logo
Scope of digital wallets to be expanded: PM

Scope of digital wallets to be expanded: PM

Express Tribune28-04-2025

Prime Minister Shehbaz Sharif on Monday announced that the scope of digital wallets would be expanded across the country, with provinces being integrated into the digital payment system through a coordinated framework.
The prime minister, addressing a ceremony to recognize individuals for their outstanding performance in the success of the Prime Minister's Ramazan Relief Package, said that modern payment methods enabled the smooth transfer of funds. These payments were made transparently, while maintaining the dignity of deserving individuals.
He highlighted that funds were transferred efficiently and transparently through digital wallets, adding that 79% of the funds were disbursed digitally under the programme.
The PM noted that the old payment system had many flaws, which were rectified by the modern system, PM Office Media Wing said in a statement.
He further stated that positive results had emerged from the steps taken to modernize the system and hinted that the scope of digital wallets would be expanded nationwide, with provinces also being included in the digital payment system through an integrated framework.
Looking ahead, the PM emphasized that next year,100% of funds would be utilized through digital methods.
During the ceremony, Secretary Benazir Income Support Programme Amir Ahmed Ali gave a detailed briefing on the PM Ramazan Relief Package and digital wallets.
Separately, the prime minister said the government of Pakistan remained committed to strengthening frameworks that protect workers' rights and safety.
In a message on the occasion of World Day for Safety and Health at Work observed on April 28, he said, "Today, as we mark the World Day for Safety and Health at Work, Pakistan joins the international community in reaffirming our commitment to the prevention of occupational accidents and diseases, and to promoting the well-being of every worker across all sectors."
"This year's theme, 'Revolutionizing Health and Safety: The Role of AI and Digitalization at Work', invites us to reflect on the opportunities and responsibilities brought forth by technological advancement," he added.
The prime minister said, "As workplaces across the globe, including in Pakistan, embrace digital systems, it becomes imperative to ensure that these innovations serve to enhance the safety, health, and dignity of our workers."
Meanwhile, the premier met with Project Director of the Higher Education Commission (HEC), Saima Naureen and appreciated her high performance in supervising the programme of modern training in the field of agriculture for Pakistani students in China.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Chinese defence stocks surge as Pakistan buys J-35 stealth jets
Chinese defence stocks surge as Pakistan buys J-35 stealth jets

Express Tribune

time12 hours ago

  • Express Tribune

Chinese defence stocks surge as Pakistan buys J-35 stealth jets

Listen to article Shares of Chinese defence firms jumped Monday after reports of Pakistan's plans to purchase advanced J-35 stealth fighter jets from China, according to a Bloomberg report. AVIC Shenyang Aircraft Co., the J-35's manufacturer, hit its 10% daily limit in Shanghai trading, extending gains for a third straight session. Aerospace Nanhu Electronic Information Technology Co. also saw a surge, rising as much as 15%. The rally followed a formal statement on social media from Pakistan confirming its intent to acquire the jets, after weeks of unofficial reports. Pakistani officials had earlier indicated that pilots were already in China undergoing training ahead of expected deliveries. J-35 fighter jet offers stealth, long-range, and deep-strike capabilities China's J-35A fifth-generation fighter jet, soon to be delivered to Pakistan, features stealth technology, advanced sensors, and deep-strike capabilities that could significantly boost Pakistan's air power, according to defence analyst Brandon J. Weichert. Developed by Shenyang Aircraft Corporation, the J-35A is China's second fifth-gen aircraft after the Chengdu J-20. It is equipped with an active electronically scanned array (AESA) radar, electro-optical targeting systems, and advanced avionics to enhance situational awareness and targeting precision. Designed to evade detection, the aircraft's stealth profile reduces its radar cross-section. It is compatible with long-range PL-15 and PL-17 air-to-air missiles, offering a major advantage in beyond-visual-range combat. Powered by Russian RD-93 or Chinese WS-19 turbofan engines, the J-35A can reach speeds of up to 1,367 mph. Deliveries to Pakistan could begin by August, with pilots already undergoing training in China. The jet is expected to replace Pakistan's aging fleet of F-16s and Mirages. Weichert notes that the J-35A's capabilities will enable Pakistan to better counter Indian air defences and conduct deep-strike missions, potentially shifting the regional aerial balance.

