Economic insights roadshow

According to a press release, Habibmetro organised its Economic Insights Treasury roadshow, ‘Changing Dynamics of Pakistan’s Economy Amidst a Global Perspective,’ with informative sessions held in Faisalabad, Multan, and Lahore.

The seminars aimed to assist key trade industry professionals and decision-makers in addressing economic challenges and provided a platform for discussing Pakistan’s economic recovery within the global trade context.

“With this roadshow, we aim to equip our clients with expert insights, enrich their understanding of the evolving economic landscape, and foster constructive dialogue,” said Khurram Shahzad Khan, President and CEO of Habibmetro.

Combating breast cancer

According to a press release, Meezan Bank joined hands with Roche Pakistan in an initiative aimed at alleviating the financial burden of breast cancer treatment for patients across Pakistan.

This sponsorship aims to offer the finest medical services to breast cancer patients and educate individuals on navigating financial obstacles and accessing treatment seamlessly, ensuring a hassle-free experience.

Through collaboration with Roche Pakistan, the Bank enables access to essential breast cancer treatment, ensuring that financial constraints do not hinder patients from receiving crucial care.

Oil and gas production enhanced

Oil and Gas Development Company Limited (OGDCL) has announced in a press release that a significant production enhancement at Nashpa Well-10 in the Karak District of the Khyber Pakhtunkhwa is part of its production enhancement campaign.

Through a production enhancement strategy, OGDCL has implemented rigless intervention techniques in various formations, significantly increasing hydrocarbon production.

With the successful optimisation, the cumulative production from the well now stands at 1870 barrels of oil per day and 7.02 million standard cubic feet per day of gas. The extracted gas is injected into the Sui Northern Gas Pipelines Limited network. The Nashpa-10 production is projected to save $30.7m annually in foreign exchange or the country.

SLIC announces special bonus

As per a press release, the State Life Insurance Corporation of Pakistan (SLIC) is celebrating its 2023 financial performance via a State Life Khushali Bonus - a special one-time profit bonus of Rs10 billion for all with profit-participating policies in force as of December 31, 2023. This bonus adds to the 2023 Annual Profit Bonus allocation of Rs109.7bn, bringing the Total Annual Profit Bonus to Rs119.7bn, marking a 23 per cent increase compared to 2022.

In addition to the policyholder benefits, SLIC announced a Special Cash Dividend of Rs0.5bn, which was disbursed to its shareholder, the Government of Pakistan (GoP).

Providing Islamic life insurance

Salaam Takaful Limited announces the development of a digital-only Islamic Life Insurance company.

Akif Saeed, Chairman of the Securities and Exchange Commission of Pakistan (SECP), gave the license to Rizwan Hussain, the Managing Director and CEO of Salaam Family Takaful Limited. It will provide complete end-to-end digital offerings per the stipulations and guidelines of SECP.

On the occasion, Mr Hussain stated, “We will be revealing a new brand very soon, which will not only resonate with our values but will also introduce the much-needed game-changing Islamic Life Insurance and Savings offering, which we have done extensive work in developing.”

Al Baraka hosts webinar

According to a press release, Al Baraka Bank, Pakistan, organised the 2nd Webinar for Al Baraka Group (ABG) Inter-Franchise Collaboration and Launch of the Trade Portal, this time with Al Baraka Bank Egypt.

The webinar focused on enhancing Pakistan’s exports by connecting Pakis­tani exporters with Egyptian importers to facilitate the diversification of Pakis­tan’s exports to non-traditional markets.

Houssem Ben Haj Amor, the CEO of Al Baraka Group (ABG), chaired the webinar and thanked Al Baraka Pakis­tan for its arrangement. ABG plans to replicate this with subsidiaries of Al Baraka Group in Turkey, Bahrain, Algeria, Jordan, and Tunisia in 2024 and 2025.”

Published in Dawn, The Business and Finance Weekly, May 20th, 2024