Enjoy Endless Handheld Infotainment with the all new HUAWEI MatePad T 8

Huawei aims to bring more and more devices as part of its 1+8+N product strategy whereby it shall enable consumers to adopt a full-fledged affordable smart lifestyle. Therefore, the HUAWEI MatePad T 8 is available to purchase at PKR 23,999/- only.

The way consumers read books is changing, with tablets becoming the ideal solution for reading wherever and whenever suitable without having to carry around heavy books. As watching movies and listening to music on your tablet becomes the norm, why not make it the ultimate entertainment hub by also incorporating your reading library. Through careful ergonomic design, ultimate portability and the eBook mode, the newly launched HUAWEI MatePad T 8 is the perfect eBook reader for adults and children alike.

When it comes to using your tablet as an eBook reader, it is crucial that it is lightweight enough for users to comfortably hold for a long period of time. Through careful design, Huawei has been able to design the Huawei MatePad T 8 to come in at only 310g, which is lighter than a lot of other affordable tablets on the market. Furthermore, the ergonomic Micro-arc design ensures a comfortable hold even over long periods of use. Another advantage of this slim line design is that it makes it very comfortable for children to use, which is essential when it comes to encouraging young people to read.

When you are engrossed in a book and staring at a screen, often for hours on end, it is important to have an immersive yet comfortable user experience. Maximising the impact of the tablet’s striking 8-inch display, the HUAWEI MatePad T 8 features ultra-slim bezels, with a high screen-to-body ratio of 80%. This ultra slim bezel design allows for a truly immersive viewing experience, transforming the way you read a book.  HUAWEI MatePad T 8 has some eye protection features, such as Eye Comfort mode, eBook mode, and its Kids Corner has blue light filter, posture alerts and bumpy road alerts. This is especially important when encouraging children to read as they have more sensitive eyes.

Designed to keep users entertained for hours on end, the HUAWEI MatePad T 8 features an octa-core processor combining four high performance cores running at 2.0GHz and four efficiency cores at 1.5GHz. The advanced chipset works in tandem with the 5100mAh high capacity battery embedded in the tablet to support up to 12 hours of continuous local video playback, or up to 600 hours of standby time, meaning you can always rely on it to dip into your book whenever suits.

As our lives become ever busier and more mobile, users are constantly looking for ways to streamline their work and home life. This includes the age-old pastime of reading – whether it be for pleasure or for your job. With the HUAWEI MatePad T 8, this stylish Deepsea blue tablet is much more than just a piece of tech, it’s the portal to thousands of amazing stories.

Power, Performance and Affordability – Meet the New HUAWEI MatePad T 8

In line with the 1 + 8 + N product strategy, the HUAWEI MatePad T 8 extends the league of innovative products by Huawei as a compact, all-rounder tablet for everyone that goes on sale nationwide for PKR 23,999/- only

The consumer technology threshold stands revolutionized today. While Huawei is leading the charge from the front, it has once again extended its 1 + 8 + N product strategy in Pakistan. This time, by introducing a tablet that packs power, performance, a FullView display and long-lasting battery life – all in a compact offering. Usually brands are racing to produce tablets at cheaper and cheaper prices, often compromising on the performance. With the newly launched HUAWEI MatePad T 8 however, Huawei has crafted an affordable tablet which does not compromise on powerful performance. Equipped with an Octa-core chipset and utilizing EMUI 10, which has been optimized for performance, the HUAWEI MatePad T 8 is built to offer customers a smooth user experience to rival flagship tablets at a price tag of PKR 23,999/-. The MatePad T 8 is available to purchase online and in stores nationwide.

Designed to support a diverse range of work and play scenarios, the HUAWEI MatePad T 8 features an octa-core processor, and the main frequency is up to 2.0 GHz, which greatly increases the tablet’s processing speeds. Users can seamlessly swap between using the tablet as a mobile office to playing games and browsing social media with extreme ease. With this, expectations of what is capable on an affordable tablet will be exceeded by users on a daily basis.

The advanced chipset works in tandem with the 5,100mAh high capacity battery embedded in the tablet to support up to 12 hours of continuous local video playback, or up to an impressive 600 hours of standby time with the screen off . With such a remarkable battery life, the HUAWEI MatePad T 8 is as reliable as it is powerful, with the user being able to put the tablet through its paces with no fear of running out of juice.

