May 24, 2023 – Business Observer

May 24, 2023

Ariana Afghan Airlines Resumes Kabul-Urumqi Flights

Afghanistan national flag carrier, Ariana Afghan Airlines, formally resumed its passenger air services between Afghanistan’s capital city, Kabul and neighbouring China’s Urumqi city, today.

The air route has halted for three years, due to the COVID-19 pandemic. Ariana Afghan Airlines is currently the only operator of direct passenger flights between the two countries, according to the airlines.

The Afghan airlines operates once a week, on Wednesday, and returns to Kabul on the same day.

Ghulam Jilani Wafa, the deputy for the Ministry of Transport and Aviation, welcomed the resumed flights and said, the air operations would have direct impact on enhancing trade and economic relations between the two nations.

Source: Nam News Network (NNN)

May 24, 2023

SECP Directs AMCs to Formulate Corporate Governance and Proxy Voting Policy

The Securities and Exchange Commission of Pakistan (SECP) has directed Asset Management Companies to formulate a Corporate Governance and Proxy Voting policy approved by its Board of Directors.

The SECP has issued an S.R.O. 592(I)/2023 to amend the Non-Banking Finance Companies and Notified Entities Regulations, 2008 on Wednesday.

According to the amended regulations, an Asset Management Company shall formulate a Corporate Governance and Proxy Voting policy approved by its Board of Directors which covers the minimum aspects and areas as provided in the regulations.

An Asset Management Company shall put in place, appropriate policies and procedures, approved by its board of directors, which govern trading or investment in securities, investment through investment advisory portfolios under the management of the AMC by:

AMC employees, their spouses, and dependent children

directors and their spouse(s) and dependent children if such directors are privy to investment committee consultations or decisions, and such policies and procedures shall, at the minimum, cover requirements/principles as specified and the AMC may take enforcement action in accordance with the relevant policy duly approved by its board.

To the extent that a violation pertaining to trading restriction occurs, all such cases and enforcement actions taken, by the AMC shall be reported to the Commission within 30 days of AMC becoming aware of such violation and to the Board of Directors of AMC in the forthcoming board meeting, SECP added.

The SECP has also explained the financial indicators of the Borrowers. At the time of allowing fresh exposure/ enhancement/renewal, the NBFC shall ensure that the current assets to current liabilities ratio of the borrower and linkage between the borrower’s equity and its total financing from all financial institutions is not lower than such benchmarks as may be set under the credit policy of the NBFC approved by its Board.

NBFCs shall prescribe the minimum current ratio under the credit policy keeping in view the quality of the current assets, the nature of the current liabilities, the nature of the industry to which the borrower belongs, the average size of the current ratio of that industry, appropriateness of risk mitigates available to the NBFCs, etc.

It is expected that NBFCs’ credit policy duly approved by the Board of Directors, shall emphasize higher credit standards and provide full guidance to the management about the current ratio requirements for various categories of clients and corresponding risk mitigates, etc. acceptable to the NBFCs, it added.

Source: Pro Pakistani

May 24, 2023

AJK High Court Starts Online Case Hearing

In a significant development, the main seat of the Azad Jammu and Kashmir (AJK) High Court has now been seamlessly connected to all three circuit benches in Mirpur, Kotli, and Rawalakot through a reliable video link.

This innovative setup enables the courts to conduct online hearings of cases, marking a progressive step towards efficient and accessible justice.

The inauguration of this new system took place at a ceremony held in the high court building on Tuesday, with Chief Justice Sadaqat Hussain Raja leading the proceedings.

Alongside the Chief Justice, three other judges graced the occasion in Muzaffarabad, while judges from Mirpur and Rawalakot joined via video link.

Emphasizing the importance of this technological advancement, the Chief Justice clarified that the implementation of the video link system does not eliminate the circuit benches. Instead, it serves to enhance their effectiveness and dynamism in serving the people’s legal needs.

To ensure a smooth transition, comprehensive rules, and procedures have been established to provide lawyers with the option of conducting online hearings for their cases through the e-courts platform. This step aims to facilitate legal practitioners and streamline the judicial process, promoting convenience and accessibility in the realm of legal proceedings.

Source: Pro Pakistani

May 24, 2023

Injured Asad Ali Memon Requests Pakistani Embassy to Airlift Him From Everest

Pakistani climber, Asad Ali Memon, who accomplished a feat by summiting Mount Everest, now finds himself stranded on the treacherous slopes of the majestic mountain.

As per media reports, Asad Ali has contacted the Pakistani embassy in Nepal, requesting assistance and urging them to coordinate his airlift to Kathmandu for treatment.

Asad Ali, a student of IoBM, became the first person from Sindh to summit Mount Everest. However, his descent took an unforeseen turn when he suffered a dislocated hand.

Asad Ali Memon explained that he slipped between Camp 4 and Camp 3 while descending. The unfortunate accident resulted in a painful dislocation.

Asad added that the journey from the summit back to the base camp takes one to two days. However, due to his debilitating injury, his descent was extended to three days.

“With my hand dislocated, I can’t travel to Kathmandu by any other means and the only option was air service from the base camp which depends on weather conditions,” he said.

Facing the daunting task of returning to Kathmandu, the climber finds himself at a crossroads, as his hand is still dislocated and alternative means of travel are not feasible.

Source: Pro Pakistani

May 24, 2023

Vivo Launches the Gorgeous V27e With Aura Light Portrait in Pakistan

Vivo, a leading global technology company, has launched the gorgeous V27e in Pakistan.

