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Category: IT & Telecom

Explore IT and Telecom stories with Pakistan Revenue, your go-to source for the latest updates on Pakistan’s technology and telecom sector. Stay ahead with real-time industry insights and economic developments.

  • Engro Corp announces Rs7.5 billion investment in telecom infrastructure

    Engro Corp announces Rs7.5 billion investment in telecom infrastructure

    KARACHI: Pakistan’s premier conglomerate, Engro Corporation, has announced investment in telecom infrastructure.

    The investment has been approved by board of directors of the corp. in its meeting held on April 25, 2019. The BoD also approved financial results for the quarter ended March 31, 2019.

    Engro Corporation, in light of its long-term strategy, has streamlined its businesses in four verticals namely Food & Agriculture, Energy & Related Infrastructure, Petrochemicals and Telecommunications Infrastructure; focused on creating value and helping Pakistan resolve these pressing issues.

    In order to develop potential business opportunities in the telecommunications infrastructure vertical, the Company had earlier set up Enfrashare (Private) Limited.

    Enfrashare will accelerate development of the country’s connectivity infrastructure, thereby providing an opportunity for people to be part of the new digital era.

    As an initial investment, Enfrashare will engage in the acquisition & construction of shared telecom towers, provision of various telecommunication infrastructure & related services, including state of the art network monitoring solutions.

    “To enable this, the Directors have approved an investment of Rs7.5 billion in this vertical,” a statement said on Friday.

    Ghias Khan, President & CEO Engro Corporation said: “Investments in energy, telecommunications infrastructure, petrochemicals and food and agriculture can accelerate change, help towards increasing exports, substitution of imports, industrialization in the country, job creation and hence build a stronger Pakistan.”

    “Engro Corporation will continue to explore investment opportunities across these four identified verticals with a focus to improve the lives of our stakeholders and communities in which we live and work with a culture founded on truth, trust and a relentless pursuit of excellence.”

    Furthermore, to continue building on Engro’s experience in the Petrochemical sector and keeping with its strategic ambitions that the Company will seek investment opportunities in this vertical, the Board of Directors approved the commencement of a feasibility study of a polypropylene facility based on a propane dehydrogenation plant.

    This will also enable the company to initiate discussions with potential partners and/or stakeholders for developing this project.

    Investment in the Petrochemical sector will create opportunities for both substituting the imports & enhancing the export potential, thus help in building foreign currency reserves of the country.

    Simultaneously with a view to expand its footprint outside Pakistan and to explore potential trading opportunities, the Board has also approved the acquisition of 100 percent shares of Engro Eximp FZE, a wholly owned subsidiary of Engro Fertilizers Limited, for Rs1.76 Billion (subject to adjustments at the date of closing of the transaction and corporate approvals).

    The company’s consolidated revenue grew by 21 percent in comparison to the prior period, driven by higher Urea sales in the Fertilizer business.

    The Company posted a consolidated profit-after-tax (PAT) of Rs6,565 million compared to PKR 6,837 million for the prior period.

  • PTCL upgrades network services in seven cities

    PTCL upgrades network services in seven cities

    KARACHI: Pakistan Telecommunication Company Limited (PTCL) has transformed 13 more exchanges in 7 cities as part of its Network Transformation Project (NTP).

    The upgraded exchanges include Ghakhar, Vaniawala and Pasroor Road exchanges in Gujranwala, Shahdara, Egerton Road and Bahria Town exchanges in Lahore, Chaklala & Islamabad Town exchanges in Islamabad, Charsadda Road & Cantt. exchanges in Peshawar, Sargodha Road exchange in Faisalabad, Wah Cantt. exchange in Rawalpindi and Kharian exchange in Kharian.

    Through PTCL’s new network, customers can experience a faster and more reliable internet based on the company’s enhanced copper network, along with a new fiber network. The upgraded exchanges under NTP have already resulted in a 40% reduction of customer complaints.

    Jahanzeb Taj, Chief Business Operating Officer, PTCL, said, “Under NTP, PTCL has invested considerably in transforming and upgrading its top 100 exchanges, which have the highest number of customers in major cities.

    “As a result, customers can now experience a quality network that offers high speed unlimited internet, state-of-the-art technology, seamless surfing and unlimited data streaming, all of which is vital in today’s digitally connected world.”

    PTCL customers can view the upgraded exchanges through company’s official website and subscribe to 8, 15, 25, 50 and 100 mbps unlimited internet packages offered in transformed exchanges with free PTCL calls, unlimited downloads, free PTCL Smart TV & Smart TV App and free Wi-Fi router.

