Day: March 11, 2023

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PACRA Maintains Asset Manager Rating of PAK Oman Asset Management Company Limited

Lahore, March 11, 2023 (PPI-OT): Pak Oman Asset Management Company Ltd (or the “POAMCL”) is a Non-Banking Finance Company incorporated on July 28, 2006 as a public unlisted company with the principal objective of acting as an investment manager for mutual funds. The prominent business acumen of the sponsor bodes well for the rating.

The Company is eying to increase its market share in rapidly growing market. Currently the market share of the Company stood at 0.6% during CY22. However, the AUMs of the Company increased by 17% to PKR 9.3bln at the end Dec’22 (SPLY: 7.9bln).

The number of retail client is 89% of mixed investors. The Fund performance of the Company remained adequate as 65% of the Fund underperformed the benchmark. Whereas, 35% of the Fund outperformed the benchmark.

On the financial side, the core income of the Company decreased by 25% to PKR 54mln at the end Dec’22 (SPLY: 72mln). The net profit of the Company stood at PKR 0.25mln at the end Dec’22 (SPLY: loss PKR -164mln). The equity of the Company stood at PKR 150mln in the end Dec’22 (Dec’21: PKR 149mln) which is below the regulatory requirement of PKR 230mln.

However, Pak Oman Investment Company extend support to POAMCL by injecting equity which will help the company to meet its minimum regulatory requirement and will ensure proper execution of the business plan as desired.

The positive outlook assigned to the Company, reflects the growing AUMs, diversifying fund slate, retail penetration and sponsor’s commitment to support equity base. The rating is dependent on the Company’s ability to enhance its market position, gain in terms of assets under management and maintaining strong performance of its funds. Meanwhile, upholding high governance standards and strengthening of risk management is crucial for the rating.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com

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It is myth that girl’s education is opposed in underprivileged areas of Sindh

Lahore, March 11, 2023 (PPI-OT): The non-profit Green Crescent Trust (GCT), which has been striving to enrol out-of-school children in remote and underprivileged parts of Sindh, has not experienced the closure of any of its schools not for a single day due to any security-related issue in the past 29 years since its inception. This was disclosed by GCT Chief Executive Officer (CEO) Zahid Saeed as he spoke at a fundraiser for the non-profit organisation for schooling of over 30,500 children belonging to underprivileged families who are enrolled in 160 GCT schools in remote and impoverished areas of the province.

“On the basis of our continuous work in the past 29 years, we have been able to bust two very popular myths about Sindh: one is that feudal landlords of the province do not allow the opening of quality schools in their areas and secondly they oppose schooling of native girls,” said Saeed. He added that the GCT had opened its schools in such remote and underprivileged parts of the province where there was no government school. “Even then our schools never ever faced any law and order problem,” he said. He told the audience that of a total of over 30,500 children in the GCT’s schools, 14,500 were girls, which showed that his charity had faced no issue in enrolling daughters belonging to deprived families.

“Our way of working is that prior to the opening of a new school in a faraway area, we take into confidence its influential persons about our plan to spread education in the area and we always get fullest cooperation from the elders of the community that is going to be benefited from our charitable activity,” he explained. He said the GCT with the support from philanthropists, donors, corporate sector, like-minded charities and government agencies would continue its drive to educate children of Sindh. He informed the audience that the GCT had the aim to increase the number of its charitable schools to 250 till 2025 having enrolment of a total of 100,000 children from destitute families.

The GCT CEO said some 25 million out-of-school children were one of the most serious national issues in Pakistan and all the relevant NGOs, charities, government and public sector institutions should join hands to tackle this problem in the shortest possible time. He said Pakistan had the massive potential to become a superpower like China in a few years but for achieving such a goal, it was necessary that each and every child in the country should get quality schooling.

Speaking on the occasion, GCT Patron-in-chief and noted industrialist Sardar Yasin Malik shared with the audience his personal story of how education had enabled him to progress from an ordinary man in Karachi to becoming the country’s top taxpayer. He said that education was the only way forward for the new generation of underprivileged families to come out of the vicious circle of poverty and exploitation.

He advised the audience that after attaining education one should practice entrepreneurship for securing financial empowerment in the shortest possible time. He praised Saeed’s commitment to building charitable schools in the remotest parts of Sindh where concerned parents did not have financial means to educate their children.

