Pakistani water charity becomes global pioneer in fundraising using NFTs

Bilal Bin Saqib, the founder and chief executive officer (CEO) of Tayaba Organisation, the first entity raising funds for charity through blockchain-based Non-Fungible Token (NFT) technology, speaks about NFTs for social good at the ETH conference in Barcelona, Spain, held in the first week of July. (Photo courtesy: Tayaba Organisation)
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Updated 30 July 2022
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Pakistani water charity becomes global pioneer in fundraising using NFTs

  • Tayaba Organisation, which works in Pakistan’s remote areas, recently raised Rs2 million from its first NFT collection
  • CEO Bilal bin Saqib says he plans to hold a Web3 conference in Pakistan for which he has already invited Ethereum co-founder

KARACHI: Tayaba Organisation, a Pakistani non-governmental organization (NGO), has become the first global entity to raise charity funds to address water scarcity issues by implementing the innovative blockchain-based Non-Fungible Token (NFT) technology, the founder of the organization said on Saturday.




In this undated photo, women fill their water cans in the Thar desert region in Pakistan, where water shortage is a major issue. (Photo courtesy: Tayaba Organisation)   

The charity organization is engaged in Pakistan’s remote desert and mountainous regions, hit by acute water shortages, through its innovative solution ‘H2O wheel,’ or Help 2 Others, which is a specially designed water-carrying can tailored as a simple and effective product that helps transport safe water and is aimed at removing burden off the shoulders. The organization has impacted lives of over 100,000 people in underserved areas housing marginalized communities.   

“Tayaba [Organisation] has become the first Pakistani NGO and one of the first globally to implement the innovative blockchain-based NFT technology for fundraising purposes in the charity sector,” Bilal bin Saqib, the founder and chief executive officer (CEO) of the charity, told Arab News in an exclusive interview on Saturday.   

“NFTs are the next fundraising frontier because they offer something beyond just a direct monetary donation, unlike cryptocurrencies. They offer the chance to be part of a community of like-minded people. When you buy an NFT for social good, you're not just giving your money to a cause, but becoming emotionally invested in the project itself.”  

NFTs are financials asset consisting of digital data stored in a blockchain that can’t be replicated. The ownership of an NFT, recorded in the blockchain, can be transferred by the owner that allows NFTs to be sold and traded.   

“If you think about it, most things in the real world are 'non-fungible,' like your dog, house or parents. Even you are non-fungible because you’re unique and there is only one of you. In more technical terms, NFTs are files that live on the blockchain,” Saqib explained. 

“This means that NFTs cannot be altered or deleted from some central system and the transaction history is readily viewable on the blockchain by anyone. NFTs allow you to own digital media assets like you own digital currencies, e.g. Bitcoin. Art is a very common form of NFTs.”  

The organization has currently got two live collections on Opensea, one of the biggest NFT hosting platforms. The first consists of 12 assets, including trading cards, animated images and gifs. The second collection includes three tiers of loyalty cards that give their holders special benefits. 

“We’ve got H2O green, silver and gold cards that carry their own unique advantages, including access to all the information on how your water wheel contributions are being distributed,” the Tayaba Organisation CEO said. 

Saqib, who previously featured on the Forbes 30 Under 30 list in recognition of social entrepreneurship through his organization, said he was overjoyed by fundraising through first NFT collections.  

“Tayaba's first collection of NFTs was also geared towards the art of storytelling. We told the world about Fantastic Fatima, Happy Habiba, empowerment, economic growth and gender equality,” he said. 

"We wanted the world to see the faces we helped and the lives we tried to change. And we succeeded beyond our wildest dreams by raising Rs2 million ($8,364) from our first collection." 




In this undated photo, Bilal Bin Saqib, the founder and chief executive officer (CEO) of Tayaba Organisation, takes a selfie with Vilatik Buterin, co-founder of Ethereum cryptocurrency, in London, United Kingdom. (Photo courtesy: Tayaba Organisation)   

Passionate for Pakistan’s digital journey, the Tayaba Organisation chief said he plans to organize a conference in Pakistan, for which he has already invited Vitalik Buterin, the co-founder of Ethereum, who has accepted the invite. 