    The company is striving to provide better services and improved network quality to customers’ fora truly digital lifestyle.

  • PTCL, Zong 4G collaborate for network expansion in remote areas

    PTCL, Zong 4G collaborate for network expansion in remote areas

    KARACHI: Pakistan Telecommunication Company Limited (PTCL) and Zong 4G have entered into a strategic partnership for network expansion in remote and far-flung areas of the country.

    The collaboration will ensure provision of VSAT services by PTCL to further support and expand the network coverage across the country.

    The agreement was signed by Saad Muzaffar Waraich, Chief Technology & Information Officer, PTCL, and Li Wenyu, Chief Financial Officer, ZONG 4G, during the ceremony held at Zong 4G Headquarters in the presence of the senior management and officials of respective companies.

    The collaboration will ensure state-of-the-art VSAT satellite services to further enhance the network coverage and enabling customers from remote areas to enjoy increased speed through Zong 4G’s widest coverage.

    Being the most experienced in the domain of satellite communication, PTCL also has extensive ground support, operation and implementation infrastructure to serve a variety of satellite communication applications.

    The company will offer a complete spectrum of end-to-end connectivity to Zong 4G designated sites.

    Speaking on the occasion, Saad Muzaffar Waraich, Chief Technology & Information Officer, PTCL, said, “We are pleased to sign the agreement with ZONG 4G. PTCL has been serving as the communication backbone of the country since inception of Pakistan and this partnership will help them to expand their high-quality voice and data services to the underserved markets of Pakistan.

    “We are at the forefront of leading the digitization across Pakistan through such partnerships. PTCL continues to play its role in the development of telecom infrastructure, contributing to the overall economic growth of the country.”

    Commenting on the partnership, Mannan Shabbir, Executive Director, Corporate Affairs Division & Company Spokesperson, said, “Being the first and the only operator with more than 10,000 4G sites across the country, Zong 4Gis providing the widest 4G coverage to the largest 4G subscriber base in the Pakistan at an unprecedented scale.

    “Our partnership with PTCL is a testament to our customer-centric approach by providing our customers with the best possible services and solutions through our ever-expanding data network. Leading digitalization efforts across Pakistan, we continue to thrive, not only in the mainstream cities, but also in far-flung and remote areas of Pakistan providing reliable and seamless connectivity.”

    As the winner of ‘Best in 4G services’ award by the Consumers Association of Pakistan and with more than 11 Million 4G customers, Zong 4G is the leading 4G operator of the country.

    Through its continued investment in the network and infrastructure, the company is enabling its customers in every nook and corner of the country to experience world-class 4G services.

    The collaboration will further enhance the digital agenda of Zong 4G and PTCL in empowering millions to remain connected anywhere and everywhere.

  • Clearance of mobile phones: Customs valuation of 234 brands, models issued

    Clearance of mobile phones: Customs valuation of 234 brands, models issued

    KARACHI: Pakistan Customs has issued valuation of 234 different brands and models of mobile phones for the purpose of determination of duty and taxes at clearance stage.

    The Directorate General of Customs Valuation issued valuation advice in order to make it easy for the clearance of mobile phones of different brands and models.

    The directorate said that the list is not exhaustive, hover, covers mostly traded brands and models. It further said that as far as assessment of brands and models not included in the list is concerned the clearance collectorates may like to forward a reference to the directorate.

    Following is the list of mobile phones for customs valuation, which tabled as Serial Number, Name of mobile phone and customs valuation cost and freight in US Dollar/Prices:

