Meezan Bank, THF ink MoU to assist youths
The partnership falls under the umbrella of 'Meezan Justuju', the Bank's flagship Corporate Social Responsibility (CSR) program focused on education, employment, and economic empowerment. The MoU was signed by Syed Amir Ali, Deputy CEO Meezan Bank, and Tahir Jawaid, CEO The Hunar Foundation, at a ceremony attended by senior representatives from both organizations.
The program equips participants with market-relevant technical skills, enabling employment and financial independence while also contributing to Pakistan's socio-economic growth.
Since early 2024, Meezan Bank has continued to expand its Meezan Justuju initiative, building on previous partnerships with institutions like IBA CEIF (for Islamic Finance certification course) and NED Academy (for IT certification courses). The collaboration with THF marks another milestone in the Bank's mission to support youth through targeted training and employment programs. It will benefit over 150 trainees in the current year alone, helping reshape the national landscape of skill development, employability, and social inclusion.
Since its inception, Meezan Justuju has trained over 600 individuals, with many participants successfully entering the workforce within a short period-reinforcing the program's success as a catalyst for financial empowerment and workforce integration. The partnership with THF aligns with national priorities to harness Pakistan's growing youth population by building capacity through vocational training and has the potential to convert the country's demographic potential into a productive economic asset.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
PMI streamlines local operations: PMPKL takes steps to delist from PSX
KARACHI: Philip Morris (Pakistan) Limited (PMPKL), the local arm of global tobacco giant Philip Morris International (PMI), has formally taken steps to delist from the Pakistan Stock Exchange (PSX), signaling a major shift in its corporate strategy. The move, aimed at consolidating operations and enhancing group-level efficiency, has reached a critical stage with the company's buyback offer now disclosed in line with voluntary delisting requirements. In a notice issued to the Pakistan Stock Exchange, PMPKL reiterated that the delisting proposal was first approved by its Board of Directors at a meeting held on March 25, 2025, in Karachi. Under Rule 5.14 of the PSX Voluntary Delisting Rules, the board resolved to initiate the delisting process. As part of this transition, Philip Morris Investments B.V., the company's majority shareholder and sponsor, has committed to buying back 1,444,931 shares from minority shareholders at the price of Rs 1300 per share. Philip Morris Brands SARL, the co-sponsor, will retain its shareholding in the now private entity. This move marks a significant milestone in the journey of PMPKL, which originally entered the Pakistani market by acquiring Lakson Tobacco Company Limited, subsequently rebranding to its current identity on February 25, 2011. The company is engaged in the manufacture and sale of cigarettes and tobacco products, and has operated under the banner of one of the world's leading tobacco firms. Analysts noted that the intended delisting reflects a broader trend among multinational entities reassessing the viability and regulatory landscape of public listing in emerging markets. The move, once completed, will make Philip Morris Pakistan a privately held company again — allowing its sponsors more direct operational control in a challenging regulatory and fiscal environment. Market observers view the step as part of a global realignment by PMI to optimize capital structures and reduce reporting burdens across its emerging market entities. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
Suzuki Motorcycles unveils new graphics for GD110S and GS110
KARACHI: Suzuki Motorcycles, a leading name in the global motorcycle industry, is pleased to announce the launch of its updated Suzuki GD110S and Suzuki GS110 models, now featuring striking new graphics that blend style, performance and modern aesthetics. This exciting development is part of Suzuki's commitment to offering fresh, dynamic options for Pakistani motorcyclists. The new graphic designs are aimed at giving both models a sleek, contemporary appeal, making them stand out in the competitive motorcycle market. Alongside the eye-catching visuals, Suzuki continues to focus on the quality, reliability, and performance that has made these motorcycles favourites among riders. Suzuki GD110S-Style and Comfort Combined The Suzuki GD110S offers a perfect combination of fuel efficiency, comfort, and performance. Engineered for daily commuting and long-distance travel, it comes with a 110cc engine that ensures smooth rides with excellent fuel economy. The newly introduced graphics elevate the bike's look while keeping its signature performance intact. Copyright Business Recorder, 2025
Business Recorder
an hour ago
- Business Recorder
FDI fatigue: the exit behind the entry
