Technology investments under CPEC to boost local IT Industry

APP – Pakistan’s domestic Information Technology (IT) market is expected to multiply as government has allocated Rs 486.726 million for Expansion and up-gradation of NGMS (3G/4G) services and seamless coverage along KKH (In support of CPEC) in Gilgit Baltistan.

The project is one of the important on-going projects of ministry, total Rs. 2658.713 million have earmarked for eight on-going schemes of Information Technology and Telecommunication Division for the fiscal year 2018-19 in the Public Sector Development Programme (PSDP).

Talking to APP spokesperson of ministry of Information Technology and Telecommunication said, ongoing scheme regarding CPEC include, Construction of Cross – Border OFC System between China and Pakistan for International Connectivity of voice/Data Traffic (SCO) and Provision of Seamless GSM Coverage along KKH for Proposed Gawadar – Kashighar Economic Corridor in Gilgit Baltistan (SCO).

He said, The China-Pakistan Economic Corridor (CPEC) trade corridor, which includes the building of roads, ports, dams, connecting cities, serving unserved areas  has provided a much needed booster dose to the economy which will bring benefits to the IT industry too.

China-Pakistan Economic Corridor which is part of China’s One Belt, One Road (OBOR) project, is bringing in US$46 billion in investments, and this has also given a boost to the local IT and telecom industry, he added.

Pakistan’s domestic Information Technology (IT) market is expected to multiply due to China Pakistan Economic Corridor Project (CPEC).

Government is making all possible efforts to enhance exports of Pakistan’s IT sector and has extended major incentives to the IT Industry which include a variety of tax exemptions, permission to operate foreign exchange accounts, profit repatriation.