    001. Apple, iPhone 6s, 128GB Space Grey, MKQT2UR/A: $449

    002. APPLE, iphone 6s Plus 128GB Space Grey MKUD2UR/A: $549

    003. APPLE, iphone 6s 32GB Space Grey MNOW2UR/A: $349

    004. APPLE, iphone 6s Plus 32GB Space Grey MN2V2UR/A: $449

    005. APPLE, iphone 7 Plus 128GB Black MN4M2UR/A: $669

    006. APPLE, iphone 7 32GB Black MN8X2UR/A: $449

    007. APPLE, iphone 7 128GB Black MN922UR/A: $549

    008. APPLE, iphone 7 Plus 32GB Black MNQM2UR/A: $569

    009. APPLE, iphone 8 64GB Space Grey MQ6G2UR/A: $599

    010. APPLE, iphone 8 256GB Space Grey MQ7C2UR/A: $745

    011. APPLE, iphone 8 Plus 64GB Space Grey MQ8L2UR/A: $699

    012. APPLE, iphone 8 Plus 256GB Space Grey MQ8P2UR/A: $849

    013. APPLE, iphone X 64GB Space Grey MQAC2UR/A: $ 834

    014. APPLE, iphone X 256GB Space Grey MQAF2UR/A: $960

    015. APPLE, iphone XR 64GB Black MRY42UR/A: $749

    016. APPLE, iphone XR 128GB Black MRY92UR/A: $799

    017. APPLE, iphone XR 64GB BLUE MRYA2UR/A: $749

    018. APPLE, iphone XR 128GB White MRYD2UR/A: $799

    019. APPLE, iphone XR 256GB Black MRY12UR/A: $899

    020. APPLE, iphone XS Max 64GB Space Grey MT502UR/A: $1099

    021. APPLE, iphone XS Max 256GB Space Grey MT532UR/A: $1249

    022. APPLE, iphone XS Max 512GB Space Grey MT562UR/A: $1449

    023. APPLE, iphone XS 64GB Space Grey MT9E2UR/A: $99

    024. APPLE, iphone XS 256GB Space Grey MT9H2UR/A: $1149

    025. APPLE, iphone XS 512GB Space Grey MT9L2UR/A: $1349

    026. HONOR, HONOR 5X KIW-L21: $120

    027. HONOR, HONOR 6X BERLIN-L21HN: $145

    028. HONOR, HONOR 8 FRD-L09: $275

    029. HONOR, HONOR 8 LITE PRA-LA1: $125

    030. HONOR, HONOR 6X BERLIN-L61HN: $145

    031. HONOR, HONOR 75 DUA-L22: $75

    032. HONOR, HONOR 7A AUM-L29: $98

    033. HONOR, HONOR 5C PRO, DLI-L42: $105

    034. HONOR, HONOR 7C LND-L29: $111

    035. HONOR, HONOR 9 LITE, LLD-L21: $130

    036. HONOR, HONOR 7X 4GB +32GB, BND-L31: $150

    037. HONOR, HONOR 8X 4GB+64GB, JSN-L22: $187

    038. HONOR, HONOR 7X 3GB+ 64GB BND-L21: $160

    039. HONOR, HONOR 8X 4GB+128GB JSN-L22: $192

    040. HONOR, HONOR PLAY COR-L29: $230

    041. HONOR, HONOR 10 COL-L29: $352

    042. HONOR, HONOR 9 STF-L09L $350

    043. HONOR, HONOR 10 LITE, HRY-LX1: $161

    044. HONOR, HONOR 8C BKK-LX2: $121

    045. HUAWEI, HUAWEI Y625, HUAWEIY625-U32: $50

    046. HUAWEI, HUAWEI Y6, SCL-U31: $63

    047. HUAWEI, HUAWEI P8 LITE, ALE-L21: $110

    048. HUAWEI, HUAWEI G8 RIO-L01: $180

    049. HUAWEI, HUAWEI MATE 8 NXT-L29A: $310

    050. HUAWEI, HUAWEI MATE 8 NXT-L29B: $310

    051. HUAWEI, HUAWEI Y3 II LUA-U22: $42

    052. HUAWEI, HUAWEI Y5 Y560-U02: $52

    053. HUAWEI, HUAWEI Y5 II CUN-U29: $62

    054. HUAWEI, HUAWEI Y6 PRO, TIT-U02: $80

    055. HUAWEI, HUAWEI Y5 II, CUN-L21: $62

    056. HUAWEI, HUAWEI Y6 PRO TIT-ALUU: $80

    057. HUAWEI, HUAWEI Y6 II, CAM-L21: $100

    058. HUAWEI, HUAWEI P9 LITE, VNS-L21: $150

    059. HUAWEI, HUAWEI NOVA PLUS, MLA-L11: $235

    060. HUAWEI, HUAWEI P9 EVA-L19: $280

    061. HUAWEI, HUAWEI P9 PLUS VIE-L29: $350

