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Leading fintech outlines vision for affordable remittances for Pakistani users at Dubai summit

JazzCash head, Murtaza Ali, speaks at Dubai FinTech Summit in Dubai, Pakistan. (JazzCash)
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Updated 17 May 2024
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Leading fintech outlines vision for affordable remittances for Pakistani users at Dubai summit

  • Unencumbered by traditional banking infrastructure, top JazzCash official sees fintechs offering greater financial inclusion
  • Murtaza Ali says women already constitute 30 percent of JazzCash customers and 17 percent of its lending users
Updated 17 May 2024
Arab News Pakistan

KARACHI: The top official of a leading Pakistani fintech told a summit in Dubai on Friday financial platforms offered by companies like his could boost remittances to the country, making these transfers more affordable and remotely accessible while making the platforms pivotal for millions of local households.

JazzCash, a mobile wallet and branchless banking service provided by a major telecom operator in Pakistan, was originally launched as “MobiCash” in 2012 before it was rebranded four years later.

Earlier this week, it announced a partnership with the United Arab Emirates-based financial service provider, du Pay, for smooth cross-border payments, saying the collaboration, powered by Western Union, would allow Pakistani nationals to send money directly to JazzCash mobile wallets.

According to a statement issued by the company, the JazzCash head, Murtaza Ali, spoke about the financial inclusion provided by fintech organizations while discussing their impact on the country’s economic landscape.

“Detached from traditional limitations like bank branches and agent networks, digital remittances can reach even remote, low-income households, empowering them to participate in the formal financial system,” he told the participants of the Dubai summit.

The Gulf nation hosts a vast Pakistani expatriate community and holds the distinction of being the second-largest contributor of remittances to Pakistan after Saudi Arabia, with $548 million transferred to the South Asian country in March.

Ali also revealed that women constituted 30 percent of JazzCash customers, 17 percent of lending users, 23,000 merchants and 6,000 agents.

“These encouraging numbers reflect the company’s ongoing commitment to enhancing female participation in its services,” he added.

The statement informed he also praised Pakistan’s central bank, telecom authority and financial regulatory agency for their collaborative approach that propelled digital and financial inclusion across the country.

“With a large unbanked population and a cash-dependent SME [small and medium enterprise] sector, we anticipate exponential growth,” it quoted Ali as saying. “Our roadmap involves leveraging data for risk assessment, venturing into Insurtech, and further integrating financial services into everyday transactions.”

Topics: Jazz Dubai Summit JazzCash Veon Moblink Arab News Pakistan Fintech in Pakistan Dubai

At Tajikistan summit, Pakistan PM urges world action over India’s ‘weaponization’ of Indus waters

Updated 13 sec ago
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At Tajikistan summit, Pakistan PM urges world action over India’s ‘weaponization’ of Indus waters

  • India suspended the Indus Waters Treaty a day after a militant attack in disputed Kashmir, which it blamed on Pakistan
  • The attack triggered worst fighting between the two neighbors in decades before they agreed to a ceasefire this month
Updated 13 sec ago
Kashaf Rehman

