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Xiaomi 12 Series Redefines Flagship Category

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Xiaomi 12 Series Redefines Flagship Category

Xiaomi today announced the launch of the all-new flagship Xiaomi 12 Series for local markets, featuring two groundbreaking devices: Xiaomi 12 Pro and Xiaomi 12. Designed to empower users around the world with a cutting-edge videography studio and entertainment powerhouse, Xiaomi 12 Series delivers impressive advancements in Xiaomi’s AI algorithm, flagship processing power, and an all-round elevated experience. 

Capture cinematic shots at any time 

Xiaomi 12 Series enables users to record studio-quality shots no matter the scenario, be it challenging lighting conditions or moving objects. Both phones boast a pro-grade triple camera array for versatile shooting, starring a massive 50MP main wide angle camera, with 8K recording capabilities on both Xiaomi 12 Pro and Xiaomi 12.  Xiaomi 12 Pro stands out with its state-of-the-art triple 50MP array, which features a cutting-edge Sony IMX707 ultra-large main sensor. This sensor is capable of catching large amounts of light and empowers advanced imaging capabilities with faster focus speeds and increased color accuracy. Xiaomi 12 features a 13MP ultra-wide angle camera, along with a 5MP tele macro camera, for filming life from different perspectives.  

Beyond impressive hardware, Xiaomi 12 Pro and Xiaomi 12 also advance Xiaomi’s proprietary AI algorithms. These innovations make it easier than ever for users to record every moment the way they want to, even in low-light or moving subjects. Xiaomi ProFocus intelligently identifies and tracks objects, preventing blurring or out-of-focus shots of moving or veiled subjects. These advancements also include eye and face auto focus capabilities. Ultra Night Video uses Xiaomi’s proprietary algorithms to record video even under extreme low-light, meaning moody, atmospheric shots are clearer than ever.  

Available on both devices, One-click AI Cinema offers numerous creative options for show-stopping video editing, such as Parallel World, Freeze Frame Video, and Magic Zoom modes. 

Flagship processing, unprecedented performance and power-efficiency  

Flagship experience requires flagship performance. Xiaomi 12 Series features advanced Qualcomm® Snapdragon™ mobile platforms. Xiaomi 12 Pro and Xiaomi 12 boast a Snapdragon® 8 Gen 1 processor – Qualcomm’s most advanced mobile platform. Built on a 4nm process, this processor also boosts GPU graphic rendering capabilities by 30% and energy efficiency by 25% when compared to the previous generation. Both three devices come with UFS 3.1 exceptional loading and data transfer speeds, along with LPDDR5 RAM for memory speeds up to 6,400Mbps. For optimal product experience, Xiaomi 12 Series packs a high-performing cooling system, bolstered by a super-large vapor chamber and multiple layers of graphite to offer a leading–cooling capability. 

All-around elevated entertainment experiences 

Xiaomi 12 Series not only lets users capture every moment in exquisite detail, but also allows them to relive those moments in astonishing detail via an exceptional entertainment experience.  Both devices offer vivid viewing on an AMOLED Dot Display rated A+ by DisplayMate, and with TrueColor support. For added peace of mind, the display features scratch-resistant Corning® Gorilla® Glass Victus®, and supports Dolby Vision®, industry’s leading imaging technology that brings your content to life with vibrant color and details. Xiaomi 12 Series also supports HDR 10+. Xiaomi 12 Pro is SGS Eye Care Display Certified, showing care for users’ long-term visual health during marathon sessions.  

Meanwhile, Xiaomi 12 Pro redefines flagship display with incredibly smooth viewing, scrolling, swiping, and sliding. The device’s highly power-efficient 6.73-inch WQHD+ display leverages AdaptiveSync Pro to intelligently adjust dynamic LTPO display between 1Hz and 120Hz based on content. 

Xiaomi 12 delivers Xiaomi’s most colorful smartphone display to date, with more than 68 billion colors on 6.28-inch full-HD+ displays. Both feature 120Hz AdaptiveSync, for an impressively high-definition, vibrant, and flicker-free display that conveys every detail.  

 No cinematic experience is truly complete without pro-grade audio. Xiaomi 12 Series features SOUND BY Harman Kardon, and creates an immersive audio experience powered by Dolby Atmos®, delivering spatial sound with rich detail, clarity, and realism across all your favorite entertainment. Xiaomi 12 Pro’s quad speakers – in the form of two tweeters and two woofers – deliver clear details and cover an astounding range of sound. Xiaomi 12 delivers balanced stereo sound ideal for immersive gaming or video.  To optimize core user experience further, Xiaomi 12 Series incorporates MIUI 13, released globally earlier this year. The update includes faster storage, higher background process efficiency, smarter processing, and longer battery life. New features in the upgraded experience include Xiaomi’s proprietary Liquid Storage, Atomized Memory, Focused Algorithms, and Smart Balance. 

Next-generation charging 

Xiaomi 12 Series delivers pro-grade cinematic and entertainment experiences all day, the devices deliver next-level charging speed and safety.  

 Xiaomi 12 Pro features an incredibly fast 120W Xiaomi HyperCharge. With a 4,600mAh battery fully charged in just 18 minutes using Boost mode, Xiaomi 12 Pro delivers next-generation charging capabilities that keep up with user demands.  Xiaomi 12 fits a 4,500mAh battery into compact body designs. Xiaomi 12 Pro and Xiaomi 12 also support 50W wireless charging and 10W reverse charging.  Both leverage Xiaomi AdaptiveCharge, a smart charging algorithm that learns and adapts to charging habits, which prolongs battery life. 

Flagship capabilities packaged in an iconic design  

These portable pocket-sized studios fit comfortably in the palm of your hand thanks to Xiaomi 12 Series’ iconic and user-centered design. Slimmer high-capacity batteries and a narrower ridge gap save precious space within the device. Xiaomi 12 Pro’s 6.73-inch display is encased in a sleek middle frame with sophisticated 3D curves. Meanwhile, Xiaomi 12’s 6.28-inch display measures just 69.9mm in width and is accented by smooth curves for a perfect fit. Both devices are available in Gray, Purple, and Blue. 

Market Availability   

Xiaomi 12 Pro comes in one variant 12GB+256GB, and recommended retail price starts from PKR 208,999/-.

Xiaomi 12 comes in one variant, 12GB+256GB, and recommended retail price starts from PKR 179,999/-.

Purchase these devices and get a sweet bundle deal where you get a Mi Band 6 and a bag with the Xiaomi 12. Similarly with the Xiaomi 12 Pro, get a Mi Portable Bluetooth Speaker and a 10000mAh Mi Power Bank 3.  Available at top distributor partners such as Phonezo, Airlink, Smartlink etc. For those looking to purchase these online, we’ve news for you  too as these are also available on MiStore and Daraz. 

Quick Specs:

 Xiaomi 12Xiaomi 12 Pro
Display120Hz +  AMOLED DotDisplay120Hz 6.73” AMOLED Dot Display 
Rear Camera50MP main camera 13MP ultra-wide camera 2MP macro camera 5MP depth camera50MP wide angle, ultra-wide and tele macro camera
Front Camera32MP32MP in-display selfie camera
Dimension & Weight152.70mm x 69.90mm x 8.16mm – 180g163.60mm x 74.60mm x 8.16mm 205g
ProcessorSnapdragon ® 8 Gen 1Snapdragon ®r 8 Gen 1
Charging4500mAH – 67W charge4600mAH – 120W charge
Variant12GB + 256GB12GB + 256GB
Color AvailableGray, Purple & BlueGray, Purple & Blue

About Xiaomi Corporation  

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.  

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.  

Xiaomi is one of the world’s leading smartphone companies. The company’s market share in terms of smartphone shipments ranked no. 3 globally in the third quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, more than 400 million smart devices connected to its platform as of September 30, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places compared to 2020.  

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index. 

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TECNO to launch its new Spark phone in Pakistan soon

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TECNO to launch its new Spark phone in Pakistan soon

TECNO to launch its new Spark phone in Pakistan soon

After massive success in the Pakistani Mobile market, TECNO is rumored to be preparing for a new addition to its Spark series. The globally eminent smartphone brand TECNO has been working tirelessly in Pakistan for quite some time now. The brand has brought forward some great phones over the years with advanced technologies, pocket-friendly prices, and stylish designs. 

Spark is TECNO’s famous mid-range series, bringing you quality devices at lower prices. Spark 8C is an entry mobile that is expected to be around PKR 19,499 to PKR 22,999. The price is not confirmed yet but we are expecting it around this segment. The phone is going to be a stunner in this range with Stylish Design and great Battery.

According to sources, Spark 8C will be equipped with better memory and memory fusion features than any other phone in this range. Memory Fusion Technology is specially designed to channel RAM operations by using unused read-only memory (ROM). This means it can expand the memory of 4+128GB to 7+128GB and that of 3+64GB into 6+64GB maximum. The RAM can be updated or expanded from 3GB to 6GB and 4GB to 7GB depending on the variant. If this is true, then Spark 8C shall be the only smartphone to provide such an amazing feature with 128GB in such an affordable price range.

Moreover, the phone is anticipated to provide efficient performance with a powerful processor and big battery. The 90Hz refresh rate, great display, and handy body design will make it a user-friendly device. The phone is expected to launch somewhere in mid-March 2022. Furthermore, the phone is being assembled in Pakistan to make it economical and pocket-friendly for the local consumers. 

So, fingers crossed for this new Spark device to be soon launched in Pakistan. Stay tuned for more updates and much more about tech!

Jazz appoints Atyab Tahir as CEO JazzCash

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Jazz appoints Atyab Tahir as CEO JazzCash

Jazz appoints Atyab Tahir as CEO JazzCash

Jazz, Pakistan’s leading digital operator (part of VEON Group NASDAQ: VEON, Euronext Amsterdam: VEON), announces the appointment of Atyab Tahir as the CEO of JazzCash effective May 1 2022.

