ACCA membership hits quarter of a million

       

ACCA (the Association of Chartered Certified Accountants) has unveiled its latest membership figures of 252,500, taking its membership to above quarter of a million following decades of strong growth.

 

It celebrated its 200,000 member landmark just seven years ago in 2017, and the new figures represent an increase of around 2% in membership since this time last year. ACCA also has more than 526,000 future members.

 

Ronnie Patton, president of ACCA, said: ‘The scale and scope of this achievement is amazing, and it says so much about how we attract so many people to join our worldwide community. It also highlights the substantial contribution we make to the number of qualified professional accountants across the global economy.

 

‘Our members live and work in 180 countries. This means that the voice of ACCA is heard in every corner of the planet, and the positive influence of ACCA members is felt everywhere. That’s why today we celebrate not just the size of our membership, but also the impact and contribution our members make.’

 

Founded in 1904 to widen access to the profession, ACCA in 1909 became the first professional accountancy body to admit women to membership and is known for its long history of inclusion and work for the public good. It will celebrate its 120^th anniversary in November this year.

 

Celebrations over the year will focus on the impact of members in building a better world, sharing and showcasing their stories.

Helen Brand, chief executive of ACCA, said: ‘This is an exciting achievement and we’re proud to have so many talented and committed members around the world undertaking successful careers and making such a positive impact.

‘Looking to the future, we look forward to leading an inclusive profession for a changed world, with people from all backgrounds, bound by a global code of ethics and committed to continually developing their skills to meet ever-changing needs.’

ACCA members work in a huge variety of roles in accounting, management and leadership across the business and public sectors. ACCA has played a leading role in widening the scope of accountancy to encompass strategy, sustainability and broader professional skills. It also works to share its global insights and expertise to contribute to strong and thriving economies and a better, more sustainable future for all.

 

You can watch our quarter of a million celebratory video here: https://www.youtube.com/watch?v=yCJ2-oMyL0s

NSIT City: Revolutionizing Punjab's Technological Landscape

                                                

In the sprawling expanse of Lahore, Punjab, Pakistan, a revolutionary project is underway, poised to redefine the region's technological landscape and economic trajectory. NSIT City spanning over 800 acres, emerges as a beacon of progress, innovation, and opportunity. What was once known as the Lahore Knowledge Park, dormant and untapped for a decade, now finds renewed purpose and vigor under the visionary leadership of Chief Minister Punjab Maryam Nawaz Sharif. This transformation breathes new life into the project, infusing it with a sense of purpose and direction.

NSIT stands as a testament to the power of visionary leadership and strategic planning. Divided into three key segments - the IT & Tech District, Education City, and Film City - NSIT aims to create a comprehensive ecosystem that nurtures technological innovation, fosters educational excellence, and stimulates creative industries. Each segment plays a pivotal role in shaping Punjab's future as a hub of technological advancement and economic prosperity.

At the heart of NSIT lies the ambitious Celestia, a twin-tower IT building set to mark the beginning of a new era for the project. This iconic structure will serve as a symbol of progress and innovation, attracting businesses, investors, and talent from across the globe. With its construction set to commence in the initial phase, Celestia embodies the spirit of NSIT - bold, ambitious, and forward-thinking.

The timeline for NSIT's development is ambitious yet achievable, with the entire infrastructure of the project anticipated to be finalized within three years. This rapid pace of development reflects the commitment of the Punjab government to realize the full potential of NSIT and harness its transformative power for the benefit of the region. The projected creation of approximately one million jobs underscores the economic impact of NSIT, providing employment opportunities for countless individuals and driving economic growth across sectors.

To ensure the sustainability and viability of the project, NSIT adopts a multi-faceted revenue model that includes self-generation, joint ventures, and Real Estate Investment Trusts (REITs). This diversified approach to revenue generation minimizes risk and maximizes returns, ensuring the long-term success of NSIT as a sustainable and self-sustaining entity. With an estimated investment of 100 Billion PKR, NSIT represents a significant commitment to the future of Punjab and its people.

In addition to its economic impact, NSIT is poised to become a center for technological innovation and research, driving advancements in fields such as artificial intelligence, blockchain, and cybersecurity. By fostering collaboration between industry, academia, and government, NSIT aims to create a fertile ground for innovation and entrepreneurship, paving the way for the next generation of tech leaders and pioneers.

Furthermore, NSIT's designation as a special economic zone and the Punjab government's declaration of tax-free status for ten years further incentivize investment and growth within the project. These measures demonstrate the government's unwavering commitment to fostering a conducive environment for business development and economic prosperity.

