Gamer Pakistan Subsidiary K2 Gamer Announces Super Mega Pakistan Universities Esports Championship 2023-24

45-Day Event Expected to Attract Over 1,500 Student Gamers and Features 1 Million PKR Prize Pool

HENDERSON, Nev., Nov. 30, 2023 (GLOBE NEWSWIRE) — Gamer Pakistan Inc. (NASDAQ: GPAK), an early-stage technology and esports company focused on game development and in-game AI community engagement, and organizing esports events in Pakistan, today announced subsidiary K2 Gamer has launched the Super Mega Pakistan Universities Esports Championship 2023-24, a groundbreaking event poised to captivate the nation’s gaming community. Set to kick off in the first week of December, this 45-day spectacle features an impressive 1 million PKR prize pool, promising intense competition among the country’s top student gamers.

K2 Gamer Pakistan is registered with the Security and Exchange Commission of Pakistan (SECP) and a wholly owned subsidiary of the Gamer Pakistan Inc., the first USA based Pakistan esports company. It is dedicated to advancing esports across educational levels. Through strategic partnerships, the organization has signed Memorandums of Understanding (MOUs) with over 120 universities, collaborating with its affiliate, Elite Sports Pakistan (ESP), to promote esports throughout academia.

The championship follows a meticulously designed format, spanning 16 conferences in the qualifier round, progressing through group stages, zonal qualifiers, quarterfinals, semifinals, and culminating in the grand finals. All matches will be live-streamed, with the event anticipating the enthusiastic participation of over 1500 student gamers from universities across the nation.

The Super Mega Pakistan Universities Esports Championship 2023-24 unfolds in a series of competitive stages. It all begins with 256 teams in the Qualifiers, where the top 128 advance to the Group Stages. From there, only the top 64 move on to the Quarterfinals, and then the top 32 secure a spot in the Semifinals. The final showdown narrows down to the top 16 teams, competing for supremacy in the Grand Finals. This structured format ensures an exciting and challenging journey for participants, culminating in the crowning of the ultimate esports champion.

This championship signifies a historic milestone in the esports landscape, spotlighting Pakistan’s vibrant gaming community on a national stage. The event is a testament to K2Gamer Pakistan’s commitment to fostering esports talent and providing a platform for the nation’s student gamers to showcase their skills.

“We are honored to announce that K2 Gamer’s Super Mega Pakistan Universities Esports Championship 2023-24 will begin in early December and run for a total of 45 days with a 1 million PKR prize pool,” said Muhammad Jamal Qureshi, CEO of K2 Gamer. “The size and scope of this championship is validation and recognition of the rapidly growing Esports industry and the tens of millions of Pakistani gamers, particularly at the University level. I would like to wish all of our competitors well.”

About K2 Gamer

K2GAMER is a registered entity dedicated to promoting esports growth in Pakistan. The company was founded in 2022 and is headquartered in Nowsher, Pakistan. K2GAMER organizes and hosts esports events for schools, colleges, universities, and professional gamers. The company is also involved in developing and marketing esports products and services. K2 GAMER is a 90% owned subsidiary of Gamer Pakistan.

About Gamer Pakistan

Gamer Pakistan Inc. (NASDAQ: GPAK), is an esports event development and product marketing company that was founded in November 2021 to create college, inter-university and professional esports events for all genders in Pakistan. Gamer Pakistan believes it is rapidly becoming the premiere university esports partner for secondary education institutions in Pakistan. Gamer Pakistan creates the formats and events to provide a competitive environment in which to unearth and nurture budding esports talent at the collegiate level. Operations are conducted through its subsidiary, K2 Gamer (PVT) Ltd., and affiliate Elite Sports Pakistan Pvt. Ltd. For more information visit www.gamerpakistan.com.

Forward-Looking Statements

All statements in this release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recently filed Registration Statement on Form S-1, which can be found on the SEC’s website at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Investor Relations Contact:
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
GPAK@mzgroup.us
www.mzgroup.us

GlobeNewswire Distribution ID 8987300

SBP Reserves Increase by $77 Million to Cross $7.2 Billion

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $77 million on a weekly basis according to data issued by the central bank on Thursday.

On November 24, the foreign currency reserves held by the SBP were recorded at $7.257 billion, up $77 million compared to $7.180 billion on November 17.

Overall liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $12.393 billion, up $91 million over the previous week. The net reserves held by banks stood at $5.136 billion, registering an increase of $14 million during the week.

Courtesy: Ismail Iqbal Securities

Yesterday, the Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia extended the term for the deposit of $3 billion placed with SBP, maturing on December 5, 2023, for another year.