The device is the brand’s latest addition to its popular V Series and comes with powerful camera capabilities.

Vivo V27e is equipped with an outstanding 64MP OIS Ultra-Sensing Camera, 120Hz AMOLED Display, 66W FlashCharge, 8GB + 8GB Extended RAM*, Aura Light Portrait along with eye-catching color design.

Vivo has extended its collaboration with the captain and top-ranked Batsman of the Pakistan Cricket Team for its latest product launch.

The renowned cricketer will continue to represent vivo as the Brand Ambassador for the newly released V27e device, further strengthening the bond between the player, the brand, and the youth of the country.

On this occasion, Mr. Oliver Shen, Product Director at vivo Pakistan, shared his thoughts about the device by stating:

“With an eye-catching appearance and outstanding image capabilities, V27e provides an enjoyable user experience and gives users the power to capture special, aesthetically pleasing moments. To achieve this, Vivo constantly strives to develop leading technology in its smartphones to improve performance while catering to consumer demands”.

Intelligent, Outstanding Rear Camera Ensures Glowing Portraits

64MP OIS Ultra-Sensing Camera of V27e on the back of the phone offers a longer exposure. It increases light intake by six times — producing more stable snapshots and boosting the quality and success rate of images taken in low-light conditions.

The 32MP HD Selfie Camera takes clearer selfies with richer details for a poster-like image.

Combining functionality with intelligent, outstanding cameras, the Aura Light Portrait of V27e provides exceptional portraits. V27e is an advanced smartphone owing to its 64MP OIS Ultra-Sensing Camera, studio-level soft lighting effect, and portrait-enhancing capabilities.

The Aura Light and Portrait Mode work in tandem to help the camera light up faces to create Glowing Portraits in low light conditions and help users record beautiful moments.

Creating Brighter Videos Has Never Been Easier

Vivo V27e is able to shoot brighter, more dynamic, detailed videos thanks to Hybrid Image Stabilization

(OIS + EIS) mechanism, which can perform stabilization computations and movements up to 10,000 times per second — giving users smoother, more stable, and clearer footage.

In addition, the Vlog Movie Creator feature offers a new one-stop video creation experience — providing 24 templates with rich video effects to show users how to shoot objects, people, or landscapes, along with real-time guidance for camera movement.

Stunning Screen and Gorgeous Design

Vivo constantly strives to improve the visual experience for its users. V27e has a 6.62''* 2.5D screen which provides a more immersive and engaging visual experience with a refresh rate of 120Hz* and high brightness and contrast. The 2.5D screen offers rich details — giving users a cinema-like immersive visual world.

The 120Hz AMOLED Display also features self-developed ambient light sensors combined with luminescent materials which intelligently adjust the screen’s brightness and deliver vivid, authentic colors, allowing users to enjoy a high-quality visual experience.

The flat frame, slim body of 7.7mm thick, and a weight of 185g* provide an ultra-thin grip and give the phone a slender and elegant look accentuated by the stunning flat screen.

Vivo V27e captures and pays tribute to the vibrant colors of nature. The phone has a beautiful design flow, giving it a dynamic, artistic, simple, and elegant look.

Robust performance

The new V27e is equipped with a 4600mAh battery. Coupled with Vivo’s in-house developed Flash Charge technology, it allows for 66W FlashCharge, through which the phone can be charged up to 50% in 19 minutes.*

Moreover, vivo V27e is equipped with MediaTek’s Helio G99 platform, which features a 6nm advanced processor. It combines ultra-high thermal conductivity graphite sheets with high-efficiency heat dissipation materials to create an efficient cooling system to boost performance.

Furthermore, V27e comes with an 8GB + 8GB Extended RAM*, which works in tandem with the 6nm chip to help people seamlessly switch between apps and store data.

Price and Availability

The V27e comes in two beautiful color variants, Lavender Purple and Glory Black, and is currently available for pre-booking in Pakistan. The device will be available for sale starting May 30, 2023, at PKR 119,999 only.

Vivo offers a one-year warranty for V27e along with 15 days of free replacement and 6 month warranty for accessories. Pakistan Telecommunications Authority duly approves Vivo V27e and supports all mobile networks in Pakistan. Zong customers can also get 12GB Free Mobile Internet using their 4G SIM card in Slot 1 (2GB Internet/month for 6 months).

Source: Pro Pakistani

May 24, 2023

Honda Announces Improved 0% Markup Installment Plan for Bikes

Atlas Honda Limited (AHL) has once again announced a 0% markup installment plan for its best-selling bikes. Although, now, more people can avail of the offer instead of just Bank Alfalah credit card holders.

The details of the plan are as follows:

While a useful installment plan, it still has certain limitations. According to the details, the 0% markup can only be availed by the credit card holders of the aforementioned banks.

Furthermore, the offer is only available at Daraz’s official store and extends up to 12 months only. In comparison, Pak Suzuki Motor Company’s (PSMC) 0% markup plan has a payment period of up to two years.

Additionally, Suzuki’s plan is open to all eligible customers, regardless of their credit or debit card affiliations. Honda’s plan is only limited to CD70 and CG125, while Suzuki’s plan is available for all its bikes.

To sum up, out of the ‘big three’ in the two-wheeler industry (Honda, Yamaha, and Suzuki), Suzuki has the best installment plan for its customers. Although, Honda’s plan will also likely attract a large number of buyers.

Source: Pro Pakistani