Atyab, currently serving as Country Manager MasterCard Pakistan & Afghanistan, has over two decades of international experience in banking and consulting. Atyab has also held senior positions at Fidelity Investments, HBL, Telenor Bank and easypaisa. He holds a BA from Dartmouth College and an MBA from Babson College.

Commenting on Atyab’s appointment Aamir Ibrahim, CEO, Jazz  said: “While mobile phones and payment solutions have accelerated financial inclusion in the country, a significant portion of Pakistan’s adult population remain unbanked. I am confident that under Atyab’s dynamic leadership JazzCash will help boost financial inclusion across the board through innovative and customer-centric products.”

“JazzCash is at the forefront of Pakistan’s digital revolution processing more than 5 million transactions every day and accounting for almost 7% of Pakistan’s GDP. Our aim is to build a world-class fintech serving every single Pakistani, from youth, SMEs, freelancers, with a very strong focus on the unbanked and the underbanked. I look forward to joining the Jazz family and collaborating with our partners in the telecommunications and financial services sector to unlock the true potential of Digital Pakistan.” said Atyab.

A division of Jazz, JazzCash has grown rapidly to become a leader in the country’s marketplace for digital financial services. As shown in VEON Group’s FY21 results that were released on 28 February 2022, JazzCash has 15.2 million monthly active users (+24.9% YoY) and 130,800 monthly active merchants (up by 2.3 times YoY). 

Jazz appoints Atyab Tahir as CEO JazzCash.

vivo V23 5G — The Best in Camera, Technology, Performance and Appearance

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vivo V23 5G — The Best in Camera, Technology, Performance and Appearance

Due to the constant development in the technology space for smartphones, there is always hype surrounding any new ‘firsts’ in the market. There is always excitement as to what will be introduced and how well it will be accepted by the audience. 

Keeping this in mind, Vivo’s latest smartphone vivo V23 5G finds itself in a similar situation. The day it was announced, it received a lot of attention for its color-changing design. The design itself represents a significant advancement in smartphone research and design. Making smartphones not only technologically superior but also cosmetically superior is a step forward.

The continual excitement and experience since the smartphone’s launch has not only solidified its market position but also demonstrated that it is a well-balanced phone that isn’t only focused on aesthetics.

Delving more into the device, the vivo V23 5G dons a high-resolution 50MP AF Portrait Selfie camera on the front. This device focuses heavily on the selfie experience which makes it stand out in the market. The latest ISOCELL 3.0 technology helps the camera increase light sensitivity to capture a more crystal-clear picture for the user. Furthermore, the Eye Autofocus feature enables the users to be the center of attention while clicking the picture as the camera focuses on the user, even if they are in motion. 

The dual front camera system offers a much larger field of view with the help of its 8MP Super Wide-Angle Camera. Furthermore, with modes like the AI Extreme Night Portrait mode, the front camera delivers an unparalleled experience in this price range. The phone also sports a 64 MP main rear camera with an 8MP wide-angle lens and a 2MP Macro that can handle wide natural landscapes very easily. The user experience is further increased with features like the Super Night Mode, Bokeh Flare Portrait, and Ultra Stabilization. It is only right to say that both, the front camera and the rear camera together offer a device that is picture-perfect. 

When it comes to the visual and performance aspects of this phone, there’s no doubt that it’s the best of what vivo has to offer. vivo has always been on the cutting edge of device design and aesthetics. It’s also fair to say that Vivo takes pride in its technological advancements and innovations. Every device that vivo introduces exemplifies this completion.

V23 5G brings out the result of Vivo’s extensive research which is the Color Changing Fluorite AG Design. This material changes its color upon exposure to ultraviolet light and after about 30 seconds under the sun. This switch goes back to normal once the phone is out of sun exposure. Talking more about the appearance of the device, it is the combination of the Metal Flat Frame Design and the Color Changing Fluorite AG Design that gives the device the aesthetic appeal that has been the talk in the industry for a while now. 

All these powerful features that the phone flaunts are powered by the powerful MediaTek Dimensity 920 processor. This processor offers powerful performance and a fast user experience. The Extended RAM 2.0 further enhances the user experience with its versatile features to expand RAM when required. The 90Hz refresh rate display, a Liquid Cooling System, and Ultra Game Mode make it possible for users to enjoy super smooth gameplay performance. This experience is mutually assisted by the 4200mAh battery that features a 44W FlashCharge that helps in interrupted experience and performance. 

To summarise it all, the vivo V23 5G is a proud and well-balanced device that fulfills the requirements of every smartphone enthusiast whether it is for work, casual, or professional usage.

 

Tech Giant XIAOMI launches anticipated Redmi Note 11 Pro – Packing major upgraded to hardwares & software!

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Tech Giant XIAOMI launches anticipated Redmi Note 11 Pro – Packing major upgraded to hardwares & software!

Xiaomi announced the Redmi Note 11 Pro for Pakistani markets, pushing forward the legacy of the Redmi Note series with two all-new devices: Redmi Note 11 Pro and Redmi Note 11. Rising to the challenge to bring even stronger specs and features, Redmi Note 11 series packs powerful upgrades to its camera system, charging speed, display, and SoC—making flagship-level smartphone performance more accessible than before. All this available in a bundle deal, with Redmi Buds 3 completely free.

Flagship-level 108MP quad camera to deliver outstanding photography

Boasting a rear quad camera setup, Redmi Note 11 Pro delivers an outstanding photography experience with zero compromise. Its 108MP main camera captures stunning images in high-resolution and vivid colors; an 8MP ultra-wide angle camera extends your perspective with a 118-degree viewing angle; a 2MP macro camera that captures fine details up close and a 2MP depth sensor that’s for capturing more natural looking portrait shots. Accenting the front of the phone is a 16MP front camera that can capture clearer and natural-looking selfies. The 108MP pro-grade main camera utilizes the Samsung HM2 sensor with a large sensor size at 1/1.52 inch, and supports 9-in-1 pixel binning technology as well as a dual native ISO to deliver incredible images in all lighting conditions, with spectacular results especially in dim light.

120Hz FHD+ AMOLED DotDisplay packed into trendy flat-edge body

Featuring a large 6.67′ FHD+ AMOLED DotDisplay with 120Hz display refresh rate, Redmi Note 11 Pro levels up the screen experience with smooth scrolling response and lag-free transitions. The beautiful display is packed into a body with a trendy flat-edge design. Plus, with the dual super linear speakers located at the top and bottom of the phone, Redmi Note 11 offers immersive stereo sound for gaming or watching videos.

Performance powered by 67W turbo charging and MediaTek Helio G96

Redmi Note 11 Pro comes with flagship 67W turbo charging, allowing you to charge up

to 51% of its 5,000mAh high capacity battery in just 15 minutes Powered by MediaTek Helio G96, Redmi Note 11 Pro also delivers a smooth and seamless performance.

Market availability:

Redmi Note 11 Pro comes in two variants – 6GB+128GB, and 8GB+128GB and are available at top distributor partners such as Phonezo, Airlink Communication, Smartlink and Tech Sirat. For those looking to purchase these online, we’ve news for you  too as these are also available on MiStore.

Redmi Note 11 Pro

6GB+128GB: PKR 51,999/-

8GB+128GB: PKR 59,999/-

Redmi Note 11 Quick Specs:

 Redmi Note 11
Display120Hz  6.67” FHD+ AMOLED DotDisplay
Rear Camera108MP main camera 8MP ultra-wide camera 2MP macro camera 2MP depth camera
Front Camera16MP in-display front camera
Dimension & Weight164.19mm x 76.1mm x 8.12mm 202g
ProcessorMediaTek Helio G96
Charging5,000mAh (typ) battery Supports 67W wired Pro fast charging
Variant6GB+128GB, 8GB+128GB
Available ColorGraphite Gray, Polar White, Star Blue

The Redmi Note 11 Pro is available at PKR 51,999/- for the 6+128GB variant and PKR 59,999/- for the 8+128GB variant. A bundle deal with Redmi Buds 3 absolutely free!

About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the Coolest Company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. The company’s market share in terms of smartphone shipments ranked no. 3 globally in the third quarter of 2021. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, more than 400 million smart devices connected to its platform as of September 30, 2021, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2021, the company made the Fortune Global 500 list for the third time, ranking 338th, up 84 places compared to 2020.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

Feels Like PIA Is Getting Special Treatment

Usman Yaqoob
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Feels Like PIA Is Getting Special Treatment

Pakistan International Airlines (PIA) has always been a major name in the country’s aviation sector. For many years, it was seen as a symbol of national pride. However, over time, the airline faced serious financial problems, weak management, heavy losses, and growing debt. Because of these issues, the government had to spend large amounts of public money to keep the airline running.

Now, as PIA moves through a major reform and privatisation process, many people are asking an important question: Is PIA getting special treatment that other companies and businesses would never receive?

This question is not without reason. PIA has received government support for years. It has benefited from debt restructuring, financial help, regulatory relief, and other steps aimed at keeping the airline alive and making it more attractive to private investors. While some experts believe these steps were necessary to save an important national company, others feel that PIA was given advantages that ordinary businesses could only dream of receiving.

The debate is not simply about whether PIA should have been saved. It is also about fairness. If one company receives special help because it is large or important, what does that mean for other businesses that are also facing financial pressure?

A Long History of Financial Support

PIA did not reach its current situation overnight. The airline had been facing financial difficulties for many years. Its problems included high costs, weak business decisions, management issues, old financial burdens, and increasing competition from private airlines.

Instead of being allowed to fail like an ordinary private business, PIA continued receiving support from the government. Since the airline was owned by the state, the government had a direct interest in keeping it operational. However, the money used to support the airline ultimately came from public resources.

This created an unusual situation. A private company that repeatedly fails to pay its debts can face serious action from banks and other institutions. Its assets may be taken, its loans may be classified as bad debts, and it may eventually close down.

PIA, however, was treated differently because of its importance as the national flag carrier.

The airline continued operating despite major financial problems. Over the years, taxpayers carried much of the burden. Critics argue that this created a system where PIA could avoid the full consequences of poor financial performance.