The HUAWEI MatePad T 8 offers a host of intelligent features with EMUI10.0.1. The custom Android operating system is optimised for rapid response and features a carefully developed Dark mode, based on Huawei’s human factors research, which offers a more comfortable reading experience for users. Furthermore, with magazine-like layouts, users can read on their tablet in a way which is reminiscent of holding physical books. Furthermore, the implementation of an exquisite Morandi Palette means EMUI10 looks more charming and elegant than ever.

With a striking 8-inch display utilising a high screen to body ratio of 80%, the outstanding powerful performance of the HUAWEI MatePad T 8 is given the platform it deserves to shine. The Octa-core chipset and outstanding display work in harmony to offer a smooth experience.

Overall, the HUAWEI MatePad T 8 instantly fills a gap in the market for a budget friendly tablet that does not compromise on powerful performance. With an octa-core processor and main frequency of 2.0 GHz, users can rely on the tablet to keep up with the tasks of a busy lifestyle with the reassurance that it will last all day long with a 5100mAh high capacity battery. Gone are the days of having to decide between the price or feature set of your tablet, with the HUAWEI MatePad T 8 able to tick both boxes.

realme C12 sold out on Hot Sale making realme Pakistan best selling brand on saamaan.pk

realme Pakistan recently launched the realme C12. After a successful online launch and sold out over 2000 pieces under first 10 minutes of its Hot Sale at Saamaan.pk now the realme C12 is now up for sale nationwide by August 26, 2020.

Saamaan.pk recognized realme Paksitan as it’s Best Selling Brand. Further discount on realme products is also live till 31^st August on Bank Alfallah Credit Cards. Check out alfamall.com for more details. realme C12 has a number of advantages from the photography sector and a super large battery capacity. Newly launched device gives youth a new choice of 6,000 mAh smartphone in the entry-level price segment.

realme accomplished tremendous growth records by creating flash sales and primarily selling products online. This is also in tune with its snappy young customers who get a stylish and fast partner that suits their style in realme. Brand has seen new sale records with each price drop with the entire stock being sold out in minutes or even seconds at instances.

All new realme C12, the device will come with a massive 6,000mAh battery, which according to the company comes with a 57 days standby time 46 hours of voice calling, or 60 hours of music playback on a single charge. Apart from this, realme C12 will sport a triple camera setup on the back along with a LED flash and a capacitive fingerprint sensor. On the front, the device will feature a single camera located inside of the waterdrop notch on top.

realme C12 has a 6.5-inch Mini Drop HD + display which comes with 1600 x 720 pixels screen resolution. Its aspect ratio is 20: 9 and screen to body ratio of 88.7 has been given. The phone’s screen is coated with Corning Gorilla Glass Protection. For security, users will get the facility of the rear fingerprint sensor. realme C12 runs on a 2.3GHz Octa-Core MediaTek Helio G35 processor and users can expand its storage using a microSD card.

realme C12 is the company’s budget range smartphone and has a triple rear camera setup. The primary camera of the phone is 13MP. While a 2MP monochrome sensor and a 2MP macro lens are present. At the same time, the phone has a 5MP front camera for selfies

realme C12  only variant 3GB of RAM + 32GB ROM comes with two beautiful colors Marine blue & Coral Red powered by a MediaTek Helio P35 processor. It run Google’s Android 10 operating system with the company’s own Realme UI on top at just Rs. 21,999/-.

Rebuilding a Greener, More Inclusive and Prosperous Recovery in Pakistan

Virtual Roundtable hosted by ACCA and in collaboration with CERB and PICG

A new “plan of action” is in the making following a high-powered virtual roundtable comprising a broad range of panellists from NGOs, corporates as well as the international investment community, in addressing the critical challenges facing members of the Association of Chartered Certified Accountants (ACCA) in Pakistan, the Pakistan’s Business Council’s Centre of Excellence in Responsible Business (CERB) and the Pakistan Institute of Corporate Governance (PICG).

A vibrant discussion about how to move the country forward in reducing plastic and waste, lowering carbon emissions, making a more positive social impact and trusting businesses as stewards led to a formal “plan of action” letter to policy makers in Pakistan.

The online conference featured contributions from prominent environment and sustainability advocates and trailblazers such as Hammad Naqi Khan, DG, World Wide Fund for Nature Pakistan, Jimmy Greer, Head of Sustainability, ACCA, Samar Hasan, Co-founder and CEO, Epiphany, Muhammad Shamoon Tariq, Vice Chief Investment Officer/ Partner, Tundra Fonder AB, Ahsan Jamil, President & CEO, Pakistan Institute of Corporate Governance, Ehsan Malik, CEO, Pakistan Business Council, Waqar Ahmed, Head of Corporate Affairs, Nestle Pakistan, Babar Lakhani, Chief Executive Officer, Lakson Investments Limited, and Kate Lazarus, Asia ESG Advisory Lead, IFC - International Finance Corporation.

