SBP, Karandaaz to Jointly Promote Digital Payment System in Pakistan: IT Ministry

The Ministry of Information Technology and Telecommunication (MoITT) Wednesday said that the State Bank of Pakistan (SBP) and Karandaaz, a not-for-profit special purpose vehicle, will jointly promote a digital payment system in Pakistan.

The development came during a meeting between Karandaaz CEO Waqas ul Hasan and Caretaker Federal Minister for IT Dr Umar Saif at the MoITT.

The caretaker minister said that Karandaaz and SBP have jointly installed the Raast system in Pakistan which is being used by around 30 million people. Together with Karandaaz and SBP, they are taking Pakistan towards a digitized economy where everyone will be able to make digital payments easily, he added.

Dr Saif said that instead of cash, a digital payment system will be introduced in the economy and people will be able to make digital payments for purchases. He said that the country is being taken towards a digital economy, and the IT ministry is taking steps in this regard.

President and CEO of PTCL Group Hatem Bamatraf also met the IT minister today. During the meeting, there was a detailed discussion on the 5G spectrum auction and provision of telecom services.

Talking to Bamtaraf, the minister said that steps are being taken to provide better telecom services in the country. He claimed that the 5G auction is going to be held in the next few months.

  • Many people dont know that Dr Umar Saif is a son of a Senior Army Officer. That is why he is trusted so much by the regime. He is a man of Establishment as he is belong from a Military family.

    • His abilities and contribution via PITB are beyond reproach be those in land digitization, public health monitoring, start up support or education. Let the man work, please rise above the label placement and let competent people perform.

    • I did not know that. It will be interesting for a journalist at ProPakistani to do some research and prepare a list of all those heading the various Ministries and departments in Pakistan either having the background of (current or former) as well as connections with the establishment.

  • Look at the posh offices they sit in, the offices not even the President of USA or the Prime Minister of Britain can dream of. They discuss and make policies in ivory towers, totally isolated from the realities of life. This Minister who is there temporarily to oversee day to day routine work is daydreaming and making a fool of the people. No doubt he has the backing of …………

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