“I don’t want Pakistan to be left behind in the next big leap of technology and the internet which is why I plan to one day hold a Web3 Pakistan Conference. That is my big vision and so, when I ran into Vitalik Buterin at EthCC (Ethereum Community Conference), I had to go up to him and invite him to it,” Saqib, who graduated in social innovation and entrepreneurship from the London School of Economics, told Arab News.  

“Who would be a better keynote speaker at Eth Pakistan than the co-founder of Ethereum himself. He was very amiable about the whole thing and expressed a desire to come visit Pakistan at some point in the future. I would be honored and excited to host him when he does come.”  

Pakistan, which has yet to decide about the future of crypto currency trade within its territorial boundaries, ranked third on the Crypto Adoption Index 2021, while its citizens hold $20 billion in cryptocurrencies, according to Chainanalysis, an American blockchain analysis firm headquartered in New York. 

“Blockchain knows no boundaries and I believe social good should be the same. The decentralised nature makes it so that anyone can participate regardless of geography and having any crypto wallet can give you access to the cause,” Saqib said.   

“As far as Pakistan’s policy on crypto goes, there is no outright ban but just a discouragement from the State Bank of Pakistan, as per their many circulars which encourage people to 'refrain' due to 'risks'.”  

To a question about the future of crypto trade in Pakistan, the Tayaba Organisation chief said the country remains a lucrative market despite the government’s “unsure” policy. 

“The government has had an unsure policy regarding crypto, which has sadly inhibited many Pakistanis who are enthusiastic about Web3 technologies. Despite that, it's also important to note that Pakistan has a pretty lucrative and vastly undocumented crypto ecosystem,” he said.  

“There is a lot of potential for cryptocurrency and other Web3 technologies in Pakistan. Think of the kind of earnings the government could make by formalising and legalising this economy. There would be foreign exchange earnings, a globally competitive market of internet businesses, and direct and indirect tax revenue.”   

Web3 is an idea for a new iteration of the world wide web that incorporates concepts such as decentralization, blockchain technologies and token-based economy. 

Blockchain technology can be used to resolve land disputes, agricultural problems and even end corruption, according to Saqib. Through transparency and immutability, the blockchain can be a decentralized guarantor that can’t be bribed, edited or biased.  

Asked about any problems he faced in fundraising through NFTs, Saqib said the "confused" government policies had been a challenge for the charity.  

“Lack of awareness among people about NFTs, setting up crypto wallets, and the generally confused policies of our government have posed some challenges to us,” he said. 

"We guide our donors on how to set up their crypto wallets and educate them about NFTs. With time we have seen inhibition around NFTs reduce, which is a good sign." 

Saqib said he would keep creating awareness about Web3, which hosts decentralized apps that run on blockchain technology, in Pakistan.  

“I will continue to advocate for and raise awareness regarding Web3 in Pakistan. Tayaba is just one platform to do that. We used NFTs primarily as an awareness-raising tool about Tayaba and the benefits of Web3 technology,” he said. 

“I am also working on another platform, Web3 Pakistan, which will provide free courses to Pakistanis becoming blockchain experts and developers. Web3 is going to be big and I don’t want Pakistan to be left behind yet again.” 


Pakistani firms bank on clinching ‘significant deals’ after debuting at Gulfood Manufacturing 2024

Updated 07 November 2024
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Pakistani firms bank on clinching ‘significant deals’ after debuting at Gulfood Manufacturing 2024

  • Around 29 Pakistani firms participated in Gulfood Exhibition 2024 from Nov. 5-7 in Dubai
  • Pakistani exhibitors say visitors from Middle East showed keen interest in their products

ISLAMABAD: After participating for the first time at the renowned Gulfood Manufacturing 2024 event in Dubai this week, Pakistani exhibitors on Thursday hoped the experience would help them clinch “significant deals” to penetrate markets in the Middle East.
Since 2014, Gulfood Manufacturing has been advancing the global food processing sector through innovation. This year, more than 1,200 suppliers from over 60 countries participated in the event held in Dubai from Nov. 5-7.
In a first, 21 Pakistani exhibitors took part in the tenth edition of the food and beverages trade fair under the Trade Development Authority of Pakistan’s (TDAP) umbrella.
Eight other Pakistani companies participated independently to showcase food ingredients, processing, packaging, printing, labeling, and supply chain solutions for the food and beverage industry.
Abdul Wahab, director of the Faisalabad-based food packaging machine manufacturer Nadeem Engineering Company, said businesses from across the Middle East showed keen interest in his organization’s machinery and other products.
“Our competitive prices and high quality helped initiate many business deals, which we hope to finalize in the coming weeks,” Wahab told Arab News.

