Telecom Sector Enters New Era as PTCL Finalizes 100% Takeover of Telenor Pakistan and Orion Towers

PTCL Spreads Its Wings: A New Chapter for Pakistan's Digital Future

Karachi: Pakistan Telecommunication Company Limited (PTCL) today marks a defining moment in the evolution of Pakistan's telecom sector, as it formally completes the acquisition of 100 percent of the issued share capital of Telenor Pakistan and Orion Towers from 31st December 2025 onwards, ushering in a new era of digital enablement and transformation across the country.

Today onwards, Telenor Pakistan and Orion Towers will operate as 100% owned subsidiaries of PTCL, alongside Pak Telecom Mobile Limited (PTML) commonly known as Ufone 4G, and U Microfinance Bank. Telenor Pakistan will continue to operate as a separate legal entity during the transition period, following which PTML and Telenor Pakistan are planned to be integrated as merged entity (MergeCo) in due course of time, subject to regulatory approvals.

PTCL acknowledges the contribution of Telenor ASA to Pakistan's telecom landscape. As a competitor and industry peer, Telenor played a defining role in elevating service quality and expanding connectivity over nearly two decades. This milestone brings together complementary strengths to create a platform with a stronger focus on customer centricity, broader reach, and accelerated innovation.  In the future, the MergeCo will be positioned to expand network capabilities, optimize spectrum resources, and deliver seamless, secure, and digitally enabled services designed around evolving customer needs and aligned with Pakistan's digital ambitions.

Commenting on the occasion, Hatem Bamatraf, President & Chief Executive Officer, PTCL & Ufone 4G, said: "This is a proud moment for PTCL and a significant milestone for Pakistan's telecom sector. Our focus remains on delivering a customer-centric, seamless, and high-quality services for improvement in user experience as we bring combined strengths at scale upon completion of regulatory approvals". He further added, "I warmly welcome our colleagues and want to assure them that this transition is rooted in respect for people, continuity of talent, and thoughtful integration of industry best practices. Together, we will build a stronger, future-ready organization that serves customers better, empowers its people, and advances Pakistan's digital future."

With this milestone, we step into a future fueled by innovation, empowering businesses, and individuals alike. This union strengthens Pakistan's digital economy, connecting millions with superior technology and services. As we soar to new heights, our focus remains steadfast: delivering unmatched customer experiences and boosting digitalization across Pakistan.

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The Bank of Punjab Partners in Historic Launch of Pakistan’s First-Ever Skills Impact Bond

Islamabad – The Bank of Punjab (BOP), alongside the British Asian Trust (BAT) jointly acting as the Transaction Advisors and Program Managers (TAPM), is proud to announce the formal launch of the Pakistan Skills Impact Bond (PSIB)—a AAA-rated, Government of Pakistan (GoP)-backed, privately placed Term Finance Certificate (TFC) valued at PKR 1,000 million.

Developed under the visionary guidance of the Honorable Minister of Finance Mr. Muhammad Aurangzeb and the Honorable Minister of Education and Professional Training Dr. Khalid Maqbool Siddiqui, and in close collaboration with the National Vocational and Technical Training Commission (NAVTTC), the PSIB represents a paradigm shift in Pakistan's social impact financing landscape.

Under the leadership of Mr. Zafar Masud, President and CEO of The Bank of Punjab, BOP has played a pivotal role in structuring this innovative financial instrument. As a results-based "pay-for-success" model, the PSIB channels upfront investor funding into high-impact skills development programs, with outcome payments tied directly to independently verified measurable milestones, such as successful job placements and sustainable employment for thousands of Pakistani youth. This initiative leverages private sector efficiency to deploy PKR 1 billion in funding, closing the national skills gap, fostering economic participation, and enhancing women's inclusivity in the workforce.

The PSIB has received strong international endorsement, including a generous contribution from the Foreign, Commonwealth & Development Office (FCDO) as the International Developmental Partner, channeled through BAT via FCDO's Private Sector and Capital Markets Department. This support underscores the program's innovative potential to drive systemic change in skills development and employment, while boosting visibility among global funders and reducing design and management costs. FCDO also plans further assistance through its REMIT program, mobilizing UK-based Pakistani diaspora investors and featuring PSIB in upcoming promotion activities to expand engagement.

