Qudsia Bano

In a landmark move set to redefine Pakistan's digital landscape, the government has announced a strategic collaboration with Huawei to revolutionize tax digitalization and enhance the country's economic growth. This cooperation is expected to play a pivotal role in transforming Pakistan into a digital economy, fostering innovation, and promoting sustainable development, reports WealthPK. During a recent meeting at the Finance Division, Huawei Pakistan's Chief Executive Officer Sun Xiaofei, and his senior management team briefed Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on their various digital and ICT initiatives. Mr. Xiaofei highlighted Huawei's significant contributions to the ICT industry in Pakistan over the past 25 years and underscored the country's potential to become a leading IT hub. A key focus of the discussions was Huawei's Pakistan Global Service Centre (GSC), which provides services to Huawei's partners across the Middle East, Central Asia, and Africa.

The delegation proposed several areas of cooperation, including tax digitalization, e-invoicing, revenue automation, and IT applications. These initiatives aim to evolve Pakistan's digital ecosystem and drive sustainable economic growth. Experts have hailed this cooperation as a game-changer for Pakistan's digital economy. Syed Junaid Imam, Member IT at the Ministry of Information Technology and Telecommunication (MoITT), remarked, "This collaboration between the government and Huawei marks a significant step towards modernizing Pakistan's tax system. By leveraging advanced technologies like e-invoicing and revenue automation, we can enhance efficiency, reduce tax evasion, and improve revenue collection. This partnership will not only streamline tax processes but also contribute to a broader economic growth by fostering a more transparent and accountable system."

"E-invoicing and revenue automation are anticipated to simplify transactions, making it easier for businesses to operate and comply with tax regulations," said Junaid. Talking to WealthPK, Asfand Yar Khan, DG IT at MoITT, said by integrating advanced digital technologies into the tax system, we can expect increased efficiency, transparency, and revenue generation. The move towards tax digitalization will not only simplify compliance for businesses but also enhance the government's ability to track and manage fiscal resources more effectively. The involvement of a tech giant like Huawei brings invaluable expertise and experience, which will be instrumental in successfully executing these initiatives. He emphasized the potential for quick wins by utilising available data and highlighted the government's commitment to promoting a digital economy in Pakistan.

Credit: INP-WealthPk