Pakistani exhibitors interact with the visitors at Gulfood Manufacturing Expo in Dubai, UAE on November 05, 2024. (Photo courtesy: Pakistan mission UAE)

Wahab thanked the Pakistani mission in the UAE and TDAP for their support, saying it enabled them to create more business opportunities.
“We are optimistic about securing a few significant deals that will help us enter the vast Gulf market,” he added.
A dedicated Pakistan Pavilion at the trade fair helped Pakistani firms showcase their products to visitors from across the globe. 

Pakistani exhibitors interact with the visitors at Gulfood Manufacturing Expo in Dubai, UAE on November 05, 2024. (Photo courtesy: Pakistan mission UAE)

Sheikh Abdul Qayyum, the chief executive officer of the Karachi-based company Lunwa Biz Packaging, praised the Pakistan Pavilion Initiative by saying that it helped generate a “good response” from visitors.
“Some good deals and memorandums of understanding have been signed, and we are working to bring them to final maturity,” Qayyum told Arab News. He said his company hoped to achieve positive results and generate substantial revenue from these agreements.
“We received support from the TDAP, which made the booth valued at Rs2.5 million available to us for Rs0.7 million, allowing us to make efforts to utilize this opportunity,” Qayyum said. 

Pakistani exhibitors interact with the visitors at Gulfood Manufacturing Expo in Dubai, UAE on November 05, 2024. (Photo courtesy: Pakistan mission UAE)

Faraz Tayyab, the project manager of Dubai-based company Menras who designed and managed the Pakistan Pavilion, said over 100,000 people visited Pakistani stalls while exhibitors reported an excellent response for their products.
“One machine manufacturer even sold his display unit and signed a deal to send additional machines to the Dubai-based buyer from Pakistan,” Tayyab told Arab News.
Although it was their first time participating, Tayyab said Pakistani companies have made an impressive impact and will benefit greatly from this experience.
“It has opened the gateway for a bigger participation next year,” he said.


Four soldiers, five militants killed in northwest Pakistan operation — military

Updated 07 November 2024
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Four soldiers, five militants killed in northwest Pakistan operation — military

  • Security forces, militants traded fire in Karama area in South Waziristan, says military’s media wing
  • Pakistani has suffered surge in militant attacks since November 2022 in areas bordering Afghanistan

ISLAMABAD: Four Pakistani soldiers and five militants were killed during a gunbattle in the country’s restive northwestern Khyber Pakhtunkhwa (KP) province, the army’s media wing said on Thursday, as Islamabad grapples with surging militancy.
The exchange of fire between security forces and militants took place in South Waziristan’s Karama area on Wednesday, the Inter-Services Public Relations, the army’s media wing, said in a statement.
The army said four Pakistani soldiers were killed during the exchange of fire. These included Naib Subedar Taib Shah, 38, Lance Naik Gulab Zaman, 30, Lance Naik Muzammil Mehmood, 30 and Lance Naik Habibullah, 28.
“Resultantly, five Khwarij were sent to hell due to effective engagement by own troops,” the ISPR said, referring to the term the military uses for the Pakistani Taliban militants.
The army said it was conducting a sanitization operation in the area to eliminate any other militants.
“Security Forces of Pakistan are determined to wipe out the menace of terrorism and such sacrifices of our brave soldiers further strengthen our resolve,” it concluded.
Pakistan has been witnessing a spike in militant violence in its northwestern and southwestern regions that border Afghanistan, particularly after the Pakistan Taliban or the Tehreek-e-Taliban Pakistan (TTP) called off its fragile truce with the government in Islamabad in November 2022.  
The militant group, which is said to have sanctuaries in neighboring Afghanistan, is separate from but a close ally of the Afghan Taliban. 
Ties between Islamabad and Kabul have been strained as the former accuses the latter of sheltering TTP militants. Afghanistan denies the allegations and has urged Pakistan to resolve its security challenges internally. 


