Prime Minister Imran Khan has said that Tech-savvy youth and Information Technology sector are Pakistan’s biggest assets that can be exploited to bridge the huge current account deficit.
He said this on Tuesday while chairing a meeting to follow up on his foreign visits and IT sector initiatives introduced by the Government.
Premier Imran Khan said, “We are announcing tax holiday and 100% Forex retention for IT/ITeS Companies and freelancers registered with Pakistan Software Export Bureau (PSEB) to incentivise investment in IT sector for economic turnaround.”
Emphasizing on his vision to boost IT exports to $50 Billion in the next few years, the prime minister highlighted the importance of unleashing the IT industry by providing them ease of doing business and the best incentives globally available. He announced a historic reform package for the growth of IT sector.
He announced the establishment of Pakistan Technology Startup Fund to provide seed funding worth Rs.1billion to around 50 Startups annually.
The Prime Minister directed the authorities concerned to establish Special Technology Zones (STZs) on fast track basis in Islamabad and all provincial capitals to create hubs of IT/Technology innovation and investment in cities in the first phase, sectors of CDA in Islamabad Will be declared as Special Technology Zones so that IT firms and freelancers can avail the benefits offered by Special Technology Zones Authority (STZA).
PM Imran Khan also directed them to introduce necessary changes in the Foreign Exchange and Income Tax policies in order to help IT Startups thrive in the country.