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Pakistani Investor helping shape the future of global gaming

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Pakistani Investor helping shape the future of global gaming

ISLAMABAD: Born and raised in Pakistan, Ibrahim Hafeez never imagined he would one day stand at the heart of the world’s fastest-growing entertainment industry. Gaming and venture capital weren’t even on his radar. Today, however, he is helping guide more than $1.5 billion in investments that are reshaping how the world plays.

Hafeez entered the gaming industry at one of its most dramatic turning points—working on global licensing strategy at EA Sports during the historic split that ended its iconic partnership with FIFA and gave rise to EA Sports FC. What began as an entry-level role quickly became a powerful awakening. He witnessed firsthand how intellectual property, sports rights, and global business strategy collide inside a multi-billion-dollar ecosystem.

That experience ignited a lasting passion at the intersection of intellectual property, gaming, and investment.

Today, as a Principal at Griffin Gaming Partners—one of the world’s largest gaming-focused venture capital firms—Hafeez is no longer just observing the industry. He is actively shaping it.

He has led or supported more than 30 investments across game studios, platforms, and gaming infrastructure, helping deploy over $150 million into some of the industry’s most influential companies.

Yet Hafeez’s impact extends well beyond Silicon Valley and Hollywood. Over the past year, he has spent considerable time in emerging markets such as Turkey and the Middle East—meeting founders on the ground, unlocking new pools of regional capital, and strengthening Griffin’s presence in regions where gaming growth is accelerating at record speed.

His latest milestone includes leading a $7 million investment in Turkish studio Fuse Games, signaling Griffin’s aggressive push into high-potential markets often overlooked by traditional Western venture capital.

Industry insiders now view Hafeez as a vital bridge between global gaming capital and emerging-market innovation—and as a powerful symbol of Pakistani talent rising to leadership at the highest levels of technology, business, and entertainment.

From a childhood with little access to gaming to deploying hundreds of millions of dollars into the companies defining its future, Ibrahim Hafeez is not just investing in games.

He is redefining where the next generation of gaming power players will come from.

Pakistan Railways earns over Rs 300b in four years

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Pakistan Railways earns over Rs 300b in four years

LAHORE, Dec 7 (APP): The Pakistan Railways (PR) continues to move toward financial stability, as it has earned over Rs 300 billion in four years from various revenue streams.

According to the documents available with Wealth Pakistan, the department has earned a total of Rs306.203 billion from FY2021-22 to FY2024-25.

Year-wise revenue stands at Rs60.092 billion in 2021–22, Rs 63.718 billion in 2022–23, Rs 88.792 billion in 2023–24, and Rs 93.601 billion in 2024–25.

Similarly, the department incurred operating expenses of Rs67.699 billion in 2021-22, Rs 72.178 billion in 2022-23, Rs88.380 billion in 2023-24, and Rs 89.269 billion in 2024-25.

According to the documents, the Pakistan Railways generates revenue through several major streams, with passenger services as the primary source.

Freight operations form another key revenue stream, transporting petroleum, coal, cement, agricultural products, and other items across the country. Rented or leased railway property and assets, and management of trains, stations, and terminals through public-private partnerships are also sources of revenue generation.

The department has recently taken several steps, such as executive washrooms, free Wi-Fi, escalators at major stations, modern dining cars with hygienic food, and improved cleanliness standards in partnership with the waste management department.

The department’s management efforts have had a very positive impact on passenger satisfaction levels. Train punctuality has significantly improved, as it was 81 percent in 2021–22, 79 percent in 2022–23, and 82 percent in 2023–24.

The ministry is proactively engaging private parties through leasing and outsourcing of services, such as commercial management of trains, terminals, and stations. So far, six passenger trains have been outsourced, while the outsourcing of 11 more passenger trains is in process.

Moreover, the commercial management of 20 brake vans and 14 simple vans has been outsourced.

The document further reveals that the department has undertaken a third-party audit by the Auditor General of Pakistan to ensure transparency.

