KARACHI: Destine to become the fourth fastest growing economy by 2030, Pakistan, supported by a growing population, fast growing business and increasing penetration of Internet, is poised to grab first position among the digital economies, Information Technology (IT) experts say.
US technology giant, Google, says Pakistan is quickly becoming a “digital-first country”, which means there are new opportunities for brands to reach and engage with consumers that may have previously been overlooked.
“It shows that Google has realized the marketing potential of the country and they are now encouraging businesses to focus on Pakistan as a potential market,” Badar Khushnood, vice president of growth at Fishry.Com and vice chairman of P@SHA, commented.
According to Google, there are five reasons for “considering expanding your digital campaigns into Pakistan”.
Pakistan’s growing population is the first reason that makes the country attractive for the foreign and local investors to venture into the IT sector.
“Pakistan has a population of more than 202 million people, which means there are lot of potential consumers coming online every day. And the country is even more urbanized than neighboring India, with nearly 40 percent of total households living in cities,” writes Lars Anthonizen, head of large customer marketing, South Asia, Google.
Pakistan’s economy grew by 5.7 percent in fiscal year 2018. HSBC in is recent report published in September 2018 has projected Pakistan to become the fourth fastest growing economy by 2030.
Around 90 percent of the companies in the country are SMEs which are contributing more that 40 percent to the country’s 313 billion economy, according to the State Bank of Pakistan.
Third attraction, according to Google, is the country’s growing smart phone users. Pakistan has 152 million cellar subscribers, and 60 million 3G/4G subscribers, according to Pakistan Telecommunication Authority (PTA).
This number will likely grow quickly as smart phone prices have dropped over the last few years. Pakistan also has some of the cheapest data prices in the world, which is helping to grow mobile app usage, according to Google.
However, experts say more work is needed to be done to fully utilize the existing potential. “We need to work on optic fibers, penetration of 4G, creation of data centers, telecom infrastructure and most importantly creation of awareness among masses,” Pervaiz Iftikhar, a member of the newly formed prime minister’s Taskforce on IT and Telecom, told Arab News.
Pakistan’s overall Internet penetration stands at 29.9 percent with 62 million broadband subscribers, a fourth attraction for the investor, as per Google. In spite of this, digital consumption in the country continues to grow quickly. YouTube watch time, for example, has seen over 60 percent growth over the last three years.
The Chinese-Pakistan Economic Corridor (CPEC) is the largest Chinese investment venture in Pakistan with around $62 billion, a fifth reason to look toward Pakistan.
The mega project under BRI is not only limited to the infrastructure and energy sector but it is also contributing to the growth of the IT sector in Pakistan.
“One of the first CPEC projects is to lay 820 kilometers of fiber-optic cable, connecting more Pakistanis to the Internet. This is in addition to ongoing investments in 3G and 4G network expansions from China Mobile, and the company has already announced plans to invest another $225 million in 4G expansion (bringing its total investment to $2.4 billion),” writes Lars Anthonizen.
“We have to connect every village through fiber optics that will not only create thousands of jobs but would multiply opportunities for the IT business countrywide,” Pervaiz Iftikhar added.
“A lot of potential exists in the IT sector of Pakistan with the young population turning to computers, smart phones and other digital means, and the country offers big market for local and foreign investors”, Jehan Ara, another member of the prime minister’s Taskforce on IT and Telecom and president of P@SHA, commented.
Badar Khushnood, who is also former consultant of Google, Facebook and Twitter, called for comprehensive policy for the growth of the IT sector.
“Taxation systems should be rationalized, simplified, and encouraging for startups. The country also needs data protection laws, and broader cyber laws,” he added.
The first meeting of the prime minister’s Task Force on IT and Telecom is expected to be held next week in Islamabad. “Comprehensive strategy including short term and long term measures would be discussed in the upcoming meeting of taskforce because country needs a policy for the persistent growth of IT and Telecom sector”, Pervaiz Iftikhar informed.
Pakistan fast becoming ‘Digital-first country’ — Google
Pakistan fast becoming ‘Digital-first country’ — Google
- Google white paper lists five reasons to expand digital campaigns to Pakistan
- Pakistan is on track to produce one of the largest digital audiences in the world
Gigi Hadid, Imaan Hammam turn heads at the Met Gala
NEW YORK: A-listers at Monday’s Met Gala in New York included US Dutch Palestinian catwalk star Gigi Hadid, Dutch Moroccan Egyptian model Imaan Hammam, Jennifer Lopez, Zendaya and a parade of others dressed in a swirl of flora and fauna looks on a green-tinged carpet lined by live foliage.
Hadid brought the drama in a look by the drama king himself, Thom Browne. Her white gown was adorned with 2.8 million microbeads with yellow flowers and green thorns. She was high glam in a wavy bob and crimson lips.
Hammam donned a two-piece ensemble — her outfit featured a cape, drawing inspiration from Swarovski's Gema collection, and a satin column skirt adorned with gold crystals.