FDI (foreign direct investment) inflows are up, but so is the number of investors heading for the exits. This alarming paradox reflects a crisis not just of capital but of confidence. Beneath encouraging headlines lies a deeper, unresolved trust deficit. Pakistan's economic foundation is showing cracks, and the latest FY25 data from the State Bank of Pakistan reveals troubling undercurrents. Gross FDI inflows rose 27 percent, from USD 3.17 billion in FY24 to USD 4.03 billion in FY25. Net FDI posted a modest 4.7 percent increase, from USD 2.35 billion to USD 2.46 billion. At first glance, these numbers suggest forward momentum. However, FDI inflows in isolation, without retention or reinvestment, can be dangerously misleading. Total foreign investment declined 8 percent year-on-year, falling from USD 1.96 billion to USD 1.81 billion. More significantly, foreign private investment dropped 14.8 percent, from USD 2.47 billion to USD 2.10 billion, a clear indicator of declining investor confidence in Pakistan's long-term potential. Adding to the concern, multiple global firms have quietly exited the Pakistani market in recent quarters, an unmistakable red flag for those who read beyond the data. Yes, capital is still entering, but commitment is not. Portfolio investment, often a key indicator of investor sentiment, flipped dramatically, from an inflow of USD 120 million in FY24 to an outflow of USD 355 million in FY25. This USD 475 million reversal is more than a statistical shift; it reflects anxiety, rising uncertainty, and a loss of faith in the country's policy direction. Even more concerning is the 92 percent spike in repatriation of profits and capital, rising from USD 818.4 million to USD 1.57 billion. This is not a signal of routine profit-taking; it is a silent vote of no-confidence. Although foreign public investment outflows declined by 41 percent, from USD 503 million to USD 295 million, this solitary metric cannot disguise the broader withdrawal. It is akin to celebrating a drop in rainfall during a storm; technically true, but contextually hollow. Since the beginning of the year, this writer consistently forecasted that the end result for total FDI would remain flat despite a positive intent. As part of his personal and professional responsibility, and in line with his faith and values, he has consistently shared critical but constructive feedback with decision-makers, grounded in data. Sadly, all forecasts over the past three years have proven correct. What was initiated was not mere commentary; it was a principled stance. We chose not to hide behind slogans or political correctness, but instead offered bold, honest, and actionable recommendations to reform Pakistan's investment climate and rebuild investor confidence. Regrettably, the current direction remains flawed. Unless serious course correction begins now, next year may bring even more disappointing outcomes. God forbid, if those in charge continue ignoring candid advice and cling to flawed, reactive policies, the damage will only deepen. In contrast, peer economies like Vietnam, Indonesia, Malaysia, Bangladesh, and countries across Central Asia, the Middle East, and Africa are moving forward. They are attracting sustained, long-term foreign investment through credible policies, regulatory stability, and visible reforms. Pakistan, on the other hand, is falling off the radar of serious global investors. We are not just losing investment; we are losing investor trust. We are slipping on the credibility index of the global economy. Capital may still trickle in, but conviction is walking out. While some investors chase distressed assets or short-term arbitrage opportunities, few are placing long-term bets on Pakistan. The investment climate remains fragile, plagued by institutional inconsistency, policy U-turns, and volatile governance. Trust is not built on spread sheets; it's built on stability, predictability, and the rule of law. Investors ask: Will the tax regime change overnight? Will contracts be enforced? Will profit repatriation be allowed without last-minute hurdles? In Pakistan, these questions often go unanswered, or worse, unacknowledged. Sudden tax impositions, retroactive policy changes, regulatory uncertainty, and political disruptions continue to weaken the country's investment appeal. Attracting FDI is not enough. Retaining and growing it demands deep structural reform. We need a rules-based system where investor rights are safeguarded, repatriation is clear and consistent, and institutions operate autonomously, free from political interference. Now is the time for course correction, not cosmetics. Pakistan must engage in a brutally honest, data-driven evaluation of its investment performance. Misleading narratives, inflated projections, and hollow propaganda have no place in the rebuilding process. What is urgently needed is a complete restructuring of the investment ecosystem. This includes dismantling systemic inefficiencies, enhancing transparency, and restoring institutional continuity. Global investor expectations must be addressed through credible governance and policy continuity. This demands the appointment of competent, credible, and globally respected professionals, not political placeholders, to lead investment efforts. We must empower those who can truly inspire confidence. We may win headlines with numbers. But permanence is built on trust. And trust, once lost, is the hardest currency to recover. Copyright Business Recorder, 2025