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday drew the world’s attention to India’s “weaponization” of water by suspending Indus Waters Treaty (IWT) with Pakistan, urging the world to not let millions of lives to be held “hostage.”
India announced on April 23 that it was putting the 1960 World Bank-mediated treaty in abeyance after it accused Pakistan of backing an attack on tourists in Indian-administered Kashmir. Islamabad has denied complicity and called for a credible, international probe into it.
The IWT grants Pakistan rights to the Indus basin’s western rivers — Indus, Jhelum, and Chenab — for irrigation, drinking, and non-consumptive uses like hydropower, while India controls the eastern rivers — Ravi, Beas, and Sutlej — for unrestricted use but must not significantly alter their flow. India can use the western rivers for limited purposes such as power generation and irrigation, without storing or diverting large volumes, according to the agreement.
Speaking at the International Conference on Glaciers’ Preservation in Dushanbe, Sharif said the world must recognize that water transcends political boundaries, connects communities and sustains ecosystems and cultures, demanding world action over New Delhi’s move to suspend the IWT.
“We are now witnessing an alarming new low, the weaponization of water, India’s unilateral and illegal decision to hold in abeyance the Indus Water Treaty which governs the sharing of the Indus basin’s water is deeply regrettable,” he said, urging that lives of millions of Pakistanis must not be held hostage to “narrow political gains.”
“Our waters and our glaciers... bind us in a shared destiny. Let us protect and preserve nature’s precious bounties for our planet and our peoples.”
The IWT suspension was among a series of punitive measures India announced against Pakistan over the Kashmir attack that killed 26 people. The archfoes this month traded missile, drone and artillery fire in their worst fighting since 1999 Kargil War before agreeing to a ceasefire on May 10.
India has maintained its decision to keep the treaty, which ensures water for 80 percent of Pakistani farms, in abeyance, while Islamabad has said it will contest the move at every forum.
Sharif also urged the world to expedite its climate action to protect glacial systems, which were the lifeline of their civilization, culture and economy.
He said his country witnessed firsthand the peril of glacial melt in 2022, when devastating floods submerged Pakistan, washing away standing crops over millions of acres, affecting over 30 million people and causing more billions of dollars in damages.
“We only contribute less than half percent of the total world emissions, and yet we are one of those 10 most vulnerable countries facing this menace [of climate change],” he said.
“I pray to Allah Almighty that other countries do not face this kind of devastation which we faced back in 2022, but it will not be protected through words and speeches, it requires comprehensive, a plan, and immediate implementation.”
Pakistan believes in shared responsibility and collective action, according to Sharif. There is an urgent need for an enhanced global climate action to mitigate the negative impacts of climate change.
“The developed countries must meet their climate financial commitments without any delay and with a balanced focus on adaptation and mitigation as well as loss and damage,” he said.
“Adequate funding for climate resilient infrastructure and overcoming financing gap remains critical for climate vulnerable countries.”
Islamabad has been urging the international community to ensure faster and simpler disbursements from the global fund to help vulnerable countries respond to climate-related losses.
The Fund for Responding to Loss and Damage (FRLD) was established at the COP27 climate summit in Egypt in 2022 and a year later, nearly 200 nations agreed to the operationalization of $575 million as part of it. However, disbursements under the program have since been slow, hampering climate adaptation efforts in developing countries.

Topics: Pakistan Tajikistan Ties

Heavy rains, thunderstorms claim more than 25 lives in Pakistan

Updated 30 May 2025
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Heavy rains, thunderstorms claim more than 25 lives in Pakistan

  • Moist currents have penetrated Pakistan over the past one week, with rains lashing upper and central regions
  • Moist currents have penetrated Pakistan over the past one week, with rains lashing upper and central regions
Updated 30 May 2025
KASHIF IMRAN

ISLAMABAD: Heavy rains and thunderstorms have killed eight people in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, authorities said on Friday, taking the nationwide death from rain-related incidents to at least 26.

Moist currents have penetrated Pakistan over the past one week and under the influence of this weather system, isolated heavy rains and hail and thunderstorms have lashed several areas in upper and central parts of the country.

The Provincial Disaster Management Authority (PDMA) said fresh downpours, which began on May 27, have damaged 25 homes in Mardan, Swabi, Peshawar, Shangla, Swat, Torghar, Mohmand, Mansehra and Haripur, killing eight and injuring 21 people.

“Among the deceased are five men, two women, and a child,” the PDMA said in a statement. “The injured include ten men, five women and six children.”

Earlier this week, Punjab Provincial Disaster Management Authority chief Irfan Ali Kathia confirmed heavy rains had killed 18 people and injured 110 people in the eastern province.

Pakistan has seen erratic changes in its weather patterns which have led to frequent heat waves, untimely rains, storms, cyclones and droughts in recent years. Scientists have blamed the events on human-driven climate change.

The Pakistan Meteorological Department has forecast that the current spell of rains will continue till May 31.

“PDMA has instructed local administrations to provide immediate support to affected families and ensure that the injured receive proper medical care,” the KP authority said.

“Citizens are urged to report any emergencies by calling 1700.”

