ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Thursday US financial services company Visa will triple the size of its office in Pakistan and collaborate with the country’s first-ever domestic payment card scheme, 1Link and PayPak.
Visa Inc. is a global payments technology company that operates one of the world’s largest electronic payment networks, enabling consumers and businesses to make payments using Visa-branded credit, debit and prepaid cards.
Visa doesn’t issue cards itself but partners with banks and financial institutions to do so. 1Link and PayPak is similar in concept to Visa or Mastercard but is designed specifically for local use within Pakistan.
The Pakistani minister, currently in Washington, appreciated Visa’s role in the digitalization of his country’s economy during a meeting with the company’s regional vice president, Andrew Torre.
“He [Aurangzeb] noted that Visa’s decision to triple the size of its office in Pakistan and its collaboration with 1Link and PayPak would contribute significantly to promoting financial inclusion, e-commerce, transaction security, and payment gateways in Pakistan, as well as facilitate remittances,” the finance ministry said in a statement issued after the meeting.
It added the finance minister also assured the company of the government’s full support in resolving any issues faced by them.
Aurangzeb’s meeting with Torre came as the country works toward a more inclusive and digitally empowered economy, with government backing and private sector innovation aligned.
VISA to triple Pakistan office size, partner with 1-Link, PayPak — finance minister
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VISA to triple Pakistan office size, partner with 1-Link, PayPak — finance minister
- Muhammad Aurangzeb hails company’s role in advancing digital payments and financial inclusion
- The finance minister also assures the US financial services company of the government’s full support
Pakistan okays Bangladesh’s Biman to begin Dhaka-Karachi flights as ties warm up
- Pakistan and Bangladesh were once one nation, but they split in 1971 as a result of a bloody civil war
- Ties between both nations have warmed up since ouster of PM Sheikh Hasina, viewed as an India ally
ISLAMABAD: Pakistan has granted Bangladesh’s national carrier, Biman Bangladesh Airlines, permission to begin flight operations between Dhaka and Karachi, the Pakistan Civil Aviation Authority (PCAA) said on Friday, amid strengthening ties between the two countries.
Pakistan and Bangladesh used to be one nation, but they split in 1971 as a result of a bloody civil war, which saw the part previously referred to as East Pakistan seceding to form the independent nation of Bangladesh.
Ties between Pakistan and Bangladesh have warmed up since the fall of former Bangladeshi prime minister Sheikh Hasina, who was widely viewed as close to India and critical of Pakistan, following a student-led uprising in August 2024.
Islamabad has attempted to forge closer ties with Dhaka in recent months after the two South Asian nations began sea trade in late 2024, which were followed by efforts to expand government-to-government commerce.
“Pakistan has granted Biman, the national flag carrier of Bangladesh, initial permission for three months up to March 26 to operate flights between Dhaka and Karachi,” a PCAA spokesperson told Arab News, adding that the duration could be extended.
The approval marks a significant step in restoring direct air connectivity between the two nations.
In Nov. last year, the now-privatized Pakistan International Airlines (PIA) said it had signed a cargo agreement with Biman, aimed at streamlining air freight operations and boosting bilateral trade.
A PIA spokesperson said the agreement was part of PIA’s strategy to expand its cargo business and offer more competitive services to customers.
Pakistan has stepped up efforts to rebuild relations with Bangladesh as ties between Dhaka and New Delhi remain strained over India’s decision to grant asylum to Hasina after she fled the country.
In Feb. 2025, a cargo vessel sailed directly from Pakistan to Bangladesh for the first time in decades and successfully unloaded containers, port officials said.
The two countries signed six agreements last August, covering areas such as visa exemptions for diplomatic and official passport holders, trade cooperation, media collaboration and cultural exchanges, officials said.
Separately, Islamabad allowed Britain’s Norse Atlantic to operate flights to the South Asian country, the Pakistani defense minister announced late Thursday. The airline will operate direct flights from London, Manchester and Birmingham to the Pakistani capital of Islamabad.
“The increase in operations of international airlines to Pakistan will promote a competitive environment leading to world class service and balance in fares,” Defense Minister Khawaja Asif said on X.