A senior official of the Ministry of Railways told Wealth Pakistan that the focus is now on long-term reforms to improve operational efficiency and financial stability of the department.

He said some other improvements, such as upgradation of tracks and modernization of the signaling system, are direly needed.

The official said prioritizing digital transformation by promoting online booking systems is also essential, adding that mobile applications and automated ticketing services across the railway network will enhance the department’s efficiency and performance.

Efforts are underway to expand the freight corridor to attract larger commercial clients and increase the cargo handling capacity.

“These initiatives will strengthen the PR’s revenue base and reduce its reliance on government subsidies,” the official said.

Punjab achieves 99pc of wheat sowing target for 2025-26

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Punjab achieves 99pc of wheat sowing target for 2025-26

ISLAMABAD, Dec 05 (APP): Punjab has achieved 99 percent of its wheat cultivation target for 2025-26, Naveed Asmat Kahloon, Director General of the Punjab Agriculture Department said. “About 99 percent of the target area in the province is now under wheat cultivation,” he told Wealth Pakistan.

He said the Crop Reporting Directorate had reported wheat sowing on 98 to 99 percent of the targeted 16.5 million acres. “Within the next few days, 100 percent of the sowing target is expected to be achieved,” he added.

Naveed said that all agricultural inputs, including fertilizers, were made available in abundance during the sowing season to facilitate farmers. He further noted that a zero-tolerance policy was being enforced against counterfeit pesticides and fertilizers.

To incentivize wheat cultivation, the Punjab government is organizing wheat production competitions in which farmers achieving higher per-acre yields will receive cash prizes worth millions of rupees, along with tractors.

At the provincial level, the first prize is an 85-horsepower tractor, the second a 75-horsepower tractor, and the third a 60-horsepower tractor. At the district level, the first prize is Rs1 million, second Rs0.8 million, and third Rs0.5 million.

Agriculture experts say weather conditions are currently very conducive for the wheat crop in Punjab, as temperatures are gradually decreasing in line with the crop’s requirements.

“So far, the weather is favorable for the cereal crop, but it is difficult to predict with certainty how the weather and other circumstances will unfold in the coming days,” Dr Anjum Ali Buttar, consultant at the Punjab Agriculture Department, told Wealth Pakistan.

He confirmed that wheat had been sown across most of the targeted area in Punjab. However, some areas where sugarcane is still standing have not yet been made available for wheat cultivation, he added.

“Hopefully, wheat sowing will be completed in these areas as well, as sugarcane crushing is now in full swing across the province,” Dr Buttar said.

He noted that the optimal sowing window in Punjab runs from November 1 to November 30 each year, though circumstances can sometimes alter this slightly.

Dr Buttar also expressed the confidence that the province would meet this year’s target of 22 million tons.

Guddu Barrage rehabilitation reaches 75%, Sukkur at 35%

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Guddu Barrage rehabilitation reaches 75%, Sukkur at 35%

ISLAMABAD, Dec 04 (APP): Rehabilitation of Guddu and Sukkur barrages under the Sindh Barrages Improvement Project has made significant progress, with completion rates of 75% and 35% respectively, reports Wealth Pakistan.

The project includes the replacement of gates, which is expected to enhance operational efficiency for timely water diversion into canals.

This improvement will, in turn, boost irrigation for seasonal crops, thereby increasing yields and strengthening the agricultural economy.

Deputy Director of Sindh Barrages Improvement Project Abdul Fatah Memon told Wealth Pakistan that both barrages are the backbone of the irrigation system in Sindh. Rehabilitation of both barrages, funded by the World Bank, is scheduled for completion by December 2027.

Memon explained that the rehabilitation and modernization of the two barrages primarily aims to strengthen operations and management as an integrated system, focusing on water allocation, sediment management, and maintenance.

Data from Planning and Development Department reveals that significant progress has been made under the project, with 75% completion at the Guddu Barrage and 35% at the Sukkur Barrage.