By shifting from traditional grant-dependent models to a performance-driven system, the PSIB redefines the intersection of banking and social development. It links investor returns to measurable socioeconomic outcomes, including elevated technical training standards, increased job placement rates, and long-term career stability.

As TAPM, BOP and BAT has overseen the inaugural PSIB issuance, creating a blueprint for future projects in high-priority sectors such as education, healthcare, women's empowerment, climate resilience, and national economic development. This reaffirms BOP's leadership in innovative finance and alignment with the Prime Minister's vision of a digital, skilled Pakistan.

Speaking at the launch ceremony in Islamabad, Mr. Zafar Masud stated: " Bank of Punjab has played the role of risk investor and underwriter, providing initial capital and assuming performance risk to enable this blended finance mechanism. This initiative marks a turning point—not merely a financial arrangement, but a deep commitment to Pakistan's economic stability and human capital development. it is a testament to how the banking sector can lead national transformation."

Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, also underscored the transformational importance of the PSIB in Pakistan's broader economic reform agenda and human capital strategy. He described the day as "an important moment focused on education and training," reiterating that Pakistan's demographic dividend can only be realized if the country succeeds in upskilling and reskilling its youth at scale

Earlier, Executive Director NAVTTC Muhammad Amir Jan described the PSIB as a defining moment in Pakistan's skills ecosystem, reflecting NAVTTC's evolution towards a transparent, outcome-based approach. Federal Minister for Education and Professional Training Dr. Khalid Maqbool Siddiqui also addressed the ceremony, describing the signing ceremony as a major step toward a better Pakistan and a better future. He also emphasized that Pakistan stands at a crossroads and coordination action from public and private sector are essential to meeting national challenges.

The Bank of Punjab extends deepest gratitude to the Ministry of Finance for the catalytic sovereign guarantee that enabled this pilot, establishing credibility for this new asset class. BOP also commends NAVTTC and its leadership for reforming the vocational landscape, as well as the Pakistan Credit Rating Agency (PACRA), Pak Oman Investment Company Limited (as Issue Agent), and Haidermota & Co. (as Transaction Legal Counsel) for their invaluable contributions.

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Public Demands Action Against JazzCash’s Aggressive Telemarketing

JazzCash Users Outraged Over Unwanted Insurance Calls

People are increasingly frustrated with the unsolicited calls from JazzCash, where representatives aggressively push insurance plans and other unnecessary services. Despite repeated complaints on social media, the issue continues without resolution.

One user reported receiving around 15 such calls in a single month. Annoyed, he requested the caller to remove his number from the list or at least mark it so he would not be contacted again after refusing the insurance offer. However, the calls did not stop.

Mobile users are now urging the Telecom Authority and other regulatory bodies to take strict action against JazzCash and implement measures to prevent such intrusive practices.

• Unsolicited calls: JazzCash users are receiving repeated unwanted calls.
• Aggressive promotion: Insurance plans and irrelevant services are being forced on customers.
• Public frustration: Complaints are flooding social media, but no action has been taken.
• User testimony: One customer received 15 calls in a month despite refusing offers.
• Regulatory demand: Citizens are calling on the Telecom Authority to intervene.

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Jubilee Life Insurance Partners with Karachi United to Strengthen Grassroot Football in Pakistan

Karachi: Jubilee Life Insurance, Pakistan's leading life insurer, has signed on as the Title Sponsor of the 21st Karachi United School Championship (KUSC). The collaboration reflects a shared commitment to nurturing young talent, promoting healthy lifestyles, and ensuring to strengthen a bottom-up approach for sports across the country.

Recognised as one of Karachi's longest-running and most inclusive school football tournaments, KUSC provides a structured platform for students from diverse backgrounds to engage in sport, develop discipline, teamwork, and confidence, and build lifelong healthy habits. Through this partnership, Jubilee Life aims to play a meaningful role in supporting youth development while encouraging physical activity from an early age. The partnership with Karachi United strengthens this commitment at the fundamental level, where sustained, long-term impact is created.

