Staff Reporter
Islamabad
The Ministry of Information Technology and Telecommunication (MoITT) Friday said the net foreign direct investment (FDI) in information and communication sectors had surged to US $491.3 million during the first nine months of fiscal year 2019-20 (July-March).
In a news release, the MoITT claimed that the jump was witnessed due to its inclusive steps that included policy interventions.
“On the direction of the Federal Minister for IT and Telecommunication, Ministry of IT and Telecommunication has taken number of steps, including policy interventions that contributed both directly and indirectly in the economy and national exchequer.”
Citing the State Bank of Pakistan report, the ministry said net FDI in the information and communication sectors during July 2019 – March 2020 was US $ 491.3 million as compared to the negative net FDI of US $ 113.7 million during the corresponding period of FY 2019-20.
The MoITT had played an important role regarding the development of IT and Telecom industry and adopted facilitative approach towards it.