Govt to release Pakistan Economic Survey 2024–25 today
Govt to release Pakistan Economic Survey 2024–25 today

Express Tribune

time12 hours ago

  • Express Tribune

Govt to release Pakistan Economic Survey 2024–25 today

Listen to article Pakistan will unveil its Economic Survey 2024–25 on Monday (today), a key pre-budget document assessing the country's economic performance and policy priorities. The survey will be presented by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, according to a statement by the Ministry of Finance. Serving as an annual stocktake, the Economic Survey outlines achievements, challenges, and key trends in the outgoing fiscal year across major sectors including agriculture, manufacturing, services, energy, information technology, health, education, and infrastructure. READ MORE: ADB approves $800m financial package for Pakistan It will also feature updates on inflation, employment, trade, balance of payments, public debt, and climate change impacts, offering a comprehensive view of macroeconomic indicators to inform public debate and policymaking. The document highlights that the GDP growth for 2024–25 has been recorded at 2.7%, with a target of 4.2% set for the upcoming fiscal year. The survey also points to a 30.9% rise in remittances between July 2024 and April 2025, and notes that the current account remained in surplus during this period. Fiscal performance showed marked improvement. The fiscal deficit declined to 2.6% of GDP, while the primary balance recorded a surplus of 3%, reflecting tighter fiscal discipline. Policy interest rates were reduced to 11% amid signs of economic stabilisation and improving fundamentals. Private sector credit expanded, with loans worth Rs681 billion disbursed between July 2024 and May 2025. The Annual National Development Programme (ANDP) for 2024–25 received a total allocation of Rs3,483 billion. Of this, Rs1,100 billion was earmarked for federal projects, and Rs2,383 billion for provincial initiatives. The National Economic Council (NEC) acknowledged signs of recovery, attributing improvements to coordinated federal and provincial efforts. It credited the agriculture sector for its strong contribution to reserves and growth, adding that a comprehensive strategy is being prepared to boost long-term agricultural productivity. The survey is expected to lay the groundwork for the federal budget and shape Pakistan's future economic roadmap. READ MORE: Budget delayed by a week The federal government is set to unveil its fiscal year 2025–26 budget on June 10 evening after securing approval from the federal cabinet in a special session chaired by Prime Minister Shehbaz Sharif. The budget, finalised in consultation with the International Monetary Fund (IMF), is expected to range between Rs17.5 trillion and Rs18 trillion. The document will be presented in Parliament following cabinet approval. Budget schedule approved Speaker of the National Assembly, Sardar Ayaz Sadiq, has approved the schedule for the upcoming National Assembly sessions. The Federal Budget 2025–26 will be presented on June 10. The House will observe recess on June 11 and 12, with the general debate on the budget beginning June 13. The discussion will continue until June 21, and all parliamentary parties will be allocated time to contribute in accordance with Assembly rules and procedures. Key measures include proposed increases in public sector salaries and pensions. Three options are under consideration: a 10% raise aligned with inflation, a 30% disparity allowance for grades 1 to 16, and tax relief on government salaries. The budget sets the Federal Board of Revenue's (FBR) tax collection target at Rs14.3 trillion, including Rs6.47 trillion in direct taxes, Rs4.94 trillion from sales tax, Rs1.74 trillion from customs duties, and Rs1.15 trillion from federal excise duties. Non-tax revenue is estimated at Rs2.58 trillion. Debt servicing remains the largest expenditure, with Rs8.68 trillion allocated, followed by Rs2.41 trillion for defence. Federal development spending is projected at Rs1.06 trillion under the Public Sector Development Programme (PSDP). In a push for industrial growth, duties may be reduced on over 7,000 tariff lines, primarily affecting raw materials and capital goods. The government is also expected to remove the additional 2% customs duty on 4,294 tariff lines. The upcoming budget may include a scheme to provide energy-efficient ceiling fans on instalments via electricity bills, aimed at curbing power consumption. These fans would be offered interest-free, with payments spread out through utility bills. READ MORE: UN projects Pakistan economy to grow by 2.3% President urges efforts to strengthen economy Meanwhile, President Asif Ali Zardari on Monday, while highlighting the country's vast potential for development, called for unified and determined efforts to build a robust and self-reliant national economy. In a meeting with Pakistan Peoples Party leaders and workers at Aiwan-e-Sadr on the occasion of Eid ul-Azha, the president extended Eid greetings and praised party workers as the backbone of the party, commending their unwavering commitment during testing times. He urged them to stay devoted to the nation and play a proactive role in its development. Emphasising agriculture as the cornerstone of the national economy, the president called for prioritising its growth and supporting farmers to strengthen the economic base. Commenting on regional issues, President Zardari expressed concern over rising extremism in India. He noted that minorities, particularly Muslims and Christians, were facing increasing discrimination and suppression under the extremist Hindutva ideology, which he warned posed a threat to the entire region. He also reaffirmed the historical, religious, and cultural legacy of Muslims in the subcontinent.