Mr. Farhan Faridi - Group Head Retail Operations, Marketing & Administration commenting on the collaboration: "At Jubilee Life, we view sport as a powerful enabler of physical well-being, social inclusion, and youth empowerment. This partnership with KUSC reflects our broader commitment to building healthier, more active communities across Pakistan. From supporting national platforms such as the HBL PSL, which are helping revive sporting culture and bringing international players back to Pakistani grounds, to investing in grassroot initiatives, our focus remains on creating sustainable, community-wide impact through sport."

Sharing his views on the partnership, Mr. Ali Atta Director Football said: "Karachi United has always believed in using football as a platform for inclusion and positive social change. This partnership with Jubilee Life strengthens our ability to provide opportunities for children from diverse income groups and backgrounds. As we look ahead, our ambition is to take the Karachi United School Championship to the national level, creating a pathway for young talent and expanding the tournament's impact across Pakistan."

Through this collaboration, Jubilee Life and Karachi United aim to create a sustainable ecosystem for school-level football by providing young athletes with access to structured competition, professional exposure, and long-term development opportunities. As the championship continues to grow, the partnership seeks to contribute to a stronger pipeline of talent while reinforcing the importance of sport in shaping confident, disciplined, and healthy future generations.

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Bangladesh Mourns Khaleda Zia, Nation’s First Female Prime Minister

BNP Leader Khaleda Zia Dies at 80 After Prolonged Illness

Bangladesh’s first female prime minister, Begum Khaleda Zia, passed away on Tuesday at the age of 80 after a prolonged illness, her party, the Bangladesh Nationalist Party (BNP), confirmed. Doctors said she had been battling advanced cirrhosis of the liver along with arthritis, diabetes, and heart and chest complications.

In a statement, the BNP described her as a “national leader” and announced her death at 6:00am, shortly after Fajr prayers. Interim leader Muhammad Yunus mourned her loss, calling her “a great guardian” whose leadership repeatedly freed the nation from undemocratic conditions. Former prime minister Sheikh Hasina, ousted last year, also offered prayers for Zia’s soul through a message shared by her banned Awami League party.

Despite years of ill health and imprisonment, Khaleda Zia had vowed as recently as November to contest the upcoming February 2026 elections, the first since the mass uprising that toppled Hasina. Her BNP is widely regarded as a frontrunner. However, her condition deteriorated in late November, leading to hospitalization where doctors could not reverse the decline.

Zia, jailed for corruption in 2018 under Hasina’s government, was barred from seeking medical treatment abroad. She was released last year following Hasina’s removal from power. In honor of her legacy, Bangladesh has declared three days of state mourning. Her funeral will be held Wednesday in front of parliament after midday prayers, with burial alongside her late husband, former president Ziaur Rahman. Interim leader Yunus has appealed for calm and discipline during the mourning period, urging citizens to show patience and unity while paying their respects.

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17,000 Homes and 38 Private Jets: The Extraordinary Wealth of King Rama X

 From Thousands of Homes to Private Jets: The Immense Wealth of Thailand’s King Rama X

Inside One of the World’s Richest Monarchies: King Rama X’s Luxury Empire

Homes, Jets, Yachts and Supercars: The Astonishing Assets of King Rama X

Thailand’s King Rama X is often portrayed as one of the wealthiest individuals on the planet, owning an estimated 17,000 homes, a fleet of 38 private jets, more than 300 luxury cars, and dozens of yachts. Following his consolidation of full control over the Crown Property Bureau, his personal fortune surged dramatically, with estimates ranging between $30 billion and $70 billion, placing him at the top of the global list of royal wealth.

Yet, despite the sheer scale of this royal fortune, comparisons increasingly highlight a striking contrast with modern industrial wealth—particularly that of India’s Anant Ambani. The comparison underscores a broader shift in how wealth is measured today, moving beyond physical assets such as land, palaces, and luxury collections toward stakes in global enterprises, recurring cash flows, market valuation, and scalable business models.

The distinction reflects two fundamentally different systems of wealth creation. One is legacy-driven, rooted in monarchy and accumulated over generations; the other is enterprise-led, built through corporate ownership and continuous expansion. The takeaway is clear: in the modern global economy, business empires have the capacity to surpass even the most powerful kingdoms in terms of financial influence and growth potential.