“We can’t deny that there is a sense of urgency here. No longer can companies ‘fake it till you make it,’ so in some ways we need a ‘carrot and stick’ approach to corporate governance,” explained Ahsan Jamil, CEO of the Pakistan Institute of Corporate Governance.

“We are being forced to accept the impact of the megatrends facing Pakistan, like climate change, water scarcity and emissions. If we are going to achieve a greener, more inclusive and prosperous Pakistan, then the current set of leaders who are navigating us must do things very differently to what they have done in the past,” he added.

Ehsan Malik, CEO of the Pakistan Business Council, explained how there was a steep learning curve before Covid-19 and that this crisis has accelerated the need for greater awareness: “We are at a stage now where we need more collaboration, clarity and formality. Some companies are working towards sustainability within their own industry, but businesses need more guidance and education about how to impact Pakistan’s community and economy. The PSX, for example, is turning the dial in the right direction, but we need to help businesses take action and move forward.”

Arif Mirza, Head of Policy for Middle East and South Asia at ACCA, also pointed out how integrated thinking for ESG should drive internal reporting: “There is an alphabet soup of (ESG) reporting standards out there. When it comes to the accounting profession and financial reporting, there’s a huge cloud of ambiguity around ESG. Everyone knows they need to report (on financials) using IFRS, but it’s time we have some kind of ESG reporting standards convergence moving forward.”

Hammad Naqi Khan, Director General of WWF Pakistan, concluded that we need to raise the bars: “Not one, single factor can address or solve these urgent challenges because they are too huge and complex, particularly in Pakistan, where poverty and the loss of biodiversity are worsening. Despite the present government’s new green initiative, we need to work harder to make better outcomes for the people, the economy and the planet, and today’s talk emphasised how this can only happen with strong partnerships on all levels.”

All three organisations working on this “call to action” are non-profit and registered under Pakistan’s Section 42.  As Mirza, explains, “Our agendas, in terms of adding value to the public and business community are shared. Our ambitions in the environmental and social and governance agenda, and thus the prosperity of the people of Pakistan is very much linked to economic growth.”

realme fan fest 20-8; Fastest Growing AIOT Brand offering newly launched products on Hot Sale Saamaan.pk

realme’s explosive performance has made it one of the fastest growing smartphone brands in the world with over 40 million global users, and today the company is expanding into the nebulous “lifestyle tech” market with products in new categories.

After several speculations, online leaks and teasers, realme has launched it much-anticipated products in Pakistan on August 18. The watch, which goes by the name realme Watch, is the company's first-ever smartwatch. realme c12 which has a massive 6000 Mah bttery, realme Buds Q co created with franch designer Hose Levy with bass boost drivers.

These amazing realme products among others like realme 6 (8GB Ram & 128 GB storage )will be available on Fan Festival sale live on saamaan.pk 12am sharp 20th August with upto 25% discount. realme Pakistan is being recognized as the fastest growing AIOT brand. To share the moment with real fans Super Brand Day Hot Sale deals are:

realme 6 (8GB+128GB) Hot Sale Price PKR 43,999

realme BudsQ Hot Sale Price PKR 4,499

realme smartwatch Hot Sale Price PKR 9,499

With Dare-to-Leap spirit, realme makes continuous efforts to bring to the youth products beyond expectation and quickly successfully manage to achieve more than 40 million global users. Focusing on AIoT, realme plans to create a complete AIoT ecosystem young brand has grouped its AIoT products into three categories — Personal, Home and Travel.

In 2020, realme has implemented a 'Smartphone + AIoT' dual-driven strategy. In spite of a challenging economic environment, realme has successfully met targets laid out in this initiative. realme is on track to launch over 50 AIoT products in 2020 and over 100 the following year. In Q1 2020, despite realme being a new entrant into the smart personal audio market in India, it has secured a third place in terms of market share, according to a report by Canalys, a research firm.

realme defines its AIoT strategy as a "1+4+N" initiative, which refers to one core product (smartphones), complemented by four major groups of lifestyle devices (speakers, earphones, TVs and watches) which is in turn supported by "N" types of smart accessories.

HUAWEI AppGallery Further strengthens its Financial Apps Suite with Easypaisa

In a bid to enrich the HUAWEI AppGallery experience, more and more financial apps are being ported to the world’s top third app marketplace.

