KARACHI: Federal Minister for IT and Telecom Amin-ul-Haq 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 the 2nd PMFA Appreciation Awards Ceremony organized by Pakistan Malaysia Friendship Association (PMFA) and also talking with the media. Amin-ul-Haq, talking with the media, said that the government was striving to launch 5G technology in the country by 2022, adding that the ministry was also working on other digital payment solutions after the refusal of PayPal to come into Pakistan.
The federal minister said the government was interested to allow cryptocurrency trade in Pakistan and for this purpose, we were seeking assistance from the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR) to evolve a legal framework for securing cryptocurrency trade in the country.
Earlier, in his speech as chief guest, Amin-ul-Haq said that the IT and Telecom ministry took the COVID-19 pandemic as an opportunity that helped increasing IT exports by 44 percent to US$ 379 million during July-Sept 2020-21 as compared to US$ 264 million reported during the 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 which would lead the country’s growth in the coming months.
H.E. 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 the Pakistani Telecom sector and plan to expand their business, which will invest 250 Million Dollars in the next two years.
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He further said that Al-Haj Automobile has the project envisaged an investment of 40 Million Dollars. This project includes 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, Majid Aziz, Rehan Farooqi Director ECO, and others also present at the ceremony. The awards winners included Hilal Khan Afridi, CEO Proton Cars, Al-Haj Automobile, Gayan Pradeep Koralge, Group Director Strategy, Rasheed Jan Muhammad, CEO, MAPAK Edible oil, Mukhtar Hussain Dossani, Dossani Enterprises, Hasan Ahmed Jaffarani, Director Sunlight Wood Products, Hanif Chapri CEO Farooq Feeds and Allied Products, Noman Lakhani, Chancellor Ilma University, Arshad Islam, Patron-in-Chief PASPIDA, Nayar Zuberi, chief reporter Daily Business Recorder.
