Author: Sohail Shahid

To promote electric vehicle industry (EVs), the government of Pakistan has some subsidies to offer through its newly announced budget. Initially, it was decided that the prices of vehicles up to 850cc will be going down because of enormous tax exemptions. Now, the government has prolonged the tax relief for cars up to 1000cc. It is all about electric cars now in Pakistan. There will be no registration fee and tax on motor vehicles which are two-wheeler, three-wheeler, and heavy commercial electric vehicles (EVs). The public will have to wait for the new Auto Development Policy and EV policy for…

As per a report shared by McKinsey, a burgeoning start-up environment and promising business climate in Pakistan have created the perfect conditions for entrepreneurs to succeed.  Pakistan is well-positioned with technology and innovation to drive economic growth. Plus the local startup community has enough potential to create a global footmark as they benefit from CPEC technology investments in Pakistan. The government also needs to focus on providing enabling policies to foster and grow the tech ecosystem in Pakistan.  CPEC will be a game-changer for Pakistan that will not only improve the economy but will also create jobs and help grow…

In compliance with modern plus revolutionary trends and technologies, GIKI’s Faculty of Computer Science and Engineering became a pioneering university to launch BS Data Science for the first time at GIK Institute, accredited by National Computing Education Accreditation Council, Pakistan. And now various companies are contacting GIK for collaboration. Data Science is an advanced field of study nowadays widely used in advanced economies for informed decision-making and other purposes using mathematically rooted models. Moreover, the philosophy of starting Data Science as one of the key future programs has been appreciated globally. And therefore, the Indian Institute of Technology has newly…

Chief of Army Staff (COAS) General Qamar Javed Bajwa, on Wednesday, admired the role of business community in economic uplift of Pakistan and reaffirmed army’s complete support, says an official statement issued by Inter Services Public Relations (ISPR). General Qamar Javed Bajwa, made this guarantee during a meeting with businessmen who called on him at the General Headquarters today, as per statement by the military’s media affairs wing. A deputation of the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and the army chief discussed the “evolving regional economic environment” as well as the FPCCI’s role in the development…

The China-Pakistan Economic Corridor (CPEC) is now officially in its second phase of development, despite speculations that work on the $62 billion connectivity project had slowed down. Last week, the Rashakai Special Economic Zone (SEZ) in Khyber Pakhtunkhwa was rolled out, kicking off phase II of CPEC. The Rashakai zone, located close to Nowshera, is one of the nine special economic zones to be established under the CPEC between 2017 and 2030. The Rashakai zone will be spread over 1,000 acres of land and for it China’s Century Steel Pvt. Ltd. is also relocating to Pakistan. Khyber Pakhtunkhwa’s Industrial Policy…

Registration of companies with the Securities and Exchange Commission of Pakistan (SECP) more than doubled in May compared to the same month last year. As many as 1,597 new companies registered in May, the SECP shared this on Friday. “This is for the second consecutive month that over 100% growth in the incorporation of new companies is being witnessed. The trend of growth is credited to digitalization/automation, the introduction of simplified combined processes for name reservation and incorporation, and facilitation extended by the SECP’s newly established business centre,” the SECP said in a statement. As many as 143,416 businesses are…

Viper Technology, an evolving name in Pakistan’s PC business, has launched the long-awaited Viper P40 Notebook. Interestingly, Viper P40 is a locally manufactured computer with a feature-fit spec-sheet and a remarkable price-tag for all “Tech lovers.” Moreover, the Viper P40 lineup features a 10th Gen Intel Core i3-1005G1 processor, a big 5,000mAh battery for enhanced productivity, and a design that matches the 2021 aesthetic. Build and Display: Starting off with the design, the Viper P40 laptop has a moderate 24mm chassis with a lightweight body, weighing 1.7kg, giving it a rugged feel since the finishing is all matte and rough.…

Twitter’s new subscription service will give users up to a 30-second window after publishing to change their minds. Twitter, a social networking site, has unveiled its long-awaited subscription service named as Twitter Blue. And this paid service allows customers to access exclusive features like the ability to undo a tweet in exchange for a monthly fee. As per Bloomberg reports, “Twitter Blue, a new paid offering will sell for $2.99 a month, and will help Twitter diversify its business at a time when the pandemic has highlighted the risks of a heavy reliance on digital advertising.” Sara Beykpour, the new…

The Special Technology Zones Authority (STZA) and Rapidev DMCC signed a Memorandum of Understanding (MoU) to establish a Technology Park in Pakistan’s first Special Technology Zone (STZ) in Islamabad, a state-of-the-art development that will serve two common purposes: building a technology-drive Pakistan and create thousands of jobs. The signing ceremony was held in Islamabad and attended by members of both the organizations, technology sector professionals, and government officials. As per the MoU, both the two organizations will work together to reach high-tech industrial growth, create job opportunities, upskill the youth, and invite Foreign Direct Investments (FDI) through the development of…

HBL becomes the pioneer bank of Pakistan to invest in a digital fintech startup with its Rs.176 Million (USD 1.15 Million) participation in the last tranche of FINJA’s Rs.1.56 billion (USD10.15 Million) Series A1 round.  Also, HBL joins an impressive list of leading global fintech funds invested in FINJA, including BeeNext, Vostok Emerging Finance, Quona Capital, and ICU Ventures. All investors from previous rounds topped up their investment in FINJA’s Series A1 round. For HBL, an investment in FINJA follows two of the bank’s strategic priorities. Firstly, making investments into Digital Financial Inclusion and Development Finance companies. Especially those startups…