    062. HUAWEI, HUAWEI MATE 9 MHA-L29B: $410

    063. HUAWEI, HUAWEI Y3 2017 3G, CRO-U00: $60

    064. HUAWEI, HUAWEI Y3 2017 CRO-L22: $78

    065. HUAWEI, HUAWEI Y5 2017 MYA-22: $97

    066. HUAWEI, HUAWEI Y7 PRIME TRT-L2LA: $130

    067. HUAWEI, HUAWEI MATE 10 LITE RNE-L21: $182

    068. HUAWEI, HUAWEI P10 LITE, WAS-LX1A: $185

    069. HUAWEI, HUAWEI P10, VTR-L29: $330

    070. HUAWEI, HUAWEI MATE 10 PRO BLA-L29: $497

    071. HUAWEI, HUAWEI MATE 10, ALP-L29: $425

    072. HUAWEI, HUAWEI P10 PLUS, VKY-L29: $450

    073. HUAWEI, PORSCHE DESIGN HUAWEI MATE 10, BLA-L29D: $900

    074. HUAWEI, HUAWEI Y5 PRIME 2018, DAR-LX2: $82

    075. HUAWEI, HUAWEI Y6 PRIME 2018, ATU-L31: $111

    076. HUAWEI, HUAWEI Y7 PRIME 2018, LDN-L21: $126

    077. HUAWEI, HUAWEI Y9 2018, FLA-LX2: $156

    078. HUAWEI, HUAWEI P SMART, FIG-LAL: $173

    079. HUAWEI, HUAWEI Y9 2019, JKM-LX1: $179

    080. HUAWEI, HUAWEI NOVA 31, INE-LX1: $201

    081. HUAWEI, HUAWEI P20 LITE, ANE-LX2: $205

    082. HUAWEI, HUAWEI NOVA 3, PAR-LXIM: $324

    083. HUAWEI, HUAWEI, P20 PRO, CLT-029, $568

    084. HUAWEI, Huawei Media Pad T310, AGS L09: $132

    085. HUAWEI, Huawei Media Pad, T37, BG2U014: $73

    086. HUAWEI, Huawei YS LITE, ORALX5, $70

    087. HUAWEI, Huawei Mate 20 Pro, LYA-129: $692

    088. HUAWEI, Huawei Y2 Prime 2019, DUB: $127

    089. HUAWEI, HuaweiY6 Prime 2019, MRD: $99

    090. HUAWEI, Huawei P30, ELE L29: $499

    091. HUAWEI, Huawei P30PRO, VOG L29: $770

    092. INFINIX, Smart 2 HD, X609: $80

    093. INFINIX, HOT 6, X606C: $71

    094. INFINIX, S3X 64+4, X622, $117

    095. INFINIX,S3X 32+3, X622: $108

    096. INFINIX, ZERO 5, X603: $124

    097. INFINIX,Note 5, X604: $126

    098. INFINIX, Note 5 Stylus, X605: $142

    099. INFINIX, Smart 2 16+2, X5515F: $45

    100. INFINIX, Smart 2 32+2, X55151: $66

    101. INFINIX, Hot 6 Pro, X608: $89

    102. ITEL, ITEL -A32F, A32F: $41

    103. LENOVO, Lenovo B, A-2016: $58

    104. LENOVO, Lenovo C, A-2020: $66

    105. LENOVO, Lenovo 6010, A-6010: $90

    106. LENOVO, Karate Plus, A-6020: $121

    107. LENOVO, C2 Power, K 10: $97

    108. LENOVO, Karate KG, K33: $133

    109. LENOVO, K6 Note, K 53 A: $153

    110. LENOVO, Moto M, XT1633: $181

    111. LENOVO, P2, P2: $228

    112. LENOVO, Moto Z Play, XT1635: $315

    113. LENOVO, Moto Z, XT1650: $474

    114. LENOVO, K320, K320T: $54

    115. LENOVO, KS Play, L38011: $111

    116. LENOVO, S5, K520: $158

    117. MEIZU, M711H-M6, MEIZU-M711H: $81

    118. MEIZU, M721H-M6 NOTE, MEIZU-M721H: $181

    119. MEIZU, M792H-PRO 7, MEIZU-M792H: $213

    120. MEIZU, M793H-PRO 7 PLUS, MEIZU-M793H: $272

    121. MEIZU, M6T, MEIZU-M811H: $98

    122. MEIZU, C9, MEIZU-M818H: $58

    123. MOTOROLA, XT1663( MOTO M), XT1663( MOTO M): $181

    124. MOTOROLA, XT1635( MOTO Z PLAY), XT1635( MOTO Z PLAY): $315

    125. MOTOROLA, XT1650( MOTO Z), XT1650( MOTO Z), XT1650( MOTO Z): $47

    126. MOTOROLA, XT1762( E4), XT1762( E4): $75

    127. MOTOROLA, XT1723( C PLUS), XT1723(C PLUS): $81

