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Upgraded third Supply Chain Expo link global kindred spirits

By
Samina Ch
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BEIJING, July 16 (APP):the 3rd China International Supply Chain Expo (CISCE), the first supply chain expo at the national level worldwide, is set to be held in Beijing from July 16 to July 20, featuring exhibitions, forums, seminars and trade fairs.
From product R&D and design, procurement and transportation of raw materials, to production and distribution of semi-finished and finished products, to final consumption, through which forms a chain system that requires efficient collaboration, the supply chain.
With an exhibition area of about 120,000 square meters, the five-day expo, Themed “Connecting the World for a Shared Future”, has attracted a total of 651 enterprises from 75 countries and regions. The proportion of overseas exhibitors this year has reached about 35%, in which European and United States exhibitors accounted for 50%, and the Fortune Global 500 and industry leading enterprises accounted for more than 65%. More than that, it will embrace 170 overseas delegations, an increase of 21% over the previous session, CEN reported.
“NVIDIA has become the computing platform that drives the global AI ecosystem. In China, more than 1.5 million developers are turning their innovations into reality on our platform. DeepSeek, Alibaba, Tencent Hunyuan, MiniMax, Baidu Ernie Bot, all of such world-class models that were bred and shared in China are driving the mushrooming development of global AI,” said Jensen Huang, founder and CEO of NVIDIA, in his opening speech. “Hundreds of projects in China are using NVIDIA Omniverse to simulate digital twins for the design and optimization of factories and warehouses, which is the best example of how AI is bringing new growth opportunities to China’s outstanding supply chain ecosystem.”
“Our recent research shows that if current tensions continue to escalate, the global trading system will be severely damaged, with non-fuel exports from developing countries will decline by 33% over the next five years,” stressed John W.H. Denton, Secretary General of the International Chamber of Commerce. “It is necessary that events like today highlight the need for shared development.”
The third CISCE consists of seven exhibition areas, namely Supply Chain Service, Digital Technology, Healthy Life, Green Agriculture, Smart Vehicle, Clean Energy and the advanced Manufacturing chain. The reporter learned that many companies come here together with upstream and downstream suppliers for win-win effect. “It’s not about competing for business, but collaborating for partners,” reflecting the feature of this expo with the theme of “Chain”.
Also, the 3rd CISCE are going to release the 2025 edition of the Global Supply Chain Promotion Report. Alongside the report, a series of latest indices were introduced: the Global Supply Chain Promotion Index, the Global Supply Chain Connectivity Index, the Global Supply Chain Innovation Index, and the Global Supply Chain Resilience Index, all of which will more accurately present global supply chain trends and major risks through quantitative analysis methods.
Ren Hongbin, chairman of CCPIT, noted that the data-driven insights offered by the report addressed key questions related to global supply chain connectivity and disruption risks, which are of great concern to both governments and the global business community.

Removal of Pakistan’s name from British ASL an important milestone: Asif

By
Shahzad Ahmad
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ISLAMABAD, Jul 16 (APP):Minister for Defence Khawaja Muhammad Asif while welcoming the United Kingdom’s Air Safety Committee decision on Wednesday, termed the removal of Pakistan’s name from the British Air Safety List (ASL) as an important milestone.
Addressing a press conference, the minister said Pakistan achieved this milestone under the dynamic leadership of Prime Minister Shehbaz Sharif. The lifting of the ban reflects growing international confidence in the Pakistan Civil Aviation Authority’s compliance with global safety standards, he said.
He said that the UK has now allowed Pakistan’s national airline and other private carriers to once again apply for permission to operate direct flights. “Pakistan will apply for an operating licence to resume direct flights to the UK,” he said.
Although there was no formal ban on PIA’s direct flights to New York, the minister said efforts were also underway to resume direct flights to New York and other destinations.
Khawaja Asif criticized an irresponsible statement by then-Aviation Minister Ghulam Sarwar Khan of the Pakistan Tehreek-e-Insaf (PTI) government for triggering the ban on PIA operations in European countries and the UK.  Ghulam Sarwar’s remarks caused irreparable damage to the reputation of both PIA and Pakistan, he added.
He said that the ban also resulted in financial losses amounting to billions of rupees for the national flag carrier and negatively affected the country’s global image.
The minister appreciated the continuous and tireless efforts of the Civil Aviation Authority (CAA), PIA, and other officials, especially Khawaja Saad Rafique, in working to lift the ban on Pakistani airline operations in the UK.
Khawaja Asif also expressed gratitude to European and British aviation regulators for their guidance and support in helping Pakistan address safety concerns and meet international standards.
He said that the decision would also ease travel for the estimated 1.6 million overseas Pakistanis living in the UK and Europe.
Looking ahead, the minister said the government was moving towards the privatization of PIA, expressing confidence that the lifting of the ban would help maximize the proceeds from the airline’s sale. He said that all international routes of PIA would be restored.
In response to a question, he said that various consortium had shown interest in the PIA privatization process.
It is worth mentioning that the UK and European aviation authorities imposed a ban on PIA flights in July 2020 following the fake pilot licence scandal. At the time, then-aviation minister Ghulam Sarwar Khan had claimed that a number of pilots were flying with fraudulent licences.