US fund commits $10m to Pakistani startups
US fund commits $10m to Pakistani startups

Express Tribune

time3 days ago

  • Express Tribune

US fund commits $10m to Pakistani startups

Listen to article A US tech fund has committed $10 million to two Pakistani IT entrepreneurs and IT experts have praised this move as it looks promising for the future. Tech analyst and expert Muhammad Yasir said that Pakistani IT firms are penetrating different traditional and non-traditional markets with their innovative products and services, which is a positive sign. Attracting investments from US-based companies will not only boost business growth and expansion of Pakistani IT companies but it will also improve the image of the country in the relevant sector, opening doors for other companies in high-end markets such as the US and EU. Pakistani IT companies need to reach more similar investors and venture capitalists in major traditional markets like the US, EU and non-traditional markets like the UAE and Saudi Arabia to expedite the overall growth of Pakistani IT exports and expansion. JR Dallas Tech Fund, the premier private investment arm of JR Dallas Wealth Management, announced a groundbreaking $10 million commitment to globally recognised technology leaders Mehwish Salman Ali and Malik Mudassir to spearhead an exclusive US-focused startup investment initiative. Under this landmark agreement, Mehwish Salman Ali and Malik Mudassir will receive $10 million in dedicated capital to identify, evaluate, and invest in high-potential startups planning to scale operations in the US. The duo will serve as lead investment partners with full authority to deploy capital across artificial intelligence, cloud computing, digital health, and frontier technology ventures. "We are entrusting $10 million to two of the most visionary technology leaders of our generation," said Jehangir A Raja, Managing Partner at JR Dallas Tech Fund. "Mehwish and Malik represent the perfect combination of technical expertise, entrepreneurial success, and strategic vision needed to identify the next generation of game-changing startups ready to conquer the American market." This $10 million commitment specifically targets startups with proven capabilities seeking to establish or expand operations within the US, creating a direct pathway for international innovation to contribute to American economic growth. The investment is likely to generate positive economic impacts as these companies are expected to generate 300-500 high-skilled technology positions within 24 months. Portfolio companies are projected to contribute $50-100 million in US economic activity within three years and accelerate breakthrough technologies in AI, healthcare, and cloud infrastructure. Mehwish Salman Ali brings unparalleled expertise as Founder & CEO of Data Vault, Pakistan's first solar-powered and quantum-encrypted AI data centre, Co-Founder of Zahanat AI, the country's first indigenous GPT model, and COO of AppsGenii Technologies. Malik Mudassir commands respect as Founder & CEO of AppsGenii Technologies, operating across the US, UK, and Pakistan, and Co-Founder of multiple successful ventures including GharPar, BoxesGen, and Dental Connect. The $10 million fund operates under a rigorous investment framework designed to maximise both financial returns and economic impact: "Receiving this $10 million commitment from JR Dallas Tech Fund represents more than capital; it's a mandate to bridge the gap between global innovation and American market opportunity," said Mehwish Salman Ali. "We are committed to identifying startups that not only promise exceptional returns but also contribute meaningfully to US technological leadership." Malik Mudassir added, "This $10 million investment enables us to support visionary entrepreneurs who understand that scaling in America requires more than great technology it demands deep market insight, operational excellence, and strategic partnership. We're here to provide all three."

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store