HBL and P@SHA Collaborate to Establish Pakistan as a Technology Hub
Karachi: Dr. Umar Saif, the Caretaker Federal Minister for IT & Telecommunication, emphasized the immense potential within Pakistan’s IT sector. He highlighted the sector’s vital contribution to the nation’s economic stability and assured that the government is actively taking measures to ensure comprehensive support for the IT industry. Dr. Saif also stressed the importance of effectively branding and promoting Pakistan on the global stage. These remarks were made during his address at the signing ceremony for the strategic partnership between HBL and the Pakistan Software Houses Association (P@SHA), which took place at the HBL Tower in Karachi on a Thursday.
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Dr. Umar Saif further said, “I am delighted to be part of the event and hope that this collaboration will play a vital role and fostering the growth and development of the IT sector domestically and internationally.” Mentioning the role of the Special Investment Facilitation Council (SIFC), the IT Minister said that all required facilities are being provided to boost the IT & Telecom sector.
Dr. Saif highlighted the SIFC’s recent decision that IT companies have now been allowed to retain 50% of their revenue in US dollar accounts. These companies will also be provided with corporate debit cards by the banks, which can be freely used to make international payments. This step has been taken on the recommendation of the IT industry (P@SHA) aimed to encourage the Information Technology (IT) and IT-enabled Services (ITeS) to boost export earnings and bring additional foreign exchange into the country.
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HBL Partners with P@SHA for a Multi-Year Initiative to Enhance Local and Global IT Industry Engagements
It is worth mentioning here that HBL, Pakistan’s Best Bank, has entered a multi-year partnership with P@SHA, the country’s only IT industry association, to support them in launching a series of impactful engagements locally and globally. Through this collaboration, HBL aims to join forces with P@SHA in positioning Pakistan as a growing tech destination in the global market. The Bank’s extensive collaboration with IT and digital stakeholders has given it a deep understanding of the industry’s needs, enabling it to offer tailored financial and technological solutions.
Commenting on the initiative, Muhammad Aurangzeb, President & CEO – HBL, said, “We believe that the IT industry has the potential to be a major driver of economic growth and job creation in Pakistan. HBL’s collaboration with P@SHA is a testament to the Bank’s commitment to becoming a ‘Technology Company with a Banking License’. It will provide an opportunity for HBL to engage with key stakeholders in the IT, freelancer, software, and gaming industry and showcase its innovative financial solutions and services that can meet the specific needs of the IT sector.”
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Speaking at the occasion, Muhammad Zohaib Khan, Chairman – P@SHA, said: “With HBL by our side, P@SHA is ready to embark on a transformative journey for Pakistan’s tech landscape. This strategic partnership will propel us toward realizing our vision of making Pakistan a hub for technology excellence. Together, we will open new doors of opportunity, innovation, and global recognition for our IT industry.”
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