For more information, contact:
Green Crescent Trust (GCT)
Office # 310 and 311, Plot # E1-RSM Square Commercial Area,
Block 7/8, Shaheed-e-Millat Road, Karachi, Pakistan
Tel: +92-21-34556238
UAN: +92-21-111-111-GCT (428)
E-mail: info@gct.org.pk
Website: www.gct.org.pk

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IIUI Discussion Panel Suggests Establishment of Authentic News Platform of Arabic Language in Pakistan

Islamabad, March 11, 2023 (PPI-OT): Participants of a panel discussion at International Islamic University (IIU) have stressed upon establishing an authentic platform of Arabic language keeping in view the news and digital media to portray the true image of Pakistan in Arab countries. The discussion on the topic of “Digital Media in Pakistan: Challenges, opportunities, and strengthening Pakistan’s relations with Arab countries” was jointly organized by the Department of Protocol and Public relations (P and PR) of IIU and Pakistan Institute of Arabic, at the Faisal Masjid campus of the university. The participants called upon academia to closely work with digital media experts to educate youth on use of social media for positive change in the society. They also suggested that legislative quarters must be urged to establish an official Arabic language platform for news and digital media.

Sharing his thoughts, Dr. Talha Kashmiri, Head of Pakistan Institute of Arabic said that increasing polarization in the digital media landscape is alarming. He said rigidity has swallowed the ethics of difference of opinion. He opined that there is a dire need that people with a sane approach must come forward and play their role in promoting facts instead of hate speech, radicalization and uncertainty. Dr. Talha called for an official platform to be a bridge between Pakistan and Arab countries to manage the flow of accurate and factual news instead of relying upon foreign newswires. He also suggested Pakistan and Arab counters must collaborate in this regard and learn from experiences of each other through mutual cooperation.

Senior journalist and digital media expert Sabookh Syed said on the occasion that knowing the digital media propaganda and tackling it with a positive approach is an art. He also elaborated the terms of misinformation, disinformation and fake news. He also apprised the participants about response to defamatory content such as its frequency and duration. He said there is a need to know the lens of the world, adding that we must know the priorities of the developed world that also can be acceptable according to our values. He also underscored the role of Arab countries especially Saudi Arabia in Pakistani development. He shared his experiences and results of positive social media campaigns in the society.

In his remarks on the occasion, Incharge Protocol and Public Relations, Nasir Farid said that academia and senior digital media experts must come forward to work for the cause of image building of Pakistan. He said the Arab world and Pakistan have a strong connection and Pakistan has time tested ties with the Arab nations but there are few elements who want to dent these relations through negative propaganda on digital media. He called for promotion of social media ethics and formulation of policy to deal with negative elements on digital media. Senior Arabic language journalist Abdul Rehman Hayat, Assistant Directors (P and PR) Al-Hassan and Muhammad Nauman and students of the university also shared their thoughts on the topic.

For more information, contact:
Public Relations,
International Islamic University Islamabad (IIUI)
Room No.118, Admin Block, New Campus,
H-10 Sector, Islamabad, Pakistan
Tel: +92-51-9019249
Fax: +92-51-9257909
Email: iiuipublicrelations@iiu.edu.pk
Website: www.iiu.edu.pk

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Dr. Imran Batada’s Book” Digital Pakistan” Launched at IoBM

Karachi, March 11, 2023 (PPI-OT): The book “Digital Pakistan” by Dr. Imran Batada was launched at the Institute of Business Management (IoBM), Karachi on Saturday, March 11, 2023. The book offers a complete digital media guideline for policymakers, industry professionals, and students to move forward, transform, and contribute to the GDP of Pakistan. Dr. Ishrat Husain, Former Governor of the State Bank of Pakistan was the Chief Guest at the occasion. Mr. Fahd Haroon, Special Assistant to Prime Minister on Public Communication and Digital Platforms also attended the event. Mr. Haroon holds extensive experience in holding government offices covering a wide range of strategic, media, and public relation domains.

Dr. Imran Batada, an esteemed professional whose career spans over 20 years both locally and internationally, is currently serving as the Chief Technology Officer and Director Center for Information Technology (CIT) at IoBM. The speakers at the book launch ceremony considerably appreciated his efforts in writing the book that presents a holistic viewpoint and insights on how to best utilize digital media in Pakistan. The panellists were of the view that digital media is the future. This book will provide a roadmap for industry leaders, policymakers, and especially students and freelancers to broaden their mental horizons regarding the nature and working of digital media and how best to utilize its various elements for personal and professional growth. The book is one of the many books published by IoBM. The guests appreciated how IoBM is facilitating its faculty members in the book publishing process.

