Pak olive oil secures Silver Award
ISLAMABAD: Pakistani olive oil has earned international acclaim by securing a Silver Award at the 2025 New York International Olive Oil Competition, the world's largest and most prestigious event for premium olive oil producers.
The award was presented to Loralai Olives, a leading Pakistani olive oil brand, recognised for its exceptional purity, sustainable production methods, and world-class packaging.
Out of more than 1,200 entries from around the globe, Pakistan's olive oil stood out, marking a significant milestone in the country's evolving olive industry.
Italy has played a pivotal role as a steady and visionary partner in Pakistan's olive oil journey. Through early-stage plantations, technical exchanges, farmer training, and mill infrastructure development, Italian-funded projects have laid a strong foundation for the industry's growth.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
an hour ago
- Express Tribune
US fund commits $10m to Pakistani startups
Listen to article A US tech fund has committed $10 million to two Pakistani IT entrepreneurs and IT experts have praised this move as it looks promising for the future. Tech analyst and expert Muhammad Yasir said that Pakistani IT firms are penetrating different traditional and non-traditional markets with their innovative products and services, which is a positive sign. Attracting investments from US-based companies will not only boost business growth and expansion of Pakistani IT companies but it will also improve the image of the country in the relevant sector, opening doors for other companies in high-end markets such as the US and EU. Pakistani IT companies need to reach more similar investors and venture capitalists in major traditional markets like the US, EU and non-traditional markets like the UAE and Saudi Arabia to expedite the overall growth of Pakistani IT exports and expansion. JR Dallas Tech Fund, the premier private investment arm of JR Dallas Wealth Management, announced a groundbreaking $10 million commitment to globally recognised technology leaders Mehwish Salman Ali and Malik Mudassir to spearhead an exclusive US-focused startup investment initiative. Under this landmark agreement, Mehwish Salman Ali and Malik Mudassir will receive $10 million in dedicated capital to identify, evaluate, and invest in high-potential startups planning to scale operations in the US. The duo will serve as lead investment partners with full authority to deploy capital across artificial intelligence, cloud computing, digital health, and frontier technology ventures. "We are entrusting $10 million to two of the most visionary technology leaders of our generation," said Jehangir A Raja, Managing Partner at JR Dallas Tech Fund. "Mehwish and Malik represent the perfect combination of technical expertise, entrepreneurial success, and strategic vision needed to identify the next generation of game-changing startups ready to conquer the American market." This $10 million commitment specifically targets startups with proven capabilities seeking to establish or expand operations within the US, creating a direct pathway for international innovation to contribute to American economic growth. The investment is likely to generate positive economic impacts as these companies are expected to generate 300-500 high-skilled technology positions within 24 months. Portfolio companies are projected to contribute $50-100 million in US economic activity within three years and accelerate breakthrough technologies in AI, healthcare, and cloud infrastructure. Mehwish Salman Ali brings unparalleled expertise as Founder & CEO of Data Vault, Pakistan's first solar-powered and quantum-encrypted AI data centre, Co-Founder of Zahanat AI, the country's first indigenous GPT model, and COO of AppsGenii Technologies. Malik Mudassir commands respect as Founder & CEO of AppsGenii Technologies, operating across the US, UK, and Pakistan, and Co-Founder of multiple successful ventures including GharPar, BoxesGen, and Dental Connect. The $10 million fund operates under a rigorous investment framework designed to maximise both financial returns and economic impact: "Receiving this $10 million commitment from JR Dallas Tech Fund represents more than capital; it's a mandate to bridge the gap between global innovation and American market opportunity," said Mehwish Salman Ali. "We are committed to identifying startups that not only promise exceptional returns but also contribute meaningfully to US technological leadership." Malik Mudassir added, "This $10 million investment enables us to support visionary entrepreneurs who understand that scaling in America requires more than great technology it demands deep market insight, operational excellence, and strategic partnership. We're here to provide all three."
Business Recorder
2 hours ago
- Business Recorder
Substandard packaging: PPWSMA calls on govt to curb Atta wastage
ISLAMABAD: The Pakistan Polypropylene Woven Sack Manufacturers Association (PPWSMA) has appealed to the Minister for National Food Security and Research, Rana Tanveer Hussain, to take urgent action to prevent the wastage of wheat flour (Atta) caused by the use of substandard packaging. In a letter addressed to the Minister, PPWSMA Chairman Iskandar Khan highlighted that, according to the Food and Agriculture Organization, over 11 million Pakistanis face acute food insecurity. 'Wheat flour (Atta), as it is commonly known, is the staple food of our nation. For a vast majority of our people, a simple Roti with onions or chilies is often their only meal,' Khan wrote. 'To preserve this essential staple in the daily diet of the common man, it must be packed and distributed in compliant sacks and bags as per the official Gazette notification.' He emphasized that significant losses are occurring due to dusting and spillage from poor-quality, non-food grade sacks—resulting in a cumulative wastage valued at approximately Rs 594 billion. The Minister was reminded of Gazette Notification S.R.O. 46(KE)/2017, issued on May 19, 2017, which mandates the use of PSQCA-licensed, environment-friendly, recyclable, and food-grade polypropylene sacks to reduce losses during handling and transit. According to PPWSMA, failure to implement this notification has led to continuous flour wastage since 2017. Khan argued that the cost difference between non-food grade and food-grade sacks is minimal compared to the potential savings. For example, using compliant bags could save Rs 75 per 20kg sack and Rs 37.50 per 10kg sack—totaling an estimated annual savings of Rs 67.2 billion. 'We seek your assistance in ensuring the enforcement of the Gazette notification to stop this massive wastage of Atta, which directly contributes to food insecurity across the country,' Khan concluded. Copyright Business Recorder, 2025
Business Recorder
2 hours ago
- Business Recorder
WHT regime: Finance Bill will introduce major changes
ISLAMABAD: Finance Bill (2025-26) will introduce major changes in withholding tax regime in budget (2025-26) to generate additional revenue. According to sources, the difference of withholding taxes between filers and non-filers would be further widened from next fiscal year. The heavy reliance on withholding taxes would continue in the next fiscal year. The withholding taxes (collected in sales tax mode) constitute over 70 percent of the direct taxes collection. One of the proposals under consideration is to raise tax rate on interest income. Cash withdrawals from banks: FBR proposes raise in WHT for non-filers The Federal Board of Revenue (FBR) has proposed to raise withholding tax on cash withdrawal from the banks by non-filers from 0.6 percent to 1 to 1.2 percent. Another proposal is to impose 1.5 percent withholding tax on the value of imports. The rates of Withholding Tax on immovable properties are expected to be rationalized in the upcoming budget (2025-26) to facilitate buyers and sellers of real estate sector from July 1 2025. Other proposals under consideration included raise in withholding tax on supplies, services and contracts. Copyright Business Recorder, 2025