    128. MOTOROLA, XT1771( E4 PLUS), XT1771(E4 PLUS): $126

    129. MOTOROLA, XT1805( G55 PLUS), XT1850( G55 PLUS): $145

    130. MOTOROLA, XT1944-2( E5), XT1944-2( E5): $116

    131. MOTOROLA, XT1924-1 E5 PLUS, XT1924-1 E5 PLUS: $154

    132. MOTOROLA, XT1925-5( G6 64GB), XT1925-5( G6 64GB): $222

    133. MOTOROLA, XT1926-3( G6 PLUS), XT1926-3 (G6 PLUS): $249

    134. NOKIA, NOKIA 130 DS, RM-1035: $12

    135. NOKIA, NOKIA 105 SS, RM-1134: $10

    136. NOKIA, NOKIA 105 DS, RM-1133: $9

    137. NOKIA, NOKIA 108 DS, RM-944: $12

    138. NOKIA, NOKIA 215 DS, RM-1110: $15

    139. NOKIA, NOKIA 222 DS, RM-1136: $20

    140. NOKIA, NOKIA 150 DS, RM-1190: $23

    141. NOKIA, NOKIA 216 DS, RM-1187: $27

    142. NOKIA, NOKIA 230 DS, RM-1172: $44

    143. NOKIA, NOKIA 105 DS, TA-1034: $12

    144. NOKIA, NOKIA 130 DS, TA-1017: $17

    145. NOKIA, NOKIA 3310 DS, TA-1030: $37

    146. NOKIA, NOKIA 3310 3G, TA-1006: $40

    147. NOKIA, NOKIA 2 DS, TA-1029: $75

    148. NOKIA, NOKIA 3 DS, TA-1032: $99

    149. NOKIA, NOKIA 5 DS, TA-1053: $135

    150. NOKIA, NOKIA 8, TA-1004: $399

    151. NOKIA, NOKIA 106 DS, TA-1114: $12

    152. NOKIA, NOKIA 8110 DS, TA-1059: $56

    153. NOKIA, NOKIA 1 DS, TA-1047: $55

    154. NOKIA, NOKIA 2.1 DS, TA-1080: $82

    155. NOKIA, NOKIA 3.1( 2+16 GB), TA-1063: $111

    156. NOKIA, NOKIA 3.1 PLUS, TA-1104: $126

    157. NOKIA, NOKIA 3.1( 3+32 GB), TA-1063: $133

    158. NOKIA, NOKIA 6 DS, TA-1021: $162

    159. NOKIA, NOKIA 5.1 PLUS, TA-1105: $155

    160. NOKIA, NOKIA 6.1( 3+32 GB), TA-1043: $198

    161. NOKIA, NOKIA 6.1 PLUS, TA-1116: $195

    162. NOKIA, NOKIA 6.1(4+64 GB), TA-1043: $226

    163. NOKIA, NOKIA 7 PLUS, TA-1046: $274

    164. NOKIA, NOKIA 8.1, TA-1119: $320

    165. NOKIA, NOKIA 210 DS, TA-1139: $25

    166. NOKIA, NOKIA 1 PLUS DS, TA-1130: $68

    167. NOKIA, NOKIA 7.1, TA-1095: $194

    168. SAMSUNG, GALAXY-J1-MINI-PRIME, J106H: $46

    169. SAMSUNG, GALAXY-A3( 2017), A320F: $210

    170. SAMSUNG, GALAXY-A5( 2017), A520F: $250

    171. SAMSUNG, GALAXY-A7( 2017), A720F: $310

    172. SAMSUNG, GALAXY-J2( 2018), J250F: $95

    173. SAMSUNG, GALAXY-J7-NEO 16GB, J701F: $125

    174. SAMSUNG, GALAXY-J5( 2017), J530F: $170

    175. SAMSUNG, GALAXY-J7-MAX, G615: $220

    176. SAMSUNG, GALAXY-J7( 2017) 32GB, J730F: $206

    177. SAMSUNG, GALAXY-A8( 2018), A530: $396

    178. SAMSUNG, GALAXY S8, G950F: $535

    179. SAMSUNG, GALAXY S8+, G955F: $691

    180. SAMSUNG, GALAXY NOTES, N950F: $760

    181. SAMSUNG, GALAXY-J4, J400F: $105

    182. SAMSUNG, GALAXY-J4+, J415F: $120

    183. SAMSUNG, J4 CORE, J410F: $98

    184. SAMSUNG, J2 CORE, J260F: $80

    185. SAMSUNG, GALAXY-J6, J600F: $160

    186. SAMSUNG, GALAXY-J6+, J610F: $158

    187. SAMSUNG, GALAXY A6, A600F: $265

    188. SAMSUNG, GALAXY-J8, J810F: $245

    189. SAMSUNG, GALAXY-A7( 2018), A750F: $260

    190. SAMSUNG, GALAXY-A6+, A605F: $295

    191. SAMSUNG, GALAXY-A8+( 2018), A730F: $444

    192. SAMSUNG, GALAXY-A9( 2018), A920F: $451

    193. SAMSUNG, GALAXY S9, G960F: $560

