Latest news with #Khokhar
Express Tribune
3 days ago
- Business
- Express Tribune
Wheat target falls short by 4m metric tons
'When our costs are Rs3,400, how can we sell for cheaper? The policies punish us for surviving,' Khokhar said. photo: file Federal Minister for Food Rana Tanveer Hussain on Thursday revealed alleged corruption in the Pakistan Agricultural Storage and Services Corporation (Passco), amounting to around Rs1 billion. During a meeting of the Senate Standing Committee on National Food Security, held under the chairmanship of Masroor Ahsan, Hussain confirmed that corruption did indeed occur in Passco. "This is why the government is considering establishing a Commodity Wing as an alternative institution," he added. The minister further stated that wheat production this year reached 29 million metric tons, falling short of the target of 33 million metric tons. He expressed concerns that the open market wheat policy might benefit middlemen, and if farmers do not receive fair compensation for their crops, wheat cultivation could be adversely affected next year. Senator Danesh Kumar from Balochistan voiced concern over the deteriorating state of wheat, warning that if the crop is wasted, it could turn into a major scandal. The federal minister clarified that although a portion of the crop was affected, the majority of the wheat was still safe. Hussain also mentioned ongoing efforts to improve seed quality. He said action has been taken against those involved in the sale of fake seeds. He said hybrid seeds are being imported, while local seed production is also underway. The minister admitted that there is a severe shortage of manpower in the Ministry of Food with available resources operating at less than 50% capacity. He said Pakistan's agriculture sector still relies on outdated systems, while neighboring countries have made significant progress. The meeting also discussed the appointment of the Pakistan Agricultural Research Council (PARC) chairman, internal politics within the institution, and Pakistan's position in smart agriculture.
Express Tribune
24-05-2025
- Business
- Express Tribune
Ceasefire brings no relief for exporters
Listen to article Nearly two weeks after Pakistan and India agreed to a fragile ceasefire, the Pakistani business community, particularly exporters, remains gripped by anxiety. With no clear timeline for peace talks between the two nuclear-armed neighbours, fears of renewed tensions loom large. "War-like situations are disastrous for countries like Pakistan," said Ijaz Khokhar, a textile exporter from Sia PHOTO: REUTERS lkot. "Uncertainty is our biggest enemy right now. Export shipments are stuck, buyers are nervous, and every day without clarity costs us millions." The ceasefire, brokered after four days of intense border clashes, has done little to ease the strain on exporters. Even before the conflict, they were grappling with the aftermath of Trump-era tariffs. International buyers had initially cancelled orders when the US imposed tariffs on Pakistani goods, only to rush back after a 90-day pause was announced. "Now, buyers want us to absorb half the tariff costs," Khokhar explained. "But our profit margins are already razor-thin. How can we survive like this?" Compounding these challenges, a recent protest by Sindhi nationalists on the Indus Highway over water disputes brought logistics to a standstill. "Trucks carrying export goods were stranded for days," Khokhar said. "We are racing against the clock to clear pending shipments before the US tariff pause expires. Delays could mean losing buyers permanently." Misinformation during the conflict further rattled global clients. Fake news spread by Indian media claiming Karachi Port had been destroyed caused panic. "International buyers froze new orders overnight," said Nazir Saeed, a Karachi-based exporter. "They don't want their supply chains disrupted. Restoring their confidence will take months, if not years." While US President Donald Trump recently expressed interest in boosting trade with Pakistan, exporters remain skeptical. "Trade deals depend on private-sector partnerships, not government announcements," Saeed noted. "We already work with American buyers. Unless Pakistan diversifies its exports, like investing in value-added textiles or tech products, Trump's words won't translate into real growth." Pakistan's economic fragility adds to the gloom. Despite the military's bolstered image post-conflict, the economy continues to wobble. The International Monetary Fund (IMF) projects GDP growth at just 2.6% for the year 2025, far below the 5% needed to curb rising unemployment. A recent $3 billion IMF bailout has come with harsh conditions like tax hikes, energy subsidy cuts, and currency devaluation. "The IMF loan stabilised the rupee temporarily, but inflation is still at 28%," said economist Ayesha Malik. "Businesses are drowning in high input costs and low demand. Without structural reforms, recovery will remain elusive." For exporters, the stakes are existential. Textiles, which account for 60% of Pakistan's exports, face fierce regional competition from Bangladesh and Vietnam. "Global buyers demand sustainability and innovation," said business analyst Farhan Ahmed. "Pakistani firms lack the technology and financing to upgrade. Meanwhile, India and Bangladesh offer cheaper labour and better incentives." Ahmed warns that reliance on traditional exports like raw cotton and leather could backfire. "The world is shifting toward value-added goods. If Pakistan doesn't adapt, its share in the US and European markets will keep shrinking." However, despite the bleak outlook, some see a silver lining. The ceasefire, though precarious, offers a window for diplomacy. "Peace talks could revive regional trade, especially with India," Malik said. "A reopened India-Pakistan trade route would cut costs and boost exports for both sides." However, with elections approaching in India and political instability in Pakistan, few expect breakthroughs soon. For now, exporters are left navigating a storm of uncertainty. "We are tired of crises, tariffs, wars, protests," Saeed said. Pakistan's economy won't strengthen until leaders prioritise stability over short-term wins. "Peace won't fix our economy unless we innovate. Global buyers need value, not excuses. Without upgrading, Pakistan will keep losing ground," he added.