HUAWEI AppGallery, the world’s top third app marketplace is growing by leaps and bounds. Since its global launch in April 2018, the AppGallery is available in over 170 countries/regions, with 420 million monthly active users globally as of March, 2020. In Pakistan alone, Huawei has been bringing the top 100 apps based on user reviews on its AppGallery, with the most recent addition of Pakistan’s No. 1 Payments App Easypaisa.

The inclusion of Easypaisa on the HUAWEI AppGallery had long been anticipated. Now, Huawei users can access their Easypaisa wallet and do all their expense transactions, pay bills, accept remittances – to truly adopt a digital way of life. The arrival of Easypaisa heralds a feat as the HUAWEI AppGallery advances on porting leading financial apps from Pakistan on its marketplace.

As Pakistan’s No. 1 Payments App Easypaisa went live on the HUAWEI AppGallery, Scott Huang, Country Manager, Huawei Pakistan observed: “Our consumers have shown a growing interest in the HUAWEI AppGallery by using it to download apps, and revel in the true Huawei experience. The HUAWEI AppGallery has swiftly grown to become the top third app marketplace around the world, bolstered by Huawei’s global domination as the No. 01 smartphone brand in Q2 2020. In Pakistan alone, we have seen more and more people use the HUAWEI AppGallery to not only get their favourite apps, but also submit their wish lists for apps to be ported to the platform. Therefore, we are elated to bring Pakistan’s leading digital payment platform Easypaisa on the AppGallery to give our consumers a remarkably convenient experience.”

Huawei has been hard at work to bolster its AppGallery for its consumers, while the applications on the platform got a total download of 210 billion times within 2019. Consequently, the Huawei Mobile Services (HMS) Ecosystem has achieved rapid growth globally. By July 2020, Huawei has over 700 million monthly active device users. The number of registered developers worldwide has reached 1.6 million while more than 81,000 applications have integrated with HMS Core.

While sharing his thoughts on the development, M. Mudassar Aqil, President & CEO of Telenor Microfinance Bank remarked: “Being Pakistan’s No. 1 Payments App means that we are available to anyone who wishes to gain access to the Easypaisa wallet. Therefore, our inclusion on the HUAWEI AppGallery is synced with our aim to increase the Easypaisa customer base, of which we saw a notable growth in the year 2019 with 6.4 million mobile wallet users. The collaboration between Telenor Microfinance Bank and Huawei proclaims our growing relationship with the latter’s consumer base – a bond that we look forward to nurture, much like the association with all our customers across Pakistan.”

Huawei also debuted their Petal Search Widget – Find Apps, which is already available for download via HUAWEI AppGallery. The new search tool offers Huawei users an open gateway to a million apps – with convenience and ease to download and install them right away. This search tool is the one-stop solution for all your application needs on a Huawei device. You can find apps like HBL, Daraz, ARY News, Askari Bank, Geo News, My Zong, Hum TV, Zameen, Pakistan Railways and much more! Meanwhile hundreds of major new apps continue to be added to the AppGallery every week.

realme Buds Q truly wireless earbuds to launch in Pakistan on 18.8 in a live event

realme is all set to unveil its  truly wireless earbuds - realme Buds Q in Pakistan alongside its C series. The launch is scheduled to take place on August 20 during Fan festival Hot sale .

The budget Buds Q features 10mm drivers and supports both the SBC and AAC codec. The Buds Q also offers a super low latency gaming mode at 119ms. They feature Bluetooth 5.0 for connectivity and IPX4 certification for water resistance.

The realme truly wireless earphones also come with touch gestures support on each bud. These can further be customized to a user’s preference using the Realme Link app. The Buds Q wireless was first launched in China. The Buds Q earbuds have been designed in collaboration with French designer Jose Levy. They feature 10mm drivers under the hood and have interchangeable ear tips made of silicone. These are also IPX4 rated, which means it can survive water and dust splashes.

realme buds Q is co created by French design master Jose Levy. cooperated designer of Hermès. He is known in the industry as an outstanding colorist and tailor with acute insight in industrial design.

After the successful collaboration with designer Naoto Fuksava, realme design studio has brought  another amazing product and plans to do more collaborations with top trend designers in the future to showcase realme’s trend setting design approach in realme’s tech trendsetter philosophy.