Supporters of the airline, on the other hand, say that PIA was too important to simply shut down. It connected Pakistan with international destinations, provided jobs to thousands of people, and remained a national symbol.

Still, the main concern remained the same: how much support is too much?

Regulatory Relief Raised New Questions

One of the biggest reasons people believe PIA received special treatment is the regulatory relief connected with its banking exposure.

According to official competition and aviation assessments, banks were given additional regulatory flexibility while PIA’s loans and restructuring arrangements were being handled. Such steps helped prevent immediate pressure that could have made the airline’s financial situation even more difficult.

For a normal private company, delayed loan payments can quickly create serious problems. Banks have rules regarding loans that are not being paid on time. These rules are designed to protect the banking system and ensure that financial institutions properly report risky loans.

However, in PIA’s case, special arrangements were made because the government was working to restructure the airline and transfer its financial burden as part of the privatisation process.

This may have been necessary from a practical point of view, but it also created concerns about equal treatment.

If a small or medium-sized Pakistani company had similar financial problems, would it receive the same level of patience and flexibility?

Most people would probably say no.

This is where the idea of special treatment becomes stronger. Large state-owned companies often receive support that private businesses cannot access. The government may argue that these companies are strategically important, but critics say that this creates an unfair business environment.

Taxpayers Paid a Heavy Price

Another major issue is the amount of public money and support linked with PIA’s restructuring.

Before the airline could be sold, much of its financial baggage had to be separated from the main operating company. This made the airline cleaner and more attractive to potential investors.

But the question is simple: who carried the old burden?

A large part of it was moved away from the business being sold, meaning the state remained responsible for dealing with previous debts and liabilities. In simple words, the new business structure could move forward with a lighter burden, while taxpayers were left connected to the financial problems created over many years.

This is one of the biggest concerns surrounding PIA’s special treatment.

If a private company builds up huge losses, its owners and investors normally carry the consequences. The government does not usually step in to remove hundreds of billions of rupees in liabilities just to make the company attractive for sale.

PIA’s situation was different because it was a state-owned enterprise.

Supporters say there was no easy alternative. If the government had not cleaned up the airline’s financial position, no serious investor may have wanted to buy it. In that case, PIA could have continued making losses and requiring more public money.

Critics respond that taxpayers were still forced to pay for the mistakes of the past.

Therefore, even if privatisation was the right decision, many Pakistanis are still asking whether the process was fair to the public.

Was Privatisation the Only Option?

After years of failed attempts, PIA’s privatisation finally moved forward. The government presented the process as an important reform for Pakistan’s economy and the wider state-owned enterprise sector.

The basic idea was simple: the government should not continue running a business that had become a major financial burden. A private owner would hopefully improve management, reduce waste, increase efficiency, and run the airline on commercial grounds.

In theory, this makes sense.

A private company usually has a stronger reason to control costs and improve service because its survival depends on performance. If the business does not make money, the owners suffer.

However, privatisation does not automatically solve every problem.

The real question is whether the airline will now compete fairly with other companies or whether it will continue receiving benefits because of its special position.

This is where strong rules and proper oversight are necessary.

If PIA becomes privately managed but continues receiving advantages that other airlines do not receive, then the market may still not be fair. A genuine private business should succeed because it offers better service and runs its operations efficiently, not because it receives special government support.

Other Airlines Also Face Major Challenges

Pakistan’s aviation sector is already highly competitive. Private airlines also face high fuel costs, taxes, expensive aircraft leases, currency problems, and regulatory requirements.

Unlike PIA, many of these companies do not have decades of government backing behind them.

This is why special treatment can become a serious competition issue.

If one airline receives easier financing, government support, special relief, or other advantages, competing companies may be placed at a disadvantage. Over time, this can damage competition and reduce the pressure on companies to improve their services.

A healthy aviation market needs equal rules for everyone.

PIA should be able to compete, but so should other airlines. The government’s role should be to create a fair environment instead of protecting one company.

The future success of Pakistan’s aviation sector depends on better competition, improved passenger services, and responsible regulation.

No airline should survive simply because of political influence or government connections.

The Government’s Point of View

The government can also make a strong argument for the steps taken to support PIA.

The airline was not an ordinary business. It was Pakistan’s national flag carrier and had international routes, employees, aircraft, and a long history.

Allowing the airline to suddenly collapse could have created serious problems. Thousands of jobs could have been affected, passengers could have faced disruptions, and Pakistan’s international aviation presence could have suffered.

The government was also trying to complete a difficult restructuring and privatisation process. To attract investors, the company needed to be placed in a position where it had a realistic chance of survival.

From this point of view, the special support was not a reward. It was an attempt to fix a problem that had become too large to ignore.

There is some truth in this argument.

However, even necessary support should have limits.

The public deserves to know exactly how much money was spent, what financial relief was provided, and whether the final deal will truly reduce future costs for taxpayers.

Transparency is important because PIA’s past problems were built over many years.

Special Treatment Can Create a Dangerous Example

The biggest concern is not only about PIA. It is also about the message this situation sends to other state-owned companies.

If a public company knows that the government will continue providing financial support, there may be less pressure to improve management.

This can create what economists often describe as a “soft budget” situation. In simple words, a company may take greater risks or ignore financial discipline because it expects someone else to cover the losses later.

Pakistan has several state-owned enterprises that have faced financial problems.

If PIA receives major relief, people may ask why the same rules should not apply to every other loss-making public company.

But that would create an even bigger burden on taxpayers.

Pakistan cannot afford a system where failing companies continue receiving unlimited support. Public money should be used carefully, especially at a time when ordinary citizens are already dealing with inflation, taxes, and economic pressure.

State-owned companies need stronger accountability.

Management must be held responsible for poor decisions. Boards should not simply enjoy benefits while losses continue growing. Governments should also act earlier instead of waiting until a company reaches a crisis.

The Real Test Starts Now

The true test for PIA will begin after the ownership and management transition is completed.

If the airline becomes more efficient, improves its service, expands its network, and competes fairly, then the difficult restructuring process may eventually prove successful.

However, if PIA continues depending on special advantages, the old problems may simply return in a new form.

A successful PIA should not need constant protection.

It should be able to earn passenger trust through better service, reliable schedules, competitive prices, and professional management.

The new owners and management will also need to deal with public expectations. People want to know whether the airline can truly change.

Employees will want job security. Passengers will want better service. Competing airlines will want a fair market. Taxpayers will want assurance that they will not again be asked to carry the cost of future losses.

These are all reasonable expectations.

Fair Competition Must Be the Goal

The PIA story is a reminder that government support can sometimes be necessary, but it should not become permanent.

A country cannot build a strong economy if some companies follow one set of rules while everyone else follows another.

Special treatment may help solve a short-term crisis, but long-term success requires fair competition and strong accountability.

If PIA was given special relief only to complete a one-time restructuring and remove years of financial damage, there may be a practical reason for it. But if the airline continues receiving unfair advantages in the future, serious questions will remain.

Pakistan needs successful companies, whether they are private or formerly state-owned. But success should come from better management and stronger business performance.

PIA’s future should not depend on government bailouts or special financial arrangements. The airline now has an opportunity to prove that it can survive on its own strength.

Conclusion

The feeling that PIA has received special treatment is understandable. The airline has benefited from years of government support, financial restructuring, and regulatory relief that many ordinary businesses would never receive.

At the same time, PIA was not a normal company. Its size, national importance, large workforce, and financial crisis made its situation difficult.

The government had to choose between continuing to support a loss-making airline or taking major steps to prepare it for private ownership.

The real issue is what happens next.

If the special support was limited to cleaning up the past and creating a fair chance for a fresh start, then it may be defended as a necessary step. But from now on, PIA should operate under fair and equal business rules.

No more unlimited bailouts. No more protection from the consequences of poor management.

PIA has already received a major opportunity to rebuild itself. Now, it must prove that it deserves its place in Pakistan’s aviation sector through better performance, strong management, and fair competition.

That is the only way to ensure that the airline’s new chapter does not become another example of special treatment at the expense of the Pakistani public.

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SBP Allows Banks to Finance Up to 90% of Property Value

Usman Yaqoob
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SBP Allows Banks to Finance Up to 90% of Property Value

The State Bank of Pakistan (SBP) has made an important move that can make it easier for people to buy or build their own homes. Under the latest housing finance support, banks and other participating financial institutions can provide financing of up to 90 percent of a property’s value. This means a buyer may need to arrange only 10 percent of the total property cost from their own pocket, while the remaining amount can be financed through a bank loan, subject to eligibility and the terms of the scheme.

The decision is aimed at making home ownership more possible for ordinary Pakistanis, especially people who find it difficult to arrange a large down payment. For many families, buying a house has become extremely expensive because property prices and construction costs have increased over the years. Even when people have a stable income, arranging a large amount of money in advance can be a major challenge.

By allowing financing of up to 90 percent of the property value, the banking sector may be able to offer greater support to eligible homebuyers. The move is expected to improve access to housing finance and help more people move closer to their dream of owning a home.

The 90:10 loan-to-value structure is also part of Pakistan’s wider efforts to support affordable housing. Under the government-backed housing finance framework, eligible first-time homeowners can receive financing for buying a house or flat, constructing a house on an already owned plot, or purchasing a plot and building a house on it.

What Does 90 Percent Property Financing Mean?

The new arrangement is simple to understand. If a property has a value of Rs. 1 crore, a bank may provide financing of up to Rs. 90 lakh. The buyer would then generally need to arrange the remaining Rs. 10 lakh as their own contribution.

However, receiving 90 percent financing does not mean that every applicant will automatically get the maximum amount. Banks will still look at several factors before approving a loan. These can include the applicant’s income, repayment ability, credit record, age, employment or business details, and the value of the property.

The actual loan amount can therefore be lower than 90 percent, depending on the applicant’s financial position and the bank’s internal policy.

Still, the biggest benefit of this arrangement is that people may no longer need to arrange a very large down payment. For many middle-class families, saving 20 or 30 percent of a property’s value can take several years. Reducing the required personal contribution to 10 percent can make the process easier for eligible buyers.

