Access to cellular services exceeds 91 percent says PTA report

Morning! Last newsletter of the year, friends.

Here’s to hoping 2025 brings us editions that rant cover less about inflation and terrible Wi-Fi, and more about about soaring stocks, free healthcare (thanks to Luigi Mangione?), and Wi-Fi so good it feels illegal.

I guess, we’ll see you next yea— gets slapped across the face for lame-office-humour.

In this week’s edition:

🛒 What everyone added to cart in 2024

🏦 Banks ADR update

📲 The friend who’s least likely to leave you on read

📡 PTA for the year 2023-24 

- The Itla Squad 💼

Business

Global 🌎️

‘Add to cart’? More like, ‘Exit browser after seeing total’

Add to cart... but what exactly did everyone add in 2024? Turns out, not much.

Rising housing and food costs left many in the U.S. broke, forcing big changes in how people shopped and ate, with some companies doing well and others struggling to survive. The Associated Press shared some retail trends for the year 2024:

The details:

• Walmart gained more high-income shoppers (earning $100,000+ annually) by offering affordable groceries, which make up 60% of its sales. New stylish clothes and online services helped keep these customers coming back.

• Amazon launched Amazon Haul to sell items under $20 and had record Prime Day sales. It may face challenges from possible tariffs and worker strikes.

• Fast-Casual Restaurants chains like Cava (with a 33% rise in revenue) and Chipotle attracted diners looking for fresh, affordable meals. Chipotle improved portions to win back customers.

• Sadly for skinny jeans, wide-leg jeans fashion trend boosted sales at all price points—from $29 Walmart jeans to $1,200 Gucci ones.

• Big-ticket retailers stores like Best Buy and Home Depot saw fewer sales of expensive items like appliances and home remodeling materials as people avoided big purchases.

Way forward: To succeed, businesses need to adapt to customers’ focus on value and affordability. Offering good deals, improving online shopping, and staying in touch with trends can attract more buyers.

TLDR: In 2024, high housing and food costs changed how people in the U.S. shopped and ate, with many opting for affordable options. Walmart and Amazon thrived by offering value, while fast-casual restaurants like Cava and Chipotle saw growth. To succeed, businesses must focus on value, great deals, and adapting to online trends.

What else is new in news

✶FIFA and Netflix have signed a deal to broadcast the 2027 and 2031 Women’s World Cup in the U.S., making Netflix the first platform to stream the entire tournament live.

FIFA President Gianni Infantino praised Netflix for its $$$ commitment to growing women’s football.

Local 🇵🇰

Sometimes, banks scramble for get done things at the last-minute too

Banks are rushing to meet the 50% advance-to-deposit ratio (ADR) deadline by December 31 given by the government, much like students scrambling to hit their essay word count at the last minute.

In just four months, banks boosted lending by 27%, overcoming the earlier challenges of high-interest rates to get closer to the target.

The details:

• The ADR increased from 38.4% in August to 49.7% by December 6, 2024 as banks lent Rs1.35 trillion to people and businesses from July to December.

• Bank deposits dropped by 1.6%, but lending increased by 27.6%.

• Banks put Rs1.33 trillion into other financial companies to manage extra money they had.

• The government borrowed less money from the central bank, giving banks more funds but also making it harder for them to meet the required lending target.

Moving ahead: Banks will likely keep adjusting their lending to meet the ADR target and avoid extra taxes. However, if the government moves forward with taxing based on the average ADR, banks, especially those with foreign investors, might resist.

TLDR: Banks are scrambling to meet the December 31 deadline for the 50% advance-to-deposit ratio (ADR), increasing lending by 27% over four months to get closer to the target. Despite a 1.6% drop in deposits, banks have been lending more and investing in other financial companies.

News Flash

✶ The tax office also wants its share of fun from this year’s shaadi season.

The Regional Tax Office-I (RTO-I) in Karachi has begun cracking down on marriage halls for failing to follow tax laws under Section 236CB of the Income Tax Ordinance 2001. Four marriage halls were identified for not deducting and collecting taxes on customer services, despite repeated warnings.

Tech

Global 🌎️

Your WhatsApp-situationship has some competition

If you hate logging in to use ChatGPT, OpenAI just made using it as easy as making a WhatsApp phone call or message - literally.

Now, you can dial up ChatGPT for a quick chat or ping it on WhatsApp like you're texting a friend (who’s going to tell ChatGPT how popular it’s about to become among brown moms and dads?).

The details:

• U.S. users can call 1-800-CHATGPT to talk to ChatGPT, or add 1-800-242-8478 to your WhatsApp contacts and start chatting. No OpenAI account is needed.

• ChatGPT can help with tasks like answering questions, translating languages, and explaining topics.

• Each phone number gets 15 free minutes of calls every month.

Way forward: These new features could help more people try AI and see its benefits. If successful, other companies might create similar tools, making AI a bigger part of everyday life.

TLDR: U.S. users can call 1-800-CHATGPT or text 1-800-242-8478 on WhatsApp to chat with ChatGPT where no OpenAI account needed. Each number offers 15 free call minutes monthly to answer questions, translate, or explain topics. This could make AI more accessible and inspire similar innovations.

What else is new in news

✶ OpenAI announced plans to become a public benefit corporation (PBC) in 2025, allowing it to operate more like a high-growth startup and raise capital from conventional investors (it was previously a non-profit company).

This change is because the AI market needs a lot of $$ to function and compete. The nonprofit arm will remain involved but focus on charitable activities in health, education, and science. However, the restructuring faces opposition, particularly from Elon Musk, who has sued to stop the transition.

Local 🇵🇰 

PTA for the year 2023-24

Your boss isn’t the only one who’s on your a*s about the year end reports.

The Pakistan Telecommunication Authority (PTA) shared updates about improvements in telecom services for the year 2023-24.

The details:

• Broadband users grew to 142.3 million, an increase of 91% over the last five years. Broadband now covers 58.4% of the country.

• A new 6GHz spectrum was introduced for faster internet, making Pakistan the 10th country in Asia to use advanced Wi-Fi technology.

• The PTA blocked 5.8 million inactive SIMs and introduced new security systems to reduce fraud.

• Pakistan moved up 39 places in the Global Cybersecurity Index, from 79th to 40th.

• The PTA resolved 99.3% of the 191,514 consumer complaints received (Lies!).

Zooming out: The 5G rollout will start in mid-2025, which will help improve healthcare, manufacturing, and smart cities but will need to find ways to make sure rural areas also get access. The PTA will keep working on improving digital security, internet services, and customer support to make sure everyone benefits from these changes.

TLDR: In 2023-24, Pakistan made significant strides in telecom services. Broadband users grew by 91%, reaching 142.3 million. Looking ahead, 5G will launch in mid-2025, improving various sectors, though access in rural areas remains a challenge.

Tech tour of news

✶ A report by the Pakistan Software Houses Association (P@SHA) says that using Agri-Tech solutions like AI, IoT, and blockchain could help increase crop production by 30% and cut post-harvest losses by 75%. This could add $8-10 billion to Pakistan's economy each year.

More interesting Itla (اطلاع) we consumed:

🍿 Watched Entergalactic movie and it delivered on all fronts: soulful romance, stunning Spider-Verse-style animation, and a soundtrack that you find yourself searching on Spotify long after the credits roll.