In addition to the visual beauty, Levy also fully considered the ergonomic design, the curve makes realme Buds Q perfectly fit into human’s ear canal for comfort and firmness of wearing, finding the perfect balance between practicality and beauty.

realme Pakistan announces realme Fan festival. Super Products Hot Sale & Fun Campaigns. Save the Date 20.8

 With so many exciting activities lined up this whole month of August for realme fans, lifestyle partner of the youth realme Pakistan jumpstarts the realme Fan fest Month with special sales and launch events. In just over a year and a half, realme Pakistan was able to soar because of the overwhelming support it receives from the realme fans. realme is very grateful for the confidence fans gives to their products. This fuels brand to offer more devices that elevate the tech-lifestyle experience of Pakistanis. As gratitude, realme Pakistan bid to spread joy this August through the realme Fan Fest!

realme Pakistan is gearing up for “Super Fan Festival” the biggest online event till now with product launches, brand milestones and exciting giveaways. Amazing discounts will be announced Upto 25% so fans are requested to tune in live on Facebook for updates. realme will be unveiling All new realme C12, Buds Q, Smartwatch, Power bank 2 & back packs for fans this month.

realme fans better get prepared for this August as the brand celebrates its first-ever FanFest month as a way to thank everyone who supported them in the country. For the whole month of August, lots of activities are in store for realme Fans as they have lined up tons of programs and surprises.

The number of realme's global mobile phone users exceeded 35 million, an increase of 5 million in two months to 40 million. realme sustained its growth in the first half of this year and plans to achieve 100 million mobile phone sales within 2 to 3 years. realme has announced the "mobile phone + AIoT dual-drive" strategy at the beginning of 2020, and is committed to creating a smart and trendsetting lifestyle for young people with all things connected. In six months, realme has released dozens of AIoT products, and plans to release more than 50 AIoT products in 2020 and more than 100 in 2021.

realme will maintain the trend of growing and continue to provide young people with trendy technology products that fit their preferences with superior performance and trendsetting design realme provides superior quality and trendsetting smartphones and AIoT products to the global market. realme users are young, ambitious and globally minded. realme products empower these people to 'Dare to Leap' using the latest in technology and design.

“Apps UP” HUAWEI HMS App Innovation Contest Comes to Pakistan

- Top developers from all over Pakistan invited to create innovative apps by integrating with HMS Core, a full suite of Huawei’s Chipset-Device-Cloud capabilities.

- USD 200,000/- total in cash prizes, funded by the Shining-Star Program, on offer to developers worldwide in flagship contest

- Prizes on offer include HUAWEI AppGallery promotional resources to reach 650 million Huawei device users and more.

- Jury of international experts, entrepreneurs and visionaries including President and CEO of Pakistan Telenor Microfinance Bank / Easypaisa, Mr. Mudassar Aqil

Developers around the world, including Pakistan, are being invited to put their skills to the test on a global stage with the launch of HUAWEI HMS App Innovation Contest, Apps UP with registration now open until the 8^th of October, 2020.

The inaugural contest will see entrants compete against other experienced developers to create innovative apps that improve and help navigate everyday life. Apps UP contest provides a platform for developers in each of the five competition regions: Europe, Asia Pacific, Middle East & Africa, Latin America and China to showcase their skills and innovation.

HMS Core integrates Huawei’s Chipset-Device-Cloud capabilities, providing core capabilities to developers such as Machine Learning Kit, HiAI, AR Engine and more. Developers can easily achieve direct access and global all-scenario intelligence distribution across all devices by integrating their apps with HMS Core.

With AppGallery’s continued growth and position as one of the top three global app marketplace, winners of the Apps UP contest will get the chance to have their apps promoted on HUAWEI AppGallery, making them accessible to hundreds of millions of device users from more than 170 countries and regions, combined with the benefits of AppGallery Connect, providing one-stop service open platform for mobile apps, which help developers innovate and carry out efficient operations.

Prizes and wider benefits also include:

              

- USD 200,000/- total funded by the Shining-Star Program, in cash prizes in the following categories: Best App, Best Game, Best Social Impact App, Most Popular App, Honourable Mention

- Opportunity to compete on a global stage and showcase technical ability using leading HMS Core

- Discussion with industry experts and Apps UP expert judging panel

- Free access to Huawei Developers events, courses and certifications

As part of the global contest launch celebration, Huawei has hosted a virtual live event early July to demonstrate what’s in store for developers. The event was marked with different talks from successful developers from the Middle East sharing their experience with Huawei HMS Core but also talks from Adam Xiao, Managing Director of Huawei Mobile Service in Middle East and Africa and various talks from Giant tech managers in the Arab world notably Ibrahim Hamady the CEO of Arab Hardware.