In 2022, devastating floods, blamed on human-driven climate change, killed more than 1,700 Pakistanis, affected another 33 million and caused the country over $30 billion in economic losses.

Topics: rains Monsoon 2025

Four soldiers, seven ‘Indian-sponsored’ militants killed in Pakistan’s northwest, military says

Updated 30 May 2025
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Four soldiers, seven ‘Indian-sponsored’ militants killed in Pakistan’s northwest, military says

  • Islamabad has lately accused India of orchestrating several militant attacks in Pakistan, New Delhi denies allegations
  • Both neighbors this month traded missiles, drones and artillery fire in their worst standoff in more than two decades
Updated 30 May 2025
SAIMA SHABBIR

ISLAMABAD: Four Pakistani soldiers and seven “Indian-sponsored” militants were killed in separate encounters in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, the Pakistani military said late Thursday.

Islamabad has accused India of orchestrating several militant attacks in Pakistan, amid heightened tensions between the two neighbors since traded fire earlier this month in worst fighting between them in decades. New Delhi denies the allegations.

On Thursday, the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing, said the militants attempted to attack a security forces’ check-post in KP’s North Waziristan district, which was effectively thwarted by Pakistani forces.

“Indian sponsored khwarij [militants] attempted to attack a Security Forces Check Post in general area Shawal, North Waziristan District. The attempt was effectively thwarted by own troops and in ensuing fire exchange, six Indian sponsored khwarij were sent to hell,” it said in a statement.

“However, during intense fire exchange, Lt. Daniyal Ismail… a brave young officer who was leading his troops from front, fought gallantly and embraced Shahadat along with his three men.”

Pakistani security forces neutralized one more “Indian-sponsored” militant in another encounter in the Chitral district, according to the ISPR.

“Sanitization operations are being conducted to eliminate any other Indian-sponsored kharji found in the area,” it added.

Pakistan and India often accuse each other of supporting militancy. This month’s standoff, which saw the neighbors trade missiles, drones and artillery fire, was triggered by an attack on tourists in Indian-administered Kashmir that India blamed on Pakistan. Islamabad has denied involvement.

Islamabad blames India of backing a separatist insurgency in Pakistan’s southwestern Balochistan province as well as religiously motivated militant groups, like the Pakistani Taliban, in KP. India denies the allegations.

Topics: Pakistan Army

Minister says Pakistan State Oil to expand into renewable energy

Updated 30 May 2025
ISMAIL DILAWAR 
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Minister says Pakistan State Oil to expand into renewable energy

  • Pakistan’s largest fuel supplier’s plan signals a shift away from a fossil fuel-reliant energy mix
  • Ali Pervaiz Malik calls advancing transition to clean energy central to government’s energy vision
Updated 30 May 2025
ISMAIL DILAWAR 

KARACHI: Pakistan State Oil (PSO), the country’s largest fuel supplier, is preparing to diversify its operations into renewable energy and emerging sectors of the energy market, Petroleum Minister Ali Pervaiz Malik said during a high-level visit to the company’s Karachi headquarters on Thursday.

The move signals a strategic shift in Pakistan’s state-owned energy sector as it seeks to modernize infrastructure, reduce emissions and align with global trends toward sustainability.

Malik’s visit, part of a broader government outreach to key industry stakeholders, comes amid the government’s continuing efforts to reform Pakistan’s fossil fuel-reliant energy mix and enhance long-term resilience.

“The government is fully committed to steering Pakistan’s energy sector toward greater resilience, sustainability and innovation,” Malik said during meetings with PSO leadership and board members. “Enhancing fuel quality, reducing emissions and advancing the transition to clean energy are central to this vision.”

During the visit, PSO’s top management briefed the minister on the company’s performance, supply chain stability and automation initiatives.

Officials also outlined plans to modernize PSO’s infrastructure and develop forward-looking strategies to enter the renewable energy space, though no specific projects were announced.

Malik praised PSO’s role in maintaining reliable fuel supplies nationwide and pledged the government’s full support in helping the company address operational challenges.

