Category: Islamabad

Islamabad: The Institute of Regional Studies (IRS) organized a talk here on Thursday about China Pakistan Economic Corridor 2.0: Impact, Challenges and Opportunities featuring a thought-provoking address by Haroon Sharif, Founder and Chairman of Pakistan Regional economic Forum (PREF), and former Minister of State and Chairman of Pakistan's Board of Investment.

Sharif shared his extensive insights based on years of experience in international development and economic diplomacy. The presentation delved into the evolving dynamics of the China-Pakistan Economic Corridor (CPEC), its transformative impact on Pakistan's economy, and its future trajectory, said a press release.

The session was opened by Ambassador Jauhar Saleem, President of the (IRS), who called the CPEC a game changer for Pakistan for building a foundation for fostering robust partnerships and driving key infrastructure and energy projects. He highlighted the remarkable achievements of the initial phase of CPEC, which has attracted $25 billion in direct investment to Pakistan over the past 11 years. He further elaborated on the relocation of Chinese industries to Pakistan, stressing the critical role this will play in boosting Pakistan's industrial base. Additionally, Ambassador Saleem noted the potential of Pakistan's youthful population, particularly in the IT sector, which could become a major asset in the growing digital economy.

While providing a critical analysis of CPEC's impact, Mr. Haroon Sharif explained that many view CPEC as either a geopolitical shift or a massive infrastructure project, but in reality, it is an economic development approach based on connectivity. He stressed on understanding the concept of corridor which implies a connection between economic hubs in which large amount of economic resources and actors are concentrated along a defined geography.

Mr. Sharif argued that connectivity alone is not enough; it must be complemented by trade expansion and private sector participation. About the development of Special Economic Zones (SEZs) he underscored that merely setting up infrastructure is not enough-there must be a comprehensive policy framework, efficient governance, and adequate financing. Economic zones only thrive when there are joint ventures, investment-friendly policies, and structured governance models that attract investors. Mr. Sharif suggested overcoming the dependency mindset and adopt self-driven solution approach. Debt must be utilized to create productive assets. There was a consensus that Pakistan must transition from a debt-reliant model to private capital-driven economic activity.

He argued that real economic progress will not come from government-to-government (G2G) agreements alone but from a market-driven approach where private investors and businesses lead. Pakistan must create an economic environment that attracts sustainable investment. People need to take ownership which will also help address the security challenges. Mr. Haroon suggested evidence-based policies by addressing the institutional and knowledge gaps and building financial institutions to support industrial growth. The importance of de-risking investments was also highlighted, particularly in areas like security, policy stability, exit strategies, and judicial clarity. One solution proposed was multi-country joint ventures involving China, Pakistan, and Saudi Arabia, as well as corporate governance models that offer exit options to investors to make Pakistan a more attractive investment destination.

The discussion was concluded with a suggestion to shift from input-driven policies to outcome-based strategies, ensuring the economic zones become productive. The key takeaway was that Pakistan must not repeat past mistakes but instead adopt a proactive, production oriented and market-driven approach to economic transformation.

The session, moderated by Ms. Nabila Jaffer, Research Analyst for the China Program, brought together a diverse audience, including researchers, scholars, diplomats, and students. The hybrid session saw participation from universities, with many joining virtually via Zoom.

There was a consensus on continued collaboration between China, Pakistan, and other regional partners to unlock the full potential of CPEC 2.0, ensuring it becomes a lasting engine of economic prosperity for Pakistan.

Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with the National Energy Efficiency and Conservation Authority (NEECA) hosted a key awareness session titled 'Electric Vehicle Charging Infrastructure and Battery Swapping Regulations 2024' at the Chamber House.

The event saw a strong turnout from members of the business community, emphasizing the growing interest in the future of electric vehicles (EVs) and sustainable energy solutions in Pakistan, said a press release issued here on Thursday.

During the welcome address, Nasir Mansoor Qureshi, President of ICCI, underscored the Chamber's dedication to fostering a business-friendly environment that promotes entrepreneurship and economic growth. He also highlighted ICCI's role in bridging the gap between industry and academia, encouraging fresh graduates to take an entrepreneurial path rather than merely seeking jobs.

He stressed the need for Pakistan to embrace modern, sustainable practices in alignment with global trends, noting that effective collaboration between policy-makers, industry leaders, and stakeholders is crucial for the successful implementation of EV infrastructure regulations.

The collaboration between ICCI and NEECA marks a significant step towards fostering the development of electric vehicle infrastructure in Pakistan, paving the way for a more sustainable and eco-friendly future, he concluded.

Dr. Sardar Mohazzam, Managing Director of NEECA, delivered the keynote address, explaining the newly introduced regulations aimed at promoting the establishment of Electric Vehicle Charging Stations and Battery Swapping Stations nationwide.

