The Ministry of Information and Technology (IT) and Telecommunicationsrecently received approval from Caretaker Prime Minister Anwaar-ul-HaqKakar for its new IT policy, which aims to bolster the nation’s digitalexports to a substantial $10 billion. Caretaker Minister for IT and TelecomDr. Umar Saif revealed that this policy will focus on overcoming obstaclesin the IT sector, thereby unlocking the potential for digital exports toreach this significant financial milestone.
In line with its objectives to enhance the services sector, the ministryhas outlined plans to introduce training programs that align withinternational standards, primarily targeting the youth population, asmentioned by Dr. Saif.
Additionally, the Prime Minister has shown support for this initiative,emphasizing the need to institutionalize dollar retention accounts,facilitate the flow of funds with IT corporate debit cards, and streamlinetax-related matters.
Furthermore, an ambitious training program for 200,000 professionals hasalready commenced, with the goal of contributing to Pakistan’s IT exports,potentially reaching $5 billion.
During a high-level meeting, the Prime Minister directed variousgovernmental bodies, including the Ministry of Finance, the State Bank ofPakistan, the Ministry of Trade and Commerce, the Federal Bureau of Revenue(FBR), and the Ministry of Energy, to collaborate closely with the Ministryof IT.
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The Caretaker Minister for IT also shared that the new policy aims toattract international online payment processing platforms like PayPal andStripe to Pakistan. Moreover, it seeks to establish co-working spaces for500,000 freelancers, potentially adding another $3 billion annually to thecountry’s digital export revenue.
The IT policy’s comprehensive approach includes measures toinstitutionalize dollar retention accounts, enable seamless monetarytransactions through IT corporate debit cards, and encourage venturecapital investments of up to $1 billion for startups. Additionally, thepolicy focuses on optimizing spectrum utilization through extensive reformsand plans for active spectrum sharing.
Dr. Saif also highlighted the ministry’s intention to incentivize localcell phone manufacturing and smartphone export, leveraging Pakistan’sposition as the seventh largest cell phone market globally. These measuresunderscore the government’s commitment to driving economic growth andinnovation in the IT and telecommunications sectors.