During the Fiscal Year 2024-25, the project received essential components, including 28 main weir gates, 20 hoisting systems, and six motor trolleys. In total, 37 barrage gates have been replaced, and associated civil repair work has been completed. However, three additional gates at the Guddu Barrage are still under construction.

While the plan is set for completion by the end of the Fiscal Year 2025-26, a coffer dam will be constructed to facilitate the replacement of gates at the Sukkur Barrage. The primary aim of this temporary dam is to conserve water for irrigation purposes during the rehabilitation work. It will hold back river water to create a dry work environment, allowing for construction activities to proceed safely and protecting the area from flooding during the installation or repair of irrigation systems.

During the current fiscal year, 15 gates at the Sukkur Barrage will be replaced, along with the installation of new hoisting systems.

Additionally, 20 more gates will be replaced at the barrage, which will also see upgraded hoisting systems, according to officials from the Planning and Development Department.

Abdul Fatah Memon emphasized that this comprehensive initiative not only aims to enhance the infrastructure but also to improve the overall efficiency of the irrigation system in Sindh.

These two barrages cover a vast irrigated land. The project reflects a commitment to modernizing these structures, ensuring they effectively support the region’s agricultural needs and facilitate the timely diversion of water to canals, he added.

Given that these barrages have been in use for decades, their operational processes have been hindered by the outdated systems. The planned improvements are expected to significantly improve the operational efficiency of the irrigation system, added Memon.

NHA to spend Rs22 billion on two major road projects in Gilgit region

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NHA to spend Rs22 billion on two major road projects in Gilgit region

ISLAMABAD, Dec 03 (APP): The National Highway Authority (NHA) will spend more than Rs22 billion on two major road projects aimed at improving connectivity and accelerating socio-economic development in the Gilgit region.

According to documents available with Wealth Pakistan, the NHA has approved the construction of the 153-kilometre Chitral–Booni–Mastuj–Shandur (CBMS) Road and the 46-kilometre Chitral–Ayun–Bumburate (CAB) Road. Together, the two routes—spanning nearly 200 kilometres—will cost Rs22.44 billion and cover key localities in Chitral, Shandur and Bumburate.

The CBMS Road will be constructed at an estimated cost of Rs 17.78 billion, while the CAB Road will require Rs 4.65 billion.

A senior official at the Ministry of Communications told Wealth Pakistan that the CBMS Road will consist of two lanes with a 100-metre right of way. It has been divided into four sections: Chitral–Pret (39 km), Pret–Booni (40 km), Booni–Shaidas (38 km), and Shaidas–Shandur (35 km).

He said physical work on the project has already begun. “As planned, the CBMS Road will start in Chitral and reach Shandur, covering localities such as Mori Payeen, Maroi, Pret, Barenis, Green Lasht, Reshun, Cherun, Jonali Cooch, Booni, Mastuj, Parwak, Laspur River, Onshit, Shaidas, Ghast, Raman, Harchin, Brook, Balim and Surlaspur,” he explained. Once completed, the road will provide a strong linkage between two major national highways — N-45 and N-35 — and also serve as an alternative route for economic activities during snowfall when other major routes are closed.

Similarly, the CAB Road project will be completed in two sections, and construction has already begun on the first segment. The route will significantly improve access to Ayun Valley and the scenic Kalash Valley.

He said the new roads would help ease traffic congestion on connected routes by distributing the vehicle load more efficiently and reducing bottlenecks across Chitral and neighbouring valleys.

NHA Spokesperson Mazhar Hussain told Wealth Pakistan that the two projects are expected to generate major economic benefits for the region. “Improved connectivity between Chitral, Shandur and Bumburate will reduce travel time for traders and transporters, lowering the cost of moving agricultural products, gemstones, handicrafts and other local goods to markets in Khyber Pakhtunkhwa and Gilgit-Baltistan,” he said.

He added that upgraded access is also likely to boost tourism in the Kalash and Upper Chitral valleys, encouraging private investment in hospitality, transport and small businesses.

“Socially, the new roads will offer residents safer, all-weather mobility, improving access to schools, hospitals and government services. They will also strengthen emergency response by enabling faster movement of rescue teams during harsh winters or natural disasters,” he said.