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PTA Prepares 5G Auction: Over 300 MHz Spectrum to Boost Internet Speeds Nationwide

The Government of Pakistan has announced February 2026 as the target month for the 5G spectrum auction, with plans to roll out 5G services within five to six months of its completion. The focus is on accelerating next‑generation mobile connectivity rather than maximizing short‑term revenue.  

According to official sources, the federal cabinet will finalize the auction model and base prices for six spectrum bands after reviewing recommendations from the Spectrum Advisory Committee, already endorsed by the Economic Coordination Committee (ECC). The Ministry of Information Technology has expedited preparations, and a summary has been submitted for cabinet approval, which may be granted in the next meeting or through circulation.  

Once approved, the Pakistan Telecommunication Authority (PTA) will issue the Information Memorandum, giving telecom companies 40–45 days to prepare. The auction is expected to conclude before 15 February 2026, as directed by the Prime Minister. It will be conducted transparently in the presence of media, with participation open to both local operators—Jazz, Ufone, and Zong—and international companies.  

Spectrum bands to be auctioned include 600 MHz, 700 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2600 MHz, and 3500 MHz. Of these, the 2600 MHz and 3500 MHz bands are prioritized for 5G rollout, with over 300 MHz of spectrum planned for auction. PTA officials note that each operator requires around 100 MHz to deliver quality 5G services. Consultants have advised keeping prices low, based on global benchmarks across 70 countries, to encourage investment in infrastructure rather than focusing on upfront revenue.  

Following the auction, 5G services will be launched in major cities including Islamabad, Lahore, and Karachi during 2026. The initial goal is to raise average internet speeds from 4 Mbps to 25 Mbps, with a five‑year target of achieving at least 100 Mbps nationwide. To meet these objectives, operators will be tasked with annual targets for tower installation and fiberization, ensuring improved network quality and sustainable 5G expansion across Pakistan.  

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FMP ​Ahsan Iqbal Chaudhary Launches Quaid-e-Azam’s 150th Anniversary Commemorations

Federal Minister Planning, Development & Special Initiative Prof Ahsan Iqbal Chaudhary Launches Quaid-e-Azam's 150th Anniversary Commemorations


ISLAMABAD: - A national tribute to Quaid-e-Azam Muhammad Ali Jinnah was held today by the Federal Minister for Planning, Development & Special Initiatives, Professor Ahsan Iqbal Chaudhary. It was the launch of Quaid's 150th birth anniversary celebrations at a grand and celebratory event held at the Jinnah Convention Centre, Islamabad.

The landmark ceremony brought together senior political leadership, renowned celebrities including Ahsan Khan and Sarwat Gilani, leading Quaid scholars, youth representatives, and members from diverse segments of society to reflect on the life, vision, and enduring legacy of the Founder of Pakistan.

The prestigious celebrations was also attended by Mr. Tariq Fatimi, Federal Minister for Information & Broadcasting Mr. Attaullah Tarar, and the Minister of State for Education Wajiha Qamar, alongside other dignitaries and senior officials.

Proceedings commenced with the recitation of the Holy Quran followed by the national anthem. After the welcome remarks, a specially curated documentary on Quaid-e-Azam was screened, highlighting key milestones of his life and leadership. The program further featured the inspiring "URAAN Pakistan" song and a moving "My Quaid" youth messages video, showcasing perspectives of young Pakistanis on Quaid-e-Azam's ideals.

A key segment of the event included interactive discussions with leading Quaid scholars, offering insights into Quaid-e-Azam's political foresight, constitutional vision, and principles of unity, faith, and discipline. Senior dignitaries presented Quaid's Vision Statements, emphasizing his relevance in addressing contemporary national challenges.

The ceremony also featured an address by the Honorable Minister for Information & Broadcasting Attaullah Tarar, who highlighted the role of media, education, and culture in keeping Quaid-e-Azam's message alive for future generations.

The event concluded with a keynote address by Professor Ahsan Iqbal Chaudhary, who formally announced the commencement of a year-long series of activities, dialogues, and national engagements dedicated to celebrating Quaid-e-Azam's 150th birth anniversary. He underscored the importance of translating Quaid-e-Azam's vision into practical national development, good governance, and inclusive progress.