These regulations are designed to accelerate the adoption of EVs in Pakistan by creating a streamlined, supportive ecosystem. Key features of the initiative include a one-window operation for ease of business, cost-effective electricity tariffs for EV charging, and the encouragement of public-private partnerships to expand the EV network.

Dr. Mohazzam also highlighted the importance of ensuring grid readiness, supporting small-scale enterprises, and contributing to Pakistan's emission reduction efforts.

Syed Ahsan Abbas, Director of Electrical NEECA, presented a detailed overview of the registration process, operational guidelines, and enforcement mechanisms related to the EV infrastructure. His presentation addressed the attendees' concerns, providing clarity on the regulations and how they will benefit investors and the broader business community.

In his remarks, Naeem Siddiqui, Special Advisor to the ICCI President, emphasized the need to build trust and confidence among potential investors, urging the relevant agencies to focus on addressing concerns and ensuring transparency.

The session concluded with an interactive question-and-answer segment, where organizers responded to queries from potential investors, ensuring a clear understanding of the new regulations and opportunities in the EV sector.

Abdul Rehman Siddiqui, Senior Vice President of ICCI, delivered the vote of thanks, expressing his optimism that the session would prove invaluable to investors and contribute to the growth of the EV ecosystem in Pakistan.

The session was also attended by ICCI Vice President Nasir Mehmood Chaudhry, Executive Members Waseem Chaudhry, Irfan Chaudhry, Malik Aqeel, Chaudhry Nadeem Ahmed, and other distinguished members of the Chamber.

Islamabad: Former Skipper Sarfaraz Ahmed believes Pakistan has a really good chance of defending the Champions Trophy title as the green-shirts have a strong team.

'Pakistan have a really good chance of defending that title and I think they have a strong team. Some of the boys from 2017 are still there and we're talking about some of the best - especially Babar Azam.

He is a different Babar to the one that played in 2017, a more mature player and a dominant player in the game. His batting will be so important for Pakistan and so will Fakhar Zaman's,' he said as quoted by ICC.

Ahmed said Shaheen Shah Afridi and Haris Rauf are brilliant bowlers and are playing well. The captain, Mohammad Rizwan, is also a wicketkeeper-batter, which worked pretty well for me back in 2017. There will be pressure. Pakistan being at home, being the defending champions, there will be high expectations, but the fans will get behind them.

If I had to pick four semi-finalists, I'd probably go for Pakistan, India, Australia and Afghanistan at this stage, but I would not rule anyone out, he said.

He said when Pakistan will play New Zealand in Karachi next week, it will mark the first senior ICC event held in our homeland since 1996 and to say we are bursting with excitement would be an understatement.

Ahmed said of the pool matches, everyone will be talking about Pakistan's match against India, and the game will be huge.

Whenever we meet, it is a special occasion and there is so much hype and pressure around it. But as players, you need to stay calm, try and block that noise out and just play with the same intensity as you would play Australia or any other team, he said.

He said in 2017, we played India in our first match and were soundly beaten by 124 runs. It was my first game as captain and we were poor in all areas. Afterwards, we had a great team meeting, and some of our senior guys - Shoaib Malik, Mohammad Hafeez - all said their piece. You need those types of characters around you.

Our head coach, Mickey Arthur, and I were so confident we would do well. We had come through a really tricky series against the West Indies, which was key for 2019 World Cup qualification, and were the bottom-ranked side in the tournament. We felt we had nothing to lose and so took as much pressure as we could away from the players, he said.

Islamabad: In wake of high influence of social and digital media, a significant change in wedding traditions had been observed in the country.

Due to increasing such influence, wedding culture had undergone a significant transformation in recent years with addition of many new trends.

Now this simple celebration had evolved into a lavish, week-long extravaganza, complete with multiple events and excessive spending.

The rise of new, elaborate traditions such as "Bride-to-Be" parties, Mehndi nights, and Dholki celebrations had

contributed to the shift mainly due to having such trends in tv dramas and showbiz personalities in social media.

These events, often characterized by lavish food, decorations, and entertainment, have become an integral part of Pakistani wedding culture.

According to wedding planners and industry experts, the average cost of a wedding in Pakistan has skyrocketed, with some families spending upwards of Rs five million on a single event.

Imtiaz Niazi a wedding planner said the wedding industry in Pakistan has become a multi-billion-rupee market as families willingly spend exorbitant amounts of money to make their wedding celebrations unforgettable not for just family members but for getting popularity and likes in social media apps like Facebook, Instagram and tiktok.

However, not everyone is pleased with the shift towards excess.

Still many families feel that emphasis on materialism and extravagance has overshadowed the true meaning of marriage.

"The focus should be on the union of two people, not on how much money we can spend on decorations and food,he stated,

Marriage Bureau head Mrs Khan said these excessive traditions have led to unnecessary expenses, with some families spending millions on a single event adding that this has created a culture of competition, where families feel pressured to outdo one another in terms of extravagance and opulence.

