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.
Wonderful to meet the team of Karandaz which has worked over the past several years with the State Bank to introduce Pakistan’s micro-payment gateway RAAST.
Discussed ways to accelerate the roadmap towards a digitised, cashless economy. Very soon, we will come up with a plan to… pic.twitter.com/EorLXmccop
— Umar Saif (@umarsaif) September 13, 2023
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.
نگراں وفاقی وزیر آئی ٹی و ٹیلی کمیونیکیشن ڈاکٹر عمر سیف سے پی ٹی سی ایل گروپ کے صدر و سی ای او حاتم محمد بامطرف نے بدھ کو ان کے دفتر میں ملاقات کی۔
ملاقات میں فائیو جی اسپیکٹرم آکشن اور ٹیلی کام سروسز کی فراہمی پر تفصیلی گفتگو ہوئی۔ pic.twitter.com/374dF5OTw2
— Ministry of IT & Telecom (@MoitOfficial) September 13, 2023
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.