Federal Government Announces Incentives for IT Industries
According to news reports, Federal Minister for Information Technology and Telecom (IT&T) Syed Amin-ul-Haque stated in Islamabad that the federal government has approved considerable incentives for Pakistan’s information and telecommunications sectors.
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The IT&T minister met with Federal Finance Minister Shaukat Tarin to discuss the persistent demands of Pakistan’s IT industry. The minister claimed that finance minister Tareen has approved a fund to compensate IT/ITeS companies for their product or service’s trade surplus.
In addition, the meeting decided to amend and broaden the tax definition of the IT and ITeS sector to include subsectors in cooperation with the IT industry.
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In addition, he noted that the government has made real initiatives to attract Foreign Direct Investment (FDI) in the country’s IT infrastructure, resulting in an increase in IT-related jobs. The minister of information technology also noted that measures are being done to aid freelancers, entrepreneurs, and the IT industry in establishing Special Foreign Currency Accounts (SFCA).
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