The launch marks the beginning of a comprehensive national campaign aimed at honoring the Founder of the Nation and reinvigorating his ideals across Pakistan throughout the year.

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Triple Homicide in Remote Chitral: Man Kills Ex-Wife, Child, and Brother in Alleged "Honor" Attack

Tragedy and Transit Woes in Chitral: Three Dead in Arundo Shooting While Garam Chashma Road Remains Blocked

Police Hunt Fugitive After Triple Murder in Arundo; Residents Fume Over Delayed Road Repairs

Triple Murder in Arundo

CHITRAL – A horrific triple homicide has shaken the remote Arundo area of Drosh tehsil. Local sources report that a man, identified as Jalabib, allegedly opened fire on his family members in what is being described as a crime motivated by "honor."

The victims include the suspect’s ex-wife, their three-year-old daughter, and his brother, Ismail. After the shooting, the accused fled the scene and remains at large. Police have moved the bodies to a local hospital for postmortem examinations and have launched a targeted operation to apprehend Jalabib.

Infrastructure Crisis: Garam Chashma Road Remains Severed

While the community reels from the violence in Arundo, a major transportation crisis continues to isolate the region. The Garam Chashma-Chitral Road remains closed to all vehicular traffic following heavy rainfall and subsequent flooding.

Key Details of the Road Closure:

• Affected Areas: The stretch from Bhalpok to Shali is currently impassable.

• Current Status: Despite Rescue 1122 being on high alert, residents claim authorities have yet to take physical action to repair the damage caused by the September 18 storms.

• Public Impact: Commuters are being forced to cross damaged sections on foot to reach vehicles on the other side. This disruption is particularly severe given the high volume of tourists and ongoing residential development in the area.

Local residents have issued an urgent plea to the government to restore the connection, as the blockage continues to disconnect Garam Chashma from the rest of the district. Authorities advise the public to avoid unnecessary travel and use the 1122 helpline for emergencies.

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Buy Your Favorite TECNO Smartphone on Easy Installments at Qist Bazaar 2025

TECNO, a leading smartphone brand known for making innovative technology accessible for everyone, is part of Qist Bazaar 2025 at Expo Center Karachi, Hall No. 5. From 26–28 December 2025, visitors are experiencing the latest TECNO smartphones first-hand and purchasing their favorite devices on convenient installment plans, making advanced technology more accessible than ever.

Spark 40 Series Gaining Strong Youth Response

The recently launched SPARK 40 Series is receiving strong appreciation from young smartphone users across Pakistan. The lineup combines stylish design with premium features and powerful AI capabilities that enhance productivity, creativity, and everyday efficiency. With AI Studio, users are turning everyday photos into instantly share-ready images.

The series features 45W Fast Charging with a 5200mAh Long‑lasting Battery, delivering all‑day power in a slim and comfortable design. It also offers a 1.5K 3D Curved AMOLED Display, a smooth 144Hz Refresh Rate, and up to 4500nits Brightness.

The SPARK 40 Pro+ also supports 30W Magnetic Wireless Charging and is available at Qist Bazaar on 3, 6, 9, and 12‑month installment plans, with an advance starting from PKR 9,900.

Camon 40 Series Designed for Photography Enthusiasts

Earlier this year, TECNO introduced the CAMON 40 Series, designed for users who value both aesthetics and photography performance. With FlashSnap, AI Studio, an AMOLED display, and a premium trendy design, the series is attracting photography enthusiasts and style‑conscious users. At Qist Bazaar, customers are getting CAMON 40 Pro with an advance of PKR 15,900, followed by 12 monthly installments of PKR 6,500.

Wide Range of TECNO Smartphones Available

Alongside these hero models, visitors are also experiencing and purchasing Spark Go 2, Spark 40C, Spark 40, Spark 40 Pro and Camon 40 Pro — all available on easy installment plans at the TECNO booth.

Making Premium Technology Easier to Own

Through Qist Bazaar 2025, TECNO is making advanced smartphone technology easier to own for everyone. Customers are visiting Expo Center Karachi, Hall No. 5, exploring the lineup, testing devices, and choosing installment options that match their lifestyle and budget.