Examples of the integration with HMS Core showed at the launch event include art app Sketch AR, an application that uses HUAWEI HiAI to create a smarter app for virtual art creation. Another is StorySign, which integrates with Machine Learning Kit and blends image recognition, HUAWEI HiAI Optical Character Recognition (OCR) translate popular children’s books into sign language to ensure deaf children can enjoy story time.

The contest’s preliminary round is set for the 9^th October with a scheduled public voting at the end of the same month and the final winners to be announced in November. For the occasion, Huawei has appointed renowned jury of international experts, entrepreneurs and visionaries including President and CEO of Pakistan Telenor Microfinance Bank / Easypaisa, Mr. Mudassar Aqil.

Commenting on the HUAWEI HMS App Innovation Contest, Apps UP, Mr. Aqil said: “The use of advance technologies is revolutionizing the way individuals; organizations as well as authorities interact or execute daily tasks. Platforms like the Huawei Apps UP Contest provide hidden talents and emerging professionals a chance to showcase their creativity and ability to tackle complex issues. Innovating in a way that it can facilitate end consumers is key to creating an ecosystem that elevates the quality of life for everyone and this is something that we at Easypaisa build on as well.”

How to Enter:

To enter, participants must register an account on the official website: https://developer.huawei.com/consumer/en/digix/appsup  between 13^th July – 8^th October 2020 and sign up either as an individual or as a team of up to three members. All apps must be developed integrating HMS Core and submitted on the contest’s official website on 8th October 2020, where a panel of regional industry experts will score each entry on social value, business value, user experience and originality.

From there, at the stage of public review, the top 20 shortlisted apps in each region will be made available for the public to download on the contest official website or HUAWEI AppGallery from 22^nd October, making their way to the finals in November.

Ready to harness the endless potential of the app world with Huawei? To find out more, visit https://developer.huawei.com/consumer/en/digix/appsup

‘Tax harmonisation issue likely to be resolved within the Q1 of FY20-21’: FS Punjab

 

Business & tax experts examine Punjab’s Budget 20-21, share future-focused recommendations

 

Leading representatives from the business community, professional bodies and government sat together at a high-level virtual post-budget seminar themed 'Economic Impact, Harmonisation and Future Orientation' to examine the Punjab's provincial Budget 2020-21 and identified economic opportunities and shared forward-thinking recommendations.

The online seminar was organised by ACCA (the Association of Chartered Certified Accountants) with representatives from Lahore Tax Bar Association (LTBA), Punjab Revenue Authority (PRA), Institute of Cost Management Accountants of Pakistan (ICMA Pakistan), and Lahore Chamber of Commerce & Industry (LCCI).

Secretary Finance Punjab, Muhammad Abdullah Khan Sumbal, was the Chief Guest at the event who shared the government's perspective and answered the concerns shared by the business community and tax professionals during a one-on-one question and answer session.

The seminar also included a highly interactive, future-focused panel conversation moderated by the Member of ACCA's Global Tax Forum, and the Chair ACCA MNP & Tax Committee, Omer Zaheer Meer FCCA, featuring contributions from following senior Conversation Leaders: Javed Ahmed, Tax Economist, Punjab Revenue Authority (PRA), Kashif Anwar, Chairman - Standing Committee on Taxation, Lahore Chamber of Commerce & Industry (LCCI), Khurram Shahbaz Butt, President, Lahore Tax Bar Association (LTBA), Sajjeed Aslam, Head of ACCA Pakistan, and Zia-Ul-Mustafa, President, ICMA Pakistan

Emphasising on the need for the harmonisation of federal, provincial taxes, ACCA’s head of Pakistan, Sajjeed Aslam stressed,

‘To make it easy for the services sector to keep creating job opportunities for the country’s youth and attract foreign direct investment, there’s an urgent need for policy makers to truly understand the real needs of this sector and provinces need to introduce a mechanism to facilitate the adjustment of tax refunds and bring harmonisation in tax rates across all provinces.’

In his address, Muhammad Abdullah Khan Sumbal, Secretary Finance Punjab, shared,

‘Despite the fact that working in the IMF regime remains challenging that requires significant revenue generation and expenditure management, the Punjab’s budget 2020-21 is business-friendly and forward-thinking and contains inputs from all major stakeholders. The provincial government is determined to support the private sector to enable them to create new jobs, and consistent with Federal government’s efforts, we’re heavily facilitating the construction sector. Considerable efforts are being made to ensure ease of doing business in Punjab. We're the first province to give zero rating to Public Private Partnerships showing our desire to support the private sector. We're working towards broadening of sales tax base and actively engaging with federal and provincial counterparts to ensure harmonisation and cooperation.’ 

