom projects worth Rs100 million

    Recently, Supernet Group is aggressively expanding into Cyber Security, Power Solution and IT & Infrastructure Solutions business. The proceeds from listing will be utilized to finance the expansion plan.

    For expansion into new business segments, SNL has set up two new subsidiaries: Supernet Secure Solutions Private Limited and Supernet Infrastructure Solutions Private Limited . Another subsidiary, Phoenix Global (Supernet Global Solutions), is a UAE based company that offers a wide range of IT & Communication solutions to its international clients. Supernet’s clientele include major banks, mobile operators, leading MNCs, government and defence institutions, etc.

    READ MORE: Suprenet gets project for optic fiber supply

  • Meezan Bank provides bill discounting facility for Huawei

    Meezan Bank provides bill discounting facility for Huawei

    KARACHI: Meezan Bank has successfully instituted an Islamic alternate to Inland Bill Discounting Facility for Huawei Technologies Pakistan (Pvt.) Limited – a first-of-its-kind transaction in Islamic banking industry, developed as a Shariah-compliant alternate to local bill discounting facility.

    READ MORE: Meezan Bank lends Rs1 billion under youth scheme

    The first drawdown under the facility was made against a deferred payment inland Letter of Credit (LC) opened by Pak Telecom Mobile Limited (Ufone) in favour of Huawei. The transaction has been developed by the Bank under the supervision and guidance of Dr. Muhammad Imran Ashraf Usmani – Vice Chairman Shariah Board, Meezan Bank, after a series of deliberations and persistent efforts.

    READ MORE: Meezan Bank announces 26% growth in annual profit

    On this occasion, Abdullah Ahmed – Group Head, Corporate & Institutional Banking, Meezan Bank stated: “Meezan Bank is pleased to offer yet another milestone solution for the Islamic banking industry i.e., a Shariah-compliant alternative to discounting of long tenor inland bills with provision of variable profit rates. We are hopeful that this solution will serve as a precedent for unique transactions pertaining to trade within telecom industry.”

    READ MORE: Meezan Bank, Suzuki Motors sign MoU for car financing

    Ahmed Ali Siddiqui – Group Head, Shariah Compliance, Meezan Bank, stated, “This endeavour of Meezan Bank displays its capability to develop out-of-the-box, innovative and Shariah-compliant solutions and reinforces its position as the leading Islamic bank of the country. We hope this solution will open a new chapter in facilitating trade among businesses and industries in a Shariah-compliant way and bring more businesses and trade into fold of Islamic banking.”

    READ MORE: Meezan Bank starts Islamic financing scheme for SMEs

  • Realme gives up to 10% discount on Pakistan Day sale

    Realme gives up to 10% discount on Pakistan Day sale

    In the spirit of Pakistan Day, realme has teamed up with Daraz to deliver the ultimate value to its fans with incredible discounts of up to 10 per cent on a diverse range of realme products.

    The reduced rates on realme products are available from Wednesday, March 16 – Wednesday, March 23, 2022.

    READ MORE: Sajal Aly announced as brand ambassador for realme 9

    Realme is known to be a brand that delivers superior value for money, packing its smartphones with the latest features and making them available to a lower price segment.

    The smartphone brand always prioritizes being first in their price segment to introduce new technology. So, let’s take a sneak peek at what products will be making the rounds during the Pakistan Day Sale.

    READ MORE: Realme appoints Harvey as Pakistan country manager

    Realme’s full arsenal of smartphone series will be represented by at least one model each during the sale. This includes the realme Number series, the realme GT series, the realme C series and the realme Narzo series – all of which will have their prices slashed.

    But the most exciting of all is the realme 9i (128GB), the latest release which will also be a part of the sale. With its Qualcomm Snapdragon 680 6nm chipset, Stereo Prism Design, 50MP AI Triple Camera, and 33W Dart Charge, the realme 9i has something for everyone.

    READ MORE: Air Link signs deal for distribution of realme smartphones

    The realme GT Master Edition (128GB), which was named Smartphone of the Year in 2021 will be representing the realme GT series during the Pakistan Day Sale at Daraz.