Crafting the cape was an intricate process spanning 14 days. The cape incorporated over 3,000 crystals in six cuts and five vibrant hues while the skirt boasted over 100,000 crystals.
Meanwhile, Lopez went for silver leaves in a second-skin gown by Schiaparelli and Zendaya was all vamp and fantasy in a rare double appearance on the steps of The Metropolitan Museum of Art.
Lopez went with Tiffany & Co. diamonds, including a stunning bird motif necklace with a diamond of over 20 carats at its center.
Zendaya put on her fashion face in peacock hues of blue and green, with a head piece to match and leaf accents. The look was Maison Margiela by John Gallliano. She walked again to close the carpet in black Givenchy Haute Couture gown also by Galliano with a head piece stuffed with flowers by Alexander McQueen.
Mindy Kaling is sure to make the best-dressed lists in sand-colored swirls that towered over her head at the back. Her look was by Indian couturier Gaurav Gupta.
Penelope Cruz, meanwhile, went goth in black by Chanel. It had a bustier top and a Sleeping Beauty-like off-shoulder silhouette. There was another Sleeping Beauty-ish guest: Kendall Jenner in a Givenchy look done by Alexander McQueen in 1999.
Kendall’s sister, Kylie Jenner, was in an Oscar de la Renta low-cut strapless look, a white bloom in her clicked-back updo and a train behind. Older sister Kim Kardashian tightly covered up her silver corset look with a leaf motif by Maison Margiela with a gray sweater.
Saudi authorities foil attempt to smuggle 27.6 kg of cocaine
RIYADH: Saudi Arabia’s Zakat, Tax and Customs Authority has thwarted an attempt to smuggle into the Kingdom 27.6 kg of cocaine found hidden inside the air conditioner of a shipment of potatoes.
Authorities at Jeddah Islamic Port arrested two individuals who were set to receive the shipment.
In a statement ZATCA said it is “committed to stiffening customs control of the Kingdom’s imports and exports, stressing that it will stay vigilant to thwart smuggling attempts and ensure the protection of the society.”
Members of the public are encouraged to report any drug-related crimes by calling 1910, via e-mail [email protected], or through the international number 00966114208417.
At UN General Assembly, Pakistan proposes collective efforts to thwart space weaponization
- Pakistan’s UN ambassador says threats in and from outer space have “escalated sharply” in recent years
- Expresses concern over deployment of missile defense systems, their integration with space technologies
ISLAMABAD: Pakistan’s ambassador to the United Nations this week proposed collective action against the weaponization of outer space, citing proliferation of destructive weapons in the territory by major powers during a debate at the UN General Assembly.
Munir Akram, Pakistan’s permanent representative to the UN, was speaking at a debate at the General Assembly on Monday over Russia’s decision last month to veto a draft US-Japan resolution that called on countries to prevent an arms race in outer space. The Security Council rejected the resolution by a vote of 13 in favor to one against, with China abstaining from the vote.
The vote came after Washington accused Moscow of developing an anti-satellite nuclear weapon to put in space. Russia has denied the allegations, with its President Vladimir Putin saying Moscow was against putting nuclear weapons in space.
During his speech at the UN General Assembly, Akram said threats to security in and from outer space have “escalated sharply” in recent years, adding that it was evident from the placement of weapons in space.
“Ambassador Munir Akram called for the issue of weaponization of outer space to be transmitted to the Conference on Disarmament for further consideration and urged collective action to preserve outer space for peaceful purposes,” a press release from Pakistan’s permanent mission to the UN said on Tuesday.
Akram said Pakistan has always maintained a principled position that resolutions on global disarmament should be deliberated and concluded in a transparent manner. He called for doing so at appropriate forums such as the Conference on Disarmament, the UN Disarmament Commission, and the first Committee of the General Assembly.
“In his statement, Ambassador Akram underscored the gravity of the situation, citing the proliferation of weapons in space and the increasing militarization of outer space by major powers,” the statement said. “He expressed concern over the deployment of missile defense systems and their integration with outer space technologies, warning of the destabilizing impact on global and regional security.”
He said if nuclear weapons were deployed in outer space, it would constitute a violation of the Outer Space Treaty. Akram highlighted the need for multilateral cooperation, particularly within the Conference of Disarmament, to address growing threats posed by outer space’s weaponization.
Pakistan is eager to take strides in its own space program. China last Friday launched a Pakistani satellite, ‘ICUBE-Qamar’ or ICUBE-Q into outer space, which is set to enter the lunar orbit on a high-stakes moon mission to reach the lunar side. The launch was part of China’s Chang’e-6 mission, a planned robotic lunar exploration mission, that aims to obtain the first-ever soil and rock samples from the lunar far side and return them to Earth.
The satellite was designed and developed by IST (Pakistan’s Institute of Space Technology) with China’s Shanghai University and Pakistan’s national space agency SUPARCO, state media had reported.
A senior ICT official who was co-lead on the project said last week that this is Pakistan’s first deep space mission, describing it as a “historic moment.”