Finance minister reviews USC closure up process

By
Shahzad Ahmad
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ISLAMABAD, Jul 16 (APP):Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Wednesday chaired a  high-level meeting of the Committee constituted by the Prime Minister to oversee the closure and privatization of the Utility Stores Corporation (USC).
The Committee has been tasked with ensuring a smooth and transparent closure process, formulating a suitable VSS for USC employees, and recommending a structured timeline for privatization.
Special Assistant to the Prime Minister on Industries & Production, Haroon Akhtar Khan; Secretaries Establishment, Finance, Industries & Production, Managing Director of USC and senior officers from the Finance and Revenue Division attended the meeting today.
During the meeting, the committee led by the finance minister reviewed the progress made in the light of the tasks assigned to it and held detailed deliberations on the way forward. It was reaffirmed that, in accordance with the government’s directives, all operations of USC will be closed by 31st July 2025.
The committee discussed at length the formulation of a fair and financially viable Voluntary Separation Scheme (VSS) for the USC employees.
During the course of the meeting, the members examined various dimensions of the proposed VSS, including its projected size, potential fiscal impact, and legal and operational implications associated with its structure and rollout.
The committee recommended that the Privatization Commission be consulted regarding the optimal structuring and feasibility of privatization or alternatively asset sales linked with the USC operations.
To facilitate a comprehensive analysis, the chair constituted a sub-committee headed by the Secretary Establishment Division.
The committee will include representatives from the Finance Division and the Industries & Production Division to examine the legal and operational aspects, contours, size, and structure of the proposed VSS and submit its report to the main Committee by the end of the week.
This will enable the committee to consolidate its findings and finalize its report and recommendations to be submitted to the Prime Minister in line with the Terms of Reference.

KP Chief minister honors martyrs, pledges full support to police

By
Samina Ch
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PESHAWAR, Jul 16 (APP):Chief Minister Khyber Pakhtunkhwa Ali Amin Khan Gandapur visited Police Lines Peshawar  Tuesday, where he was welcomed by Inspector General of Police and senior officials.
 A police contingent presented a guard of honor, and the CM paid tribute at the Martyrs’ Monument, laying floral wreaths.
During his address at the Police Durbar,  Chief Minister emphasized honoring martyrs and their families, stating, “Nations that respect their martyrs are invincible.”
He announced that martyrs’ families would be received standing in all government offices, including the CM’s Secretariat.
Highlighting police welfare, Ali Amin Gandapur revealed the KP police budget was increased from Rs. 124 billion to Rs. 158 billion, with salaries raised to match other provinces.
The recruitment quota for martyrs’ children was boosted from 5% to 12.5%, with 280 heirs already inducted. Free plots for martyrs’ families in housing societies were also confirmed.
The Chief Minister inspected new APCs, bulletproof vehicles, and modern equipment, vowing, “Resource shortages won’t hinder police needs.”
He urged merit-based policing, warning against recommendations: “If the CM doesn’t interfere, no one should.”
Chief Minister directed traffic police to show leniency to poor laborers while penalizing powerful violators. “Peace is priority—development follows law and order,” he asserted, promising immediate resource allocation.
The event concluded with prayers for martyrs’ elevated ranks.