    194. SAMSUNG, GALAXY S9+, G965F 64 GB: $736

    195. SUMSUNG, GALAXY S9+, G965F 128 GB: $766

    196. SAMSUNG, GALAXY NOTE9, N960F 128GB: $770

    197. SAMSUNG, GALAXY NOTE9, N960F 512GB: $966

    198. SAMSUNG, Grand Prime Plus, G532: $84

    199. SAMSUNG, GALAXY A10, SM-A105F: $99

    200. SAMSUNG, GALAXY A30, SM-A305F: $176

    201. SAMSUNG, GALAXY A50, SM-A505F: $235

    202. SAMSUNG, GALAXY A20, SM-A205F: $129

    203. SAMSUNG, GALAXY S10 PLUS-128, SM-G975F/128: $793

    204. SAMSUNG, GALAXY S10 PLUS-512, SM-G975F/512: $995

    205. SAMSUNG, GALAXY S10-128, SM-G973F/128: $713

    206. SAMSUNG, GALAXY TAB E SM-T561, SM-T561: $132

    207. SONY, XPERIA L1, G3312: $115

    208. SONY, XPERIA L2, H4311: $173

    209. SONY, XPERIA XA1, G3112: $153

    210. SONY, XPERIA XA1 PLUS, G3412: $215

    211. SONY, XPERIA XAI ULTRA, G3212: $230

    212. SONY, XPERIA XZ, F8332: $305

    213. SONY, XPERIA XZ1, G8342: $390

    214. SONY, XPERIA XZ PREMIUM, G8142: $430

    215. SONY, XPERIA XA2 ULTRA, H4213: $320

    216. TECNO, TECNO-WX3, WX3: $37

    217. TECNO, TECNO-WX4 PRO, WX4PRO: $60

    218. TECNO, TECNO-Spark pro, K8: $69

    219. TECNO, TECNO-Camon CX air, Cx air: $73

    220. TECNO, TECNO-Camon I air, IN3: $85

    221. TECNO, TECNO-Camon I, IN5: $102

    222. TECNO, TECNO-F3, F3: $50

    223. TECNO, TECNO-IN1 Pro, IN1Pro: $52

    224. TECNO, TECNO-POP, B1: $29

    225. TECNO, TECNO-POP, B2: $50

    226. XIAOMI, REDMI 5A HD, MI-C3B: $110

    227. XIAOMI, REDMI 5 (2GB), MI-D1: $134

    228. XIAOMI, REDMI 5 (3GB), MI-DI: $150

    229. XIAOMI, REDMI 52 (3GB), MI-E6: $164

    230. XIAOMI, REDMI 52 (4GB), MI-E6: $201

    231. XIAOMI, REDMI 5 PLUS (3GB), MI-E7: $158

    232. XIAOMI, REDMI NOTE 5 PRO (3GB), MI-E7S: $182

    233. XIAOMI, REDMI 5 PLUS (4GB), MI-E7: $205

    234. XIAOMI, REDMI NOTE 5 PRO (4GB), MI-E7S: $226

  • SBP to expedite payment license issuance to FinTech companies

    SBP to expedite payment license issuance to FinTech companies

    KARACHI: State Bank of Pakistan (SBP) will expedite issuance of payment licenses to FinTech companies in order to accelerate financial inclusion program.

    A report on “Roadmap for Stability and Growth” issued by Finance Ministry, regarding financial inclusion program, stated that SBP to expedite issuance of Payment licenses to Fintech companies with established customer base; development of Micro Payment Gateway (MPG) for retail payments; facilitate expansion of national merchant integration into mobile payments and commence operationalization of Asaan Mobile Account (AMA) Scheme.

    It said that much remains to be done on financial inclusion. As of 2015, merely 16 percent of the adult population had a bank account, with account ownership for women standing at a dismal 11 percent, whereas a large segment of faith-sensitive population remained voluntarily excluded.

    Financing to priority sectors such as agriculture and housing remained constrained, with SMEs claiming a minuscule share.

    Moreover, regional disparities increased over time.