    This smartphone is manufactured with a very unique design concept based around a suitcase and travelling. From the realme Narzo series, the realme Narzo 50i (64GB) will be joining the sale, which is a powerhouse gaming device that delivers great performance at a lower price point.

    Realme’s C series of phones has the highest amount of representation during the Pakistan Day Sale with the realme C11 (32GB), realme C11 (64GB), realme C21 (32GB), realme C21Y (64GB), realme C25s (128GB), and the realme C25Y (64GB) all going on sale during the event. The realme C series represents the brand’s most budget-friendly line of smartphones and with the Pakistan Day discounts it becomes even more so.

    READ MORE: Amazon Software Technology Park inaugurated

    Realme will also host two Daraz Live sessions during the event which will take place on Monday, March 21, 2022 at 08:00 pm with Warisha Khan and Wednesday, March 23, 2022 at 01:00 pm. Both the sessions will feature exciting giveaways of realme products. You can expect a mix of realme’s AIoT products such as the realme Buds Air 2, realme Buds Q2, realme Smart Band, and the realme Power Bank that has a capacity of 10,000mAh and 30W Dart Charge.

    The realme Motion Activated Night Light as well as realme smartphones such as the realme C11 and realme C21Y will also be given away.

  • Projects worth Rs8 bn launched for broadband services

    Projects worth Rs8 bn launched for broadband services

    ISLAMABAD: The Ministry of Information Technology and Telecommunication (MOITT) has launched seven more projects worth over Rs8 billion to provide broadband services to over 2.5 million people in the un-served and under-served areas of the four provinces.

    Out of total amount for the projects around Rs 3.5 billion projects allocated for Balochistan, according to a statement issued on Monday.

    The projects were approved here on Monday at the 81st meeting of the Board of Directors of the Universal Service Fund (USF), since then, the number of projects for providing optical fiber cable and broadband services from 2018 to date has reached a record 56 and the total cost (subsidy) has exceeded Rs 52 billion.

    READ MORE: Telenor gets Rs1.36bn contract for broadband services

    The meeting was chaired by Secretary IT & Telecom and Chairman USF Board Dr. Muhammad Sohail Rajput while Chairman PTA Major General (Retd) Amir Azeem Bajwa, Member Telecom Muhammad Umar Malik, CEO Telenor Irfan Wahab Khan, Imran Akhtar Shah, Kokab Iqbal, Sibte Hassan Gardezi and other officials were present.

    Chief Executive Officer USF Haaris Mahmood Chaudhry gave a detailed briefing to the Board about the projects.

    READ MORE: Jazz awarded project worth Rs344 million for providing broadband service

    Federal Minister for Information Technology and Telecommunication Syed Amin-Ul-Haque, while congratulating the USF Board on the launch of the projects, said that whatever the political situation, the MOITT and its subsidiaries, especially the Universal Service Fund, continue to perform.

    He said that Ministry of IT through USF is committed to connect the people in remote areas with digital world.

    The minister said projects started during the tenure of present government are being ensured to complete in stipulated time. While for all the projects under the rules only the lowest bidding telecom operators were selected, he said.

    Earlier addressing the meeting, Secretary IT and Chairman USF Board Dr. Muhammad Sohail Rajput said that the provision of broadband services to the residents of the un-served and under-served areas of the country is as much needed as for the big cities.

    READ MORE: Telenor gets contract for providing broadband services

    He said that while the implementation of projects for the four provinces has been ensured under the rules and regulations, the projects worth Rs 3.57 billion have been approved in principle, giving special importance to the deprived Balochistan.

    Dr. Sohail Rajput further said that although the wide area of Balochistan and the provision of broadband services to the spread population is costlier than any other area, but the Board under the direction of Federal Minister for IT Syed Amin-Ul-Haque always included Balochistan in its priorities.

    Meanwhile, according to the Projects approved at the USF Board of Directors meeting, the project to provide 4G services in Qila Saifullah and Zhob in Balochistan has been awarded to Pak Telecom Mobile Limited (Ufone) with total subsidy is Rs 3.57 billion while the completion period would be 18 months.

    The project would facilitate to more than one hundred thousand populations of 111 villages spread over an area of 8,408 sq. km.