Daily Maverick
23-05-2025
- Business
- Daily Maverick
Crossfin plots global fintech push with UAE deal and Singapore launch
South African fintech investor Crossfin is expanding its investment beyond African borders, starting with the Middle East's Unitey and a new Singapore base. With the launch of a Singapore-based investment arm and a stake in United Arab Emirates-based (UAE) Unity Digital Holdings, fintech investor Crossfin has signalled its intent to plant flags across the Middle East and South East Asia. 'Our goal since the founding of Crossfin is to put money behind strategic payment rails in Africa and beyond,' said Anton Gaylard, co-founder and CXO at Crossfin. 'We hope our investment in Unitey is the first in a growing portfolio of likeminded assets in the Middle East, Africa and into South East Asia.' Their move is backed by heavyweight investors, including Standard Bank and Turing Capital Fund, a sub-fund of Chronos Capital Fund VCC. Michael Jordaan of Chronos Capital Advisors SA noted the significance of this investment: 'Unitey's role in enabling central banks with vital solutions that drive payments innovation and sovereignty has exciting applications for Crossfin and the broader fintech ecosystem.' Crossfin goes global Founded in 2021 by Muzaffar Khokhar, Unitey Digital Holdings is an emerging markets technology holding company. Its portfolio includes Mercury, a payments service provider, and Shukria, a licensed payment service brand in the UAE. 'We are very happy for Crossfin to invest in Unitey to accelerate the immensely successful journey that I started along with my co-founders in 2021,' Khokhar said. Gaylard added that Khokhar has assembled a world-class team of payments domain experts in his company, and that this Crossfin investment is complementary to other businesses across their portfolio. The fintech frenzy is on In 2024, fintech start-ups in the Middle East and north Africa region raised $700-million (R12.6-billion), accounting for 30% of total start-up funding in the area, according to a report by Dubai venture capital firm Wamda. Payment solutions and buy now, pay later services are particularly popular, with companies like Saudi-based Tabby reaching a valuation of $3.3-billion (R59-billion), Reuters reported, and snagging the top spot in Forbes' Fintech 50 list. The UAE, in particular, is emerging as a global fintech hub. The country's fintech market is projected to reach $3.56-billion (R64-billion) in 2025, driven by supportive government policies, low business start-up costs and the availability of free zones like the Dubai International Finance Centre. QR codes and super-apps Across South East Asia the fintech race is no less intense. Digital payment transaction value in the region is projected to show a compound annual growth rate of 6.29% between 2025 and 2029. Along with mobile wallets, QR code payments are leading the charge. According to a report by forecast intelligence agency, Juniper Research, the volume of QR payments in the South East Asian market will increase from 13 billion in 2023 to 90 billion in 2028. The region's fintech engine is fuelled by 'super-apps' – digital platforms that bundle several offerings like shopping, banking and ride-hailing into one ecosystem. These platforms have become central to everyday life, and are expected to reach $23-billion (R414-billion) in revenue in 2025 by the Singapore Economic Development Board. Home turf Back home, Africa's fintech sector is starting to flex its muscles. A McKinsey report projects that fintech revenues in Africa could surge to $47-billion (R845-billion) by 2028, an almost fivefold increase from $10-billion (R180-billion) in 2023. However, achieving this milestone depends on the continent reaching 15% fintech penetration, up from the current 5% to 6%. While Crossfin's Singapore move marks a geographical pivot, the company isn't abandoning its roots. Gaylard describes the Unitey deal as 'an exciting addition' that builds on years of shared history between Khokhar and the Crossfin team. 'I have worked closely with Dean and Anton at Crossfin and with the South African payments ecosystem in general over the last decade and have always considered it world class in all aspects,' Khokhar said. DM
Yahoo
19-05-2025
- Health
- Yahoo
Houston LASIK & Eye Celebrates 20 Years of Transforming Vision with LASIK
Houston, May 19, 2025 (GLOBE NEWSWIRE) -- Houston, Texas - HOUSTON, TX - Houston LASIK & Eye, a premier center for laser vision correction, is proudly celebrating 20 years of transforming patients' vision and lives through advanced LASIK procedures. Founded in 2005 by Medical Director Dr. Amjad Khokhar, the center has grown into a globally recognized institution that attracts patients from all around the world. Over the last two decades, Houston LASIK & Eye has established itself as a leader in vision correction by consistently investing in cutting-edge technology and providing personalized care. The center's commitment to excellence has made it a preferred choice for NASA astronauts, Air Force fighter pilots, and thousands of patients seeking freedom from glasses and contact lenses. "When we opened our doors 20 years ago, our vision was to create a practice where everyone could access high-quality, technologically advanced eye care in a comfortable environment," said Dr. Khokhar. "Today, we celebrate not just our longevity, but the tens of thousands of patients whose lives we've enhanced through improved vision." LASIK is a popular vision correction procedure that can correct nearsightedness, farsightedness, and astigmatism and give patients freedom from glasses and