Huawei to expand mobile

payment services

Lahore (Staff Reporter): Huawei is the most innovative as well as most energetically superior brand name in the technology world, no doubt. Huawei has been progressively heading in almost every possible aspect of technological products and services and even the critics come around that Huawei is a real technology master and the most customer oriented brand. Recently it is reported that Huawei has chalked out a plan to expand the payment services across the world for smart phones and Huawei wearable users soon. Although Huawei Pay has already been launched in China in collaboration with China bank the schedule to expand it further in the international market is not made clear.

It is claimed by the Huawei officials that Huawei Pay will be soon available in the other countries, most probably starting from Europe and then to the other regions. But the certain thing is that Huawei is on its mark to upset its competitors Apple and Samsung in such payment services as well. Huawei is expecting a huge success of the Huawei Pay services as the technology giant has successfully earned the confidence and repute among the national as well as international market with respect to its products and policies of preferring its customers.

Huawei Pay services launch for Pakistan market is although not provided with a clear schedule, but, the consumer pool of Huawei brand is already excited to use the services as soon as possible. Pakistani market is anticipating the similar high quality of service for Huawei Pay of the global technology master, as the market has witnessed so far for its high technology the products. Now all has to do is to wait for this amazing service of Huawei to reach Pakistan, the sooner it is possible.

PSO stopped from taking action against its franchises

LAHORE (Staff Reporter): OGRA vide its letter dated 15th April 2016, has directed PSO to refrain from its action against its franchisee resulting in serious safety hazards. (copy available). APCNGA had appealed to OGRA that its members who are PSO Refuelling Station Franchisees were being subjected to extortion of undue and unlawful amounts by pressurizing them through coercive methods. PSO has been unduly demanding from its franchisee refuelling stations over and above the OGRA prescribed per kg OMC Fee, to which PSO and its parent authority i.e Ministry of Petroleum and natural resources had earlier consented. PSO later refused to own up its own decision and directive from MP&NR.

Having gone into arbitration with its franchises, PSO even refused to accept the verdict of the arbitrator dated 17 Sep 2010 and later dated 10 August 2015, while the arbitration award is already fixed before Islamabad high court for making it the “Rule of Law” and is sub judice.

PSO through its powerful muscle in sheer violation of moral, legal and commercial ethics, is pressurizing its franchisee to forcibly accept its unlawful terms by (i) deliberately blocking the renewal of their explosive license; a serious safety violation, (2).reducing / terminating its petroleum supplies and (3).unlawful deductions on account of CNG recoveries (a sub judice matter) from franchisee’s advance payments for petroleum products.

When contracted , Mr. Hayat , Chairman APCNGA stated that PSO had crossed all limits and the PSO CNG franchisee have decided to seek legal remedy by filing suits for recovery of unlawful and ille

Chinese website to promote BISP products

ISLAMABAD (Staff Reporter): China-based online shopping website would launch the promotion and sale of BISP beneficiaries’ products at international level. Initially, Cheezmall would undertake pilot initiatives in seven districts of the country covering all the regions equally. The decision was made during a meeting of Chairperson BISP Marvi Memon with the delegation from Cheezmall. It was also decided that Cheezmall would deal directly with the beneficiaries and BISP will only play the role of a facilitator. The Cheezmall delegation called on Chairperson BISP in order to give a briefing on their proposal regarding online promotion and sale of BISP beneficiaries’ products at international level.

Cheezmall, originating from China, is an online shopping website created by professionals of E-Commerce who have past experience of managing and running Alibaba, a global leader in the field. In order to replicate the successful model of Alibaba, Cheezmall utilises expertise of Alibaba for training of their managers. It started its operation in Pakistan last year.

Aurangzeb Khan, CEO Cheezmall, Nino Zhao, VP Marketing, Maggie Cheng, Director Sourcing, Haider Qazi, Senior Marketing Executive, and Awais Maqbool, Business Development Manager represented the Cheezmall. Chairperson BISP was assisted by Secretary BISP Muhammad Saleem Ahmed Ranjha and BISP management.

Talking on the occasion, Marvi Memon said that investing in women’s economic empowerment sets a direct path towards poverty alleviation and financial inclusiveness. The BISP has discovered a way to financial empowerment of its beneficiaries through E-Commerce, she said.

Marvi Memon further said that BISP intends to harness entrepreneurial potential of its beneficiaries by marketing the products of poor women. 

Chairperson BISP reiterated that through BISP E-Commerce, the products of beneficiaries are already available online giving international recognition to the traditional products of the country.  She further added that market access to the handicrafts of marginalised segments would contribute in their welfare.

CEO Cheezmall Aurangzeb Khan stated that we need to establish a strong vendor base in Pakistan and BISP beneficiaries would be unique vendors for the Cheezmall. Cheezmall is highly interested in promoting these poverty ridden women. Cheezmall delegates presented their business and marketing plan for maximising the profits for beneficiary products. 

Chairperson BISP directed BISP E-Commerce team to further discuss and evaluate the Cheezmall proposal and business model so that an efficient and transparent mechanism of including BISP beneficiaries in the E-Commerce set up may be established.

 

 

SECP seeks comments on

Draft of KYC Rules

ISLAMABAD (Staff Reporter): The federal government has approved the draft Centralized (Know Your Customer) Organization Rules, 2016, framed under the Securities Act, 2015, to obtain public comments by May 15. The draft rules have been notified in the official gazette of Pakistan and also made available on its website. Currently all capital market intermediaries such as securities brokers perform registration/account opening process for their clients separately. This process involves collection of supporting documents from the clients which not only leads to duplication of efforts and waste of resources but also results in clients having to repeatedly undergo KYC process each time they open an account with an intermediary.

This can at times lead to variation in the KYC information for the same client such as mobile number, email, address, etc. available with different intermediaries. Moreover, the possibility of individual intermediaries not being able to verify the accuracy of KYC information creates problems of authenticating whether the client is operating his or her own account. The verification of KYC information is particularly pertinent as an efficient KYC system serves as the backbone of an effective anti-money laundering (AML) and counter-terrorism financing (CTF) regime.

Thus it has been envisaged that a Centralized KYC Organization (CKO) shall be established. It will develop a centralized system for maintaining separate and exclusive database for the KYC information of clients maintaining accounts with market intermediaries. The duplication of procedures performed at the time of opening accounts with different market intermediaries will also be avoided. The draft rules therefore provide for the licensing and operation of a CKO in Pakistan.

ENDS

PR working on railway line

between Pakistan, China

ISLAMABAD (APP): The Ministry of Railways is working on a proposal to lay railway line between Pakistan and China from Havelian (Pakistan) to Khunjrab (Pak-China border). The length of the proposed link is approximately 682 kms and actual cost of the project would be worked out after detailed feasibility study and design of the project. However, the project is likely to be commenced upon finalization of the feasibility study and approval of PC-I. Official sources on Monday said the proposed project is envisaged to be executed in long term under CPEC (2025-30). The sources said the proposed railway line will touch Abbottabad, Mansehra, Batgram, Basham, Dasu, Chilas, Gilgit and Hunza as per route studied at pre-feasibility stage.