    The plan to provide broadband services in Jhang, Bhakkar and Toba Tek Singh districts of Punjab has been given to Pakistan Mobile Company Limited (Jazz) on which the amount of subsidy given is Rs. 2.25 billion with one-year completion time.

    READ MORE: Contracts worth Rs5.11 billion awarded for next generation broadband

    In a short span of time, facilities will be provided to a population of over 1 million in 722 villages spread over an area of 8,925 sq. km. The meeting also approved the project of uninterrupted Voice and Broadband services on 95 km section of Hakla D.I Khan Motorway connecting Dera Ismail Khan, Lakki Marwat, Mianwali, Attock and Rawalpindi districts to Jazz at a subsidy of Rs 375.33 million.

    Similarly, a plan to provide broadband service in six Mauzas on the outskirts of Islamabad has been handed over to Jazz at a cost of Rs. 11 million.

    A project to provide mobile services in a Mauza of Mandi Bahauddin has also been handed over to Jazz at a cost of Rs. 22.6 million.

    Under optical fiber cable (OFC) program, 555 km long fiber optical cable laying project in Larkana and Qambar Shahdad Kot districts of Sindh has been given to PTCL with total subsidy of Rs. 1.61 billion and completion period is one year.

    By connecting the 62 union councils of these districts, it will be possible to provide high speed connectivity to the population of more than 1.2 million.

    Another project under Optical Fiber Cable Program, PTCL was also given a project to lay 106 km long cable for a population of more than 136,000 in 6 Union Councils of Haripur and Islamabad out of total cost Rs. 410 million, the subsidy approved of Rs 235 million.

    In addition, the USF Board of Directors has approved in principle the appointment of Ms. Alia Afridi from among the 3 shortlisted names after interviews of 37 candidates on the recommendations of the Human Resource Committee for the post of Company Secretary in the Universal Service Fund.

    Ms. Alia Afridi has high academic qualifications and significant experience in the related field.

  • Sajal Aly announced as brand ambassador for realme 9

    Sajal Aly announced as brand ambassador for realme 9

    Pulling out all stops, realme has just announced a collaboration with a heavy hitter of Pakistani film and television, Sajal Aly, as the brand ambassador for its new realme 9 Series. This is an exciting development as this marks the first time in Sajal’s illustrious career that she has ever partnered with a smartphone brand and realme is a brand that is passionate about collaborating with the movers and shakers of tomorrow much like Sajal herself.

    The revelation of realme’s association with Sajal came at the helm of realme Design Studio’s collaboration with HELIOT EMIL – a Danish fashion brand that has designed a trendy leather satchel for realme 9 Pro+ which debuted at the Paris Fashion Week. Sporting the bag, Sajal is captured in a never-before-seen avatar that has her fans and the social media at-large go gaga on her look.

    realme has become a force to be reckoned with since its entry into the market in 2018. The astounding line of products that the smartphone brand has in its arsenal has earned it the reputation of being a tech-trailblazer and tech-democratizer. With each successive iteration of the realme Number Series, consumers are given access to increasingly innovative technology but at an economical price. The commitment to performance that is so integral to realme is shared by Sajal as evidenced by her impressive body of work in the entertainment industry.

    Sajal Aly made her acting debut in the 2009 sit-com Nadaaniyan after which she has gone on to be a part of a plethora of  popular television projects such as Mere Qatil Mere Dildar and O Rangreza. In 2012, she expanded her repertoire to include telefilms when she appeared in O Meri Billi. Sajal is a perfectionist when it comes to acting as she fully immerses herself into each of her characters in order to give the best performance she can. She is also an incredibly versatile actress as her body of work consists of a variety of serious, thought-provoking roles mixed in with more conventionally entertaining or humorous roles.

    It was only a matter of time before she found her way onto the silver screen with 2016’s Zindagi Kitni Haseen Hai. Her talent started making waves overseas and in 2017 she made her Bollywood debut in the social drama Mom. She is now set to step into the glitzy Hollywood lights with her upcoming release titled What’s Love Got to Do With It? Sajal has received many accolades in her career for her captivating performances. She was even recognized on the international stage in 2020 with the International Icon Award at The Distinctive International Arab Festivals Awards (DIAFA) for her outstanding contribution to Pakistani film and television.