    The National Financial Inclusion Strategy (NFIS), developed and adopted by the government in 2015, aimed at achieving inclusive economic growth through enhanced access to finance and deposit base, promotion of small and medium enterprises, easy and affordable access to finance to farmers, facilitation in low cost housing finance and provision of Shariah-compliant banking solutions.

    Digitization of payments across the country borders is a priority of the Government and the following targets have been set for achievement by 2023:

    Enhance usage of Digital Payments (65 million active digital transaction accounts, with gender segregation of 20 million accounts by Women).

    By digitizing government payments and receipts, automation of CDNS branches, and digitization of services provided by Pakistan Post the Government san kick start digitization of payments.

    Fiscal concessions may be offered on mobile phone duties (< Rs 8k), and sales tax for user charges for Data be refunded into subscriber account monthly by Telephone companies, against Government refunds, or suitable alternative method. To oversee progressive digitization of government payments and to coordinate regulatory enabling, the Government may consider institutionalizing centralized responsibility under a Chief Digital Officer at the Ministry of Finance. It would be necessary to hire a market professional for this function.

    • Enhance Deposit Base (Deposit-to-GDP ratio to 55 percent)

    • Promote SME Finance (Extend finance to 700,000 SMEs; 17 percent of the private sector credit)

    • Increase Agricultural Finance (Serve 6 million farmers through digitalized solutions; enhance annual disbursement to Rs1.8 trillion)

    • Enhance share of Islamic Banking (25 percent of the banking industry; increase branches of Islamic banks to 30 percent of the banking industry)

  • PTCL quarterly revenue grows by 11 percent

    PTCL quarterly revenue grows by 11 percent

    ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) on Wednesday announced group’s revenue growth by 11 percent for first quarter ended March 2019.

    The financial results announced at the Board of Directors’ meeting held in Islamabad on April 17, 2019.

    PTCL Group’s revenue for the quarter has grown YoY by 11 percent to Rs.33.5 billion as a result of an accelerated growth in the Ufone and Ubank revenues.

    Ufone revenue has increased double digits YoY, UBank, a microfinance banking subsidiary of PTCL, has shown significant growth of 53 percent in its quarterly revenue over last year.

    PTCL Group’s operating profit and net profit for the quarter have improved by 34 percent and 95 percent respectively as a result of the revenue growth.

    PTCL revenue of Rs.17.9 billion for the quarter is slightly lower than last year.

    PTCL’s flagship Fixed Broadband services posted revenue growth of 5.8 percent over last year.

    PTCL continues its journey to upgrade top 100 exchanges under Network Transformation Project (NTP) in different parts of Pakistan.

    For the 76 exchanges fully transformed to date in 12 cities YoY revenue growth is even higher at 12 percent and there is 40 percent reduction in customer complaints.

    Corporate business continued its growth momentum from a strong 2018 and has achieved a double digit growth YoY. Growth drivers for corporate business are Cloud Infrastructure, IT, Security and Managed Services projects.

    Wireless revenue for the quarter has declined on year-on-year basis due to strong competition by the cellular companies providing wireless data services.

    There is continued decline in domestic and international voice revenues due to illegal/grey traffic termination, continued conversion of subscribers to OTT and cellular services resulting in declining voice traffic volumes.

    PTCL posted a Net Profit after Tax which is 10 percent higher than last year.

    Operating profit for the quarter remained under pressure compared to last year mainly due to increase in operating cost on account of significant hike in power tariffs.

    However, non-operating income has increased due to higher income on investments as a result of significant increase in benchmark interest rates by the State Bank of Pakistan.

  • SRB suspends registration of IT firm for unrealistic input tax adjustment

    SRB suspends registration of IT firm for unrealistic input tax adjustment

    KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of an information technology (IT) firm for unrealistic adjustment of input tax adjustment.

    According to a notice, the SRB suspended sales tax registration of M/s. Cube XS Weatherly (Pvt) Limited. The SRB said that the taxpayer had filed nil return for the tax periods from October 2013 to January 2019 and claimed / adjusted heavy amount of input tax wherein the input-to-output tax ratio is as much as 2,573 percent, which is neither economically possible nor is allowed under provision of Sindh Sales Tax Act, 2011.

    The SRB further said that the taxpayer had adjusted/claimed full amount of input tax without apportioning the same which was tantamount to tax fraud and was also contravention under provincial tax laws.

    The taxpayers had been asked in hearing on February 14, 2019 to furnish the copies of audited financial statements along with bifurcation of revenues/sales but registered person failed to do so.

    “The registered person has neither deposited the Sindh sales tax nor e-filed the returns for the tax period of February 2019,” the SRB said.