A Major Step for First-Time Homebuyers

Buying a first home is often one of the biggest financial goals in a person’s life. Unfortunately, rising land prices, expensive houses and high construction costs have made home ownership difficult for many people in Pakistan.

A large number of families live in rented houses for years because they are unable to arrange enough money to buy property. Even people with regular jobs often face problems when banks require a large initial payment.

The higher financing limit can provide some relief to such families. Instead of arranging a large amount before applying for a loan, eligible buyers may only need to arrange 10 percent of the property value.

This can be especially useful for first-time homeowners who have a stable monthly income but limited savings. The policy focuses on helping people who do not already own a housing unit and are looking to buy or build their first home.

Support Under Affordable Housing Finance

The 90 percent financing structure is linked with Pakistan’s efforts to promote affordable housing. Under the Mera Ghar – Mera Ashiana scheme, first-time homeowners can receive financing for different housing needs.

The scheme covers the purchase of a house or flat, construction of a house on a plot already owned by the applicant, and the purchase of a plot along with construction.

The housing unit size under the scheme is limited to houses of up to five marlas and flats or apartments of up to 1,360 square feet. The financing is available through commercial banks, Islamic banks, microfinance banks and the House Building Finance Company.

The financing structure includes two loan categories. The first category offers loans of up to Rs. 20 lakh, while the second category covers loans above Rs. 20 lakh and up to Rs. 35 lakh. The maximum loan period can be up to 20 years, although the subsidy period is limited under the scheme’s terms.

Why the 90:10 Ratio Matters

The loan-to-value ratio, also known as LTV, is an important part of housing finance. It shows how much of a property’s value can be covered through a loan.

A 90:10 ratio means that the bank can finance up to 90 percent of the approved property value, while the customer contributes the remaining 10 percent.

For example, if an approved property is valued at Rs. 50 lakh, the maximum financing under a 90 percent structure could be Rs. 45 lakh. The buyer would need to arrange the remaining Rs. 5 lakh, along with any other costs that may apply.

The arrangement can reduce the financial burden at the start of the home-buying process. However, applicants should remember that property valuation plays an important role. A bank may finance the loan based on its approved valuation of the property, which may not always be exactly the same as the seller’s asking price.

Therefore, buyers should carefully understand how their bank will calculate the property value before finalising a purchase.

Banks Will Still Check Repayment Capacity

Although the financing limit has increased, banks are not expected to approve loans without checking the borrower’s ability to repay.

The bank will examine the applicant’s financial position and monthly income. It will also consider other loans and financial responsibilities. The purpose is to make sure that the borrower can manage the monthly instalments without facing excessive financial pressure.

Under recent facilitation measures for the housing programme, total monthly payments for housing finance and other consumer loans should not go beyond the specified limit of the applicant’s net disposable income.

This is important because home loans are usually long-term financial commitments. A person may have to make monthly payments for many years. Before applying, customers should carefully calculate their income, household expenses and other financial responsibilities.

Taking the largest possible loan may not always be the best choice. Borrowers should choose an amount that they can comfortably repay even if their personal expenses increase in the future.

Easier Property Assessment Process

The State Bank has also taken steps to make the housing finance process smoother.

For properties with a market value of up to Rs. 50 lakh under the relevant programme, banks and the House Building Finance Company can use their own internal resources to assess the property. Properties with a value above Rs. 50 lakh require assessment by at least one approved valuator.

This may help reduce delays in the approval process, especially for lower-value properties covered by the programme.

The updated instructions also require banks and the House Building Finance Company not to take more than 15 working days for the credit approval process after receiving a complete application with all required information.

For applicants, this can be an important improvement. In the past, lengthy approval processes were often a major concern for people applying for housing finance. Faster processing can help buyers plan their property purchase more effectively.

Benefits for Pakistan’s Property and Construction Sectors

The decision may also support the wider economy.

Housing is closely connected with many other industries. When more houses are built, demand can increase for cement, steel, bricks, paint, electrical equipment, tiles, furniture and many other products.

The construction sector also creates jobs for engineers, architects, masons, plumbers, electricians, painters and daily-wage workers. Because of this connection, growth in housing finance can support business activity in many areas.

The State Bank has previously highlighted the important role of housing and construction in economic development and employment generation.

If more eligible people are able to access bank financing, demand for homes and construction activity could increase. However, the overall impact will also depend on interest rates, property prices, construction costs and people’s ability to repay loans.

What Applicants Should Keep in Mind

People planning to apply for housing finance should not focus only on the 90 percent figure. A loan comes with a long-term financial responsibility.

Before applying, buyers should compare different banks and ask about the markup rate, monthly instalment, loan period, processing requirements, insurance or takaful charges where applicable, legal costs and other possible expenses.

They should also confirm whether the property they want to buy meets the bank’s requirements. The bank may check legal documents, ownership records and approvals from the relevant authorities before financing the property.

Applicants should also remember that the 10 percent contribution is not always the only amount they may need to arrange. There can be other costs linked with buying or registering a property.

These may include taxes, transfer fees, documentation charges and other expenses. The exact amount can depend on the type and location of the property.

Islamic Banks Can Also Participate

The affordable housing programme is not limited to conventional banks. Islamic banks are also included among the participating financial institutions.

This is important for people who prefer Shariah-compliant financing. Eligible applicants can explore the available Islamic housing finance options and compare them with conventional bank products.

Microfinance banks and the House Building Finance Company are also part of the programme, which may give customers more choices when looking for housing finance.

More participating institutions can help improve access to housing finance across different parts of the country.

A Positive Development for Future Homeowners

Allowing banks to finance up to 90 percent of a property’s value is a positive step for eligible Pakistanis who want to own a home but struggle to arrange a large down payment.

The change can make the first stage of buying a home less difficult. Instead of saving a very large percentage of the property price, eligible borrowers may be able to begin with a smaller personal contribution.

At the same time, responsible borrowing remains extremely important. A home loan should be taken only after carefully understanding the monthly payment, markup terms and total financial cost.

People should avoid making decisions based only on the fact that they can receive up to 90 percent financing. The right loan is one that matches a family’s income and long-term financial situation.

With proper planning, the new financing structure can help more Pakistanis move from rented homes towards home ownership. It can also provide support to the construction and property sectors, creating wider economic activity and employment opportunities.

For first-time homebuyers who meet the required conditions, the opportunity to receive up to 90 percent financing could bring the dream of owning a home closer to reality. The policy shows a continued effort to improve access to formal housing finance and make affordable home ownership more possible for ordinary families across Pakistan.

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Pakistan Seeks $10 Billion US Lifeline to Support Rupee and Economy

Usman Yaqoob
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Pakistan Seeks $10 Billion US Lifeline to Support Rupee and Economy

Pakistan is looking for a major financial lifeline from the United States as the country continues efforts to strengthen its economy and reduce pressure on the Pakistani rupee. Islamabad has reportedly asked Washington for a $10 billion exchange stabilisation facility that could help improve foreign exchange reserves, support the currency and reduce the country’s dependence on emergency financial support from other sources.

The request comes at an important time for Pakistan. Although the country has made progress under its International Monetary Fund programme, its economy is still vulnerable to external shocks, regional tensions and pressure on foreign exchange reserves. A large financial facility from the United States could give Pakistan additional support and improve confidence in its economy if the proposal is approved.

The move also shows that Pakistan is trying to use its improved diplomatic position to build stronger economic relations with Washington. In recent months, Pakistan has played an important role in regional diplomacy, creating hopes in Islamabad that closer ties with the United States could also bring economic benefits.

Pakistan Requests $10 Billion Support Facility

According to reports, Pakistan has asked the United States to create a Bilateral Exchange Stabilization Support Facility worth $10 billion. The proposed arrangement could have a maturity period of up to five years.

The request was reportedly presented during discussions between Pakistan’s Finance Minister Muhammad Aurangzeb and US Treasury Secretary Scott Bessent in Washington. The proposed facility is aimed at giving Pakistan stronger financial support at a time when the country is still working to rebuild its economy and foreign exchange reserves.

If approved, the facility could act as an important financial backup for Pakistan. It could help the country manage pressure on its reserves and reduce the risk of sudden problems in the foreign exchange market.

The United States has not publicly announced that it will approve the request. Reports said the US Treasury declined to comment on the proposed facility, while Pakistan’s Finance Ministry also did not provide detailed public information about the request at the time of the reports.

However, the proposal itself has attracted major attention because of its size and possible impact on Pakistan’s economy.

Why Pakistan Needs More Financial Support

Pakistan has made progress in recent years after facing one of the most serious economic crises in its history. The country came close to a default in 2023 before receiving emergency support through an IMF programme.

Later, Pakistan secured a larger $7 billion programme from the IMF. The country also received separate financial support aimed at improving its ability to deal with climate-related challenges and natural disasters.

These programmes helped Pakistan avoid a major financial collapse and provided important support to the economy. However, the country still faces several serious challenges.

Pakistan’s foreign exchange reserves remain important because the country needs dollars and other foreign currencies to pay for imports, repay foreign debt and meet other international financial obligations. When reserves become low, pressure can increase on the rupee.

A weaker rupee can make imported goods more expensive. Since Pakistan imports important products such as petroleum, machinery and other essential items, a fall in the value of the rupee can increase costs for businesses and ordinary people.

This can also create more inflation, making daily life difficult for families across the country.

Because of these risks, Pakistan wants to build stronger foreign exchange reserves and create additional financial protection.

How the Proposed US Facility Could Help the Rupee

The main purpose of the proposed $10 billion facility is to strengthen Pakistan’s external financial position.

If Pakistan receives access to the facility, it could help improve confidence in the country’s economy. Stronger reserves could also reduce pressure on the Pakistani rupee during periods of financial uncertainty.

The facility could provide Pakistan with an important backup source of foreign currency. This would be especially useful if the country faces unexpected pressure because of rising oil prices, regional conflicts, global economic problems or delays in other financial support.

For the government and the State Bank of Pakistan, having stronger financial support available could make it easier to manage sudden market pressure.

