Ministry also working on other digital payment solutions and other technology after the refusal of PayPal to come into Pakistan,
KARACHI: Amin-ul-Haq, Federal, Minister for IT and Telecom has said that the government is planning to launch 5G technology in the country by December 2022.
He was speaking as a chief guest at 2nd PMFA Appreciation Awards Ceremony organized by Pakistan Malaysia Friendship Association (PMFA) and also talking with media
Amin-ul-Haq, talking with media, said that the government was striving to launch 5G technology in the country by December 2022, adding that the ministry was also working on other digital payment solutions after the refusal of PayPal to come into Pakistan.
Federal minister said the government was interested to allow crypto-currency trade in Pakistan and for the purpose, we were seeking assistance from State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) to evolve legal framework for securing crypto-currency trade in the country.
Earlier, his speech as chief guest, Amin-ul-Haq said that IT and Telecom ministry took COVID-19 pandemic as an opportunity that helped increasing IT exports by 44 percent to $379 million during July-Sept 2020-21 as compared to $264 million reported during preceding period of last financial year.
He also announced not to impose a ban on any app including ‘TikTok’ and added that key economic indicators including Current Account deficit, remittances, foreign reserves, etc. were now improving that would lead the country’s growth in coming months.
Khairul Nazran ABD Rahman, Consul General of Malaysia in Karachi appreciated the contribution of business communities of Pakistan and Malaysia for bilateral trade and lauded the efforts of PMFA for providing its platform for promoting business activities. He said that the Free Trade Agreement (FTA) between Pakistan and Malaysia would provide a win-win situation for both countries.
Malaysian Consul General said that at present, Malaysia’s major export to Pakistan was palm oil hence they were contemplating other potential export oriented sectors including auto, textile, food and vegetables.
In his welcome address, Shahid Javed Qureshi President PMFA said the association always supports bilateral trade between two countries and the award distribution ceremony was aimed at appreciating the efforts of both business communities. He told EDOTCO invested 130 Million Dollars in Pakistani Telecom sector and plan to expand their business, will invest 250 Million Dollars in next two years.
He further said that Al –Haj Automobile have the project envisaged an investment of $40 million. This project, which includes of the art assembly plant nationwide dealers’ network and indigenization activities, Al –Haj plans to launch SAGA 1300cc Sedan car and X70 Suv from December.
Senator Haseeb Khan, Majyd Aziz, Rehan Farooqi Director ECO and others also present in the ceremony.