Digital payments to IT vendors abroad shortly

ISLAMABAD: Minister of State for Information Technology and Telecommunication Shaza Fatima Khwaja has announced that arrangements are underway to facilitate digital outward remittances for IT companies, saying the move will enable IT exporters to seamlessly pay international suppliers and vendors.
Speaking at HBL-P@SHA ICT Awards 2024 here on Monday, she said the awards empowered innovators, startups, and students to shine on international platforms, such as the Asia-Pacific ICT Alliance (APICTA) Awards.
She said that in order to facilitate IT companies to compete globally, arrangements were being made to make payments online to vendors abroad without involving the routine banking channels and seeking permission of State Bank of Pakistan for every transaction.

“It will be a complete paradigm shift of the whole society, economy and the government in the country,” the minister said, adding that the new scheme to provide smartphones to the youth will empower them in becoming self-employed and get into business and commerce activities.
Ms Khawaja underscored the importance of recognising and supporting IT companies to sustain growth and place Pakistan firmly on the global technology map. The event, hosted by Pakistan Software Houses Association (P@SHA), showcased not only the IT exports winners but students and educational institutions excelling in IT products.
The HBL-P@SHA ICT Awards 2024 honoured 33 Gold Award winners and 47 Merit Award recipients across several categories, including Consumer, Business Services, Inclusion & Community, and Student Innovation.
P@SHA had received over 1,198 applications this year for the awards, marking an overwhelming response.
Speaking on the occasion, P@SHA Chairman Muhammad Zohaib Khan said that the association was driving the country’s digital economy forward by creating thousands of jobs and advocating for more efficient and transparent government.
“Our efforts have directly contributed to the consistent rise in IT exports, which reached $3.22 billion this year,” Mr Khan said.
Abrar Ahmed Mir, Chief Innovation & Financial Inclusion Officer at HBL, speaking at the event said that the HBL’s partnership with P@SHA has been a catalyst for growth of Pakistan’s IT industry.
Published in Dawn, September 24th, 2024