    Sajal Aly is a perfect fit as the brand ambassador for the realme 9 Series. Much like realme, Sajal is an unstoppable tour-de-force in her industry. She shares realme’s passion for activism and frequently calls out injustice and demands for the rights of women. Her perfectionism is mirrored by realme’s commitment to providing perfection to the consumer with every smartphone they release.

    Sajal embodies realme’s key philosophy of Dare to Leap as both realme and Sajal have made bold, substantial contributions to their industries. As a skilled actress, Sajal is not afraid to take on challenging or unconventional roles. She takes the necessary leap to inspire her contemporaries to step outside their comfort zone. Sajal is also considered a local fashion icon who can effortlessly turn looks in any category. A fashionable diva like her is a perfect reflection of the realme 9 Pro+’s signature trendy Light Shift Design, which changes color from Blue to Red when exposed to light.

    realme has been working long and hard since its entry into the Pakistani market to expand its footprint in the country. Having a huge, devoted fan base across the country, Sajal Aly can really help magnify realme’s voice in the Pakistani market. The smartphone brand wants to be an agent of change in terms of the technological landscape of Pakistan. realme aims to spread the gift of technology in order to empower the lives of the average consumer which is why it targets a more economical price segment without compromising on the quality of technology. So, keep your eyes open for more exciting reveals coming from realme regarding its ever popular 9 Series of smartphones and watch out for more collaborations between realme and Sajal Aly.

  • FBR, PTA introduce temporary registration of cell phones

    FBR, PTA introduce temporary registration of cell phones

    ISLAMABAD: Federal Board of Revenue (FBR) and Pakistan Telecommunication Authority (PTA) have jointly introduced a temporary registration of cell phones to facilitate overseas Pakistanis.

    To address the repeated concerns raised by Overseas Pakistanis (including those working abroad or Pakistani students studying overseas) and foreign nationals visiting Pakistan on short term visits regarding blocking of their mobile devices via DIRBS, FBR and PTA have jointly developed a new system for their temporary registration in collaboration with Federal Investigation Agency (FIA) and Mobile Phone Operators, a statement said on Tuesday.

    READ MORE: PM Imran directs implementing incentives for IT industry

    This module has been introduced for those overseas Pakistanis and foreign nationals who do not intend to keep their mobile device in Pakistan and will be applicable for only one (1) mobile handset device.

    To avail this facility, the applicant shall provide his/her credentials including passport No., date of arrival and intended date of departure, mobile SIM issued in his/her name, and IMEI(s) of the device.

    READ MORE: Ufone 4G ranked top voice and data network

    The new system shall carry out real time validation from FIA IBMS to verify the date of arrival of the applicant. On lapse of 120 days of the stay of the applicant, the IMEI(s) utilized under this facilitation shall be suspended and swill not be utilized on local network services. In case, same applicant visits Pakistan again, he/she will be required to re-apply for this temporary facilitation, by re-entering the credentials which were used for the 1st or previous registration under this scheme.

    This system will not only facilitate overseas Pakistanis and foreign nationals coming to Pakistan on short term basis but will also create a positive image of the country. Likewise, the checks introduced under this system will ensure that only the genuine overseas Pakistani/foreign national avails the said facility.

    READ MORE: Supernet wins ZTBL projects worth Rs450 million

    It is pertinent to mention that FBR has already introduced a number of innovative digital interventions to ensure taxpayers facilitation and ease of doing business through technology. In the recent past, the country’s premier revenue collection organisation has collaborated with FIA and NADRA in developing an automated facility for Currency Declaration at ports to fight the menace of money laundering and thereby rule out the possible flight of foreign currency from Pakistan.

    Therefore, the above initiative comes as yet another wonderful step taken by FBR to maximize taxpayers facilitation, in particular, the Overseas Pakistanis and Foreign Nationals visiting Pakistan for a short period of time.

