Pakistan

PM Kakar gives go-ahead to ministry to bring PayPal, Starlink to Pakistan

Published

8 months ago

Farwa

“New IT policy to bring PayPal, Starlink to Pakistan”: Minister.
IT exports can reach $10 billion, $1 billion to be raised for startups, says Dr Saif.
Training programme for 200,000 IT professionals already commenced, PM told.

Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday, approved the Ministry of Information and Technology (IT) and Telecommunications’ plan for a new comprehensive policy aiming to bring PayPal, and Starlink to Pakistan.

In his meeting with the Caretaker Minister for IT and Telecom Dr Umar Saif, the premier appreciated the ministry for its comprehensive measures aimed at tapping the unlimited potential of the country’s IT sector.

The prime minister also issued directives to the Ministry of Finance, the State Bank of Pakistan, the Ministry of Trade and Commerce, the Federal Bureau of Revenue (FBR) and the Ministry of Energy to cooperate and collaborate with the Ministry of IT on this matter.

According to Dr Saif, the new IT policy aims to enhance the country’s digital exports via institutionalising dollar retention accounts and allowing an easy flow of money through IT corporate debit cards.

The govt plans to utilise venture capital to raise investments of up to $1 billion for various startups.

Accentuating the country’s potential for the IT sector, the minister said that Pakistan’s digital exports have the potential to reach the $10 billion mark if the hurdles are duly addressed and removed.

According to the minister, the new policy also aims to bring PayPal and Stripe — international online payment processing platforms — to Pakistan and establish co-working spaces for 500,000 freelancers to increase their potential to an additional $3 billion per annum.

To further improve the services sector, the ministry plans to introduce training programmes in line with international standards for the youth, Dr Saif said.

We have already commenced the programme for the training of 200,000 professionals who will contribute towards increasing Pakistan’s IT exports to up to $5 billion, the minister added.

The new policy also aims to ensure enhanced and efficient utilisation of the available spectrum via extensive reforms in this domain.

Furthermore, the ministry plans to introduce active spectrum sharing, forward-looking taxation policies, regulations and incentives for the telecom industry to prepare for the upcoming 5G auction within 10 months, said the interim minister.

Expressing his views on cell phone manufacturing in the country, Dr Saif said that Pakistan is the seventh largest market for cell phones in the world therefore, the ministry intends to incentivise local manufacturing and export of smartphones.

Business

Price of LPG “slashed” by Rs. 20 per kilogram

Published

17 hours ago

Farwa

Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

Business

ADB delegation stops by FBR headquarters

Published

17 hours ago

Farwa

Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.

Latest News

Off-duty police in Islamabad are prohibited from donning uniforms.

Published

17 hours ago

Farwa

The new directives, according to specifics, were sent via wireless by the federal capital police and state that no officer may wear a uniform when reporting for duty or leaving it.

According to the police official, uniforms will only be worn when on duty; otherwise, two policemen will accompany each other during duty hours and will always be required to carry guns.

A different development was the earlier release of an app by the Islamabad Police with the goal of improving crime prevention and public safety.

Launched on the orders of former Interior Minister Sarfraz Akbar Bugti, the recently released ICT-15 app aims to empower the people of the capital city by giving them the ability to actively engage in the battle against crime and protect their areas.

Residents of Islamabad can now easily download and utilize the ICT-15 app because it is easily accessible on the Google Play Store.

Citizens can report a variety of issues with this easy-to-use application, such as incidents, unlawful behavior, complaints against law enforcement, the presence of undocumented people, or any suspicious criminal activity.

The police promise quick reaction times as soon as information is reported using the app, so assistance will be provided as quickly as feasible.