TECNO believes that innovative, high‑quality smartphones should be accessible to everyone, and Qist Bazaar 2025 is another step toward making premium technology simpler, smarter, and more affordable across Pakistan.
Visit the TECNO booth at Qist Bazaar to avail exciting installment offers. For more product information, please visit TECNO's official website: https://www.tecno-mobile.com/pak/

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Child Injured in Madrasa Attack, Teacher’s Husband Arrested in Upper Chitral

Violence in Torkhow Madrasa: Pen Attack Leaves Child Critical

Community Demands Justice After Child Hurt in Madrasa Incident

A tragic incident has been reported from Bozand, Torkhow in Upper Chitral. At a madrasa run under the Jamiat Taleem-ul-Quran Trust, a young child was subjected to violence. Normally, a woman from Washich would come to teach the children the Holy Quran, but in her absence, her husband, Sartaj Al Abideen, took over the teaching duties.

During the class, Sartaj Al Abideen became enraged when a child laughed or spoke. In anger, he threw a sharp-tipped pen/ballpoint directly at the child, striking his eye. The child was severely injured and lost consciousness. According to eyewitness children, the act appeared deliberate.

Tragically, instead of rushing the child to the hospital, the accused locked the madrasa door and fled. Hearing the commotion, locals broke open the door and rushed the child first to Shagram, then Booni, and later to Chitral Hospital. Due to his critical condition, he was referred to Peshawar.

Police were immediately informed, and Torkhow police acted swiftly, arresting the suspect before he could escape. The community has expressed gratitude to the police for their timely action.

Local residents demand that the accused be brought to justice and that the injured child and his family receive full support. They also urge authorities to ensure stricter laws so that husbands are not allowed to substitute for their wives in madrasa teaching duties, preventing such tragedies in the future.

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Sonraj Group Honors Its Legacy While Shaping the Future of Luxury in Pakistan

Pakistan: - Sonraj Group, Pakistan's leading luxury retail and horology house, hosted its 3rd annual year-end breakfast in Karachi, bringing together team members from across the country, former colleagues, senior professionals from the business community, members of the banking sector, industry partners, and distinguished guests.

The official event celebrating a year of transformation, revival, and renewed commitment to the values that define Sonraj, commenced with the recitation of the Holy Quran, followed by the national anthem. Renowned showbiz personality Mr. Behroze Sabzwari formally opened the proceedings by introducing Sonraj's Chief Executive Officer, Mr. Rameez Sattar, and spoke about their decades-long association while commending Sonraj's remarkable journey. He highlighted the company's resilience, strong teamwork, and the respect it commands both locally and internationally. He also acknowledged Sonraj's role in bringing leading global watch brands to Pakistan while maintaining credibility, consistency, and ethical standards through challenging times. Mr. Sabzwari concluded his remarks by inviting Mr. Rameez Sattar to the stage, describing him as the driving force behind Sonraj's journey and success, prompting a standing ovation from the audience.

In his keynote address, Mr. Rameez Sattar reflected on Sonraj's evolution, rooted in the vision of its founder and his father, Mr. Abdul Sattar Memon. He emphasized the company's commitment to trust, ethics, craftsmanship, and long-term relationships. He spoke about Sonraj's growth from a single-person operation into a professionally managed family enterprise, supported by strong leadership across retail, distribution, human resources, marketing, and creative functions. He acknowledged the contributions of his brother Shakeeb Sattar, his sons Arbaaz and Maaz, and long-time associates including Umair Abbasi, Raman Sidhu, Tommy Lau, Mark Izatt, and Pir Ijlal.

Highlighting key milestones from the past year, Mr. Sattar shared updates on the launch of Sonraj's luxury promenade at Dolmen Mall Karachi, the expansion of Gharyal.com, and the development of new verticals across watches, fragrances, eyewear, and pre-owned timepieces. He also underscored Sonraj's continued focus on youth training and skills development, including the revival of professional watchmaking heritage in Pakistan through Sonraj's internal training center, led by experts including Aslam Sultan, Amjad Sahib, and Arif Sahib, as well as the training of the country's first female watchmaker of the present time Saira Akram.

