IT sector witnessing significant growth in Pakistan

The Information Technology sector is witnessing significant growth under the auspices of Special Investment Facilitation Council (SIFC).

Keeping in view the potential of IT, the government has earmarked seventy-nine billion rupees this year for this sector.

Nineteen billion rupees will be spent on the construction of IT parks in Islamabad and Karachi while twenty two billion rupees have been allocated for Pakistan Software Export Board.

The IT sector is growing rapidly due to the facilitation of SIFC and many start-ups have emerged which are introducing themselves globally.

Earlier, Prime Minister (PM) Shehbaz Sharif vowed to boost the country’s IT exports.

Chairing a high-level meeting on the promotion of the IT sector, the prime minister emphasised the need to prepare a comprehensive package for the IT industry.

PM Shehbaz decided to introduce a fixed tax regime for the IT sector in the budget and also constituted a committee on it, besides directing the body to submit its recommendations immediately.

PM Shehbaz said that the government would spend a huge amount on the training of youth in the IT sector. Currently, a total of 45,000 young people across the country were being trained in the IT sector, he added.