PM announces start-up fund for IT promotion

By Team CG
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Februry 23, 2022
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PM announces start-up fund for IT promotion

Prime Minister Imran Khan has announced the establishment of a start-up fund to strengthen the country's IT sector.

According to media, a meeting on the IT sector was held under Prime Minister Imran Khan's presidency, with federal ministers in attendance. Prime Minister Imran Khan authorized a historic package for the country's IT sector development on the occasion, under which Pakistan Technology Start will grant seed money worth Rs. 1 billion annually to 50 new enterprises and individuals in the industry. It was decided to establish a fund.

To encourage investment in the IT sector, the Prime Minister announced tax holidays and forex retention for IT businesses and freelancers registered with the Pakistan Software Export Bureau.

He stated that the government intends to expand IT exports to $50 billion in the next few years in order to make doing business easier for the IT industry and to encourage it by giving the finest incentives available globally.