Sindhi Adabi Board approves various projects

By
Samina Ch
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HYDERABAD, Jul 16 (APP):The meeting of the Board of Governors of the Jamshoro (P) Sindhi Adabi Board was held under the chairmanship of the chairman of the board, Makhdoom Saeed-ul-Zaman “Aatif”.
 According to a press release issued here on Wednesday members of the Board of Governors Sarfaraz Rajar, Dr. Karim Khawaja, Dr. Nawaz Ali Shawq, Dr. Asad Jamal Puli and Madam Nazir Naz participated.
During the meeting, various projects of the institution were approved.
The chairman and members of the board, while passing the letter, requested the government of Sindh to make a grant of at least 30 crore rupees for the development of the Sindhi Literary Board so that the institution can run its business in a better manner.
In his statement issued after the meeting, Makhdoom Saeed-ul-Zaman “Aatif” said, “The publication of books for the promotion of Sindhi language, literature, history, culture and heritage is the primary responsibility of the institution. We are determined to publish more and more new, quality and important books, especially those that are waiting to be published or those that are important in scientific, literary and research contexts. Correspondence is ongoing on the important issues of the Sindhi Board. The Chairman of the Sindhi Adabi Board and the members of the Board of Governors.”
Chief Minister of Sindh Syed Murad Ali Shah requested that PC-1 should be approved for the new construction of a book shop of Sindhi Literary Board in Hyderabad along with the stopped PC-1 of Sindhi Literary Board and should be re-opened.

Rupee sheds 30 paisa against US Dollar

By
Shahzad Ahmad
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ISLAMABAD, Jul 16 (APP):The Rupee on Wednesday depreciated by 30 paisa against the US Dollar in the interbank trading and closed at Rs 284.96 against the previous day’s closing of Rs 284.66.
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs288 and Rs288.5, respectively.
The price of the Euro decreased by Rs1.62 to close at Rs 331.11 against the last day’s closing of Rs 332.73, according to the State Bank of Pakistan (SBP).
The Japanese yen decreased by 01 paisa and closed at Rs 1.91, whereas a decline of Rs 1.02 was witnessed in the exchange rate of the British Pound, which was traded at Rs 381.77 compared to the previous day’s closing of Rs 382.79.
The exchange rates of the Emirates Dirham and the Saudi Riyal increased by 08 paisa each to close at Rs 77.58 and Rs 75.98, respectively.

Pakistan, Korea discuss enhanced cooperation in technology, skills development

By
Samina Ch
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ISLAMABAD, Jul 16 (APP):Federal Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja and Park Jae-lark, Chargé d’Affaires of the Republic of Korea, on Wednesday discussed expanding bilateral cooperation in technology, human resource development, and industry-academia collaboration.
The minister, during a meeting, highlighted Pakistan’s strong commitment to building a competitive workforce through quality training programs aimed at preparing the youth for the digital economy.
She underscored the need for strategic partnerships with Korean institutions to promote innovation and strengthen technical education.
“We are investing in skill development to ensure our youth are equipped to meet the demands of a rapidly evolving digital world,” she stated.
Mr. Park appreciated the minister’s vision and welcomed the idea of deeper collaboration in emerging technologies, research, and capacity-building.
Both sides agreed to explore practical opportunities for partnership that would support economic growth and technological progress in both countries.

Pakistan terms SCO of ‘immense significance’ for regional peace, economic integration

By
Shumaila Andleeb
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XI’AN, China, July 16 (APP): Pakistan on Wednesday termed the Shanghai Cooperation Organization (SCO) as immensely significant for the country, serving as a vital platform to advance regional peace, economic integration, and strategic collaboration.

This was stated by the Federal Secretary for the Ministry of Information and Broadcasting, Ambreen Jan, as she delivered a congratulatory message on behalf of President Asif Ali Zardari at the opening ceremony of the 2nd Television Festival of Shanghai Cooperation Organization Countries, held in Xi’an.

Pakistan terms SCO of 'immense significance' for regional peace, economic integration

Speaking as a guest of honour at the event titled “Joining Civilizations: Audio-Video Creations for a Shared Future,” Ambreen Jan said that through its mechanisms, the SCO fosters solidarity, mutual respect, and collective progress.

“Pakistan places great emphasis on promoting people-to-people ties to cultivate mutual understanding, cultural appreciation, and trust among our diverse communities,” she said.

Pakistan terms SCO of 'immense significance' for regional peace, economic integration

She stated that this vibrant initiative stands as a testament to the enduring cultural and media cooperation among SCO member states.

“It plays a pivotal role in promoting people-to-people connections, showcasing our shared cultural heritage, and fostering mutual understanding and respect across diverse civilizations through the powerful medium of audio-visual storytelling,” she added.

Ambreen Jan said the event’s theme resonates deeply with the core principles of the ‘Shanghai Spirit,’ which champions mutual trust, mutual benefit, equality, consultation, respect for diverse cultures, and shared development. These values are vividly reflected in this event, strengthening bonds among our nations.

On behalf of the Government of Pakistan, she extended heartfelt congratulations on the successful convening of the 2nd Shanghai Cooperation Organization (SCO) Television Festival.