She said the emphasis on elaborate events, such as "Bride-to-Be" parties, Mehndi nights, and Dholki celebrations has shifted the focus away from the true essence of marriage.

She said, "It's time for us to reassess our priorities and return to the simplicity and elegance of our traditional wedding celebrations.".

Islamabad: The Ministry of Information Technology and Telecommunication (MoITT), through the Pakistan Software Export Board (PSEB), has established 43 Software Technology Parks (STPs) across the country, including in Tier-II and Tier-III cities.

These parks host over 350 IT and IT-enabled Services (ITeS) companies, employing 18,000 professionals across a combined covered area of 1.9 million square feet. Notably, 20% of the workforce in these STPs consists of women, said an official of the Ministry of IT.

These facilities, set up between FY 2022-24, are located in Islamabad, Lahore, Karachi, Gilgit, Rahim Yar Khan, Faisalabad, Swat, Quetta, Gujranwala, Sialkot, Abbottabad, Mansehra, Gujrat, Jamshoro, Nawabshah, Gakuch, Bahawalpur, and Khuzdar.

The STPs contribute significantly to Pakistan's economy, generating $100 million annually in foreign exchange earnings and $15 million in domestic revenue.To further enhance the country's ICT infrastructure, a state-of-the-art IT Park is under development in Karachi, covering 1.12 million square feet.

Expected to be operational by 2027, the $186 million project will create 13,400 jobs and is projected to boost IT exports by $90 million. Similarly, an IT Park in Islamabad, covering 720,000 square feet, is currently under construction. Scheduled for completion in 2025 at $88.4 million, it is expected to generate 7,500 jobs and increase IT exports by $70 million.

As part of its digital empowerment initiatives, the government plans to establish 250 e-Rozgaar centers across Pakistan over the next three years (by 2027) under the Public Sector Development Program (PSDP) project, 'Prime Minister's Initiatives-Support for Startups, Specialized IT Trainings, and Venture Capital.'

These centers aim to support 25,000 freelancers and entrepreneurs, generating an additional $18-20 million in revenue. In FY 2024-25, 50 e-Rozgaar centers are set to become operational.

Pakistan's first-ever Women Technology Park is being developed in collaboration with the Women's University in Bagh, Azad Jammu and Kashmir (AJK), and is expected to be operational in FY 2024-25.

The PSEB is also establishing an STP in Gilgit-Baltistan in strategic partnership with the Special Communications Organization (SCO) and the GB government. The government remains fully committed to supporting Pakistan's ICT industry and has launched multiple programs in consultation with industry stakeholders.

These initiatives include capacity-building programs for ICT professionals and IT companies, as well as international marketing efforts to enhance Pakistan's presence in global markets.

Islamabad: Chairperson of the Benazir Income Support Programme (BISP), Senator Rubina Khalid Thursday reaffirmed BISP's commitment to improve the well-being of vulnerable communities, particularly women.

She was speaking during a Roundtable Conference on Scaling Up Family Planning Vouchers in Pakistan.

The conference was organized by the Population Council and UK International Development to engage key public and private sector stakeholders from national and provincial levels in policy discussions aimed at expanding family planning voucher programs across Pakistan.

Speaking as the chief guest, Senator Rubina Khalid emphasized BISP's dedication to empowering underprivileged women through initiatives like Benazir Kafaalat, Taleemi Wazaif, and Nashonuma, which provide financial assistance for education, maternal health, and child nutrition.

She stressed the importance of enabling women to make informed choices about their education and healthcare.

Highlighting BISP's vast National Socio-Economic Registry (NSER), which contains data on over 38 million households, she stated that this database is crucial in supporting various social protection programs across provinces. She also noted that NSER data had been utilized for the pilot phase of the Family Planning Voucher Program to facilitate its implementation.

Discussing maternal and child health, she underscored the role of the Benazir Nashonuma initiative, which provides conditional cash assistance and nutritious food to pregnant and lactating mothers, as well as children under two years of age.

Senator Rubina Khalid urged parliamentarians to actively raise awareness about population growth and resource constraints, emphasizing that quality education and healthcare are fundamental rights of every child. She assured stakeholders of BISP's continued support for maternal and child health initiatives.

Other notable speakers at the event included Sindh's Provincial Minister for Health and Population Welfare, Dr Azra Fazal Pechuho; Vice Chairperson Punjab Social Protection Authority, Jahan Ara Wattoo; Country Director Population Council, Dr Zeba Sattar; and Ms. Joe Moir, Development Director (FCDO). They lauded BISP's role in using the NSER database to identify and support vulnerable women, ensuring their access to essential health and family planning services.

The roundtable concluded with a strong commitment from all stakeholders to collaborate on expanding family planning programs and strengthening maternal and child healthcare services across Pakistan.