Wateen Telecom, Pakistan’s leading ICT and digital solutions provider, has entered into a strategic partnership with Akhuwat Foundation, a non-profit organization and one of Pakistan’s most distinguished microfinance institutions, to architect and implement an Agentic AI-powered, Smart Loan Automation platform that will establish a new standard for interest-free microfinance across the country.

The partnership contract was officially signed by Dr. Kamran Shams, CEO, Akhuwat Foundation, and Mr. Adil Rashid, CEO, Wateen Telecom. Dr. Muhammad Amjad Saqib­­­­­, Founder, Akhuwat Foundation, was also present at the ceremony along with senior representatives from both organizations.

Built on a shared commitment to purpose-led innovation, the collaboration brings together Wateen’s extensive expertise in advanced AI engineering, workflow intelligence, enterprise system architecture, and large-scale digital solutions with Akhuwat Foundation’s mission to expand financial inclusion with dignity and compassion. The Smart Loan Automation platform will support Akhuwat’s digital transformation journey and strengthen operations across the lending lifecycle.

Speaking at the ceremony, Dr. Muhammad Amjad Saqib­­­­­, Founder, Akhuwat Foundation, stated: “At Akhuwat Foundation, we believe that to serve more people effectively, our systems must evolve alongside our mission. By collaborating with Wateen, we are taking a meaningful step toward setting a new standard in the microfinance sector. This platform is designed to improve transparency and decision accuracy across the lending lifecycle, so that more people can have access with ease and confidence.”

Mr. Adil Rashid, CEO, Wateen Telecom, also shared his thoughts: “Wateen has always believed in anchoring technology with purpose to build a more digitized and empowered Pakistan. This partnership with the Akhuwat Foundation reflects our shared commitment to digital transformation. Together, we will shape a future-ready microfinance ecosystem that not only expands equitable access to financial services but also strengthens communities across Pakistan.”

Over the years, Akhuwat Foundation’s work has reached millions of individuals and families, contributing to greater economic resilience and social stability. Through the Smart Loan Automation platform, the foundation is further strengthening its ability to support inclusive financial access and advance long-term national economic progress.

This partnership further cements Wateen as a leading provider of enterprise-grade digital transformation solutions that fortify social and financial infrastructure at scale. By enabling Akhuwat Foundation’s transformation journey, Wateen is contributing to the development of a more resilient and scalable microfinance system – one that can adapt to growing demand while providing meaningful financial support to communities across Pakistan.

Apple is planning to start iPhone manufacturing in Pakistan under a new government-backed Mobile and Electronics Manufacturing Framework, in a move aimed at positioning the country as a regional export hub, reported Express Tribune.

The government has agreed to offer incentives, including an 8 percent performance incentive and provision of land at discounted rates, to attract the tech giant, said the report.

In addition to manufacturing, Apple has also agreed to refurbish used iPhones in Pakistan for re-export, with the government expecting $100 million in export proceeds in the first year.

The plan is part of a broader strategy to bring global technology companies into Pakistan by offering competitive incentives and building local manufacturing capacity.

Officials said Apple intends to initially focus on repairing two to three-year-old iPhones, a model it has previously implemented in countries such as India, Malaysia, and Indonesia, before moving into full-scale manufacturing.

The new framework proposes increasing performance incentives from the current 6 percent to 8 percent to attract investment from Apple and other international manufacturers.

Authorities said the policy has received support from senior government leadership and is expected to be approved soon. The government is also targeting wider investment in the electronics sector, including laptops, tablets, wearables, and accessories, as part of its long-term industrial strategy.

Chinese companies are expected to invest around $557 million in mobile manufacturing, following agreements signed during the Prime Minister’s recent visit to Beijing.

As part of the localization push, manufacturers have committed to increasing the use of locally produced components from the current 12 percent to 35 percent in the first year, with a longer-term target of 50 percent.

The policy also proposes an export levy of up to 6 percent on high-end mobile phones to fund technology development, with an expected collection of Rs. 62 billion. Lower-priced phones in the Rs. 50,000 to Rs. 60,000 range will remain exempt.

Separately, the government is expanding its electric vehicle policy. A subsidy of 40 percent has already been introduced for electric two-wheelers, backed by Rs. 9 billion in funding.

The report said the scope may now be extended to electric four-wheelers, with plans underway to introduce low-cost vehicles priced between Rs. 0.7 million and Rs. 0.8 million.