The rupee has faced several difficult periods in recent years. Pakistan has seen sharp changes in the value of its currency during times of low reserves and economic uncertainty.

A stronger financial position could help reduce such pressure and improve confidence among investors, businesses and international financial institutions.

However, the proposed facility would not be a permanent solution to Pakistan’s economic problems. Financial support can provide relief, but long-term stability depends on improving the country’s exports, increasing investment, collecting taxes more effectively and reducing unnecessary financial losses.

Pakistan Wants to Reduce Dependence on Emergency Support

One of the important goals behind the proposed US facility is to reduce Pakistan’s dependence on emergency financial support.

Pakistan has regularly depended on international financial institutions and friendly countries to manage its foreign exchange needs. The country has received support in different forms from the IMF as well as countries such as China and Saudi Arabia.

While such support has helped Pakistan during difficult periods, it also creates uncertainty because future financial assistance can depend on political decisions, economic conditions and international relationships.

Pakistan’s reserves can also come under pressure when it has to repay or return funds received from other countries.

This problem was highlighted earlier when Pakistan made a large repayment to the United Arab Emirates. The repayment reduced the country’s foreign exchange reserves at a time when maintaining a strong reserve position remained important.

A new financial facility from the United States could provide Pakistan with another major source of support. This would give the country more options instead of depending heavily on only a small number of financial partners.

It could also improve Pakistan’s position when dealing with future economic challenges.

IMF Reforms Continue to Affect the Economy

Pakistan’s request for US support comes while the country continues to follow economic reforms linked to its IMF programme.

The IMF programme has helped improve financial discipline and has supported Pakistan’s efforts to stabilise its economy. However, the reforms have also created difficulties for the government and the public.

Pakistan has had to take steps such as increasing taxes, controlling government spending and reducing some forms of financial support. These measures can be unpopular because they may increase pressure on households and businesses.

Many Pakistanis have already faced high electricity bills, rising prices and higher taxes. Businesses have also complained about the high cost of energy, borrowing and doing business.

The government faces the difficult task of meeting IMF requirements while also trying to protect economic growth and provide relief to the public.

A large financial facility from the United States could give Pakistan more breathing space. It could reduce some pressure on foreign exchange reserves and improve the country’s ability to deal with unexpected problems.

However, Pakistan would still need to continue economic reforms because international financial support alone cannot fix long-standing structural issues.

Stronger Relations With Washington

Pakistan’s request is also connected to its efforts to build stronger economic and political relations with the United States.

Islamabad has been working to improve cooperation with Washington in different areas. The relationship between the two countries has changed over time, with periods of close cooperation as well as periods of tension.

Pakistan’s recent role in regional diplomacy has increased hopes that improved relations could create new economic opportunities.

For Islamabad, closer ties with Washington could help attract American investment and improve access to international financial markets.

Pakistan is also looking for greater cooperation in areas such as trade, minerals, technology and investment.

During discussions in Washington, Pakistan’s Finance Minister Muhammad Aurangzeb reportedly highlighted the country’s need for greater US support in its efforts to improve access to global financial markets, increase foreign exchange reserves and strengthen its international credit position.

These areas are important because a stronger credit rating and better investor confidence can help Pakistan attract more foreign investment and borrow money at better rates.

Pakistan’s Long-Term Goal of Economic Stability

Pakistan hopes to build its foreign exchange reserves to a stronger level in the coming years. The State Bank of Pakistan has previously expressed hopes that reserves could rise significantly if the country continues to receive expected inflows and maintains economic stability.

A stronger reserve position would provide Pakistan with greater protection against economic shocks.

However, economists often warn that borrowing money or receiving foreign financial support cannot become a permanent solution.

Pakistan needs to increase its ability to earn dollars through exports, foreign investment, overseas remittances and other sustainable sources.

The country has a large population, a growing technology sector, important natural resources and strong potential in agriculture and manufacturing. But Pakistan still needs better policies and reforms to fully use these strengths.

The government will also need to improve tax collection, reduce losses in state-owned organisations and solve long-standing problems in the energy sector.

High electricity and gas costs continue to create problems for industries. Many businesses say expensive energy reduces their ability to compete in international markets.

Similarly, low exports remain a major challenge. Pakistan needs to produce and sell more goods and services to international markets if it wants to reduce its dependence on foreign loans.

Will the United States Approve the Request?

The biggest question is whether the United States will agree to provide the $10 billion facility.

So far, there has been no public confirmation that Washington has accepted Pakistan’s request. The final decision could depend on several economic, financial and political factors.

The United States may examine Pakistan’s economic reforms, its relationship with the IMF and the purpose of the proposed facility before making any decision.

If approved, the arrangement could become an important sign of growing economic cooperation between Pakistan and the United States.

It could also give international investors greater confidence in Pakistan’s financial position.

At the same time, the proposed facility may come with certain conditions. Large international financial arrangements often require countries to follow specific economic rules and maintain financial discipline.

Pakistan may therefore need to continue reforms and show that it is committed to building a more stable economy.

A Major Opportunity but Not a Complete Solution

The proposed $10 billion US lifeline could provide important support to Pakistan’s economy and help reduce pressure on the rupee. It could strengthen foreign exchange reserves, improve investor confidence and give the government more protection against sudden economic shocks.

For a country that has repeatedly faced pressure because of low reserves and external debt payments, access to such a large financial facility could be very important.

However, Pakistan’s real economic recovery will depend on more than foreign financial assistance.

The country needs long-term reforms that increase exports, attract investment, improve tax collection and reduce unnecessary dependence on borrowing.

Pakistan must also create a better environment for local and international businesses so that companies can invest, expand and create jobs.

The proposed facility, if approved, could give Pakistan valuable financial breathing space. But the country will still need to use that opportunity to build a stronger and more independent economy.

For now, Pakistan’s $10 billion request shows that Islamabad is trying to secure new sources of financial support while using improved diplomatic relations to strengthen the economy.

If Washington agrees, the facility could become one of the most important financial developments for Pakistan in recent years. It could help support the rupee, improve reserves and provide greater confidence during a critical period for the country’s economy.

But in the long run, Pakistan’s strongest protection will come from a stable economy that depends less on emergency lifelines and more on exports, investment, production and sustainable growth.

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Mobilink Bank’s WIN Incubator Strengthens Pakistan’s DEI Efforts as 18 Women-Led Startups Graduate

Usman Yaqoob
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Mobilink Bank’s WIN Incubator Strengthens Pakistan’s DEI Efforts as 18 Women-Led Startups Graduate

Mobilink Bank has taken another important step towards supporting women entrepreneurs in Pakistan by successfully graduating 18 women-led startups under its Women Inspirational Network, also known as the WIN Incubator Program. The initiative is part of the bank’s wider efforts to promote Diversity, Equity, and Inclusion, commonly known as DEI, and to help more women take an active role in the country’s business and economic future.

The graduation ceremony was held in Islamabad and brought together representatives from the public and private sectors. Ms. Wajiha Qamar, Minister of State for Federal Education and Professional Training, attended the event as the chief guest. The occasion celebrated the hard work and progress of women entrepreneurs who completed the program after receiving training, mentorship, business support, and opportunities to improve and expand their ideas.

The WIN Incubator was created to help women entrepreneurs move their businesses forward. Pakistan has a large number of talented women with strong business ideas, but many of them face difficulties when trying to access finance, professional guidance, digital tools, business networks, and market opportunities. Programs like the WIN Incubator aim to reduce these barriers by giving women practical support at an important stage of their business journey.

Through this latest group of graduates, Mobilink Bank has now supported a total of 31 startups through the WIN Incubator. The program is helping women-led businesses become stronger, more prepared, and better able to compete in a changing business environment.

Supporting Women Through Practical Business Skills

The 18 graduating startups received support in several important areas that are necessary for running and growing a successful business. The program focused on digital entrepreneurship, financial knowledge, business management, and strategies for expansion.

Digital skills are becoming more important for businesses of all sizes. Today, entrepreneurs can use online platforms, social media, digital payments, e-commerce tools, and other technology to reach customers and manage their businesses more effectively. For women entrepreneurs, learning how to use these tools can create new opportunities and help them enter larger markets.

Financial literacy was another important part of the program. Many small business owners struggle because they do not have enough knowledge about budgeting, managing expenses, planning investments, and handling business finances. A strong understanding of money management can help entrepreneurs make better decisions and avoid problems as their businesses grow.

The startups also received guidance on how to scale their businesses. Starting a business is only the first step. The bigger challenge is often to make it stable and expand it over time. This requires planning, customer understanding, marketing, product development, and the ability to respond to changing market conditions.

By combining these different areas of learning, the WIN Incubator aims to prepare women entrepreneurs for long-term growth rather than simply helping them launch a business.

Green Plastics Wins Best Startup Award

The graduation event also included awards for some of the most promising businesses from the group. Green Plastics received the Best Startup Award and was given PKR 1 million in seed funding.

The startup has developed an innovative idea that focuses on turning potato peels into recyclable bags. Its work shows how business ideas can address environmental problems while also creating economic opportunities.

Pakistan is facing serious challenges related to waste and pollution. Plastic waste has become a major concern in cities and other areas, while food waste is also a growing problem. Businesses that find useful ways to deal with such issues can create positive change while building sustainable commercial models.

Green Plastics represents this type of business approach. By using waste materials and converting them into a useful product, the startup is working towards a solution that combines innovation, environmental responsibility, and business growth.

The PKR 1 million seed funding can help the company continue developing its idea and take further steps towards expanding its work.

Innovation Challenge Winners Also Receive Funding

Two other startups, Ecogen and EcoFlow, were named winners of the Innovation Challenge. Both received PKR 500,000 in seed funding to support their work and future growth.

Ecogen is focused on dealing with food waste, while EcoFlow is working on affordable sanitary solutions for underserved communities. Both ideas show how women entrepreneurs are developing businesses that are connected to real social and environmental needs.

Food waste is a serious issue that affects households, businesses, and the wider economy. At the same time, the lack of affordable sanitary solutions remains a challenge for many communities. Startups that focus on such problems can play an important role in improving lives while also creating sustainable business opportunities.