Saudi Aramco’s net profit hits $27.27bn in Q1 2024
RIYADH: Energy giant Saudi Aramco reported a net profit of $27.27 billion in the first three months of this year, marking a 2.04 percent increase compared to the previous quarter.
According to the company’s statement, the state-owned oil firm’s total revenue for the first quarter stood at $107.21 billion, with the total operating income for the period reaching $58.88 billion.
Amin H Nasser, president and CEO of Saudi Aramco, said: “Our first quarter performance reflects the resilience and strength of Aramco, reinforcing our position as a leading supplier of energy to economies, to industries and to people worldwide.”
However, when compared with the first quarter of the previous year, the net profit of the Tadawul-listed firm declined by 14.44 percent by the end of March 2024.
Despite lower net income, Aramco declared a base dividend of $20.3 billion for the first quarter and anticipates distributing its fourth performance-linked dividend of $10.8 billion in the second quarter.
Timberwolves maul Nuggets, Brunson fires Knicks over Pacers
- Remarkably, Minnesota’s dominance was achieved without Rudy Gobert, the Frenchman who is one of the defensive pillars of the Timberwolves lineup
- Knicks talisman Brunson finished with 43 points, six rebounds and six assists to give New York the early advantage in their best-of-seven conference semifinal
NEW YORK: The Minnesota Timberwolves produced a dominant defensive display to seize a commanding 2-0 lead in their best-of-seven playoff series against the Denver Nuggets with a 106-80 road victory on Monday.
The third-seeded Timberwolves harassed Denver relentlessly to claim a second straight win over the NBA champions as the series heads back to Minneapolis for Game 3 on Friday.
Karl-Anthony Towns and Anthony Edwards scored 27 points apiece but the star of the show was Minnesota’s suffocating defensive effort, which knocked Denver out of their stride almost from the tip-off.
The Timberwolves finished with 11 steals and 12 blocks, in sharp contrast to Denver who posted just six steals and five blocks.
Remarkably, Minnesota’s dominance was achieved without Rudy Gobert, the Frenchman who is one of the defensive pillars of the Timberwolves lineup.
Gobert skipped the game in order to be with his partner after the birth of the couple’s son earlier Monday.
“When you don’t got the defensive player of the year, you got to step your game up,” Towns said afterwards.
“We all understood the challenge coming in against the defending champions, a really good team, with some of the best players the game’s ever seen.
“We just wanted to come here and find a way to win the game.”
The normally unflappable Nuggets may also be without star point guard Jamal Murray for Game 3.
Murray was caught on camera hurling a heat pack onto the court in the second quarter, raising the possibility of a suspension when the incident is reviewed by NBA disciplinary chiefs.
That incident was emblematic of the Nuggets’ woes in a game that saw Minnesota in control after they surged into a 28-20 lead at the end of the first quarter.
A disastrous second quarter for Denver saw them outscored 33-15 by Minneapolis, leaving the Timberwolves leading 61-35 at halftime.
Minnesota’s iron-clad defense never looked like surrendering that advantage in the second half and the visitors raced into a 32-point lead early in the third quarter to leave Denver’s Ball Arena in stunned silence.
Denver coach Michael Malone admitted: “We just got beat up in our building and we got embarrassed in front of our fans.
“The good thing is we’re not playing until Friday, so we have a chance to get away and think about what we want to do moving forward,” added Malone.
“I’m not worried about anything other than trying to win Game 3.”
In Monday’s other playoff game, Jalen Brunson had a scintillating fourth quarter as the New York Knicks edged the Indiana Pacers 121-117 in their Eastern Conference opener.
Knicks talisman Brunson finished with 43 points, six rebounds and six assists to give New York the early advantage in their best-of-seven conference semifinal.
But it was his ice-cool performance down the stretch that swept New York to victory in front of 19,812 fans at an electric Madison Square Garden.
The Knicks guard rattled in 21 points in the fourth quarter to complete his fourth straight playoff game with 40 points or more.
Donte DiVincenzo backed Brunson with 25 points while Josh Hart weighed in with a monster performance that included 24 points, 13 rebounds, eight assists, three steals and a block.
Myles Turner led the Pacers with 23 points while Pascal Siakam added 19.
“That’s what you love about Jalen,” Knicks coach Tom Thibodeau said after the win.
“I could go on and on about him, but the thing I love about him is he’s all about the team.
“All he cares about is winning. And he cares about his teammates, and in the end, whatever it is we need, he’ll provide.
“But I think the same could be said for all the guys.”
Brunson was the difference in a pulsating contest that saw neither side gain more than a single-digit advantage across four quarters.
The Pacers opened up a nine-point lead early in the fourth quarter before the Knicks came roaring back to lead 113-109 after Brunson’s step-back jumper with 2min 42sec remaining.
DiVincenzo also came up with a huge clutch play with 40 seconds remaining, nailing a 28-foot three-pointer to put New York 118-115 ahead.
Indiana got back to within one at 118-117 but a harsh offensive foul called against Turner on DiVincenzo with 13 seconds remaining proved decisive.
Game 2 takes place in New York on Wednesday.
