PM Shehbaz decides to launch fixed tax region to boost IT exports

ISLAMABAD – The federal government has decided to start fixed tax regime in order to boost IT exports of the country.

Prime Minister Shehbaz Sharif took the decision in a high-level meeting held to discuss budget proposals for Information Technology and Telecommunication sector. The meeting decided to constitute a committee to finalize recommendations for the IT sectors.                 

The meeting also accorded approval to special incentives for new business start-ups in IT sector and for promotion of business and trade through modern technology and IT. The meeting also approved a special program for skill development of youth in the field of IT and modern technology as well as the establishment of special training IT zones, state broadcaster reported.

Speaking on the occasion, the premier said vocational training of the youth was one of the key focuses of the government for which significant funds will be earmarked in the budget.             

Noting that currently, IT skills training is being provided to 45 thousand youth in the country, he said laptops will be given to one hundred thousand more youth on merit.

He hoped that the new budget recommendations in the IT sector will open up new employment opportunities in the sector while the Special Technology Zones will ensure tax incentives to IT companies.

He gave the IT sector a target to increase its exports to $4.5 billion next year.