Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The State Bank of Pakistan’s Q3 FY 2023-24 report shows digital transactions comprising 83% of total retail payments, with 844 million transactions worth PKR 128,470 billion processed by banks and EMIs. Mobile and internet banking saw significant growth, and Raast processed 140 million transactions worth PKR 3,437 billion, highlighting rapid digital adoption.
The FAO launched the Digital Agriculture Consortium (DAC) in Islamabad, aiming to transform Pakistan’s agriculture through digital means. The event showcased advanced technologies and discussed strategies to enhance productivity and efficiency. The DAC will integrate key stakeholders to drive the digital transformation of agriculture, fostering collaboration and sustainable development across Pakistan.
Veon subsidiary Jazz has secured a PKR75 billion (US$270 million) loan to expand its infrastructure and transition from a telecom company to a technology services provider. The credit facility, led by The Bank of Punjab, is the largest long-term private sector syndicated credit facility in Pakistan, enabling Jazz to enhance digital infrastructure and invest in cloud, software, and financial services.
Fleet Space Technologies is enhancing Barrick Gold’s copper exploration at Reko Diq in Pakistan with its ExoSphere solution. Utilizing satellite networks, AI, and 3D mapping, ExoSphere provides real-time 3D subsurface maps and AI-powered drill targeting, enabling sustainable, efficient, and precise exploration activities with minimal environmental impact.
NRTC, Allied, and Tech Valley plan to establish a Google Chromebook assembly line in Haripur, Pakistan. This joint venture aims to provide affordable, high-quality Chromebooks to students, supporting equitable education and technological advancement. The initiative aligns with government priorities and promises economic and educational benefits for Pakistan.
Pakistan’s IT sector has grown significantly, with 20,000 registered companies and $2.283 billion in exports. The federal government proposed a 357% budget increase for 2024-25, allocating funds for new projects, digital economy initiatives, and IT parks in Islamabad and Karachi, reflecting the sector’s expanding role in the economy.
The Economic Survey of Pakistan 2024 reveals significant growth in the IT and telecom sectors, driven by the China-Pakistan digital corridor. Investments in digital infrastructure, AI, and 5G networks are expected to boost startups, create jobs, and position Pakistan as a regional technology hub.
Pakistan has successfully launched its second communication satellite, PAKSAT MM1, from China’s Xichang Satellite Launch Centre to enhance the country’s…
SUPARCO is launching the PakSat MM1 satellite today with Chinese support, enhancing Pakistan’s communication infrastructure and digital connectivity. This marks a significant step towards a digitally connected Pakistan, following the historic iCube-Q lunar mission. The new satellite will provide various communication services and support socio-economic development.
Pakistan is launching the MM1 communication satellite on May 30 to enhance its communication infrastructure. The satellite will address the increasing demand for high-speed internet and connectivity. This follows the successful ICUBE-Q lunar mission, highlighting the crucial role of satellites in disaster management, environmental monitoring, and technological advancement.