The government will soon launch a new digital payment system

The Pakistan government is taking steps to facilitate digital remittances for IT companies, according to Minister of State for IT and Telecom Shaza Fatima Khwaja. The move will enable IT exporters to easily pay international suppliers without using conventional banking channels or seeking approval from the State Bank of Pakistan for each transaction.

“It will be a complete paradigm shift for the entire society, economy and governance in the country,” Khwaja said at the HBL-P@SHA ICT Awards 2024 ceremony. She explained that these changes are aimed at increasing the global competitiveness of Pakistani IT companies.

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

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

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

HBL’s Chief Innovation and Financial Integration Officer, Abrar Ahmed Mir, said the bank’s partnership with P@SHA has played a key role in the development of Pakistan’s IT industry.