According to estimates, more than 350,000 people across the three valleys will directly benefit from smoother travel, better supply chains and more job opportunities emerging from construction activities and tourism expansion.

GB launches first energy-sector public–private partnership for 24/7 power in Hunza

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GB launches first energy-sector public–private partnership for 24/7 power in Hunza

GILGIT: The Government of Gilgit-Baltistan and NPAK Energy Limited — a subsidiary of Industrial Promotion Services (IPS) of the Aga Khan Fund for Economic Development (AKFED) — has signed a set of operational agreements that formally initiate the region’s first energy-sector public–private partnership.

Under the agreements, NPAK Energy will assume responsibility for power generation, transmission, and distribution across Hunza District from 1 January 2026.

The signing marks a major milestone in implementing the long-term partnership envisioned in the 2020 Concession Agreement between the two sides. Under that agreement, the Government of Gilgit-Baltistan retains ownership of all energy assets in Hunza, while NPAK Energy takes over operational management for a 30-year term.

The initiative aims to provide reliable, affordable, and uninterrupted 24/7 electricity to all residents of Hunza, supporting economic development, improving public service delivery, and enhancing climate resilience in one of Pakistan’s most important tourism hubs. As part of their broader cooperation, an Energy Master Plan for Gilgit-Baltistan is already under development to guide future investments and explore opportunities to expand the partnership model to other districts.

As a subsidiary of IPS — the industrial and infrastructure development arm of AKFED — NPAK Energy brings extensive global experience in clean energy, utility operations, and rural electrification. Working alongside the Gilgit-Baltistan government and development partners, the company will increase Hunza’s generation capacity, strengthen transmission and distribution systems, and improve operational efficiency. It will also launch a Corporate Social Responsibility programme focused on community development, environmental protection, youth skills training, and other local priorities.

All employees currently serving under the Water and Power Department in Hunza will retain their positions, ensuring continuity for workers and their families. NPAK Energy has committed to investing in staff training, professional development, and modern operational practices while fostering a safe, inclusive, and performance-driven work environment.

With these agreements now in place, the Government of Gilgit-Baltistan and NPAK Energy have reaffirmed their shared commitment to improving service standards, expanding reliable energy access, and positioning Hunza as a model for clean, efficient, and resilient utility management in Pakistan.

Pakistan developing five heat-tolerant varieties for 47°C conditions

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Pakistan developing five heat-tolerant varieties for 47°C conditions

ISLAMABAD, Dec 2 (APP): Scientists at the Central Cotton Research Institute (CCRI) are working on five new cotton varieties that can survive temperatures of up to 47°C, offering a possible shift for farmers struggling with climate pressure.

The research is part of a wider effort to revive cotton production, which has been declining due to extreme heat, erratic weather, pests, and disease, said a press release issued here on Tuesday.

CCRI officials said the new varieties aim to help growers in the plains of Punjab, where temperatures during the sowing and fruiting stages often exceed levels that current crops can tolerate.

Sajid Mahmood, Head of Technology Transfer at CCRI Multan, told Wealth Pakistan that the work focuses on heat and drought tolerance as well as resistance to major pests and diseases.

He said the institute has already developed Bt Cyto-511, a variety that has gained quick acceptance in Punjab for maintaining performance even at 45°C. The next set of varieties is being designed to survive up to 47°C.

Other varieties produced by the CCRI so far include Bt CIM-775, Cyto-537 and CIM-343. These triple-gene types are built to handle climate stress, fend off multiple bollworms, tolerate drought and allow the use of specific herbicides for better weed control.

Mahmood noted that shifting weather patterns have altered Punjab’s sowing window. A decade ago, cotton was planted soon after wheat harvest in late April. But now, temperatures from 40°C to 47°C in May have caused many crops to lose flowers and bolls before they form. “Our priority is to develop seed that can hold fruit even under severe heat,” he said.