The recent launch of the Silicon Block by the Central Business District Punjab has received overwhelming response from the business community, further solidifying NSIT's position as a premier destination for tech-driven enterprises. This vibrant ecosystem of innovation and entrepreneurship sets NSIT apart as a visionary project with the potential to shape the future of Punjab and beyond.

But NSIT is more than just a collection of buildings and infrastructure; it represents a bold vision for the future of urban living. By integrating cutting-edge technology, educational excellence, creative industries, sustainable practices, and holistic healthcare, NSIT aims to uplift lifestyles, redefine urban living, and foster prosperity for all stakeholders.

The strategic master plan for NSIT embodies a bold vision for the future, one where boundaries blur, possibilities abound, and progress knows no limits. It envisions a vibrant ecosystem where individuals thrive, businesses flourish, and communities prosper. NSIT stands not only as a physical space but as a testament to innovation, sustainability, and community empowerment.

As we embark on this journey towards a brighter and more inclusive future, NSIT invites all stakeholders to join hands in realizing its vision. Together, let us shape a future where NSIT becomes the epicenter of technological innovation, economic growth, and social progress. Welcome to NSIT City, where the future meets possibility, and dreams become reality.

DUBAI ISLAMIC BANK PAKISTAN LIMITED JOINS INTERNATIONAL FINANCE CORPORATION'S GLOBAL TRADE FINANCE PROGRAM

                                                   

Dubai Islamic Bank Pakistan Limited (DIBPL) has signed an Issuing Bank Agreement (IBA) with the International Finance Corporation (IFC) to support international trade in Pakistan

Under the agreement, IFC will guarantee payment of DIBPL obligations to support their trade finance transactions with tenors of up to one year. This will strengthen DIBPL’s strategic plan to grow its international trade business and enhance correspondent banking relationships focused on international trade within the country. 

“This agreement will further streamline and ease the process for trade finance in Pakistan. Dubai Islamic Bank Pakistan remains committed to supporting businesses focused on international trade and we believe this partnership with IFC will be instrumental in achieving this goal,” said Mr. Junaid Ahmed, CEO of DIPBL. 

The agreement falls under IFC’s Global Trade Finance Program (GTFP), which extends and complements the capacity of banks to deliver trade financing by providing risk mitigation in new or challenging markets where trade lines may be constrained. 

“Trade is essential for economic growth and a key driver of opportunities for local enterprises. We are pleased to support Dubai Islamic Bank Pakistan Limited in its efforts to boost international trade and we believe this partnership will help foster a trade ecosystem in the country that strengthens supply chains, spurs productivity, and creates jobs,” said Momina Aijazuddin, Regional Head for the Financial Institutions Group at IFC. 

IFC’s GTFP has been operating in Pakistan since 2005. Pakistan is now one of the top markets for the program with a total GTFP commitments of US$6.6 billion since inception and US$1.4 billion for FY23. With the recent joining of DIPBL, IFC has now 10 partner issuing banks in Pakistan who will benefit from the program. 

POGEE 2024 – Energy sector’s largest exhibition inaugurated in Lahore

     

The 18th edition of the ‘Pakistan Oil, Gas & Energy Exhibition’ (POGEE), the premier showcase of the Energy sector, commenced at the Lahore Expo Centre with great enthusiasm. This edition, featuring cutting-edge global technologies for the Oil, Gas, and Power industries, was inaugurated alongside the 15th Safe Secure Pakistan (SSP) exhibition. The ribbon-cutting ceremony was graced by Mr. Zaki Aijaz, Vice President of the Federation of Pakistan Chambers of Commerce & Industries (FPCCI), Zia Salahuddin, Executive Director of Oil & Gas Development Company (Pakistan) Limited (OGDCL), Dr. Abdul Rehman, Administrator of RESCUE-1122 (Punjab Emergency Services), and Rao Asif Ali, Director Chevron Pakistan.

 

Despite its hiatus, POGEE and SSP witnessed robust participation from leading international and local energy companies, including Siemens Pakistan, JC Electronics (Netherlands), Flanders Investment & Trade (Belgium), and Hangzhou Turbine Power Group (China). Held from 8th to 10th May 2024, this event at the Lahore Expo Centre is expected to draw thousands of delegates from key stakeholders and government institutions.

 

The chief guest underscored the significance of POGEE and SSP in providing valuable opportunities for stakeholders in the oil, gas, power, safety, and security industries, facilitating business expansion and diversification in Pakistan. He commended Pegasus Consultancy for consistently organizing impactful events that bring together diverse exhibitors and decision-makers to promote cutting-edge technologies and exchange expert opinions.

 

Discussions at the event emphasized the crucial role of Pakistan's energy sector in economic and industrial development, stressing the need for sustainable energy sources to mitigate environmental impact. According to the recent 'Integrated Energy Planning' (IEP) report, the country's energy demand is projected to increase significantly by 2030, presenting attractive investment opportunities for global companies.