He emphasized that policy alignment and cross-sector coordination would be key to creating a more efficient and consumer-focused energy ecosystem.

The minister also met with representatives of the Oil Companies Advisory Committee (OCAC) and the Petroleum Dealers Association, where discussions focused on regulatory bottlenecks, profit margins and broader sectoral reforms.

He assured participants that their concerns would be addressed through structured engagement.

“In the best interest of the country, all stakeholders must collaborate with a shared commitment to progress,” Malik said. “Together, we can build a modern energy sector that meets the evolving needs of our nation.”

Pakistan has faced recurring energy crises in recent years, with high fuel import bills, inconsistent power supplies and delayed infrastructure upgrades straining the economy. While some private and semi-public entities have begun pivoting to renewables, PSO’s potential entry into the sector is expected to mark one of the first serious moves by a major state player.

Topics: Pakistan State Oil (PSO)

During Tajikistan visit, Pakistan PM urges world to hold India accountable for ‘acts of war’

Updated 29 May 2025
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During Tajikistan visit, Pakistan PM urges world to hold India accountable for ‘acts of war’

  • Shehbaz Sharif made the remarks during a meeting with Tajik President Emomali Rahmon in Dushanbe
  • He will attend a glacier preservation conference in Tajikistan, present Pakistan’s stance on climate change
Updated 29 May 2025
SAIMA SHABBIR

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday urged the international community to hold India accountable for what he described as “acts of war” earlier this month, saying the region could not afford New Delhi’s “irresponsible and unlawful actions.”

Sharif made the remarks during a meeting with Tajik President Emomali Rahmon in Dushanbe, where the two leaders discussed regional security, economic ties and cooperation on climate issues.

His statement came just days after a military confrontation between nuclear-armed India and Pakistan, which saw the two countries exchange missile, drone and artillery fire between them.

Sharif arrived in Tajikistan’s capital on the final leg of a five-day regional diplomacy tour that earlier took him to Türkiye, Iran and Azerbaijan, as Islamabad seeks to reinforce strategic ties and shore up support following the South Asian standoff.

He was received in Dushanbe by Tajik Prime Minister Qohir Rasulzoda and later attended a bilateral meeting with President Rahmon at the Qasr-e-Millat.

“The Prime Minister underscored that our region could not afford India’s irresponsible and unlawful actions since 7 May 2025, which amounted to acts of war and violation the UN Charter and international law,” a statement released by his office said after the meeting. “The Prime Minister urged the international community to hold India accountable, reiterating that Pakistan desires peace, but will defend its sovereignty with full resolve if challenged.”

President Rahmon, expressing concern over the recent conflict, said he was “very worried” about the events of early May and praised Sharif’s leadership in helping restore peace and stability. He also called Pakistan a “trusted partner” and reaffirmed Tajikistan’s commitment to deepening cooperation across all sectors.

The two leaders reviewed progress under the Strategic Partnership Agreement signed in 2024 and pledged to expand collaboration in trade, defense, education, technology and counterterrorism. They also agreed to accelerate work on the CASA-1000 energy project, a regional initiative to transmit surplus hydroelectric power from Central Asia to South Asia, which they termed a “pivotal initiative” for regional integration.

Sharif underscored Pakistan’s push for deeper connectivity with Central Asia through infrastructure and transit links, citing the China-Pakistan Economic Corridor (CPEC) as a linchpin of that strategy. He also briefed the Tajik president on Pakistan’s role in regional peace efforts and acknowledged Tajikistan’s leadership in water diplomacy and glacier preservation.

The Pakistani prime minister is in Dushanbe to attend the International High-Level Conference on Glaciers’ Preservation, where he is expected to speak on the impact of climate change on Pakistan and call for stronger global cooperation on environmental issues.

Earlier this week, Sharif held talks in Türkiye, Iran and Azerbaijan, including a trilateral summit with Turkish President Recep Tayyip Erdoğan and Azerbaijani President Ilham Aliyev in Lachin, where the three leaders pledged to deepen regional cooperation and transform fraternal ties into a strategic partnership.

Topics: Pakistan Tajikistan Ties

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