contacts. The entire process typically takes less than 15 minutes per eye, with most patients experiencing significantly improved vision within 24 hours and crystal clear vision that lasts for decades. Houston LASIK & Eye is one of the few centers nationwide offering iLASIK technology, which utilizes NASA Hubble Telescope technology for unprecedented precision. This bladeless, all-laser system combines iDesign 2.0 Refractive Studio, IntraLase™ Blade-Free Technology, and VISX™ Technology with 3D ActivTrak™ to deliver customized treatments with remarkable outcomes. iDesign 2.0 Refractive studio allows Dr. Khokhar to offer the latest and most advanced topography-integrated and wavefront-guided LASIK treatment. The center's reputation for excellence stems from its comprehensive approach to patient care. Unlike many LASIK providers, Dr. Khokhar personally engages with patients from the initial consultation through post-operative care, ensuring each individual receives treatment tailored to their unique visual needs. "Our 'Personal LASIK Experience' philosophy has been central to our success," noted Dr. Khokhar. "We believe that understanding each patient's lifestyle, addressing their concerns, and creating a relaxing environment is just as important as the advanced technology we use." With locations in Houston, Sugar Land, and Pearland, Houston LASIK & Eye offers convenience alongside quality. The center provides a limited lifetime warranty and easy financing options like CareCredit, making vision correction accessible to more Texans. Looking ahead to the next 20 years, Houston LASIK & Eye remains committed to advancing vision correction technology while maintaining its patient-centered approach. "While technology continues to evolve, our dedication to compassionate care will never change," said Dr. Khokhar. "We're honored by the trust our patients have placed in us over the past two decades and look forward to serving the Greater Houston community for many more years to come." Discover whether LASIK could be the life-changing vision correction solution one has been searching for when scheduling a complimentary, no-obligation LASIK consultation online or call Houston LASIK & Eye at 281-240-0478. During this comprehensive evaluation, their team of experienced ophthalmologists will assess any unique visual needs, eye health, and lifestyle requirements to determine one's candidacy for this revolutionary procedure. their state-of-the-art diagnostic equipment provides detailed measurements of factors that influence surgical outcomes. One will have the opportunity to ask questions, discuss expectations, explore financing options, and learn about their advanced technology and exceptional success rates. Don't let another day pass with the inconvenience of glasses or contacts. Take the first step toward visual freedom by connecting with their team today. ### For more information about Houston LASIK & Eye, contact the company here:Houston LASIK & EyeDr. Amjad Khokhar,(281) 240-0478info@ Southwest Freeway, Suite 350,Houston, TX 77074 CONTACT: Dr. Amjad Khokhar,Sign in to access your portfolio
Business Recorder
18-05-2025
- Business
- Business Recorder
‘Microfinance empowering women, uplifting communities'
LAHORE: In a country where economic inclusion often falters at the margins, microfinance has emerged as a quiet revolution empowering women, uplifting communities, and reshaping local economies. This quiet revolution was celebrated loudly on Saturday at the Expo Centre, where the Rural Community Development Programme (RCDP) marked its Silver Jubilee, commemorating 25 years of service in rural transformation. Addressing a crowd of nearly 20,000 staff members, government officials, and leaders from the microfinance sector, RCDP Chief Executive Officer Muhammad Murtaza Khokhar underscored the organization's far-reaching impact. Since 2015, the RCDP has disbursed over Rs90 billion in micro-loans to more than 1.9 million borrowers across 28 districts of Punjab — an extraordinary scale of outreach that reflects both financial discipline and grassroots trust. But it is the gendered dimension of this work that truly stands out. 'Over 98% of our borrowers are women,' Khokhar stated, highlighting RCDP's unflinching focus on empowering women as economic agents. Through targeted micro-loans, women across rural Pakistan have launched businesses, funded their children's education, and gained a measure of independence previously denied to them. This strategy is not just morally sound—it's economically wise. With a loan recovery rate exceeding 99%, RCDP stands as a model of financial sustainability in the sector. The institution attributes this success to a deeply embedded community-centric approach, rigorous credit assessments, and continuous borrower engagement. The event also served as a platform to recognize the efforts of RCDP's workforce. Top performers were awarded motorcycles, scooters, and cash prizes, while some staffers were granted Umrah tickets through a celebratory lucky draw. The festivities concluded with a grand lunch that brought together individuals from all tiers of the organization. In an era where large-scale development often overlooks the power of the periphery, RCDP's model offers a compelling counter-narrative — one where economic dignity begins not in boardrooms, but in the homes of determined women armed with micro-loans and immeasurable resolve. As Pakistan grapples with the twin challenges of poverty and gender disparity, RCDP's story is a potent reminder that sustainable development starts where it's needed most - at the grassroots. Copyright Business Recorder, 2025
