ISLAMABAD, Pakistan: The Minister of State for Information Technology Anusha Rehman on Thursday said every possible effort was being made to enhance growth of the IT Industry in Pakistan in line with the top priority that the current government had assigned to the sector from day one.
While chairing the 38th meeting of the Board of Directors of Pakistan Software Export Board (PSEB) in Islamabad, the minister said IT Industry was growing in Pakistan in terms of the number of companies, revenue, exports and workforce every year; thereby demonstrating clear confidence in the ability of the local companies to deliver IT solutions and services which meet expectations of foreign clients.
The meeting was convened to review various initiatives for accelerating growth of the IT Sector from between 2018-21.
The Board discussed the proposals at length that would take Pakistan’s IT & ITeS Industry in the next phase of growth.
The Federal Secretary IT Aamir Ashraf Khawaja, the Member Telecom Mudassar Hussain, the Member IT Syed Raza Shah, the Chairman Pasha Barkan Saeed, the Acting MD PSEB Syed Ali Abbas Hasani and other Board members were also present in the meeting.
Anusha Rehman said Pakistan’s IT & ITeS Sector had developed phenomenally due to their strenuous constant efforts and generous incentives and facilitation granted to the IT & ITeS Sector which included income tax exemption on IT exports till June 2019, 100 percent foreign ownership, 100 percent repatriation of capital and dividends, three-year tax exemption for IT startups, and tax holiday for venture capital funds till June 2024.
The minister for information technology said Pakistan’s growth rate of IT & ITeS exports had jumped 150 percent over the last five years, which was a remarkable achievement.