"Sonraj is not just a company - it is a legacy," expressed Mr. Rameez Sattar, "with our brands, our youth initiatives, our revival of professional watchmaking, and our new projects, we are laying the foundation for a future where Pakistan stands proudly in the global luxury industry. From day one, Sonraj has remained firmly committed to representing only those brands for which it holds official authorization - a principle that reflects our unwavering focus on trust, transparency, and long-term credibility."

 

Lastly, Mr. Sattar highlighted his deep emotional connection to Karachi, emphasizing the belief that the city's heritage is one of its greatest assets, and that is the reason Sonraj is now developing a heritage site on Zaibunnisa Street into a concept store, a project of profound personal significance that represents a return to the company's roots and a reconnection with the true spirit of Saddar through culture, memory, art, and craftsmanship. He expressed hope that the space will help revive the essence of Karachi as it once was - familiar, honest, and human - serving as a place where history and luxury meet, standing as a tribute to the city and to the values that define Sonraj.

Speaking on the occasion, Sonraj's Creative Director Mr. Hasnain Lehri talked about Sonraj's global recognition and standing is the strength of its teams, and the company's commitment to inclusion, particularly the increasing participation of women across sales and creative roles. He credited the leadership's hands-on approach for fostering a culture that continues to nurture talent and ambition.

Sonraj Group recognized its star team members and partners for their contributions and awarded them during the event for being an integral part of their journey. The event concluded with remarks from Chief Operating Officer Mr. Ali Naveed Akbar, who outlined Sonraj's future direction, emphasizing the responsibility of safeguarding the company's legacy while building careers, skills, and pride through ethical business practices.

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Meezan Bank Advances Shariah-Compliant Corporate Practices Through Advisory Support to SIL

Karachi -  Meezan Bank, Pakistan's leading Islamic bank and one of the largest banks in the country, has provided Shariah Technical Services and Advisory Support to Stylers International Limited (SIL), a company listed at Pakistan Stock Exchange (PSX), enabling it to obtain Securities and Exchange Commission of Pakistan's (SECP) Shariah Compliance Certificate under the Shariah Governance Regulations, 2023 (SGR). This milestone places SIL among a select group of PSX-listed companies certified as Shariah-compliant.

 

Through its Shariah Advisory Unit, Meezan Bank reviewed and aligned SIL's constitutive documents, internal policies and operational frameworks in accordance with the requirements of the SGR. The review covered key functional areas, including human resources, finance, operations, marketing, procurement, and corporate governance, ensuring comprehensive adherence to Shariah-compliant practices.

 

The Bank also conducted a Shariah screening of SIL's audited financial statements for the year ended June 30, 2025, confirming nil exposure to interest-bearing debt, Shariah non-compliant investments, and impermissible income.

 

Currently, Meezan Bank is acting as SIL's Shariah compliance function, providing ongoing support through continuous Shariah monitoring, periodic compliance reviews, day-to-day advisory on business operations and capacity-building initiatives including structured training programs. This engagement is designed to ensure sustainability and effectiveness of SIL's  Shariah-compliance framework across all areas of its operations.

 

Syed Tariq Ali, Head of Investment Banking & Shariah Advisory at Meezan Bank, said: "Meezan Bank is pleased to have supported Stylers International Limited in obtaining Shariah compliance certification from the SECP. This collaboration reflects the Bank's commitment to advancing Shariah-compliant corporate practices in Pakistan and supporting listed companies in adopting robust, transparent Shariah governance frameworks that contribute to the sustainable growth of Islamic finance. "

Also read: Standard Chartered Bank and British Deputy High Commission celebrate Independence Day

 

Javed Arshad Bhatti, Chairman/ Director at Stylers International Limited, added: "Alhamdulillah, it is with deep humility and gratitude that I share a milestone very close to my heart, Stylers International Limited (SIL) has been accredited as Shariah Compliant by the SECP under the SGR. This places SIL among a select group of listed companies in Pakistan that are aligned with Shariah principles; a responsibility we embrace with sincerity and purpose.

 

For me and everyone at SIL, Shariah compliance is not just a requirement; it is a guiding beacon for lasting success. In partnership with Meezan Bank, this accreditation strengthens our resolve to uphold ethical, transparent and faith-aligned practices in every aspect of our work.