The Finance Secretary also shared that the government feels Human Development (HD) is a more effective indicator compared to Economic Growth (EG), therefore social development projects to remain its priority with major investments in education and health.

He also shared his hope that the tax harmonisation issue will be resolved within the first quarter of the current FY and we can expect reaching some level of consensus between federation and provinces to devise a workable framework accommodating different views.  

Javed Ahmed shared that PRA is moving with pace toward digitisation to facilitate taxpayers and is committedly working to remove impediments.

The President of LTBA, Khurram Shahbaz questioned the introduction of regressive measures like attaching credit facilities and encouraged government to actively engage with professionals to ensure progressive legislations.

Representing the business community, Kashif Anwar shared the difficulties that businesses are facing and recommended business-friendly initiatives with focus on providing more value to taxpayers.  

Attendees appreciated the role of ACCA in super-connecting all the stakeholders and facilitating an action-oriented conversation to support policy makers to directly engage with the business community and create a conducive environment for commercial activity and corporate sector innovation.

World’s fastest growing smartphone brand realme releases H1 2020 results

realme, one of the leading smartphone brands globally has just released its H1 2020 figures and statistics. realme reported an 11% growth in Q2 2020, the only major brand to have registered a double-digit positive figure and has been named the fastest growing smartphone brand in the world for four consecutive quarters by Counterpoint. In Q1, Counterpoint also reported that realme was one of the only two brands to have registered positive growth with 157% YoY.

Based on the latest user numbers, realme has added 15M users in the first half of the year. realme reported that it is now a TOP 4 smartphone brand in Thailand, India, Cambodia and Egypt, and also achieved TOP 5 in Myanmar, Philippines, Ukraine, Indonesia and Vietnam, according the Counterpoint Research and IDC.

realme has focused on promoting 5G products in its retail markets, beginning with the X50 Pro 5G. realme has launched the first 5G-capable flagship phone in India, as well as Thailand's first 5G phone. The company has also launched Cambodia's first 5G phone under USD1,000.

In 2020, realme has implemented a 'Smartphone + AIoT' dual-driven strategy. In spite of a challenging economic environment, realme has successfully met targets laid out in this initiative. realme is on track to launch over 50 AIoT products in 2020 and over 100 the following year. In Q1 2020, despite realme being a new entrant into the smart personal audio market in India, it has secured a third place in terms of market share, according to a report by Canalys, a research firm.

realme defines its AIoT strategy as a "1+4+N" initiative, which refers to one core product (smartphones), complemented by four major groups of lifestyle devices (speakers, earphones, TVs and watches) which is in turn supported by "N" types of smart accessories.

realme's CEO, Mr Li Bingzhong, issued the following comments:

• Since 2018, realme has grown to 40M users, and this is due to the strong, youthful and international team here at realme. With an average age of only 29 years old, this team has shown that they dared to leap forward and proved the power of youth in a competitive market.

 

• As we continue to build upon a strong H1 performance, realme is aiming to sell 100m phones in 3 years. We plan to continue our international expansion plans, where we think there will be the most growth.  For example, our AIoT products have been performing well in the Indian market, where we sold 15,000 TV sets within 10 mins and our smart personal audio devices have reached 3rd place in terms of market share within 3 months.

 

• realme has done well in expanding to nearly 60 different countries and regions. As the world’s fastest growing smartphone brand, this is a validation of our mission and strategy to empower youths to ‘dare to leap’ outside of their boundaries.

 

realme's products have also made waves in the design world. In 2020, realme's Design Studio have collaborated with world-renowned designers Naoto Fukasawa and Jose Levy, of Hermes fame to produce trendsetting realme products. In addition, realme has won the prestigious Red Dot Design Award for its X2 Pro Master, issuing a strong challenge to incumbent brands. realme has pioneered innovations not only in design but also in technology, most notably when it launched the world’s first 125W fast charging technology.