The recognition given to Ecogen and EcoFlow highlights the importance of supporting businesses that are not only focused on profits but also on solving important problems in society.

Women Entrepreneurs Driving Social and Environmental Change

One of the most notable features of the graduating group was its strong focus on sustainability and social impact. Many of the startups are working on challenges such as plastic waste, food waste, and period poverty.

This shows a growing trend among women entrepreneurs in Pakistan. Many new businesses are being built around the idea of solving real problems while creating products and services that can support long-term economic growth.

Climate change and environmental damage are becoming major concerns for Pakistan. The country has already experienced the effects of extreme weather, floods, heatwaves, and other environmental challenges. At the same time, poor waste management continues to affect cities and communities.

Women-led startups working on environmentally friendly solutions can help create new ideas for dealing with these issues. Their work also shows that entrepreneurship can go beyond traditional business models.

Similarly, businesses working to improve access to affordable sanitary products can help address an important social issue that often does not receive enough attention. By focusing on underserved communities, such ventures can support people who face difficulties in accessing basic products and services.

The graduating startups are therefore not only trying to build successful businesses. Many are also working to create a positive impact in society.

Wajiha Qamar Appreciates the Initiative

Speaking at the ceremony, Ms. Wajiha Qamar praised the graduation of the 18 women-led startups and described the program as an example of what can happen when women are given the right opportunities and support.

She said that investing in the potential of women can bring major benefits to society and the economy. According to her, initiatives like the WIN Incubator help women gain important business and digital skills while also contributing to a more inclusive and stronger economy.

She also appreciated the fact that several startups in the group were working on important issues related to sustainability and social equality.

The minister highlighted the importance of cooperation between the government and the private sector. Such cooperation, she said, will be important for creating more opportunities for women across Pakistan and helping them become stronger contributors to innovation and economic growth.

Her remarks reflected a wider reality in the country. Pakistan cannot fully use its economic potential if a large part of its population continues to face barriers in education, employment, entrepreneurship, and access to financial services.

Mobilink Bank Focuses on Impact

Mobilink Bank President and CEO Haaris Mahmood Chaudhary also shared his views on the importance of the WIN Incubator.

He said the bank wants to go beyond simply providing access and instead focus on creating a real and lasting impact. According to him, the WIN Incubator is helping develop a new generation of women entrepreneurs who are not only taking part in the economy but are also leading businesses and creating change.

The success of these entrepreneurs, he noted, can contribute to a Pakistan that is more inclusive, stronger, and better prepared for the future.

This approach is important because access to finance alone is often not enough for a small business to succeed. Entrepreneurs may also need training, mentorship, business connections, market access, and confidence in their abilities.

The WIN Incubator brings several of these areas together. It gives women entrepreneurs a platform where they can learn from experts, improve their business ideas, connect with others, and receive opportunities for financial support.

A Growing Record of Supporting Women-Led Startups

With the graduation of the latest group, Mobilink Bank has now graduated 31 women-led startups through the WIN Incubator.

The program is designed specifically for women entrepreneurs and provides structured support during the early and growth stages of their businesses. This support includes training, mentorship, networking, and possible access to funding.

The first group of startups helped establish the foundation of the program, while the second group has continued its progress. The growing number of graduates shows that there is a strong need for such platforms in Pakistan.

Many women in the country have business ideas and the ability to run successful ventures, but they may lack access to the resources needed to turn those ideas into reality.

Traditional social barriers, limited financial access, lack of professional networks, and fewer opportunities can make entrepreneurship difficult for women. Programs that directly address these issues can help bring more women into the business sector.

The success of women entrepreneurs can also create a wider impact. As their businesses grow, they can create jobs, support families, introduce new products and services, and inspire other women to start their own ventures.

Part of a Wider DEI and ESG Strategy

Mobilink Bank’s support for the WIN Incubator is also linked with its broader focus on Diversity, Equity, and Inclusion as well as Environmental, Social, and Governance principles, commonly called ESG.

The bank has been working on programs designed to improve financial inclusion and create more opportunities for women. Through the wider WIN initiative, it aims to support women in different parts of their professional and financial journeys.

The focus is not limited to business owners. Mobilink Bank has also developed financial products and other initiatives aimed at helping women become more financially independent.

By supporting women-led startups, the bank is trying to create opportunities where women can gain both business knowledge and financial support. The goal is to help them become active decision-makers and leaders in the economy.

The sustainability focus of many startups in the WIN Incubator also matches the bank’s ESG direction. Businesses that work on reducing waste, improving environmental conditions, or solving social problems can contribute to a more responsible economy.

Why Women-Led Businesses Matter for Pakistan

Supporting women entrepreneurs is not only a matter of equal opportunity. It also makes economic sense.

Pakistan has a large female population, but many women remain outside formal employment and business activities. Increasing their participation can help strengthen household incomes, create jobs, and support national economic growth.

Women often face different challenges than men when starting or running a business. Some may have limited access to property, financial services, business networks, or mobility. Others may have family responsibilities that make it difficult to follow traditional work patterns.

Digital technology can help reduce some of these barriers. Online businesses, digital payments, social media marketing, and remote work can create more flexible ways for women to operate and grow businesses.

However, technology alone is not enough. Entrepreneurs also need training and access to the right support systems. This is where programs like the WIN Incubator can make a difference.

By helping women improve their digital and business skills, such initiatives can open the door to more economic opportunities.

Building a More Inclusive Future

The graduation of 18 women-led startups is another positive step for Pakistan’s startup and business ecosystem. The founders have shown that women entrepreneurs can develop solutions for some of the country’s most important environmental and social challenges.

From recyclable bags made using potato peels to solutions for food waste and affordable sanitary products, the businesses emerging from the WIN Incubator are showing how innovation can be used to address real problems.

The funding awarded to the top startups will provide additional support, but the value of the program goes beyond financial assistance. Training, mentorship, networking, and business knowledge can continue to benefit the entrepreneurs as they move forward.

Mobilink Bank’s continued investment in the WIN Incubator also sends a positive message about the importance of women in Pakistan’s economic future.

As more women receive access to financial services, business knowledge, digital tools, and professional networks, they can play a bigger role in building new companies and creating employment.

The journey of these 18 startups is not simply about graduating from an incubator program. It is also about the larger effort to create an economy where women have more opportunities to lead, innovate, and succeed.

Through initiatives like the WIN Incubator, Mobilink Bank is supporting a future in which women are not seen only as participants in the economy. Instead, they are being encouraged to become business leaders, problem-solvers, and drivers of positive change.

With 31 startups now having completed the program, the WIN Incubator is becoming an important platform for women-led entrepreneurship in Pakistan. Its latest graduates have shown that with the right support, innovative ideas can become strong businesses with the potential to create economic, environmental, and social benefits.

The program’s progress also highlights a simple but important point: when women are given the opportunity to grow, learn, and lead, the benefits can reach far beyond individual businesses. Families, communities, industries, and the national economy can all gain from their success.

As Pakistan continues to face economic and social challenges, supporting women entrepreneurs may become an even more important part of building a stronger, more inclusive, and more sustainable future.

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Govt Plans Fixed Income Tax on Farmers to Satisfy IMF Demands

Usman Yaqoob
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0
Govt Plans Fixed Income Tax on Farmers to Satisfy IMF Demands

The federal government is reportedly planning to introduce a fixed income tax system for farmers as part of its wider efforts to meet the requirements of the International Monetary Fund (IMF). The move is linked to Pakistan’s ongoing economic reform programme, under which the government has agreed to increase tax collection and bring sectors that have remained outside the proper tax net into the system.

Agriculture is one of the largest sectors of Pakistan’s economy and plays a major role in employment, food production and exports. However, the amount of tax collected from agricultural income has remained very low for many years. The government now faces pressure to improve this situation and make sure that the agriculture sector also makes a greater contribution to national revenues.

The proposed fixed tax system could make tax collection easier and help the authorities deal with the difficulties involved in calculating the actual income of farmers. It may also help the government show the IMF that Pakistan is serious about implementing tax reforms and broadening its tax base.

Agriculture Under Pressure to Contribute More Taxes

Pakistan has long struggled to collect enough tax revenue to meet its growing spending needs. A large part of the country’s tax collection comes from a limited number of sectors and taxpayers. Many areas of the economy have either remained lightly taxed or faced weak enforcement.

Agriculture is among the sectors that have remained difficult to tax properly. The sector makes a major contribution to Pakistan’s economy, but agricultural income tax collection has been much lower than expected. The IMF has repeatedly pointed to the need for Pakistan to bring agricultural income taxation closer to the tax system applied to other forms of income.

According to recent IMF assessments, agriculture remains one of the most lightly taxed major sectors in Pakistan. The IMF has said that the country needs to improve tax collection from agriculture and other under-taxed sectors to strengthen its finances and reduce pressure on already taxed businesses and salaried people.

The latest push for a fixed income tax on farmers is therefore being seen as part of a broader attempt to improve the country’s tax collection system.

Why the Government May Choose a Fixed Tax System

Calculating the exact income of farmers is not always easy. Agricultural income can change because of weather conditions, crop prices, production costs, water shortages, pests and other factors. Many farmers also operate in areas where keeping detailed financial records is not common.

Because of these issues, the government may find it difficult to accurately determine the income of every farmer and collect tax according to the normal income tax system.

A fixed tax could offer a simpler option. Instead of relying only on complicated calculations of yearly income, the government could set a clear tax amount or formula based on certain factors. These could include the size of agricultural land, the type of farming, production level or another official measure.

Supporters of such a system believe it could reduce confusion and make it easier for both farmers and tax authorities. A simple and clear system may also improve compliance because taxpayers would have a better understanding of how much tax they are expected to pay.

However, the final details of the proposed system will be important. Farmers with different incomes and land sizes cannot always be treated in exactly the same way. Small farmers often face greater financial pressure and have fewer resources than large commercial farming businesses.

For this reason, the government will need to design the tax system carefully to avoid putting an unfair burden on smaller farmers.

