The cabinet observed that the case submitted to it was not in line with Rule 16 of the Rules of Business, which clearly defines the nature of cases that are to be submitted to it. In addition, the cabinet noted the violation of timelines and the disregard for stakeholder consultation. In the above case, the cabinet was asked to ratify the decision of the ECC to withdraw the FIR filed against LMKR. The cabinet declined to ratify the decision.
LMKR Holdings
LMKR Holdings Pakistan is a company that provides technology and consulting services to the oil and gas industry. Its core competencies include geoscience consulting, software development, and data management. Founded in 1994, LMKR has offices throughout the world. In Pakistan, the company’s largest offshore development center is located in Islamabad. The company provides geological and geotechnical data management, and mobile technology solutions. It also offers training simulations and automation of business processes.
LMKR is a global provider of petroleum engineering and information management solutions. It is owned by Actis, a leading private equity firm focused on emerging markets. In the US, it operates through its Halliburton subsidiary. Its main customers include Halliburton, a global provider of oilfield services.
LMKR GeoGraphix Discovery Suite
LMKR GeoGraphix is a geoscience software solution that helps the oil and gas industry to find and exploit hydrocarbons more efficiently. The software combines rich interpretation capabilities with a low IT overhead. Users can work together on subsurface data and share results using a web-based platform.
It is one of the world’s leading Microsoft Windows-based software solutions for the oil and gas industry, used by thousands of oil and gas companies and independent consultants around the world. It was initially developed in the US and now has over 8,000 licensed copies worldwide. The software is based on the Geographix platform and was acquired by LMKR from Halliburton of the USA in 2010.
LMKR GeoGraphix Discovery Suite has a new well planner that allows engineers to create and edit directional surveys more efficiently. This helps them reduce the time needed to develop a field efficiently. In addition, the new feature allows them to automatically clip well trajectories to lease setbacks.
LMKR GeoGraphix also comes with Convofy collaboration features for asset management teams. Users can push content to Convofy and collaborate on exploration, drilling, production, and investment options. The new feature enables asset teams to collaborate in a local, virtual, or remote environment.
LMKR’s partnership with Mastercard
A new partnership between LMK Resources Pakistan and Mastercard will enable passengers to pay for transit services online. The initiative aims to provide a frictionless and convenient way for people to use public transport in Pakistan. Currently, transit systems in Pakistan are limited to closed loop cards and cash. Those who use cash to pay for transit services must spend additional time and energy topping up their cards before using them. This new partnership will help to overcome this challenge by making transit services accessible to all.
Through this partnership, Mastercard and LMKR Pakistan will introduce the country’s first open-loop transit payment solution, enabling commuters to pay for transportation without the need for separate tickets. The solution will also enable people to use their digital wallets or debit cards to pay for transit services.
LMKR’s litigation
The government of Pakistan is considering the possibility of withdrawing the litigation between the Ministry of Information Technology and Telecom and LMKR Pakistan. According to a report issued by the Institutional Reforms Cell of the Prime Minister’s Office Islamabad, the lawsuits have affected the implementation of the e-governance programme.
A number of recommendations were made to the ECC by the IT ministry, including a cabinet-approved withdrawal of the complaint against the LMKR project and the withdrawal of FIA inquiries in the LMKR project. The recommendations were reviewed by the cabinet and the ECC constituted a committee to review the litigation.
LMKR Pakistan is a division of LMK Resources, a parent company, a customer, and joint venture partner. The legal relationship between LMKR Pakistan and its customers and partners is governed by the laws of the Islamic Republic of Pakistan. However, LMKR does not make any guarantees that the site will be error-free, uninterrupted, or secure.
In addition to limiting the use of the Site, LMKR has stated that all content and material on the Site are owned by LMKR. This means that if you use content from the site without acknowledging LMKR, you are violating its intellectual property rights.
LMKR’s open-loop payments initiative
In an effort to transform Pakistan’s transit system, Mastercard has formalized a strategic partnership with LMK Resources Pakistan (Private) Limited (LMKR Pakistan). The two companies will collaborate to deploy an open-loop transit payment solution that will let commuters pay transit fares through their debit or credit cards and digital wallets. This partnership will help Pakistan accelerate its digital transformation and improve the lives of citizens.
The open-loop payments initiative will make the transportation system more accessible and affordable for all Pakistanis. Until now, most transport providers in Pakistan have relied on cash or closed-loop cards, which require consumers to top-up in advance. This requires additional time and effort.
The new payment system offers several advantages over cash and closed-loop card systems. While closed-loop cards require cardholders to continually reload, open-loop payment is always connected to the consumer’s existing account. The new open-loop payments initiative also reduces the risk of counterfeit cards.
By partnering with government and private sector companies in Pakistan, Mastercard is seeking to accelerate the digital transformation of the country. With increased internet penetration, smartphone usage and a growing digital economy, Pakistan is primed to become a digital hub for payments. Mastercard believes that by 2021, 89% of consumers in Pakistan will use an emerging payment method.
