IT sector achieves remarkable growth in four months

January 12, 2024 (MLN): The Ministry of Information Technology and Telecommunications has shared the remarkable achievements made over the past four months in the Information Technology (IT) industry.

Under the caretaker setup, the strategic policy measures implemented by the government have yielded positive results for the IT industry as it has seen a notable growth of 13% in IT and ITeS exports

For IT services firms, special foreign currency accounts have been introduced, and training programs for IT skills are underway for 200,000 university graduates.

Moreover, freelancers in Pakistan will benefit from the launch of E-Rozgaar/Co-working centers across the country, supported by interest-free loans and training assistance.

Pakistani freelancers will also be able to receive payments through PayPal, facilitating international transactions.

To revolutionize the telecom industry in Pakistan and create a more favorable environment for capitalism, the government has committed to launching 5G, along with the approval of the country's first National Space Policy to enable affordable internet services by private-sector companies.

Telecom initiatives introduced by the government during this period include the introduction of a Telecom Tribunal and the implementation of a Telecom Infrastructure Sharing Policy.

To boost startups, the government has launched the Pakistan Startup Fund (PSF), offering co-investment opportunities and an International Startup Exchange Program.

This program is expected to create a staggering Rs50bn of value creation in the startup ecosystem per year, according to Dr. Umar Saif, the Federal Minister of IT & Telecom, and Science & Technology.

These comprehensive initiatives collectively aim to stimulate growth and innovation in the IT industry.

Dr. Umar Saif, expressed satisfaction with the progress, stating “where there is a will, there is a way.”

4 Months Journey - 13% Growth of IT & ITeS Export

"What we were able to achieve/start in just 4 months. Where there is a will, there is a way." @umarsaif #MOITT #UmarSaif #DigitalPakistan pic.twitter.com/Su1px2h7th

— Ministry of IT & Telecom (@MoitOfficial) January 12, 2024

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