Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday approved the Ministry of IT and Telecommunications’ new strategy to increase digital exports to roughly $10 billion.
T minister Dr. Umar Saif said in a tweet that the new IT strategy will address and minimize obstacles in the IT sector, raising the potential for digital exports to around $10 billion.
According to the interim IT minister, Prime Minister Anwarul Haq Kakar has approved the plan which would enhance IT exports by institutionalizing dollar retention accounts, IT corporate debit cards to enable easy flow of money in and out of retention accounts, streamlining tax issues and training 200,000 IT professionals to add $5 billion to IT exporters.
The new strategy would allow authorities to bring PayPal and Stripe to Pakistan and establish co-working spaces for 500,000 freelancers to increase their potential to an additional $3 billion per year.
The ministry aims to launch Starlink in Pakistan to improve connectivity throughout the country, while at the same time introducing a state-backed venture capital fund to attract top-tier international VCs to Pakistan and enable $1 billion VC investment in startups.
According to the IT minister, the new plan would allow the ministry to enable active spectrum sharing, forward-looking taxation policies, regulations, and incentives for the telecom industry to prepare for the upcoming 5G auction within 10 months.
Ad powered by advergic.com
Lastly, the new strategy aims at offering fresh incentives for local manufacturing and export of smartphones in Pakistan, as well as a smartphone financing platform (so that people can easily get phones in monthly installments) to enhance local demand.