Telecard’s Subsidiary Wins Rs. 100 Million Contract From SBP

Telecard Limited has disclosed that its subsidiary Supernet Limited has been awarded a contract of Rs. 100 million by the State Bank of Pakistan (SBP) for a project related to information technology and cyber security.

According to a notification issued to PSX, the contract involves supply, installation, maintenance and technical support of Next Generation intrusion detection and prevention system (IDPS) to secure SBP infrastructure from advanced persistent threats (APT).

The IDPS solution will provide SBP with the state-of-art identification of vulnerable exploits and unidentified threats originating against any targeted system, applications and software.

In addition, the IDPS will provide remedial measures, as and when any malicious behavior is detected. The solution will operate by scanning all network traffic on the client’s gateways detecting and protecting against threats like Denial-of-Service (DoS), distributed denial-of-service (DDoS), worms and viruses, additionally creating a second layer of defense to SBP’s security framework.

Securing the contract from the central bank was a challenge and allows the company to win more clients by the successful execution of the project.

Telecard, directly and indirectly, through its subsidiary has been working to diversify its business portfolio in different technological spheres.

Hence, the board of directors has decided to change its name from Telecard Limited to Telecore Technologies Limited. In order to broaden the scope of work, the company is also working to amend its memorandum and articles of association.