Govt okays Rs6 billion fund for PSEB

ISLAMABAD: The federal cabinet meeting on Wednesday approved a fund of Rs6 billion for the Pakistan Software Export Board (PSEB), ARY News reported.

In a statement, Federal IT Minister Aminul Haq thanked Economic Coordination Committee (ECC) and the federal cabinet for approving the funds.

Last year in December, Prime Minister Imran Khan announced to establish a software city in Islamabad and take software-related exports of the country to US$ 10 billion.

During the meeting, it was decided to strengthen the country in the Information Technology sector likewise other countries of the region.

It was decided to digitally connect the cities using telephone towers across the country other than completing bandwidth and fiber optic process on an immediate basis.

Aimed at improving software exports, the government decided to introduce a relief package for small-scale software exporters.

The establishment of a software city spanning over 40 acres of land in the federal capital was also approved, where facilities would be provided to exporters.

The Pakistani institutes would also be directed to make purchases from the local industry as the government plans to eliminate double taxation from federal and provincial governments, the meeting agreed.