Plan to launch 5G technology by Dec 2022: minister

KARACHI: The government is planning to launch 5G technology in the country by December 2022.

This was stated by Amin-ul-Haq, Federal Minister for IT and Telecom while talking to the Daily Business Recorder after the conclusion of 2nd PMFA Appreciation Awards Ceremony organized by Pakistan Malaysia Friendship Association (PMFA) held at a local hotel the other day. He said the government was striving to launch 5G technology in the country by December 2022, adding that the ministry was also working on other digital payment solutions after the refusal of Paypal to come into Pakistan.

To another question, federal minister said the government was interested to allow cryptocurrency trade in Pakistan and for the purpose, we were seeking assistance from State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) to evolve legal framework for securing cryptocurrency trade in the country.

Earlier, Amin-ul-Haq during his speech as chief guest said that IT and Telecom ministry took COVID-19 pandemic as an opportunity that helped increasing IT exports by 44 percent to US$ 379 million during July-Sept 2020-21 as compared to US$ 264 million reported during preceding period of last financial year.

He also announced not to impose a ban on any app including 'TikTok' and added that key economic indicators including Current Account deficit, remittances, foreign reserves, etc were now improving that would lead the country's growth in coming months.

Khairul Nazran Abd Rahman Consul General of Malaysia in Karachi appreciated the contribution of both business communities - Pakistan and Malaysia for bilateral trade and lauded the efforts of PMFA for providing its platform for promoting business activities. He said that the Free Trade Agreement (FTA) between Pakistan and Malaysia would provide a win-win situation for both countries.

Malaysian Consul General said that at present, Malaysia's major export to Pakistan was palm oil hence they were contemplating other potential export oriented sectors including auto, textile, food and vegetables.

In his welcome address, Shahid Javed Qureshi President PMFA said the association always supports bilateral trade between two countries and the award distribution ceremony was aimed at appreciating the efforts of both business communities.

Senator Haseeb Khan, Rehan Farooqi Director ECO and others also spoke on the occasion. Al Hajj, which has collaborated Malaysian auto giant Proton, PaTex, E.Co, Sunlight wood, etc were given 2nd PMFA Appreciation Awards. The PMFA also acknowledged the services of Nayar Zuberi, chief reporter Daily Business Recorder and honoured him with its appreciation award. A large number of businessmen were present on the occasion.

Copyright Business Recorder, 2020