    READ MORE: PM Imran announces setting up technology startup fund

  • PM Imran directs implementing incentives for IT industry

    PM Imran directs implementing incentives for IT industry

    ISLAMABAD: Prime Minister Imran Khan on Friday directed the authorities to timely implement incentives for freelancers and IT industry as announced by the government.

    The prime minister, chairing a meeting to review the incentives being provided to the IT sector, said the government was extending maximum facilitation to the sectors with immense potential to support the national economy.

    READ MORE: PM Imran reduces, freezes POL prices

    Mentioning the historic package announced by the government for promotion of the IT sector, he said the government had introduced massive reforms to facilitate the business sector.

    He viewed that the facilitation of the skilled freelancers would lead to increasing the remittances as promotion of the IT exports was among the government’s priorities.

    The participants of the meeting were apprised of the implementation status of the incentives for the startups, industrial sector and IT companies.

    READ MORE: PM Imran announces setting up technology startup fund

    It was told the implementation of the government’s recently announced industries and IT package was going on with fast pace and an increase in the number of freelancers had been witnessed consequent to the government’s measures.

    The meeting was told that the one-step registration of freelancers through the portal of Pakistan Software Export Board had been ensured which would automatically register them with the Federal Board of Revenue.

    READ MORE: Tax reduced on POL products to ease inflation: PM Imran

    Moreover, the State Bank of Pakistan was also taking steps to ensure the transfer of freelancing funds from abroad through the banking channels. Besides, a mechanism to take benefit from the tax exemptions for the IT companies would also be in place very soon.

    An awareness system to ensure the implementation of the announced facilities through commercial banks would also be initiated.

    READ MORE: PM Imran launches 2nd phase of Raast payment system

    Federal ministers Asad Umar, Hammad Azhar, Chairman of Special Technology Zones Authority Amer Hashmi, and senior officers attended the meeting. Governor of State Bank Raza Baqir joined via video link.

  • Ufone 4G ranked top voice and data network

    Ufone 4G ranked top voice and data network

    ISLAMABAD: Pakistan Telecommunication Authority (PTA) has declared Ufone 4G as No. 1 voice and data network in the country.

    The PTA declared ranked top Ufone 4G in its ‘Mobile Networks Benchmark Report for 2022’.

    PTA used Network Performance Score (NPS) methodology to ascertain service quality across the country. The integrated innovative methodology, standardized by European Telecommunications Standards Institute (ETSI) allows regulators to assess network performances through automated tests of simulated Voice, Data and SMS usage behaviors of end users.

    READ MORE: Ufone signs Rs21 billion agreement for 4G spectrum

    The report reaffirms the company’s strong focus on delivering the highest quality connectivity to its customers to enhance their user experience. Ufone 4G topped the nationwide benchmarking campaign, where the company’s Voice and Data services scored the highest aggregate total of 634 out of 800.

    The study was held across all federal and provincial capitals including four towns, along with four major motorways & highways to ascertain the quality of mobile networks. PTA survey teams made more than 15 thousand Voice calls and conducted 45 thousand Data tests across an area of approximately 4,522 kilometers in length at these locations.

    Ufone 4G achieved highest scores for its Voice and Data services, with a significantly higher margin against the industry benchmarks and other Cellular Mobile Operators (CMOs) in Pakistan. The Pakistani telecom company demonstrated the best call setup performance and the strongest data network across all cities and towns surveyed by the regulator.

    READ MORE: Ufone launches contact center for housing loans

    The steady improvement in the Ufone 4G’s network quality and coverage was witnessed following its acquisition of 4G spectrum and investment in enhancing and modernizing its network in line with its long-term commitment to improve the user experience of its customers.

    It is the second survey by PTA in a year. The regulator carries out telecom benchmarking campaigns from time to time to assess network quality and performance as well as to spur healthy competition in the industry, thereby encouraging delivery of quality service to telecom users.

    PTA’s latest ranking reaffirms Ufone 4G’s long term endeavor to transform the way customers experience telecom services. To that end, the company acquired 4G spectrum and continues to innovate and modernize its network to deliver the best Voice and Data experience to the users because users remain at the heart of everything Ufone 4G ever undertakes, as is evident from its cherished brand slogan, Tum He Tou Ho!