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Company Updates – Profit by Pakistan Today

Pakistan’s First Ever Pet Food Donation Platform by Waggles

Waggles, Pakistan’s first premium natural pet food brand, launches its donation platform to facilitate animal shelters. In collaboration with the registered Animal Rescue Shelter in Pakistan, the program aims to create a holistic, meaningful and sustainable donation platform to strengthen the animal rescue ecosystem in Pakistan.

Faysal Funds launches a mobile application to facilitate its consumers

One of the largest mutual funds in Pakistan, Faysal funds – a subsidiary of Faysal Bank Limited – launches its first user-friendly and user-optimized mobile application to empower investors. The app would allow investors to invest, withdraw and convert at their own will, streamlining processes and improving investment efficiency. The app offers a wide range of services, including browsing investment information, comparing different funds, and checking the net asset value (NAV) of each fund.

Foodpanda appoints Muntaqa Peracha as new General Manager

Muntaqa Peracha, the former Chief Commercial Officer of Foodpanda Pakistan, has been appointed as the new Managing Director who will oversee foodpanda’s overall operations in the country, its growth and expansion, as well as the launch of new vertical markets. Muntaqa served as commercial director for two and a half years before accepting his role as general manager. He played a vital role in supplier management, customer relationship management and passenger management. Muntaqa has been driving the growth of Foodpanda Pakistan, making the company a leading food and grocery delivery platform in the country. It also expanded the foodpanda Home Chefs program to more than ten thousand home-based businesses registered today, and launched new verticals such as cloud and pandago kitchens, and foodpanda’s Logistics-as-a-Service vertical which provides express deliveries on demand.

Careem and Pakistan Tourism Development Corporation agree to launch new type of car to develop tourism

Tourism Development Corporation of Punjab (TDCP) partners with Pakistan’s famous carpooling platform, Careem. To improve tourism, this partnership aims to launch a new type of car specifically for sightseeing tours called “Safe and Secure Tourism (SST)” in Lahore.

Under the agreement, TDCP will train 10 Careem captains to become certified guides for visitors to the historic and cultural city of Lahore. In addition, Careem will also become the official mobility partner of TDCP to facilitate the visit of local and foreign tourists to the country.

Atlas Honda announces a new price increase, the CD70 reaches Rs 107,000

Atlas Honda has announced its second price increase in a month. Prices for Honda motorcycles in Pakistan have been increased up to Rs. 9,000 from June 1, 2022.

Record tax collection in Karachi – amounting to Rs 1.39 trillion

During the period July 2021 to May 2022, Karachi witnessed a record tax collection amounting to Rs 1,396,189 million, showing a 41% year-on-year growth. This is 9.1% in access to the overall budget allocated to the Large Taxpayers Office (LTO) karachi awarded at Rs 1,279,205 million.

Switch to electric vehicles – courtesy of Rico Aria

Judging by the recent rise in fuel prices, the shortage of CNG and the bleak outlook for hydrocarbons, people are looking for alternatives to their transportation needs. To fill the void, make way for electric vehicles, whose price is however exorbitant. With the recent launch of Rico Aria in Pakistan, despite being CBU, has seen growing interest. Priced at Rs 2.4 million, the car is designed and manufactured in the United States but assembled for Asia in China.

Swvl closes daily transport services in Pakistan

Popular bus-sharing service Swvl announced on Thursday that it will “suspend” daily trips to Karachi, Lahore, Islamabad and Faisalabad from Friday June 3 “in light of the global economic downturn”.

Pakistan-based start-up Anmol Network raises $1 million to build a ‘no-code’ portal to the metaverse

Anmol Network, creator of a multi-channel portal in the Metaverse space focused on usability and accessibility, announced today that it has closed a $1 million seed funding led by AU21 Capital, with strategic investment from MEXC Global Exchange, YBB Foundation, Lotus Capital, HG Ventures, Danish Chaudhry and Rob Hanneman.

Payfast launches its joint venture with Twyla Technologies to enter the MENA region

PayFast has announced that it is partnering with Qatar-based TWYLA TECHNOLOGY, owned by HE Sheikh Hamad Bin Suhaim Al Thani, of the Qatari Royal Family, to create a fintech startup called PAY2M. The startup is to offer a suite of advanced digital payment services, enabling businesses to seamlessly integrate and accept online and in-store digital payments across the MENA region.

Pakistan to host Google’s first-ever flagship gaming event

The Ignite National Technology Fund is organizing Google’s first-ever flagship event in Pakistan for its gaming industry, called “Think Games Pakistan 2022”, which will take place on June 21-22, 2022. The event is free for game enthusiasts who Learn how to win Google cross-product solutions and how Google can support their game’s lifecycle from ideation to creation to expansion.

Karachi will acquire its first computer park

The Ministry of Information Technology and Telecommunications has announced that it has acquired land costing Rs 31 billion from the CAA near Karachi Airport to set up Karachi’s first IT park . He said state-of-the-art infrastructure and IT-related facilities would be available for small and medium enterprises associated with IT services to establish themselves on subsidized land to encourage SMEs.

Swvl closes daily transport services in Pakistan

Popular bus-sharing service Swvl announced on Thursday that it will “suspend” daily trips to Karachi, Lahore, Islamabad and Faisalabad from Friday June 3 “in light of the global economic downturn”. Amid the global economic crisis, Swvl has pledged to break even by 2023 and, to that end, is seeking to cut its workforce by 32%. The company is looking to automate its operations, improve efficiency and reduce core costs to put itself on the path to profitability.

Truck-it-in lays off 30% of its employees

In a major turn of events, Truck-it-in, a major player in Pakistan’s logistics industry with technology-based services, has laid off around 30% of its workforce to curb the economic downturn caused by the surge in oil prices. Sources say the logistics company is paying “generous” severance packages to employees as it lays them off as part of its “business optimization” plan.