 

Pegasus Consultancy, renowned for organizing high-profile trade exhibitions in Pakistan annually, including IFTECH, Plasti&Pack, POGEE, and Safe Secure Pakistan, has garnered significant international participation. The Managing Director, Aamer Khanzada, expressed satisfaction with the overwhelming response to this year's event, with 100 companies from 17 countries participating, showcasing a range of petroleum-related products and services.

 

Oil & Gas Development Company Limited (OGDCL) serves as the strategic partner for the event, with Chevron Group as the Gold Sponsor, representing global giants such as Chevron, TEXACO, and CALTEX. In addition to POGEE, the concurrent 15th International Fire, Safety, Security & Health Exhibition - ‘Safe Secure Pakistan’ is expected to attract a large audience from relevant industrial sectors.

Standard Chartered Facilitates Finance Minister's Meeting with International Investors, Explores Pakistan's Investment Potential

                                                           

Standard Chartered Pakistan hosted an exclusive meeting between a delegation of international investors representing renowned Asset Management Funds from different parts of the world and the Federal Minister for Finance & Revenue, Mr. Muhammad Aurangzeb, in Islamabad. The meeting aimed to foster collaboration and explore potential investment opportunities in Pakistan's economy.

Standard Chartered has a rich history in Pakistan, having worked closely with the authorities through its onshore presence and global network. The bank continues to facilitate foreign participation in Pakistan's local and foreign currency debt and capital markets by engaging with high-profile international investors.

The Minister was accompanied by senior officials from the Ministry of Finance and the Federal Board of Revenue (FBR). During an insightful discussion with international investors, the Minister highlighted the government's tax initiatives and macroeconomic stability, marked by reduced inflation and a surge in the stock market, reflecting growing investor confidence. The Minister also discussed the potential of key sectors, including infrastructure development, privatizations, IT and technology, agriculture, and energy. These sectors present opportunities for growth and investment, and the government is committed to supporting their development.

This initiative underscores Standard Chartered's commitment to nurturing economic growth and development within Pakistan by bridging the gap between international investors and local stakeholders. The meeting concluded successfully, with participants expressing optimism regarding future collaborations and investment prospects within Pakistan.

As part of their visit, the investors will also hold meetings with officials from the State Bank of Pakistan, multilateral organisations, local businesses, and other stakeholders to gain a deeper understanding of the current country dynamics and opportunities.

Google doubling down support on AI skills for Pakistanis with Google AI Essentials course, Google Career Certificate scholarships and new programs

                                              

Google is committed to ensuring that everybody can benefit from AI, and we believe that skilling is the first step. Google has launched Google AI Essentials, a new course to help more people unlock AI skills for the future, provides up to 45,000 scholarships for Google Career Certificates in 2024, and adds two new programs to upskill freelancers and women

A new educational course for AI beginners

Google AI Essentials is our new self-paced, online course taught by AI experts at Google. This course requires no previous experience with AI, and is designed to help teach people across roles and industries get essential AI skills to boost productivity, and gain hands-on experience via a variety of AI tools.

With this course, people will learn how to use AI tools to brainstorm ideas and speed up daily work tasks. You’ll also learn how to write effective prompts and use AI responsibly by identifying AI’s potential biases. Google AI Essentials is available on Coursera in English.

Global 30-sec AIE intro video. Download here. https://youtu.be/B9zSBDdxnNA

In addition to Google AI Essentials, the Google Career Certificates (GCC) prepare learners for entry-level jobs in fast-growing fields, whether it’s Data Analytics, Cybersecurity or Digital Marketing. We’ve added new resources to our certificates to help learners discover how professionals in their fields are using AI, while gaining hands-on experience applying AI to a workplace scenario.

For Google Career Certificates, Google will provide up to 45,000 scholarships in 2024

From the first launch in 2022, 80% of GCC graduates in Pakistan reported the program had helped them advance in their careers. In addition, according to partner-led surveys (IRM/TechValley, 2023), 28% of women who graduated from the program reported experiencing financial growth, 24% stated they obtained a new job or got promoted, and 91% feel more confident after completing the program.

PAFLA Freelancer and Career Kamyabi programs

Pakistan is home to the third-largest freelancing economy in the world and it is critical to ensure that the country's freelance talent remains competitive, especially in today’s rapidly evolving digital environment. This year, Google, in partnership with the Pakistan Freelancers Association (PAFLA), has developed a program that will help the freelance community in Pakistan address challenges around soft skills areas such as personal branding, and communication skills. Up to 50,000 PAFLA freelancers could benefit from the program taught by Google experts.