 

This recognition is truly a reflection of our team's dedication, hard work and shared belief that barakah comes from walking the right path. May Allah allow us to build on this foundation with integrity and excellence."

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Data Vault, National Centre for Physics sign MoU to advance Pakistan’s sovereign AI and advanced Computing Future

Data Vault, National Centre for Physics sign MoU to advance Pakistan's sovereign AI and advanced Computing Future

 

KARACHI: Data Vault Pakistan and the Centre of Excellence Artificial Intelligence Technology Center (CoE AITeC) at the National Centre for Physics (NCP) have signed a strategic Memorandum of Understanding (MoU) to accelerate Pakistan's sovereign artificial intelligence, high-performance computing, and advanced research capabilities.

The MoU establishes a long-term collaboration framework focused on indigenous AI development, GPU-accelerated computing, cloud and edge AI services, and national-scale research enablement, aligning Pakistan's leading scientific institutions with locally hosted, secure, and enterprise-grade AI infrastructure.

This collaboration marks an important milestone in strengthening national AI capacity within Pakistan, ensuring that advanced research, sensitive datasets, and mission-critical workloads are processed on sovereign infrastructure, while supporting the country's broader objectives of technological self-reliance, digital sovereignty, and innovation-led economic growth.

 

Scope and National Impact

 

Under the framework of the MoU, the two institutions will cooperate in:

•             Advanced artificial intelligence research and applied innovation

•             GPU-based compute access for academia and government

•             Training and capacity building on data-center-grade AI infrastructure

•             Cloud services and edge AI deployments

•             Joint participation in government and strategic technology initiatives

•             Joint R&D programs and technology pilots

•             Facilitated access to high-performance NVIDIA GPU platforms

•             Rack co-location and compute resource optimization

The agreement also enables structured collaboration on government tenders and national projects, where infrastructure provisioning, AI platforms, and compute acceleration can be delivered through coordinated efforts.

 

Technology Demonstration and Facility Visit

 

During the MoU signing, the NCP and CoE AITeC AI teams toured Data Vault Pakistan's AI-optimized data center facilities, including its GPU-as-a-Service cloud platform and Zahanat AI, Pakistan's indigenous large-language-model initiative.

The visit provided firsthand exposure to production-grade AI infrastructure, high-density GPU environments, and locally hosted AI platforms designed for research, government, and enterprise workloads. The demonstration highlighted Pakistan's growing capability to design, host, and operate advanced AI systems domestically, reducing reliance on offshore infrastructure.

 

Strengthening Pakistan's AI Ecosystem

 

The MoU emphasizes:

•             Development of indigenous expertise in artificial intelligence and advanced computing

•             Human capital growth, including training of researchers, students, and young officers

•             Secure research environments for civil, commercial, and sensitive national projects

•             Translation of research into deployable, production-grade AI systems

Joint working mechanisms will be established to identify priority projects, form cross-functional teams, seek funding opportunities, and oversee implementation in line with national laws and institutional policies.

 

Delegations Present at the MoU Signing

National Centre for Physics (NCP) and CoE AITeC Delegation

•             Dr. Qaisar Ahsan – Director General, National Centre for Physics

•             Mr. Nadeem Ahmed – Director General, Centre of Excellence Artificial Intelligence Technology Center (CoE AITeC)

•             Dr. Syed Khursheed Hasnain – Director, CoE AITeC

•             Dr. Fayyaz Ahmed – Deputy Director, CoE AITeC

Data Vault Pakistan Delegation

•             Ms. Mehwish Salman Ali – Founder & Chief Executive Officer

•             Mr. Syed Zeeshan Ali – Co-Founder & Chief Operating Officer

•             Mr. Mujtaba Hassan – Manager, AI Innovations

 

A Long-Term Strategic Framework

 

The MoU will remain in effect for an initial period of five years, with provisions for extension by mutual consent. It provides a scalable and sustainable collaboration model between national research institutions and sovereign AI infrastructure providers, reinforcing Pakistan's ambition to emerge as a regional hub for artificial intelligence, scientific computing, and digital innovation.

The agreement was formally signed in Islamabad between Data Vault Pakistan and the National Centre for Physics, marking a decisive step toward a future where Pakistan's AI research, innovation, and compute power are developed, hosted, and scaled within the country.

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