COMPANY NEWS

Published November 28, 2022

Iron deficiency-free Pakistan by Matrix Pharma

In view of ‘World Iron Deficiency Day’, Matrix Pharma took the lead for the advocacy and awareness of iron deficiency in Pakistan, according to a press release. The aim is to educate people about the importance of iron for the body and what can happen if iron levels are not properly managed. In a press conference held at Karachi Press Club, it was elaborated that Iron Deficiency Day 2022 encourages people at risk to listen to their body, to take iron seriously and to take control of their health by seeking early diagnosis and medical help from their physician. Product manager Dr Atia Tariq led the proceedings and explained that anaemia is a major health problem globally as well as in Pakistan, affecting 41.7pc of women of reproductive age and 53.1pc of children.

OGDCL educating village children

The Oil and Gas Development Company Limited (OGDCL) launched the Mashal-e-Elm programme for out-of-school children of village Chappri in district Attock, according to a press release. A memorandum of understanding was signed between Vision-21 Global and OGDCL to launch the education program at the cost of Rs29.82m. Under the initiative, quality education will be provided to the children of village Chappri through a speed literacy programme for primary, middle and matric levels. The programme will be four years, including six months of a skill development programme.

Appointment of TDAP head

On the appointment of Muhammad Zubair Motiwala as the chief executive of the Trade Development Authority of Pakistan (TDAP), prominent business community members greeted Mr Motiwala at TDAP headquarters on 21st November and presented flowers, according to a press release. The business community expressed their pleasure and welcomed the appointment of Mr Motiwala and discussed the way forward to enhance the overall national exports of the country. The business community assured their full support and cooperation and pledged joint efforts in resolving issues.

Promoting Islamic housing finance

Meezan Bank, Pakistan’s leading Islamic bank and Pakistan Mortgage Refinance Company (PMRC), a mortgage liquidity facility set up by the State Bank of Pakistan, have recently inked a Master Musharakah agreement to support and promote affordable housing finance in the country. Under this agreement, PMRC will provide five years of fixed-rate concessional funds to Meezan Bank, providing much-needed support across the housing value chain. With the acquisition of funds worth Rs5bn, Meezan Bank aims to ultimately improve access to affordable, Shariah-compliant housing finance in Pakistan through better and more affordable rates, according to a press release.

Mangrove plantation by Soneri Bank

Marketing and green banking departments organised a plantation drive for Soneri Bank employees in collaboration with WWF Pakistan in which 130 employees participated in a mangrove plantation drive at Turtle Beach Karachi, followed by lunch and a group activity session. The initiative brought together Soneri Bank employees from various units and engaged them in taking steps to improve the environment through volunteer tree plantation, according to a press release.

A fruitful partnership

According to a press release, Hilal Foods, a leading confectionary manufacturing company in Pakistan, has partnered with Colony Foods UAE to enhance its presence in the Middle East region. Hilal Foods has a legacy of over 65 years in manufacturing a wide range of confectionery, baking items, and beverages. The company has built a strong business relationship with customers in over 25 countries, including the USA, Europe, Canada, and Australia, for over 15 years. Colony Foods has over 3,000 merchants across the UAE and is continuing to grow its presence.

KE’s support of BRT

A meeting was held at Commissioner Karachi’s office inviting CEO K-Electric and team as well as the Government of Sindh’s Secretary of Transport to discuss how to push the BRT project on a fast track basis, according to a press release. The Government of Sindh representatives and Commissioner Karachi assured their complete support to the utility. Both teams discussed and agreed upon the technical and financial modalities of the project as well. During the meeting, which occurred in a cordial environment, CEO K-Electric also shared the efforts made by the utility to bring the BRT Line project operational at its earliest.

Published in Dawn, The Business and Finance Weekly, November 28th, 2022

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