To inspire and empower women to join and thrive in the workforce, Google, along with its long-term partner Tech Valley, has joined forces to design a Career Kamyabi program which advocates for gender balance in the workforce and aims to create an inclusive and supportive work environment for women by offering equal employment and professional development opportunities. The program, which already has the support of 50+ of Pakistan's leading employers, helps create economic opportunities for women by connecting them with potential employers.

Farhan Qureshi, Google’s Country Director for Pakistan, stated, “With the Google Career Certificates initiative, we are hoping to continue to play an effective role in the digital landscape of Pakistan. Our scholarships and training programs are designed to not only help the young Pakistanis explore the realms of the tech world but to also financially empower them. We are grateful to all our local partners who have joined hands with us and have worked diligently to ensure that the Pakistani youth have more opportunities to reach their full potential.”

Google is committed to building a Future Forward Pakistan with initiatives like the GCC and will continue to invest in providing young talent with the digital skills needed to grow and succeed. The third phase of Google Career Certificates program aims to establish a strong presence in Pakistan and strengthen the culture of learning, empowerment, and inclusivity amongst all.

Alibaba.com and TDAP Bolster Pakistani Exporters with Introduction of Training Initiatives and New Intelligent Tool Suite

                                                               

Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, and the Trade Development Authority of Pakistan (TDAP) today announced a series of training programs designed to equip Pakistani businesses, particularly small and medium-sized exporters, with essential knowledge, tools and methodologies to achieve success in the global market. In conjunction with this announcement, Alibaba.com has unveiled its intelligent tool suite, Smart Assistant, as its latest offering to help boost the international trade capacity of Pakistani exporters operating on its platform.

 

The announcement was made at the 2024 Global B2B Digital Export Summit, held under the theme “Smart Up Your Trade, Leading Your Way” on May 8, 2024, at the Pearl Continental Hotel, Lahore. The summit featured a host of B2B e-commerce and export experts, including Shahzad Ahmed Khan, Director General of the Trade Development Authority of Pakistan (TDAP) and Rocky Lu, Head of Pakistan Business at Alibaba.com, alongside other guests such as Kashif Anwar, President of the Lahore Chamber of Commerce and Industry (LCCI), Adil Mukhtar, Assistant Director at TDAP, Berry Ma, Marketing Director of Southeast Asia at Alibaba.com.

 

Commenting on the collaboration, Shahzad Ahmed Khan, Director General at TDAP, stated, “Our joint effort with Alibaba.com to plan a series of training programs is a significant move towards the digital empowerment of Pakistani SMEs. By combining our resources, we are equipping local businesses with advanced B2B e-commerce skills and strategic vision for their success on the global stage. Together, we’re fostering an environment conducive to innovation, sustainability and success.”

 

Affirming the commitment to digital advancement, Rocky Lu, Head of Pakistan Business at Alibaba.com, remarked, “In today’s fiercely competitive global marketplace, digital transformation is not just desirable, but essential for SMEs. Our joint training programs with TDAP are crafted to hone the global trading capabilities and acumen of Pakistani SMEs. Additionally, the introduction of our intelligent tool suite, Smart Assistant, is set to complement these training efforts by providing suppliers operating on our platform with smart e-commerce tools aimed at refining business operations and communications, as well as offering valuable insights into prevailing market trends for informed decision-making. We believe these initiatives will not only bolster competitiveness but also pave the way for broader growth in the global e-commerce sector.”

 

Alibaba.com’s Smart Assistant offers various advanced features that elevate the performance and competitiveness of SMEs in the export market, including:

 

* Product listing optimization: Suggests attractive titles, keywords, descriptions, and professional images and videos for products.

* Smart chatbot: Assists businesses in communicating with international customers, automatically and swiftly replying request-for-quotation (RFQ) messages, and editing texts in a professional style.

* Specialist knowledge: Offers accurate and in-depth market information, tailored to each specific product category and based on Alibaba.com’s extensive database and 24 years of experience, for informed decision-making.

 

JNM Leather Safety Gloves Industries has seen significant improvements in operational efficiency and garnered useful market insights since adopting Smart Assistant as a pilot user. The company joined Alibaba.com in 2014 and now achieves annual revenues surpassing US$1.5 million.

 

“We’ve seen remarkable enhancements in our operations since incorporating Smart Assistant,” shared Muzaffar Hussain, Head of Overseas Marketing at JNM Leather Safety Gloves Industries. “It has streamlined our business processes and provided sharp analyses of customer trends, enabling us to better anticipate and meet market demands.”

 

Alibaba.com is now offering a limited-time free trial of the Smart Assistant tool suite to all Pakistani suppliers on its platform. For more information, please visit: https://pakistan.alibaba.com/