In his welcome address, Mr. Talib Karim, President, IoBM stated, “This year IoBM has launched two books. The first one was by Dr. Shahida Wizarat, launched in February. Dr. Imran Batada’s book is the second in the series. Dr. Imran has done a remarkable job in initiating IoBM to have a paperless environment. We are developing campus management software and he has successfully initiated a digital marketing diploma at IoBM primarily to facilitate freelancers. This book is a collection of his articles over many years.”

The Chief Guest, Dr. Ishrat Hussain, in his speech, expressed his views noting: “I admire his efforts in compiling his articles in the form of a book. Reading books has become a rare commodity. We have become 14-word captive readers. We should devote time to reading articles and understanding their content. Bringing articles on various subjects in one book is a commendable step. I congratulate Mr. Talib Karim for supporting this project.”

Mr. Fahd Haroon also lauded the book and said: “This work from Dr. Imran is a timely and important contribution to the ongoing discussion of digital Pakistan. Digitalization has the potential to revolutionize our business and communication while also bringing an opportunity to connect with people from all over the world. As public office holders, it is our duty to ensure digital platforms are used for constrictive activities”

While talking to the media, Dr. Imran Batada said, “The book, Digital Pakistan, emphasizes the importance of digitalization for Pakistan’s future. We need to embrace digitization, invest in our digital infrastructure, and build an ecosystem that fosters growth, innovation, and prosperity. The world is headed for a digital future, and we cannot afford to fall behind. The time has come for Pakistan to embrace digitalization and exploit it to its full potential”.

Amongst those who attended the event were renowned professionals including Ashfaque Ahmed, Head of Digital, BankIslami Pakistan Ltd., Shaukat Ali Khan, Global Chief Information Officer, Aga Khan University, Tabasum Abid, Director IT and Chief Technical Officer, Sindh Police, Hussein Hassan Ali, GM, Head IT Audit, Habib Bank Limited, Iftikhar Arif, General Manager IT and E-commerce, Muller and Phillips Pakistan; and Sohaib Hassan, Co-Founder Brand and Media Learning Hub.

For more information, contact:
Institute of Business Management (IoBM)
Korangi Creek, Karachi, Pakistan
UAN: +92-21-111-002-004
Tel: +92-21-35090961-67
Fax: +92-21-35090968
Email: omer.iftikhar@iobm.edu.pk, mec@iobm.edu.pk
Website: https://www.iobm.edu.pk/

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Buzdal Khan, hiding in the basement, has screamed out of fear of reckoning and accountability in mega corruption cases: Secretary General Syed Nair Hussain Bukhari

Karachi, March 11, 2023 (PPI-OT): Traitor you are staggered by the crutches being removed, Imran will remove you from the constitutional weapon due to the distrust of PTI and allies due to Imran’s extra-constitutional and legal actions.

For more information, contact:
PPP Media Cell (Sindh)
Pakistan People’s Party (PPP)
Peoples Secretariat Shikarpur Colony,
Behind Mazar-e-Quaid-e-Azam, Karachi, Pakistan
Cell: +92-305-3370383
Email: contact@ppp-tu.com
Website: https://www.ppp.org.pk

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Usman puts Gladiators to the sword, Abbas grabs a hat-trick

Lahore, March 11, 2023 (PPI-OT): Multan Sultans opener Usman Khan put his former franchise Quetta Gladiators to the sword and fast bowler Abbas Afridi registered a hat-trick to help Peshawar Zalmi to qualify for the HBL Pakistan Super League Eliminator 1 at Gaddafi Stadium on Thursday. Usman, who played six matches for the Gladiators in 2021, hit a ruthless and destructive 43-ball 120 as Multan Sultans posted the league’s highest total of 262 for three. Abbas Afridi then recorded a split hat-trick and finished with figures of five for 47 as Quetta Gladiators put up a strong fight before finishing at 253 for eight. The match aggregate of 515 runs was a new world record, beating the match aggregate of 501 runs between the Titans and Knights in the CSA T20 Challenge in 2022.

Gladiators, who needed to achieve the target in 10.3 overs and then hope Peshawar Zalmi lose heavily on Sunday to progress to the playoffs, ended their campaign with three wins and seven defeats. Karachi Kings are presently languishing at the bottom of the table, but will have chance to finish ahead of the Gladiators when they will face Lahore Qaladars at the Gaddafi Stadium on Sunday. However, to make it happen, they will have to beat the side that has recorded seven victories and has already qualified for the 15 March Qualifier.

