HomeNewsPakistan's IT Minister Announces Interest-Free Installment Plans for Smartphone Purchases

Pakistan’s IT Minister Announces Interest-Free Installment Plans for Smartphone Purchases

Pakistan’s IT Minister Announces Interest-Free Installment Plans for Smartphone Purchases. Today in Islamabad, a new “cellphones for all” program was presented. The objective of this program is to make smartphones accessible to people from all different types of socioeconomic backgrounds.

Since Syed Amin Ul Haque is the Federal Minister of Information Technology and Telecommunications, he has made it much easier and more accessible for all individuals to acquire technology by introducing an interest-free installment program to purchase smartphones. This program allows individuals to pay for their smartphones over time without incurring additional costs. This program is a component of a larger initiative that aims to make the process of acquiring new technology significantly less complicated.

The initiative to provide “smartphones for everyone” was only introduced today in Islamabad as part of a just-established program. The launch happened only a little while ago. The “smartphones for everyone” initiative will make it feasible for those with modest earnings to purchase phones through interest-free installment plans. This will make it possible for individuals from lower socioeconomic levels in Pakistan to become digitally literate.

This program was developed through a collaborative effort between the Global System for Mobile Communications Association (GSMA) and Qisstpay, which is widely regarded as one of Pakistan’s most innovative and rapidly expanding installment payment businesses. Together, they worked on the development of this program.

At the most recent gathering, one of the presenters was Julian Gorman, the Head of Asia Pacific for the GSMA. The other individual who spoke was Amin Ul Haque. The head of policy, Janet White, as well as the chairman of the Pakistan Telecommunication Authority (PTA), Major General (R) Aamir Azeem Bajwa, Asif Jafri of QisstPay, and the chief executives of Ufone, Jazz, Telenor, and exceptional Communication Organization were present at the recent launch ceremony (SCO).

In light of this event, Federal Minister Amin Ul Haque explained the objective he had in mind for the new effort. According to the minister of information technology, a smartphone may be obtained by anybody who pays 20 to 30 percent of the entire item cost. In addition, he said that there is no need to provide any assurances or complete a substantial amount of paperwork to get the mobile phone; instead, the deal may be finalized by simply examining the buyer’s identification card.

The minister explained further by going into further detail regarding the monthly payment distribution. He stated that mobile phones with prices ranging from ten thousand to one hundred thousand rupees would be made available after the completion of a payment plan lasting between three and twelve months.

Amin Ul Haque also explained the reasoning behind the introduction of this product, which centers on making cell phones much more accessible and, as a result of this goal, growing the market for online purchasing.

In addition, he said that implementing this strategy will ensure the availability of mobile devices with an enhanced connection.

Currently, seventy projects with a combined value of sixty-five billion rupees are being worked on to boost connectivity.

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