Government to Soon launch a New Digital Payment System

The government of Pakistan is taking measures to facilitate digital outward remittances for IT companies, according to the Minister of State for IT & Telecom, Shaza Fatima Khwaja. The move will allow IT exporters to easily pay international vendors and without going through conventional banking channels or seeking the State Bank of Pakistan’s approval for each transaction.

“It will be a complete paradigm shift of the whole society, economy, and the government in the country,” Khwaja said while addressing the HBL-P@SHA ICT Awards ceremony 2024. She explained that these changes aim to increase the global competitiveness of Pakistani IT firms.

Khwaja also praised the HBL-P@SHA ICT Awards for empowering innovators, startups, and students, and also offering them a chance to perform on international platforms such as the Asia-Pacific ICT Alliance (APICTA) Awards. The minister also mentioned that the government’s new smartphone initiative will allow youngsters to become self-employed and explore digital business opportunities.

The event was organized by the Pakistan Software Houses Association (P@SHA) in partnership with HBL.  It honored 33 Gold Award winners and 47 Merit Award recipients in different categories including Consumer, Business Services, Inclusion and Community, and Student Innovation.

P@SHA Chairman Muhammad Zohaib Khan highlighted the association’s efforts to boost the country’s digital economy, create jobs, and ensure transparent governance. “Our efforts have directly contributed to the consistent rise in IT exports, which reached $3.22 billion this year,” he noted.

The HBL’s Chief Innovation & Financial Inclusion Officer, Abrar Ahmed Mir, acknowledged that the bank’s partnership with P@SHA has been instrumental in the growth of Pakistan’s IT industry.

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