Pakistan says Trump election as US president won’t affect China ties

Updated 36 min 5 sec ago
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Pakistan says Trump election as US president won’t affect China ties

  • FO spokesperson says Pakistan wants to strengthen and broaden relationship with US 
  • Says Pakistan and US maintain ties via mutual respect, confidence and non-interference

ISLAMABAD: Pakistan said on Thursday its relations with key longtime ally China would remain “unaffected” by Donald Trump winning the US presidential election, as Islamabad walks a diplomatic tightrope between the two global powers.
Pakistan maintains a delicate balance in its relations with China and the US. While aligned with the US for military cooperation and counter-terrorism efforts, Pakistan has strengthened economic ties with Washington’s rival China through initiatives like the China-Pakistan Economic Corridor (CPEC).
Washington and Beijing’s ties remain strained as they compete for global influence, with the US seeking to maintain its dominance and China aiming to expand its reach. The two countries are often embroiled in disagreements over trade, Taiwan, the South China Sea and China’s Belt and Road Initiative.
This complex rivalry impacts Pakistan as it navigates its strategic partnerships with both world powers while grappling with a prolonged economic crisis.
“Pakistan’s relations with China are all-weather,” Foreign Office Spokesperson Mumtaz Zahra Baloch said during a weekly press briefing when asked if Trump’s victory will affect the country’s China policy.
“They are strategic and a source of stability in our foreign policy.” 
Baloch said Islamabad does not even need to consider the possibility that its relationship with China will be affected by any domestic development in another country.
She stressed that Pakistan’s relations with China have grown and expanded over the last several decades, emphasizing that the relationship remained immune to developments around the world.
Baloch dismissed claims that President-elect Trump could influence Pakistan’s politics as speculative, emphasizing that Pakistan and the US were “old friends” maintaining relations based on mutual respect, confidence, and non-interference.
In response to another question, the spokesperson said President Asif Ali Zardari and Prime Minister Shehbaz Sharif had already congratulated President-elect Trump on his presidential election win.
“Our relations with the United States are decades old, and we look forward to further strengthen and broaden Pakistan-US relationship in all fields,” she added. “As the Deputy Prime Minister said in a tweet yesterday, we look forward to fruitful and mutually beneficial cooperation between Pakistan and the United States.”
Pakistan and the US cultivated strong defense ties during the Cold War days yet their relationship was also tested by divergent priorities on various issues. 
However, tensions between the two countries escalated, particularly after 9/11, when US officials criticized Pakistan for not sufficiently supporting the American military efforts against the Taliban in Afghanistan.
Washington and Islamabad’s ties were further strained as the former suspected the latter of supporting the Taliban in its 2021 takeover of Kabul, allegations which Islamabad rejected. Tensions rose further in 2022 when former PM Imran Khan accused the Biden administration of orchestrating his ouster via a parliamentary vote, a charge the US denied. 
Pakistan, under Shehbaz Sharif’s two separate stints as prime minister in 2022 and 2024, has made attempts to improve its ties with the US.


Pakistan rejects reports of joint military operation with Iran against Baloch militant group

Updated 07 November 2024
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Pakistan rejects reports of joint military operation with Iran against Baloch militant group

  • Militant outfit Jaish Al-Adl claimed Pakistani, Iranian forces killed 12 of its members in joint operation in Saravan on Tuesday
  • Pakistani security forces conducted operation alone within its territory this week against smugglers, says FO spokesperson