Beyond heat-tolerant varieties, CCRI scientists are also working on extra-long staple cotton—up to 34 millimeters—and naturally colored cotton in brown, green and blue. However, farmers have avoided these options because of lower yields.

Funding constraints have long affected cotton research, but Mahmood said the situation is improving after an agreement between the Pakistan Central Cotton Committee (PCCC) and the All Pakistan Textile Mills Association (APTMA). The deal requires textile mills to clear outstanding cotton cess payments, which help finance the CCRI in Multan and Sakrand.

APTMA Secretary General Punjab, Raza Baqir, said mills have been paying Rs50 per 170-kg bale in cess for decades and are now settling arrears under the July agreement with the PCCC. He said the contribution, though small, supports ongoing research.

54 business ideas by female university students shortlisted for seed funding

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54 business ideas by female university students shortlisted for seed funding

ISLAMABAD, Dec 01 (APP): The Punjab Women Development Department has shortlisted 54 business ideas submitted by students from 40 universities across the province for seed funding.

Salma Saadia, Parliamentary Secretary for Women Development Department, told Wealth Pakistan that these ideas would be funded by the Youth Pitch Program, which has been initiated to empower female innovators across the province.

She said Chief Minister Maryam Nawaz aims to nurture entrepreneurial talent among female university students in Punjab.

The department will strive to equip young women with the confidence, skills, and support needed to transform their business ideas into viable startups.

The government’s slogan “Muzboot Aurat, Muzboot Punjab” (Strong Woman, Strong Punjab) encourages students to envision a practical future beyond graduation.

The initiative focuses on ensuring that women have a clear professional direction, helping them enter the workforce with purpose and preparedness.

Female students from 40 universities engaged by the Women Development Department were invited to participate, helping generate many ideas and representations from institutions across the province.

A structured and transparent selection framework has been adopted. Students applied online and submitted their startup concepts.

A faculty committee in each participating university reviewed the submissions and shortlisted business ideas under three thematic areas, ensuring alignment with program goals, she added.

Currently, 54 innovative ideas have been shortlisted for the next phase.

The shortlisted participants will be invited to present their ideas next month.

The department has planned training sessions for them.

This platform creates a collaborative environment, allowing young women to learn, grow, and showcase their entrepreneurial potential, Salma added.

To support the best concepts, the department plans to award seed money ranging from Rs500,000 to Rs1 million to the top 10 business ideas, helping students kickstart their startups and bring their visions to life.

Salma said for the Financial Year 2025–2026, Rs35 million has been allocated to implement and expand the Youth Pitch Program.

The project has been digitized to ensure transparency.

Yamena Ahmed, a university student, told Wealth Pakistan that female students in Punjab feel very encouraged due to the program, as it gives them a real chance to turn their ideas into reality.

She said it is inspiring to see the government supporting women and providing seed money to help develop their ideas. This approach will create hope and motivation for students like her to pursue entrepreneurship seriously.

Yamena said women are working shoulder to shoulder with men in different fields, and she feels proud that a woman chief minister is leading Punjab and providing ample opportunities to women to excel in every field of life.

AKU brings leaders together to advance climate-resilient cities in Pakistan

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AKU brings leaders together to advance climate-resilient cities in Pakistan

KARACHI: The Aga Khan University’s Institute for Global Health and Development (IGHD) convened leading architects, urban planners, public health professionals, development specialists and senior government representatives at its Annual Conference 2025 to address a defining national challenge: how to redesign Pakistan’s homes, neighbourhoods and public systems to withstand escalating climate pressures.

The conference, held in partnership with the Sustainable Development Solutions Network (SDSN) Pakistan under the leadership of IGHD Founding Director Professor Zulfiqar A. Bhutta, focused on the theme “Climate Change and the Built Environment: Promoting Resilience & Adaptation in Low-Income Settings.”