IMF Wants Broader and Fairer Tax Collection

Pakistan’s agreement with the IMF includes a number of economic and tax reforms. The government is expected to increase revenues, improve tax enforcement and reduce the country’s dependence on borrowing.

The IMF has supported reforms aimed at taxing areas of the economy that have historically contributed less to the national tax system. These include agriculture, property and other sectors where tax collection has remained weak.

The four provinces amended their agricultural income tax systems to bring them closer to the federal income tax framework. The reforms were introduced as part of Pakistan’s commitments under the IMF-supported programme, with the new tax regime applying to agricultural income from January 2025.

However, changing the law is only one part of the process. Proper implementation, registration of taxpayers, accurate records and effective enforcement are also necessary.

Recent data and analysis have shown that agricultural income tax collection has remained below expectations despite the new framework. This has increased pressure on the authorities to find ways to improve the system and make tax collection more effective.

A fixed income tax system could therefore be considered as a practical way to improve collection and address some of the problems faced under the existing system.

Provinces Have an Important Role

Agricultural income tax is mainly a provincial matter under Pakistan’s constitutional system. This means the federal government cannot simply collect the tax on its own in the same way as it collects many other federal taxes.

Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan all have an important role in implementing agricultural tax reforms. For the new system to work successfully, there will need to be close coordination between the federal and provincial governments.

The provinces will need to improve taxpayer registration, identify people who should be paying tax and develop effective systems for collecting agricultural income tax. Better use of digital records and information sharing could also play an important role.

The Federal Board of Revenue (FBR) has also been working with the provinces by sharing relevant income tax information. The IMF has highlighted the importance of data sharing, automation and stronger enforcement in order to improve the collection of agricultural income tax.

Without better coordination, even a new fixed tax system may face the same problems that have affected earlier efforts.

Small Farmers May Need Protection

One of the biggest concerns about the proposed tax plan will be its impact on small farmers. Pakistan has a large number of farmers who own or work on small areas of land and already face rising costs.

The prices of seeds, fertiliser, pesticides, electricity, diesel and other agricultural inputs can place a heavy burden on farmers. Crop losses caused by floods, drought, changing weather and pests can also reduce their income.

If the government introduces a fixed income tax without considering these problems, small farmers may find it difficult to pay. This could lead to opposition and reduce public support for the reform.

The government may therefore need to create different categories for small, medium-sized and large farmers. Small farmers with limited income may require exemptions or lower tax rates, while larger and more profitable agricultural businesses could be asked to pay more.

This approach would be closer to the idea of fairness. Farmers with a greater ability to pay should contribute more, while vulnerable farmers should not face unnecessary financial pressure.

Large Landowners and Commercial Farms Could Face Higher Burden

The proposed tax reform could especially affect large landowners and commercial agricultural businesses. These groups generally have greater financial capacity and may be expected to make a bigger contribution to tax revenues.

For years, there has been public debate in Pakistan over whether wealthy agricultural landowners are paying their fair share of taxes. Salaried people and registered businesses often face regular tax deductions and reporting requirements, while tax collection from agriculture has remained comparatively weak.

A stronger agricultural tax system could help reduce this difference. If implemented properly, it may also improve confidence in the tax system by showing that income from different sectors is being treated more fairly.

However, accurate records will remain necessary. The government will have to make sure that wealthy taxpayers do not use loopholes or incorrect declarations to avoid paying the required amount.

Government Needs More Revenue

The main reason behind the latest tax push is Pakistan’s need for higher and more stable revenue. The government spends large amounts on debt payments, salaries, pensions, development projects, defence, energy-related costs and social welfare programmes.

At the same time, the country needs money for education, healthcare, infrastructure and support for vulnerable families.

When tax collection remains low, the government often has to depend more heavily on borrowing. This increases public debt and can create more financial problems in the future.

The IMF has stressed that Pakistan needs to improve domestic revenue collection to create a more sustainable financial position. The latest programme reviews have also highlighted the need for continued efforts at both federal and provincial levels to increase tax revenues.

Bringing more agricultural income into the tax system could therefore help the government reduce its dependence on a narrow group of taxpayers.

Farmers May Oppose the New Plan

Although the government may see the fixed income tax as necessary, the plan could face resistance from farming groups and political leaders.

Farmers may argue that agriculture is already under pressure because of rising costs and uncertain crop prices. Many could say that the government should first provide better support, improve water availability and reduce the cost of farming before imposing additional taxes.

There may also be concerns about how the fixed tax will be calculated. If a farmer has a poor crop year because of floods, drought or low prices, a fixed tax could become difficult to pay.

For this reason, the government may need to include special rules for farmers affected by natural disasters or major crop losses. A system that allows adjustments during difficult years could make the policy more acceptable.

The authorities will also need to clearly explain the purpose of the tax and how it will work. Lack of information could create rumours and unnecessary fear among farmers.

Better Records Will Be Necessary

A successful agricultural tax system will depend heavily on reliable information. The government will need accurate data about agricultural land, land ownership, crop production and taxpayers.

Pakistan has made progress in digital systems, but more work is still needed. Land records are not equally strong in every area, and some agricultural activities remain outside formal documentation.

The use of digital records and cooperation between federal and provincial authorities could improve the situation. Better information sharing would help identify taxpayers and reduce tax evasion.

Technology could also make the tax process easier for farmers. Online registration, simple digital forms and mobile payment systems may reduce the need for farmers to visit government offices.

At the same time, the government must make sure that farmers in rural areas who have limited access to the internet are not left behind.

IMF Confidence Is Important for Pakistan

The proposed tax move is also important because Pakistan wants to maintain the confidence of the IMF and other international lenders.

Pakistan’s economy has faced serious financial challenges, and continued support from international partners remains important. To receive further support and maintain economic stability, the government must show that it is implementing agreed reforms.

Tax collection is one of the major areas of focus. If Pakistan fails to increase revenues, it may face difficulties in meeting its fiscal targets.

The government therefore wants to demonstrate that it is taking practical steps to improve tax collection from sectors that have traditionally remained under-taxed.

The IMF has made clear that the provinces also have an important role in this process, particularly through stronger agricultural income tax collection and broader provincial tax reforms.

A Difficult But Important Reform

Introducing a fixed income tax on farmers may help the government simplify agricultural taxation and increase revenue collection. However, the policy will need to be designed carefully.

A poorly planned system could place too much pressure on small farmers and create strong opposition. On the other hand, a fair system that focuses more on large and profitable agricultural businesses could help broaden Pakistan’s tax base without hurting vulnerable farmers.

The government will need to balance the demands of the IMF with the realities faced by Pakistan’s agriculture sector. Farmers deal with changing weather, water shortages, rising costs and uncertain market prices, so any tax system must take these risks into account.

The coming months will show how the government and provinces move forward with the proposed plan. If implemented properly, the reform could improve tax collection and make Pakistan’s tax system broader and more balanced.

However, success will depend on more than simply announcing a new tax. Strong implementation, fair treatment of small farmers, better records, modern technology and effective coordination between the federal and provincial governments will all be necessary.

For Pakistan, the challenge is to collect more tax while protecting those who are already struggling. If the government manages this balance, the agricultural tax reform could become an important part of the country’s wider effort to strengthen its economy and meet its commitments to the IMF.

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Spain Denies Reports ef Emergency Plan to Pressure Morocco Amid Migration Tensions

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Spain Denies Reports ef Emergency Plan to Pressure Morocco Amid Migration Tensions

MADRID: The Spanish government has categorically denied media reports claiming that Madrid is preparing an emergency plan aimed at deterring Morocco in the event of a new migration crisis along the two countries’ border.

The controversy emerged after Spain’s public broadcaster RTVE reportedly aired information on its “Mañaneros” programme suggesting that the government was considering a comprehensive emergency strategy to respond to a potential migration crisis involving Morocco. A related post published on the broadcaster’s X account was subsequently deleted.

Moncloa Palace Rejects Reports as “Completely False”

Sources at the Moncloa Palace, the official residence and office of the Spanish prime minister, told Spanish political affairs website Elekto Mania that the reports were inaccurate.

The sources categorically rejected the existence of any government-commissioned plan or report designed to confront or pressure Rabat, describing the information as “completely false” .

The denial was further reinforced by reports that Spain’s electricity grid operator Red Eléctrica and gas infrastructure company Enagás had not received any government instructions related to preparations for using energy supplies as a potential pressure tool against Morocco.

Madrid Maintains Strategic Rapprochement with Rabat

The controversy comes against the backdrop of a major transformation in Moroccan-Spanish relations over recent years.

Madrid’s recognition of Morocco’s autonomy initiative for the Sahara as the most serious, realistic and credible basis for resolving the regional dispute marked a significant turning point in bilateral relations and paved the way for closer political, economic and security cooperation.

Since then, Rabat and Madrid have strengthened coordination on several issues of mutual interest, particularly migration management, security, trade and regional stability.

Migration Cooperation Remains a Key Priority

Spanish media reports have nevertheless highlighted continuing political debate within Spain over the country’s migration policy and its cooperation with Morocco.

La Gaceta de la Iberosfera reported that the government of Prime Minister Pedro Sánchez has no

plans to impose sanctions on Morocco following recent developments in Ceuta and does not intend to reverse its position on Morocco’s territorial integrity.

The report said Madrid remains committed to the rapprochement with Rabat initiated more than four years ago and continues to regard Morocco as an essential partner in managing migration flows towards Spain.

Energy Pressure Claims Also Rejected

The controversy intensified after reports suggested that the Spanish government had requested assessments of electricity, gas and fuel supplies to Morocco to determine whether energy could potentially be used as an instrument of pressure during a future migration crisis.

However, these claims were rejected by the Spanish government, while Red Eléctrica and Enagás reportedly denied receiving instructions connected to such an assessment.

The Spanish government’s firm denial underscores Madrid’s stated intention to preserve its strategic partnership with Morocco rather than return to the tensions that characterised bilateral relations before the recent diplomatic rapprochement.

