Business

Pakistanis wait anxiously as Google apps’ old payment system not yet restored

Published

2 years ago

Farwa

Google yet to restore downloading of purchased apps for Pakistan customers.
Old payment system to take five to 10 days to get restored, says govt official.
Credit/debit card payments available in the meanwhile.

ISLAMABAD: Google has not yet reinstated the downloading of purchased applications through mobile operators in Pakistan. However, paid applications can be bought through credit or debit card payment.

The direct carrier billing (DCB) mechanism for downloading Google-purchased applications via mobile phones for one month has not been restored despite the government’s instructions to the State Bank of Pakistan (SBP), The News reported.

The system will get restored within five to 10 days as payments that are stuck will be made through designated bank and it takes a while to process, the publication reported.

A government official said Minister for Information Technology and Telecom Syed Aminul Haque was supposed to contact SAPM on Finance Tariq Bajwa on Friday and request him to expedite the process of restoring the DCB mechanism as soon as possible because customers have been “anxiously awaiting the restoration of the old payment system”.

Some customers contacted this scribe and showed messages received by them stating in the instructions to add credit or debit card information for downloading Google-purchased applications.

The government official said that they expect the old payment system to be restored within a seven to 10-day period. He added that Google had already announced that the purchased application could be downloaded through a credit/debit card from Dec 1, 2022, so the decision was implemented for Pakistani customers.

The government will now have to implement its orders for restoring the DCB payment, allowing mobile operators to pay for downloading purchased apps with the amount from balances on their mobile phones.

Business

Pakistan suffers a loss of millions due to inoperable airports.

Published

21 hours ago

Farwa

The Pakistani economy is strengthening and trending in the right direction, according to Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb on Thursday.

Speaking at the Pakistan Saudi Arabia Business Forum, Aurangzeb stated that the goal of the government was to support the private sector rather than engage in commerce. His goal was to encourage business-to-business (B2B) trade and investment, thus he welcomed the delegation from Saudi Arabia.

Within the last 12 to 14 months, the minister saw a considerable improvement in macroeconomic stability. With the help of foreign exchange reserves sufficient to cover two months’ worth of imports, Pakistan steadied its currency, decreased its current account deficit to less than $1 billion, and produced a primary surplus.

Strong remittances, expanding exports, and a drop in inflation from 38% to 6.9% have all contributed to the consolidation of these benefits, according to Muhammad Aurangzeb. Companies have also profited from the insurance rate reduction.

Even if Pakistan’s credit rating has improved, more work needs to be done to bring it up to at least a B-. Both on the debt and equity sectors, he claimed, institutional flows were returning to the nation.

As the International Monetary Fund (IMF) board approved an extended program for the nation, the Islamabad Stock Exchange set a record high.

He stated that the IMF program will implement structural reforms in addition to ensuring macroeconomic stability for the long run.

The government of Pakistan remains committed to structural changes, sustainable growth, and tax reform, as stated by Muhammad Aurangzeb.

Business

Pakistan’s economy is getting better, according to Muhammad Aurangzeb

Published

21 hours ago

Farwa

The Pakistani economy is strengthening and trending in the right direction, according to Federal Minister of Finance and Revenue Senator Muhammad Aurangzeb on Thursday.

thus,Speaking at the Pakistan Saudi Arabia Business Forum, Aurangzeb stated that the goal of the government was to support the private sector rather than engage in commerce. His goal was to encourage business-to-business (B2B) trade and investment, thus he welcomed the delegation from Saudi Arabia.

As the International Monetary Fund (IMF) board approved an extended program for the nation, the Islamabad Stock Exchange set a record high.

He stated that the IMF program will implement structural reforms in addition to ensuring macroeconomic stability for the long run.

The government of Pakistan remains committed to structural changes, sustainable growth, and tax reform, as stated by Muhammad Aurangzeb.

Business

Remittances from Workers

Published

2 days ago

Farwa

In September of this year, the State Bank of Pakistan reported that remittances from overseas Pakistanis amounted to 2.8 billion dollars, reflecting a 29% increase compared to the remittances received in September of the previous year.

The SBP reports that, with a cumulative inflow of 8.8 billion US dollars in the first quarter of the financial year, workers’ remittances increased by 38.8 percent compared to the first quarter of the previous year.

Remittance inflows in September 2024 were primarily derived from Saudi Arabia at $681.3 million, the United Arab Emirates at $560.3 million, the United Kingdom at $423.6 million, and the United States of America at $274.9 million.