The result also meant Peshawar Zalmi with four wins will feature in the 16 March Eliminator 1 irrespective of how their Sunday’s match against Islamabad United pans out. In contrast, if Islamabad United beat Peshawar Zalmi, they will move to 14 points and will take on Lahore Qalandars in the 15 March Qualifier. In the scenario of Islamabad United losing on Sunday, they will finish on 12 points and third on points table on net run-rate, meaning they will take on Peshawar Zalmi in the 16 March Eliminator 1. Usman took full advantage of the absence of Naseem Shah and Mohammad Hasnain when he canned 12 fours and nine sixes in a 43-ball onslaught. He completed his first 50 from 22 balls with seven fours and three sixes, while his next 50 runs came off 14 balls with four fours and four sixes. His 36-ball 100 was the quickest century in HBL PSL, beating 24-hour-old record of team-mate Rilee Rossouw, who had reached the three figures in 41 balls against Peshawar Zalmi.

Usman made his intentions clear in the third over of the innings when he slapped Aimal Khan for four fours in five balls. In the sixth over, Usman welcomed Qais Ahmed by taking him to the cleaners by hitting three sixes and two fours as Multan Sultans completed their PowerPlay overs at 91 for no loss. Usman showed no respect to the Afghanistan bowler when he returned in the ninth over, again belting him for three sixes and two fours. The hapless Qais Ahmed ended up with the most expensive HBL PSL figures of 4-0-77-2. Usman was eventually stumped off a Mohammad Nawaz wide but after the Multan Sultans scoreboard showed 157 in 10 overs.

Rizwan carried on Usman’s good work by scoring 55 off 29 balls with six fours and two sixes, Tim David struck a 25-ball 43 not out with one four and four sixes and Kieron Pollard chipped in with 14-ball 23 not out with two fours and a six. Quetta Gladiators’ hopes for a miracle ended before the end of the fifth over when Jason Roy (6) and Martin Guptill (37) were back in the dressing room with the scoreboard reading 60, which soon became 68 for three with the demise of Mohammad Hafeez (1).

Iftikhar Ahmed and Omair Bin Yousuf entertained a packed house with lusty hitting in a 104-run fourth wicket stand from 57 balls. The partnership ended when Iftikhar departed after scoring a 31-ball 53 with four fours and four sixes. Omair soon followed Iftikhar after an entertaining 36-ball 67 with seven fours and three sixes. Umar Akmal scored 28 from 10 balls with two fours and three sixes, while Qais Ahmed and Naveen-ul-Haq also had some fun, scoring 17 each from seven balls apiece.

Abbas Afridi took wickets of Muhammad Nawaz, Umaid Asif and Umar Akmal off his successive balls to become the fifth bowler in HBL PSL to claim a hat-trick after Mohammad Amir, Junaid Khan, Imran Tahir and Mohammad Sami. He had earlier dismissed Mohammad Hafeez and Iftikhar Ahmed to finish with figures of 4-0-47-5. While Abbas Afridi (22) snatched the Fazal Mahmood cap for leading wicket-taker from team-mate Ihsanullah (20), Mohammad Rizwan has retained the Hanif Mohammad Cap for leading run-scorer. Rizwan has 483 runs from 10 matches, while Babar Azam has scored 416 runs from nine matches.

Scores in brief

Match 28 – Multan Sultans beat Quetta Gladiators by nine runs

Multan Sultans 262-3, 20 overs (Usman Khan 120, Mohammad Rizwan 55, Tim David 43 not out, Kieron Pollard 23 not out; Qais Ahmed 2-77, Mohammad Nawaz 1-50,)

Quetta Gladiators 253-8, 20 overs (Omair Bin Yousuf 67, Iftikhar Ahmed 53, Martin Guptill 37, Umar Akmal 28; Abbas Afridi 5-47, Ihsanullah 2-58)

Player of the match – Abbas Afridi (Multan Sultans)

Sunday’s fixtures Peshawar Zalmi vs Islamabad United, Pindi Cricket Stadium (2pm); Lahore Qalandars v Karachi Kings, Gaddafi Stadium (7pm).

For more information, contact:
Pakistan Super League (PSL)
Pakistan Super League Secretariat, Gaddafi Stadium,
Ferozepur Road, Lahore, Pakistan
Email: info@psl-t20.com
Website: http://www.psl-t20.com/