A special statement by His Highness the Aga Khan, read at the opening session, underscored the urgency of climate adaptation. “Climate change is one of the greatest threat multipliers of our era. Its impacts intensify disease, malnutrition, displacement, learning loss and poverty,” he said. “These burdens fall disproportionately on women, children, older adults and marginalized communities. Addressing them is not optional; it is imperative for equity, stability and sustainable development.” He stressed that progress “will depend on partnership,” welcoming participants from Pakistan and across the world.

The inaugural session featured Chief Guest His Excellency Tariq Khan, High Commissioner of Canada to Pakistan. “Canada is helping countries like Pakistan confront climate-driven vulnerabilities,” he noted. “The ideas shared at this conference can help shape a more sustainable future for millions of people.”

Joining virtually, Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal emphasized the national imperative for climate adaptation. “Pakistan’s future will depend on how boldly we reimagine our cities, homes and public institutions in the face of climate change. Building resilience is not optional — it is a national development priority,” he said. “Conferences like this help translate research into policies that make environments safer, more inclusive and climate-adaptive.”

Keynote presentations by Professor Sajida Haider Vandal (THAAP), Christopher Burman and Joseph Augustine (UCL), and Dr Zahra Hussain (Laajverd) highlighted climate-smart architecture, indigenous design solutions and community-led adaptation models.

Addressing the gathering, AKU President Dr Sulaiman Shahabuddin reiterated the University’s long-term commitment to climate adaptation. “Climate change is reshaping every aspect of life in Pakistan. Our responsibility as a university is to help the country design smarter, safer, more resilient environments,” he said. “AKU is committed to generating evidence, solutions and partnerships that support adaptation at scale.”

The inaugural session concluded with reflections that set the direction for the rest of the conference, which will explore rural adaptation, climate-resilient health systems, indigenous knowledge, community innovations and a high-level national policy dialogue.

Punjab plans to impart textile skills training to 2,500 rural women

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Punjab plans to impart textile skills training to 2,500 rural women

ISLAMABAD, Nov 30 (APP): The Punjab Women Development Department has selected around 2,500 rural women for hands-on training in various textile-related fields, with the government committed to ensuring employment opportunities for the trained women within their own cities.

Briefing members of the Punjab Assembly, Additional Secretary of the Women Development Department (WDD) Faiza Ahsan said that under the ‘She Threads’ program, women will be linked with different textile industries where they will receive practical, on-site training, said a press release issued here on Sunday.

She said that once training is completed, immediate efforts will be made to secure their employment in the same locations. She further noted that the Punjab Skills Development Fund (PSDF) is the executing partner for the initiative.

According to information available with Wealth Pakistan, WDD Secretary Dr Usman Ali told the participants that the most important outcome—described as the program’s core “punch line”—is to ensure the employability of the 2,500 women. The program focuses on developing textile-sector skills, and the selected women will receive on-premises training in around 29 textile trades.

Parliamentary Secretary for Women Development Salma Saadia said that Punjab chief minister wanted women to acquire diverse skills and contribute to the province’s key export industry.

She emphasized that She Threads differs from the Garment City program of the Industry Department, which focused mainly on training machine operators. The WDD program teaches more than 24 trades, including dyeing, stitching, quality control, and floor management. It targets low- and middle-income women who might otherwise rely on domestic labor. To help them participate, the program offers pick-and-drop services and financial incentives to support household expenses during the training period, she explained. She said that job security at the training locations would be ensured immediately upon completion of training.

Dr. Ali noted that the project was at the past conceptual stage and all agreements had been finalized. Five locations; Faisalabad, Multan, Sheikhupura, Sialkot and Lahore have been selected for contract signing, and classes are scheduled to begin on December 10, he said and added that contracts were awarded through a competitive bidding process, with major industry players such as Interloop, Kohinoor, Asgard Lahore, Shahkam and Master among the winners.

He also noted that the financial outlay for She Threads program for the current fiscal year (FY 2025–26) was Rs150 million. Due to the limited allocation and strong industry demand, each industry requesting 600 trained women, the department plans to conduct a third-party evaluation by the end of the fiscal year, he said and added that the WDD intended to seek a higher allocation for the program in the next Annual Development Program (ADP).

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