Spain-Morocco Partnership Faces Political Scrutiny

While the reports have triggered political and media debate in Spain, Madrid’s official position remains focused on maintaining cooperation with Rabat.

The latest episode highlights the sensitivity surrounding Spain-Morocco relations, particularly on migration and border management, while also demonstrating the importance both sides attach to preserving the strategic partnership and avoiding a return to previous periods of diplomatic tension.

 

SpaceX Acquires Pakistani Cofounder’s AI Startup Cursor for $60 Billion

Usman Yaqoob
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SpaceX Acquires Pakistani Cofounder’s AI Startup Cursor for $60 Billion

Elon Musk’s SpaceX has completed a huge $60 billion deal to acquire Anysphere, the company behind the popular AI coding tool Cursor. The deal is one of the biggest acquisitions in the artificial intelligence industry and has also brought major attention to Pakistani-born entrepreneur Sualeh Asif, one of Cursor’s cofounders.

For Pakistan’s technology community, the deal is especially important because Asif grew up in Karachi before moving to the United States for higher education. At a very young age, he became part of a startup that went from being a small software project to a company valued in the tens of billions of dollars.

The $60 billion transaction is being made in shares rather than a simple cash payment. SpaceX first announced its partnership with Cursor earlier in 2026, and the two companies later moved towards the acquisition. The deal was officially completed in August 2026.

Who Is Sualeh Asif?

Sualeh Asif is a Pakistani-born technology entrepreneur who grew up in Karachi. Before becoming known around the world for Cursor, he was already interested in mathematics and technology.

Asif studied at Nixor College in Karachi and later attended the Massachusetts Institute of Technology (MIT) in the United States. During his school years, he also represented Pakistan at the International Mathematical Olympiad and won a silver medal.

At MIT, Asif met the other people who would later become his business partners. Along with Michael Truell, Aman Sanger and Arvid Lunnemark, he helped create Anysphere in 2022.

The company’s main product became Cursor, an AI-powered coding tool designed to help software developers write, edit and understand computer code.

What started as an idea among young engineers quickly turned into one of the most successful AI startups in the world.

What Is Cursor?

Cursor is an AI coding assistant built for software developers. Instead of requiring programmers to write every line of code themselves, Cursor uses artificial intelligence to help them create, edit and improve software.

Developers can use the tool to ask questions about their code, generate new code, fix problems and make changes across projects. This can save time and make software development easier, especially for people working on large and complicated projects.

The growth of tools like Cursor shows how quickly AI is changing the software industry. In the past, developers had to spend a large amount of time writing and checking code manually. AI tools can now handle many of these tasks in seconds.

Cursor became popular with both individual programmers and large companies. Reports have said that the platform was being used by developers at more than 50,000 businesses, including major technology companies.

From a Small Startup to a Billion-Dollar Business

Anysphere’s growth has been extremely fast.

The company raised $60 million in a Series A funding round in 2024. That investment valued the business at around $400 million.

Only about a year later, the company had grown dramatically. By June 2025, Anysphere had reportedly raised around $900 million and reached a valuation of about $9.9 billion.

The company then raised another $2.3 billion in November 2025. That funding round pushed its valuation to around $29.3 billion.

The rise did not stop there.

By 2026, Cursor had become one of the fastest-growing AI software products. Its annual revenue was reported to have passed the $1 billion level, showing how quickly businesses and developers were adopting AI-based coding tools.

The company’s rapid growth eventually attracted the attention of Elon Musk and SpaceX.

Why Does SpaceX Want Cursor?

At first, SpaceX and Cursor may appear to be very different companies.

SpaceX is famous for rockets, satellites and Starlink, while Cursor is focused on software development and artificial intelligence.

However, AI has become an increasingly important part of Musk’s business plans.

SpaceX has been expanding its work in artificial intelligence, including the development and use of advanced AI models. The company also acquired Musk’s AI business and has been working to bring its AI and space operations closer together.

Cursor gives SpaceX another important piece of the AI puzzle.

The software can help engineers build and improve complex computer systems more quickly. For a company working on rockets, spacecraft, satellites and large technology networks, better software development tools can be extremely valuable.

The acquisition also gives SpaceX access to a team that has already built a successful AI product and developed strong knowledge of AI-assisted software development.

The $60 Billion Deal

The value of the acquisition is around $60 billion, making it one of the largest deals involving an AI startup.

Importantly, the transaction is an all-stock deal. That means SpaceX is using its own shares as the main form of payment rather than simply handing over $60 billion in cash.

The agreement had been developing for months.

In April 2026, SpaceX and Cursor announced a partnership that included an option for SpaceX to acquire Anysphere for $60 billion. If the acquisition did not go ahead, SpaceX could instead pay a large amount for the partnership and access to Cursor’s technology.

By June, SpaceX had moved forward with the acquisition, and the deal was later completed in August.

This makes the transaction much more than a simple investment. Cursor is now part of the wider SpaceX business.

A Major Moment for Pakistan

The deal is also attracting attention in Pakistan because of Sualeh Asif’s background.

Asif is one of the young Pakistani-born entrepreneurs to achieve major success in Silicon Valley. His story shows how Pakistani students and engineers can compete in the global technology market.

His journey from Karachi to MIT and then to a company worth tens of billions of dollars is likely to inspire many young people in Pakistan.

Pakistan has a large number of talented software developers, engineers and technology students. However, many of them face challenges such as limited access to international investors, global markets and advanced technology networks.

Asif’s success shows what can happen when strong technical skills are combined with a good business idea, international exposure and the ability to solve a problem that millions of people face.

Cursor’s Young Founders

Asif was not alone in building Cursor.

The company was founded by four young entrepreneurs: Sualeh Asif, Michael Truell, Aman Sanger and Arvid Lunnemark. They met while studying at MIT and later started Anysphere together.

Their story is also different from the traditional image of large technology companies being built by older business leaders.

These founders were young when they started the company. They focused on a growing problem in software development and used AI to create a practical product.

The success of Cursor shows that age is not always a barrier in the technology industry. A small team with the right idea can grow very quickly when the market is ready for its product.

What SpaceX Can Gain From Cursor

There are several possible benefits for SpaceX.

The first is access to Cursor’s AI coding technology. SpaceX has thousands of employees working on highly technical projects. AI tools could help those teams write software faster and handle large amounts of code.

The second benefit is Cursor’s engineering team. Building a successful AI coding product requires knowledge of artificial intelligence, software engineering and product development. Bringing that talent into SpaceX could help the company move faster in its AI plans.

The third benefit is the chance to connect Cursor with SpaceX’s growing AI infrastructure.

Reports say Cursor has already worked closely with SpaceX on AI-related projects. The companies have also been working with SpaceX’s computing resources to support AI development.

Cursor and Grok

One of the most interesting parts of the partnership is the connection between Cursor and Musk’s AI work.

Cursor has contributed to the development of Grok models, according to reports. The two companies have also worked together on AI systems and computing resources.

This means the acquisition could allow SpaceX to bring its AI models and Cursor’s coding platform closer together.

For users, that could eventually mean better AI coding agents that can handle more complicated software tasks.

It could also help SpaceX compete more strongly with other companies working on AI coding products and general-purpose AI systems.

What It Means for AI

The acquisition shows how valuable AI software has become.

Only a few years ago, a startup focused on helping programmers write code would not normally be expected to attract a $60 billion acquisition offer.

Today, AI has changed the situation.

Companies are spending huge amounts of money to gain access to AI talent, software, computing power and data. AI coding is one of the areas receiving particular attention because software development is used by almost every major industry.

Cursor’s success is an example of this change.

Instead of simply selling traditional software, the company built a product that works alongside developers and helps them complete tasks using artificial intelligence.

A Big Win for the Founders

The acquisition is expected to make Cursor’s young founders even wealthier.

Forbes estimated that each of the four cofounders could be worth around $2.7 billion after the deal goes through.

For Asif, this represents a remarkable change from his early days in Karachi.

His success is also notable because he reached billionaire status at a very young age through technology entrepreneurship.

The story has attracted attention not only from the international technology industry but also from Pakistani media and social media users, many of whom see his achievement as a source of pride.

What Comes Next for Cursor?

The biggest question now is what happens to Cursor after joining SpaceX.

The product has already become a major tool for software developers. The acquisition could allow SpaceX to invest even more money and computing resources into the platform.

Cursor could also become more closely connected with SpaceX’s wider AI systems.

The company may continue operating as a software product while benefiting from SpaceX’s resources. At the same time, its technology could become an important part of SpaceX’s internal software and AI work.

The exact long-term structure will become clearer as SpaceX integrates the company.

A New Chapter for Pakistani Tech Talent

Sualeh Asif’s story is bigger than a $60 billion business deal.

It is also a reminder that Pakistani talent can have a place on the world’s biggest technology stage.

From representing Pakistan in an international mathematics competition to studying at MIT and helping build one of the world’s most valuable AI startups, Asif has taken a path that many young Pakistani students may now look at with fresh interest.

His success could encourage more students to explore mathematics, computer science, artificial intelligence and entrepreneurship.

Pakistan already has a large technology workforce. The challenge is turning that talent into companies that can compete globally.

Cursor’s story shows that it is possible.

Final Thoughts

SpaceX’s $60 billion acquisition of Anysphere, the company behind Cursor, is a major development for both artificial intelligence and the global technology industry.

For Elon Musk, the deal strengthens SpaceX’s growing focus on AI and software. For Cursor, it provides access to one of the world’s most powerful technology companies and its huge computing resources.

For Pakistan, however, there is another important side to the story.

Sualeh Asif, a Pakistani-born entrepreneur from Karachi, helped build Cursor from an early-stage startup into a company that attracted a $60 billion acquisition from SpaceX.

The deal highlights the growing value of AI coding tools and shows how quickly a small technology company can grow when it solves a real problem.

As AI continues to change the way software is built, Cursor’s journey may become one of the most closely watched startup stories of this decade. And for young Pakistani developers and entrepreneurs, Sualeh Asif’s journey from Karachi to the global AI industry offers a powerful example of what is possible with technical skills, hard work and the right idea.

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