Last week, Caretaker Federal Minister for Finance Dr Shamshad Akhtar said the country would get financial assistance from various multilateral development banks once the first review of the Stand-By Arrangement (SBA) is approved by the International Monetary Fund (IMF) Executive Board.

Speaking to a private television channel, she said Pakistan would not only get $700 million from the fund but the SBA approval would also unlock financial assistance from other multilateral financial institutions to the tune of $1.5 billion.

Source: Pro Pakistani

OGRA Increases LPG Price by Rs. 4 Per Kg for December

The Oil and Gas Regulatory Authority (OGRA) has jacked up the price of indigenous liquefied petroleum gas (LPG) by Rs. 3.82 per kg, increasing the price of 11.8 kg domestic cylinder by Rs. 45.18 for December.

In a notification, the regulator set the price of LPG at Rs. 255 per kg for December compared to Rs. 251 in November. The 11.8 kg domestic cylinder price has been set at Rs. 3,097.35 for December compared to Rs. 2,962.17 in November.

In a short statement, the regulator said that it has determined the maximum price of LPG effective from December 1, 2023, in accordance with the policy guidelines of the federal government.

OGRA said the LPG producer price is linked with Saudi Aramco-CP and the US dollar exchange rate. As compared to the previous month Saudi Aramco-CP has remained unchanged. However, the average dollar exchange rate has gone up by 1.87 percent resulting in an increase in LPG consumer price.

Source: Pro Pakistani

Planning Minister Reviews Progress on Integrated Energy Planning Project

The caretaker Minister for Planning Muhammad Sami Saeed Thursday chaired a meeting to review progress on the Integrated Energy Planning (IEP) Project for sustainable development, termed it will help in tackling the energy crisis in the country.

The IEP is an effective and appropriate tool for realizing the government’s vision of developing a sustainable, cost-efficient energy sector that meets the country’s strategic, socio economic needs and rapidly growing demand for energy. In the continuation of this vision, an Energy Planning and Resource Centre (EPRC) has been established within IEP project.

The minister reviewed the work carried out by EPRC in the last two years. The EPRC team gave a comprehensive shared briefing of the policy reports published by EPRC including Pakistan Energy Demand Forecast 2021-30, Pakistan Energy Outlook Report 2021-30, Pakistan Natural Gas Policy Analysis and way forward and its upcoming work on the financial viability of introducing large scale solar IPP’s in the country.

During the meeting, Pakistan Energy Demand Forecast 2021-30 was discussed and report aims to start addressing the dire need for primary energy demand forecasting and provide the future energy demand (2021–2030) for all energy sources (oil, coal, natural gas, liquefied natural gas (LNG), liquefied petroleum gas (LPG), and electricity) across all economic sectors of Pakistan. The report provides a review of existing energy sector forecasts published by various stakeholders in their official reports, e.g., Indicative Generation Capacity Enhancement Plan (IGCEP), Power Market Survey (PMS), Pakistan Energy Outlook, Pakistan Oil Report, and Sate of Regulated Petroleum Industry Report.

Similarly, EPRC team highlighted Pakistan Energy Outlook Report 2021-30 and the report presents the Energy Outlook of Pakistan with a retrospective analysis of the country’s energy mix including Oil, petroleum oil lubricants (POL) products, gas including liquified natural gas (LNG), coal, liquified petroleum gas (LPG), and electricity.

To forecast the future energy demand through an accurate energy demand model, historical consumption trends of the energy sector and macroeconomic parameters such as gross domestic product (GDP), population, energy prices, and other such key indicators have been considered. The monthly consumption data of such variables used in the model has been acquired by the IEP team from relevant primary stakeholders and created its data repository (IEP Database) from 2006 to 2020. Moreover, considering the IEP strategic and policy objectives, a top-down approach has been used in demand modeling. The report focuses on four key pillars including a retrospective supply and consumption side analysis, forecasting of primary energy demand by 2030, an energy balance for different sectors, and finally a set of recommendations for supply, demand, and logistics management.

During the meeting, another report published by EPRC titled “Pakistan Natural Gas Policy Analysis and way forward was discussed. This report presents a comprehensive view of the present state of the gas sector in Pakistan, a policy analysis for the demand side-management with a comprehensive set of recommendations, a policy analysis of the gas pricing regime in the country with different pricing scenarios and lastly, policy analysis for supply-side management and recommendations to improve the gas supply in the country.

Based on the previous work done on the natural gas sector by EPRC, the minister directed EPRC to study the policy of gas supply merit order to consumers and also asked the team to work on the international best practices and coordinate with international bodies working on the similar domain.

The Minister also appreciated the EPRC team for their excellent work carried out for nudging the energy sector of the country in the right direction through their efforts in policy making and data management.

Source: Pro Pakistani