Milestones:

• realme grew by 157% in Q1 2020

• realme is the fastest growing smartphone brand globally, according to Counterpoint

• realme has gained more than 15M users in H1 2020

• realme is now active in 59 countries and regions across 5 continents

• realme has achieved at least TOP5 in 9 different markets

 

Governments must take a balance sheet approach to managing their finances through the Covid-19 crisis

 

·       ACCA, the World Bank and IFAC say better financial information and thinking must be applied to help manage public finances

·       Economic indicators need more clarity to provide a better picture of public sector finances in turbulent times

 

The COVID-19 pandemic means government spending has increased immensely, with the IMF calculating it to be a staggering US$9 trillion. For ACCA, the World Bank and IFAC, the concern is that public sector fiscal commitment and interventions are not being captured accurately by governments due to the way they account for this.

 

In a new report published today, Sustainable public finances through Covid-19, the three organisations are calling for governments to use public sector balance sheets to properly manage their finances through the pandemic, paying attention to their public sector net worth. For some, this means a change in accounting methods from cash to accrual accounting.

 

Alex Metcalfe, author of the report and head of public sector policy at ACCA says: ‘This global pandemic crisis could be a catalyst for more governments to adopt this approach, which can improve decision-making, act as the benchmark for new fiscal targets, and support governments to rebuild economies for a more inclusive and greener future.’

 

By implementing a balance sheet approach, governments will benefit from:

-           Increased clarity on the true position of the public finances, with an understanding of the fiscal room available for further government action;

-           Improved value for money and financially sustainable decision-making; and

-           Enhanced public sector resilience and better adoption of key financial metrics to drive performance management.

 

The report asserts that governments need to avoid poor-value privatisations, which provide immediate cash but reduce public sector net worth. Governments also can minimise reliance on tax increases or austerity by taking a balance sheet approach to foster sustainable public finances.

 

Ed Olowo-Okere, Director, Governance Global Practice, World Bank Group says: ‘The pandemic requires that governments strike a balance between the standard fiscal discipline and control on the one hand, and speed and flexibility in public financial management on the other. To build back better, Ministries of Finance need a variety of tools for better management of public money to sustain the wellbeing of citizens.’

 

 

 

 

Alta Prinsloo, IFAC Executive Director, adds: ‘This is about global best practice. No one government can go it alone – the global nature of the pandemic makes this apparent. Part of this drive toward global best practice is to ensure that, as a profession, we discuss with colleagues and policymakers the future of financial reporting in the public sector. Professional accountants need to be giving non-finance expert decision makers a clear and trusted view of the sector’s unfolding financial position.’

 

Sajjeed Aslam, head of ACCA Pakistan, adds: ‘The severity of the current crisis means poor quality accounting data in the public sector is no longer an option. Now is the time to reset current economic frameworks and consider what fiscal rules will guide government decision-making during the recovery phase. The privatisation of any public assets and services needs to be carefully considered so that they provide value for money and improve government financial sustainability. And we also need to invest in skills and training as they are an important part of the economic multiplier.’

 

Other recommendations for governments include:

·       the need to either reference or use full-accrual International Public Sector Accounting Standards (IPSAS), the only globally accepted accounting standards for the public sector, in the production of their general purpose financial reports.

·       directing independent fiscal policy institutions to begin fiscal sustainability reporting or to increase its frequency. Central finance departments should also be required to respond publicly to these reports in a timely manner.

·       provide Supreme Audit Institutions with the independence and necessary resources to conduct performance audits, which may identify cases where public money was not used effectively, efficiently or economically in combatting the COVID-19 crisis.

 

And for finance professionals, ACCA, the World Bank and IFAC recommends:

·       Consider how any redirection of resource to combat COVID-19 impacts broader metrics of societal wellbeing and sustainability.

·       Conduct frequent fiscal stress testing, which forecasts the impact of negative scenarios on public sector balance sheets. This could include the impacts of a second wave of a coronavirus or an extended economic downturn.

·       Produce accessible summary material, and appropriate narrative and notes within the financial statements. The accompanying narrative in financial statements helps users make sense of the figures and should not be too biased or avoid critical issues.

 

Sustainable public finances through Covid-19 includes case studies that analyse the impact of fiscal policies introduced as a result of COVID-19 on the public sector balance sheets in 10 countries: Brazil, Canada, Indonesia, Italy, Japan, New Zealand, South Africa, United Kingdom, and the United States. These show that New Zealand is the most fiscally sound country out of those analysed in the report, with a net worth of 53% of GDP in 2019, compared to the UK government’s net worth of negative 49% of GDP in 2019.

 

This report builds on an ACCA and IFAC report from February 2020 Is Cash Still King? which offers lessons learned from jurisdictions that have implemented accruals, with the intention that the current global transition to accruals creates real value and is more than a ‘compliance exercise’.