KARACHI – Noman Azhar, Chief Officer of Zindigi, powered by JS Bank, has been honored with title of “Digital Leader of the Year” at the prestigious Pakistan Digital Awards. This accolade recognizes Noman’s pivotal role in transforming Pakistan’s digital banking and fintech sectors.

Zindigi, the digital banking arm powered by JS Bank, has emerged as a cornerstone in Pakistan’s financial and digital infrastructure. With its entire tech stack developed in-house, Zindigi has positioned itself as a key player in the country’s fintech revolution, demonstrating the potential of homegrown innovation in a market traditionally dominated by foreign solutions. Another major achievement was transforming Pakistan’s religious travel sector by enabling a cashless Hajj and Umrah experience, addressing long-standing challenges faced by Pakistani pilgrims. By simplifying currency conversion and transactions, the platform has reduced financial stress for millions of travelers each year.

Under his visionary leadership, Zindigi has also turned its focus to Pakistan’s burgeoning freelance economy. In an era where remote work is becoming increasingly prevalent, Zindigi has launched a USD-based Freelancer account tailored to the specific financial needs of this growing workforce.  Zindigi’s footprint extends beyond financial services. Partnering with the Capital Development Authority in Islamabad, the platform has spearheaded the city’s digital transformation, and is partnering with Punjab’s waste management ecosystem, to digitize public services.

With more than 16 years of experience in banking, technology, and financial services, Noman Azhar helped position Zindigi at the forefront of Pakistan’s digital transformation.  The trajectory of Pakistan’s digital evolution has been increasingly shaped by the growing role of public-private partnerships. These collaborations have proven essential in reshaping national infrastructure, especially in sectors where the government has sought to modernize while leveraging private sector expertise. Across various industries, from banking to transportation, partnerships between the public and private sectors are emerging as key drivers of progress. Driven by a vision to enact transformative change globally, Azhar’s unwavering dedication to digitizing the public sector has played a pivotal role in reshaping Pakistan’s digital landscape, touching the lives of individuals across communities.

ISLAMABAD – The Competition Commission of Pakistan (CCP) has issued show cause notices to 10 steel structure suppliers involved in procurement tenders floated by various Distribution Companies (DISCOs) for the alleged collusive bidding.

The companies include AM Associates (Pvt) Ltd, Ajmer Engineering Electric Works (Pvt) Ltd, Khalifa Sons (Pvt) Ltd, Siddique Sons Engineering (Pvt) Ltd, Vision Engineering (Pvt) Ltd, AW Engineering (Pvt) Ltd, FN Power (Pvt) Ltd, Gujranwala Cable (Pvt) Ltd, AH Associates (Pvt) Ltd, and Process Dynamics (Pvt) Ltd.

The CCP took suo motu notice and initiated an enquiry under Section 37(1) of the Competition Act, 2010. During the enquiry, search and inspections were also conducted at the premises of three Lahore-based companies, where critical documents and records were impounded for further examination.

During the enquiry, bidding data from 2015 to 2022, obtained from all DISCOs, particularly regarding the procurement of transmission towers, was analysed.

Economic evidence revealed a consistent pattern of bidding where these companies appeared to have submitted identical or near-identical rates, with differences as small as 0.001% to 1%. Out of 357 tenders evaluated, 135 showed signs of collusion, including identical rates, division of quantities, sole participation, and bid rotation.

Notably, AM Associates, Ajmer Engineering, and Khalifa Sons were found to have engaged in collective decision-making regarding the rates and quantities quoted, with the apparent aim of manipulating tender outcomes for mutual benefit.

The enquiry report found that this collusive behavior included mutual agreements on the number of firms participating in tenders, predetermined price-fixing, and strategic non-participation to ensure that the preselected firm would win.

Such practices constitute a, prima facie, violation of Section 4(2)(a)(b)(c)(e) of the Competition Act, 2010.

The CCP’s enquiry further concluded that the anti-competitive behavior of these ten companies extends beyond provincial boundaries, affecting market dynamics across Pakistan.