Govt Likely to Introduce Package to Facilitate IT Industry

The Ministry of IT and Telecom (MoITT) has prepared a package to facilitate the Information Technology (IT) industry which is likely to be approved soon.

Sources in MoITT have told ProPakistani that the subcommittee of the Prime Minister’s (PM) advisory council on IT and digital economy has proposed a package for the IT sector to boost the digital economy and enhance IT exports. The package has been prepared in consultation with all stakeholders, and it will be presented to the Prime Minister soon.

Sources said that the package proposes incentives, including tax exemptions, to facilitate the IT sector, freelancers, and startups. The package also includes fiscal and non-fiscal incentives demanded by the IT industry. Sources have also revealed that except for some additions, the package is almost the same as the one announced by the previous PTI regime. The previous government’s package could not be started due to the non-cooperation of the Federal Board of Revenue FBR and the State Bank of Pakistan (SBP).

Secretary General Pakistan Software Houses Association (P@SHA), Hira Zaineb, confirmed that the MoITT has prepared a package in consultation with the industry. Currently, these are just recommendations while the list is longer than the previous package. She said that the Industry needs to see the latest announcement to comment further on it. She also stated the package is long due, and the industry is waiting for it.

According to MoITT officials, the coalition government seems serious about boosting the IT industry, as the PM has formed an advisory council for IT and the digital economy. Finance Minister, Miftah Ismail, also believes that exports can be increased significantly by giving incentives to the IT industry. Time has been sought from the PM for a briefing on the package. As soon as the time is confirmed by the PM Office, the advisory council will brief the PM on the package and it will be announced.

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