Government of Pakistan announces launch of 5G technology ready to allow cryptocurrency(bitcoin,Ethereum etc)business. Federal Minister for IT, Telecom Syed Amin-ul-Haq has said that the government is working to introduce 5G technology and cryptocurrency in Pakistan by December 2022. And work in this regard is in full swing. Is also ready to allow and for this purpose is seeking legal assistance from the State Bank of Pakistan and the Federal Board of Revenue (FBR) to secure the cryptocurrency (bitcoins)trade in the country. PayPal Services in Pakistan Work on other digital payment solutions after denial are doing. He said this while addressing the second “Reception Awards 2020” of Pakistan-Malaysia Friendship Association (PMFA) and talking to the media. Consul General of Malaysia Khairul Nazran Abdul Rehman, President Pakistan-Malaysia Friendship Association Shahid Javed Qureshi, Senator Haseeb Khan, Majeed Aziz and others were also present on the occasion.
He said that Telecom took the Corona epidemic as an opportunity to increase IT exports by 44% to 379 million dollars during the first quarter of fiscal year 2020-21 (July-September), contrasted with the primary quarter of the past monetary year. Pakistan’s IT sends out during the quarter remained at 264 million dollars. He opposed the ban on any social media app in Pakistan, including Tik Tok, and said that economic indicators, including current accounts, remittances and foreign exchange reserves, should be improved. The country’s economic outlook will improve in the days to come.
On the occasion, Malaysian Consul General in Karachi Khairul Nazran Abdul Rehman said that the free trade agreement between Pakistan and Malaysia could open new avenues of development and employment opportunities for trade between the two countries. At present, trade between Pakistan and Malaysia is largely limited to palm oil, but bilateral trade is being considered in other potential areas of export, including textiles, auto, food and vegetables. He noted the cooperation between Pakistan and Malaysia in bilateral trade. He lauded the efforts of the PMFA and its efforts to provide a platform to promote business activities.
He said that the Free Trade Agreement (FTA) between Pakistan and Malaysia was a win situation for both the countries. In his welcome address, Shahid Javed Qureshi, President, Pakistan-Malaysia Friendship Association, said that the association always supports bilateral trade between the two countries and the award ceremony was aimed at highlighting the efforts of Pakistan and Malaysia business community. He said that e.co has invested 130 million dollars in Pakistan’s telecom sector and plans to invest 250 million dollars in the next two years to expand its business. He said that Alhaj Automobile has invested 40 million dollars has planned the project, which includes an art assembly plant network of dealers across the country and home-made activities.
Alhaj plans to launch the Saga 1300cc sedan car and X70 SUV from December. Recipients include Hilal Khan Afridi, CEO Proton Cars, Alhaj Automobile, Gyan Pradeep Koralji, Group Director Strategy, Rasheed Jan Mohammad, CEO MEPAC Edible Oil, Mukhtar Hussain Dosani, Dosani Enterprises, Hassan Ahmad Jafrani, Director Sunlight Wood Products, Hanif Chapri, CEO Farooq Fed & Allied Products, Noman Lakhani, Chancellor Alma University, Irshad Islam, Patron General Paspeda, Nayyar Zubair, Chief Reporter Daily Business Recorder.