    The SRB directed the taxpayer to take remedial actions by April 25, 2019 to revoke the suspension.

    In case of non-satisfactory response or failure to take remedial measures on or before April 25, 2019 the case would be further proceeded for cancellation of the taxpayer’s registration with SRB, the notice said.

  • Adil Rashid appointed as CEO Wateen Telecom

    Adil Rashid appointed as CEO Wateen Telecom

    KARACHI: Wateen Telecom Board of Directors announced today that Adil Rashid has been appointed as Chief Executive Officer of the company effective April 22 and he will replace Rizwan Tiwana, who has resigned for personal reasons.

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  • PTCL facilitates payment for Netflix subscription

    PTCL facilitates payment for Netflix subscription

    KARACHI: Pakistan Telecommunication Company Limited (PTCL) has facilitated its customers for pay subscription of Netflix, the world’s leading internet entertainment service, in their monthly broadband bills.

    A statement on Monday said that the PTCL had partnered with Netflix. “This partnership will enable PTCL customers to easily pay for their Netflix subscription as part of their monthly PTCL broadband bills, eliminating the need to share additional credit card or debit card details.”

    New and existing PTCL customers can avail this service by simply registering at https://www.ptcl.com.pk/netflix.

    Speaking on this collaboration, Moqeem ul Haque, Chief Commercial Officer, PTCL, said, “Many PTCL customers enjoy the stellar content catalogue of Netflix through our broadband service that offers seamless high speed internet connectivity.

    “This encouraged us to offer them a convenient way to pay for their Netflix subscription through their monthly PTCL bills.”

    Speaking on the partnership, Tony Zameczkowski, Vice President, Business Development, Asia, Netflix, said: “The growing broadband internet ecosystem in Pakistan is fueling the rise of video consumption in the country.

    “Our association with PTCL enables their customers to seamlessly pay for their Netflix subscription, and enjoy the wide breadth of content from across the world on any internet connected screen.”

    PTCL provides digital lifestyle to its customers through its vast array of products and services, including international collaborations like Netflix that bring ease and convenience to the subscribers.

  • PTCL signs agreement for clean, green Pakistan

    PTCL signs agreement for clean, green Pakistan

    ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) and Ministry of Climate Change (MoCC) have signed an agreement to support the Clean Green Pakistan Movement.

    This collaboration will enable to tackle issues of low forest cover and poor cleanliness in urban & rural areas of Pakistan, said a statement on Tuesday.

    Under this MoU, PTCL and MoCC agreed upon afforestation of 200,000 trees across PTCL sites in the next five years.

    The MoU was signed by Syed Mazhar Hussain, Chief Human Resource Officer, PTCL and Babar Hayat Tarar, Additional Secretary, Ministry of Climate Change, followed by plantation of saplings at PTCL HQ.

    Furthermore, PTCL will initiate cleanliness drives in Karachi, Lahore and Islamabad to assist the solid waste management.

    In the initial phase, the company pledges to ban non-recyclable plastics in PTCL HQ in Islamabad.

    The company shall also arrange clean drinking water for its employees in connection with its resolve to implement health care and better environment to the workforce.

    Moreover, PTCL will also install filtration units to provide clean drinking water for the general public.

    On the occasion, Ms. Zartaj Gul Wazir, State Minister for Climate Change, said, “We are glad to collaborate with PTCL on Clean Green Pakistan Movement, which is to create awareness across the country regarding the importance of environmental preservation. PTCL has initiated a comprehensive awareness campaign on converting customers from paper bill to eBilling, which is a step in the right direction. As a nation, we need to come together to tackle issues like pollution and low forest cover. Under the Prime Minister Imran Khan’s vision of clean and green Pakistan, partnerships like this are going to pave the way in achieving our objective.”

    On the occasion, Rashid Khan, President and CEO, PTCL, said, “As a national company, it is our responsibility to support Clean Green Pakistan Movement. We are happy to collaborate with Ministry of Climate Change to create awareness and conduct trainings on environmental preservation. To promote this initiative, our teams across Pakistan will be executing afforestation campaigns.”

    In the past, PTCL has partnered with WWF for plantation of200,000 mangrove seeds in Balochistan, as part of the conservation organizations nationwide tree plantation campaign, called ‘Rung Do’. PTCL HQ is also Green Office certified by WWF.

    Recently, the company has also taken steps to ensure that numerous avenues are open for customers to opt for eBilling like PTCL website, Touch App and helpline 1218, to go paperless and save trees.

    PTCL is constantly contributing towards saving the environment and a greener Pakistan.