CDNS sets saving inflows target of Rs 1.3 trillion for FY, 2025-26

By
Samina Ch
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0
ISLAMABAD, Jul 16 (APP):The Central Directorate of National Savings (CDNS), has set a savings inflows target of Rs 1.3 trillion for the current Fiscal Year, 2025-26.
Similarly, the CDNS has set a target of Rs 50 billion in investments in Islamic Investment for the Current Fiscal Year 2025-26, which will lead to the growth of the Islamic economy in the country, the senior official of CDNS told APP here on Wednesday.
Already the CDNS has accomplished a net target of Rs 255 at the end of fiscal year, from July 1 to June 30, 2024-25, he said.
The CDNS has achieved the net annual target of Rs 106 billion for the current Fiscal Year, 2024-25, which will promote the country’s saving culture, he said.
He said that National Savings has set an annual target of Rs1.7 trillion for the year 2023-24; it is encouraging that this year, “We surpassed the 100 per cent of the annual target.”
The CDNS surpassed the annual target and achieved the target of Rs 1.6 trillion in fresh bonds in the previous fiscal year 2022-23, he said.
He said it was an Rs 200 billion additional annual target than the target of Rs 1300 billion for the financial year 2021-22.
The CDNS has set a revised saving target of Rs 1.4 trillion for the financial year (2021-22), which will promote a savings culture in the country, he said, adding that given the current market trend in the country, the ambitious target had been set to further improve the savings culture.
Replying to another question, he said the CDNS has reduced the Savings certificate rate on the Defence Saving Certificates, from 11.91 per cent to 11.76 per cent.
The profit rate on Special Saving Certificates has considerably decreased from 10.90 per cent to 10.60 per cent from last week of June, 2025, he said.
The senior official of CDNS said the profit on the Shuhada Family Welfare Account has also reduced on Regular Income Certificates by 20bps.
For Islamic Saving Account, the savings rate also decreased 59bps, setting the current rate at 9.75 per cent, he said.

Payoneer SVP highlights potential of Pakistan’s SMB sector

By
Samina Ch
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0
ISLAMABAD, Jul 16 (APP):Senior Vice President (SVP) Nagesh Devata, at Payoneer for the Asia-Pacific region, shares insights into supporting small and medium-sized businesses (SMBs) in Pakistan and beyond.
Pakistan’s SMB sector, comprising around 5 million firms, contributes 40% to GDP and 25% to exports, with a rapidly growing digital economy fueled by a young, tech-savvy population and strong English proficiency.
As global trade evolves, SMBs face challenges with traditional banking systems, high fees, complex documentation, and limited transparency, hindering efficient cross-border payments.
Payoneer addresses these barriers by offering a business-grade, multi-currency financial platform accessible to SMBs, entrepreneurs, gig workers, and e-commerce sellers. The platform enables users to receive payments in multiple major currencies and in over 190 countries, making them “local” to their clients worldwide while supporting easy withdrawals to local banks with competitive fees.
Payoneer’s strength lies in simplifying the complexities of global payments, regulatory compliance, and fraud risk management with advanced technologies and a strong local presence in 35 countries, supporting over 20 languages. As of March 2025, nearly 2 million active users trust Payoneer, which manages $6.6 billion in funds and processed $80.1 billion in transaction volume in 2024. The Asia-Pacific region saw a 31% revenue increase, reflecting strong growth driven by digital entrepreneurs and exporters.
Key trends shaping digital payments include the demand for multi-currency solutions, increased focus on compliance and security, and integrated platforms that streamline cash flow management. Payoneer’s proprietary KYC and risk management infrastructure leverages machine learning to secure transactions across 7,000 trade corridors worldwide.
For Pakistani SMBs, Payoneer offers compelling benefits: virtual accounts in multiple currencies, simplified invoicing and payment collection globally via services like “Request a Payment,” transparent dashboards, and strong local support in Urdu and English. These features enable businesses, from freelancers to e-commerce exporters, to expand internationally without administrative hurdles.
Payoneer also invests in the Pakistani market through community-building initiatives, expert sessions, and events such as the XBorder Excellence Awards and Game Connects, which foster networking and knowledge sharing among exporters and digital entrepreneurs.
Looking ahead, Payoneer is embracing innovations such as artificial intelligence to enhance service accuracy, fraud detection, and the overall customer experience. Devata emphasises trust as the cornerstone of fintech success, especially in cross-border finance.
His advice for Pakistani SMBs aiming for global expansion is to thoroughly understand their target markets while leveraging digital payment platforms like Payoneer, which remove traditional barriers, enabling businesses to grow internationally with confidence and agility.
This commitment to empowering SMBs through technology and localised support positions Payoneer as a key enabler of Pakistan’s integration into the global digital economy.
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