QUETTA: Pakistan’s foreign office spokesperson on Thursday rejected reports that Islamabad and Tehran launched a joint military operation in the country’s southwestern border area this week to kill 12 militants, describing it as “fake news” despite a banned militant group claiming the action took place.
The spokesperson’s remarks followed militant outfit Jaish Al-Adl’s statement this week in which it claimed Pakistan and Iran’s forces on Tuesday carried out airstrikes against its fighters in the Iranian border city of Saravan, near Pakistan’s Panjgur district in Balochistan. It said the strikes killed 12 of its members and injured four others.
Iranian rights organization Halvash had also confirmed the development on social media platform X.
“First, I would like to state that this information is not correct. This is fake news,” Mumtaz Zahra Baloch, Pakistan’s foreign office spokesperson, said during her weekly press briefing. 
“Statement by terror groups should not be taken seriously.”
Baloch, however, confirmed Pakistani security forces had conducted an operation west of Panjgur to root out smugglers in southwestern Balochistan province.
“The operation took place 30 kilometers within our territory against smugglers, and this was undertaken by Pakistani security forces alone,” she disclosed.
Balochistan Levies, a paramilitary force responsible for law and order in the restive province, confirmed they received reports of an attack in Koh e Sabz area located 70 kilometers from Panjgur city on Tuesday.
“Three people were injured in the attack but we don’t know who carried out the attack in the remotest bordering area,” Shakeel Ahmed, a Levies soldier in Panjgur, told Arab News.
Ahmed said the paramilitary force did not know how many people were killed in the attack since Levies did not receive any bodies in Panjgur.
A local journalist in Panjgur said three persons injured in the alleged attack on Tuesday belonged to Peshawar, Karachi and Washuk cities of Pakistan. He said they were brought to Panjgur for medical treatment.
“The government officials in the district did not confirm the attack yet,” he told Arab News, speaking on condition of anonymity.
HISTORY OF ROCKY RELATIONS
Pakistan and Iran have had a history of rocky relations despite a number of commercial pacts between the two countries, with Islamabad being historically closer to Washington.
One of Iran’s poorest regions, Sistan-Baluchestan on the border with Pakistan has long been plagued by unrest involving drug-smuggling gangs, rebels from the Baloch minority and religiously motivated militants.
Jaish Al-Adl or “Army of Justice” has claimed responsibility for several attacks on Iranian forces in Sistan and Baluchestan over the years, straining ties between the two Muslim-majority countries.
Pakistan and Iran came to the brink of war in January this year after both countries launched cross-border strikes against armed groups and their hideouts operating in border villages.
Regarding this week’s visit by Iran’s foreign minister to Islamabad, Baloch said both sides had agreed to strengthen coordination on border areas.
“Both sides agreed that we will cooperate to ensure that the border between Pakistan and Iran will be a border of peace and amity, and we will strengthen coordination on all aspects of border security,” she said.


Pakistan stock market closes above 92,000 points thrice in a row after policy rate cut

Updated 07 November 2024
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Pakistan stock market closes above 92,000 points thrice in a row after policy rate cut

  • KSE-100 index climbs 499 points or 0.54 percent to close at 92,520.48 points on Thursday
  • Analysts say market responding to reduced interest rates, move to restart privatizations

ISLAMABAD: The Pakistan Stock Exchange (PSX) closed above 92,000 points for the third time in a row on Thursday, with analysts attributing the bullish trend to market volatility triggered by reduced interest rates and investors selling their stocks for profit. 
Pakistan’s benchmark index settled at 92,304.32 points on Tuesday and 92,021.44 points on Wednesday. As per the stock market’s official website, the benchmark KSE-100 index increased by 499 points or 0.54 percent on Thursday to close at 92,520.48 points. 
The bullish trend has been observed in the market since Monday when Pakistan’s central bank cut its key policy rate by 250 basis points to 15 percent. This was the fourth straight reduction since June, as the country keeps up efforts to revive a sluggish economy with inflation easing.
“The market is responding to reducing interest rates and, importantly, is also picking up on the government’s razor-sharp focus on the economy evidenced by the push to increase tax-to-GDP, attract FDI, and restart privatizations,” Raza Jafri, chief executive officer of leading financial services corporation EFG Hermes Pakistan, told Arab News.
He highlighted how lower interest rates were helping in creating valuation multiples at the KSE-100 but their “positive impact on the real economy will come with a lag.”
Jafri said the rally this year was led by banks, fertilizers and pharmaceuticals, adding that a rotation toward the construction, auto and oil marketing sectors more aligned with economic recovery was witnessed.
“An analyst at Topline Securities said the market showed notable volatility, with the index reaching a peak of 92,967 and dipping to a low of 91,891 as investors capitalized on profit-taking in large-cap stocks,” Topline Securities said in a social media post.

The development comes as the South Asian nation’s economic indicators continue to improve after it secured a $7 billion, 37-month bailout package from the International Monetary Fund (IMF) in September. 
Last year, Pakistan narrowly avoided a sovereign default when it clinched a last-gasp $3 billion IMF bailout program. The country has suffered a prolonged economic crisis that drained its foreign exchange reserves and saw its currency weaken amid double-digit inflation.