Caretaker Federal Minister for IT & Telecommunication, Dr. Umar Saif, emphasized the growing potential of Pakistan’s IT sector. He said the industry plays a crucial role in stabilizing the country’s economy. He added that the government is taking active steps to provide all possible facilities to IT companies. Dr. Saif highlighted the importance of promoting Brand Pakistan and marketing it globally.
Strategic Partnership Between HBL and P@SHA
Dr. Saif spoke at the Memorandum of Understanding (MoU) signing ceremony for a strategic partnership between HBL and the Pakistan Software Houses Association (P@SHA) in Karachi on Thursday. He said, “I am delighted to participate in this event and hope this collaboration fosters growth and development of the IT sector both domestically and internationally.”
HBL has entered a multi-year partnership with P@SHA, Pakistan’s primary IT industry association. Through this collaboration, the bank aims to support P@SHA in positioning Pakistan as a growing tech destination globally. HBL’s strong ties with industry stakeholders allow it to provide tailored financial solutions to IT companies.
Government Support and SIFC Initiatives
Dr. Saif highlighted the role of the Special Investment Facilitation Council (SIFC). He explained that IT companies can now retain 50% of their revenue in US dollar accounts. Banks will provide these companies with corporate debit cards to make international payments freely. This step encourages IT and IT-enabled services (ITeS) to boost export earnings and bring foreign exchange into Pakistan.
Industry Leaders Speak
Muhammad Aurangzeb, President & CEO of HBL, said, “The IT sector has the potential to drive economic growth and create jobs. This partnership shows our commitment to supporting freelancers, software, and gaming industries with innovative financial solutions.”
Muhammad Zohaib Khan, Chairman of P@SHA, added, “With HBL’s support, P@SHA will transform Pakistan’s tech landscape. This partnership will unlock new opportunities and global recognition for our IT industry.”
