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ICT-mobiles, financial sector to boost Pak banking

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Information and communication technology (ICT) and mobile phones, the fastest growing business, joined by Pakistan’s fairly robust banking sector are now busy in their endeavour to conquer the economy.

The ICT-mobile telephony and the financial sector have decided to expand banking to benefit a larger number of customers. One of the key elements of these efforts is the Financial Inclusions Plan (FIP).

But the sector’s expansion and its help to the banking sector need several steps which should be undertaken by the government and the relevant sectors.

“In order to draw more investment into Pakistan, the government will have to introduce the right kind of incentives on top of matching them with a reasonable taxation regime,” says Mark MacGann, group chief, external affairs at Veon Group which was previously known as VimpelCom Ltd.

MacGann and other key leaders of the global ICT industry had gathered at Karachi at a summit to finalise plans for expanding the IT industry and investment into this sector.

For more on this story visit the following link: ICT-mobiles, financial sector to boost Pak banking

Source: Khaleej Times

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