Faysal Bank, Total Parco provide cashless transactions

Faysal Bank Limited and Total Parco signed an agreement to provide cashless transactions across Total Parco’s extensive retail network, as per a press release.

Through this alliance, Faysal Bank’s state-of-the-art point-of-sale card acceptance solution will provide Total Parco’s customers the ability to make payments via cards and NFC solutions.

Commenting on the partnership, Yousaf Hussain, President & CEO of Faysal Bank, stated, “At Faysal Bank, we are privileged to have a multi-faceted relationship with Total Parco. This arrangement with Total Parco is a testament to our agenda to increase the acceptance and digital footprint across the country through Faysal Bank’s Shariah-compliant financial solutions.”

Speaking at the occasion, Asif Iqbal, CEO of Total Parco, said, “At Total Parco, we acknowledge the needs of our customers and the changing trends in their preferences. Hence this partnership with Faysal Bank will further our resolve in addressing the needs of our diverse customer base.”

Fertiliser convention

Pakistan’s leading fertiliser companiesorganised a dealers’ convention last week at Flatties Hotel, Lahore, as per a press release. The convention was arranged to apprise the dealers about the availability of fertilisers and the import of urea by the government. It was also to devise a strategy to ensure the availability of urea and other fertilisers as per suggested company prices.

The management of fertiliser companies informed the dealers that companies are making all-out efforts to produce fertilisers as per the capacity of manufacturing plants. In the meantime, the government is also very serious and active in ensuring the availability and supply of fertilisers to farmers all over the country at control rates. The government has taken the initiative of importing urea to make up for the shortage and ensure its smooth availability.

Shell conducts eye camps with LRBT

Shell Pakistan Limited (SPL) organised an eye camp for mechanics in partnership with Layton Rahmatulla Benevolent Trust (LRBT). The mechanics were provided free eye screening to ensure healthy eyesight, as per a press release.

As part of its community outreach program, SPL, in collaboration with LRBT, has been providing eye testing to community members. The Chief Executive and Managing Director of Shell Pakistan Limited, Waqar Siddiqui, said: “We aim to be a good neighbour wherever we work by contributing to the well-being of our communities. Shell’s social performance programmes enable us to share economic development benefits with communities while creating a sustainable business environment.”

A team of ophthalmologists and support staff from LRBT conducts these eye tests and dispenses medicine for eye ailments. If further treatment is required, patients are referred to the nearest LRBT hospital, where they receive additional free treatment.

Shell invests in the communities where it operates. Investment in local communities is tailored to the community’s needs and aligned with Shell’s business objectives.

Austrian ambassador visits OICCI

Ambassador of Austria to Pakistan and Afghanistan Andrea Wicke, Hussain Islam, Chairman of the Prime Minister’s Task Force in the Strategic Reforms Unit, and Johannes Brunner, Commercial Counsellor of the Austrian Embassy Commercial Section, visited the Overseas Investors Chamber of Commerce and Industry (OICCI) to engage with the Chamber’s leadership and gain insights into Pakistan’s economic landscape, according to a press release.

During the meeting, OICCI CE/Secretary General M Abdul Aleem provided a comprehensive briefing to the Austrian delegation on Pakistan’s business prospects, focusing on attracting foreign direct investment for it to reach three per cent of GDP ideally.

Notably, the total capital investment by OICCI members from FY13 to FY22 amounted to $22bn, while Pakistan’s net FDI stands at $19.9bn. In the past year (Jan-Dec), Pakistan attracted $1.77bn in FDI, marking a 25pc increase from 2022.

Ambassador Wicke shared her insights on how Pakistan is perceived globally in terms of investment, emphasising regional trade, particularly the potential within the South Asian Association for Regional Cooperation (Saarc).

She stressed the importance of building a positive perception of Pakistan through engagement with foreign media to showcase the country’s overall beauty.

Published in Dawn, The Business and Finance Weekly, February 5th, 2024