Pakistan aims to become a technological hub

September 12, 2023 (MLN): The government is committed to making Pakistan a hub for technological advancements and economic prosperity, Caretaker Minister for Finance and Revenue Dr. Shamshad Akhtar stated on Monday, said a press release issued by the Finance Division.

During the meeting, she reviewed and rationalized the progress and incentives provided by Special Technology Zones (STZs) and Special Economic Zones (SEZs).

She was of the view that the STZs and SEZs play a crucial role in the development and progress of a nation's economy.

"We shall focus more on promoting a business-friendly environment instead of relying exclusively on tax holidays," she emphasized.

The committee was apprised of the comparative models of STZs and the progress and challenges of existing STZs and SEZs respectively.

Moreover, a comprehensive discussion took place on the incentives currently available within STZs and SEZs, with a primary focus on enhancing their effectiveness and relevance to the rapidly evolving technological landscape.

It was also shared that out of eight Areas declared as STZs, five are fully functional.

The meeting also discussed strategies and policies aimed at fostering innovation, economic growth, and technological advancement through efficient management of STZs and SEZs to attract domestic and foreign investment.

Dr. Shamshad Akhtar expressed confidence that the deliberations amongst the participants would result in actionable recommendations to further enhance the effectiveness and efficiency of STZs and SEZs in order to fully utilize the potential of these STZs and SEZs.

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