In a meeting chaired by the Prime Minister of Pakistan, federal Cabinet approved the first ever Digital Pakistan Policy. The policy contains several incentives for the information and technology and services, extension of income tax holiday, 5% sales tax on services (domestic), provision of bank loans to IT/ITeS industry, 5% cash reward on export remittances, Tech SEZs (special economic zones) to create a digital ecosystem with infrastructure and institutional frameworks.
According to the approved policy, in consultation with IT industry including PASHA to boost the IT/ITeS exports the proposals for fiscal incentives for IT industry are recommended. The Ministry of IT & Telecom will recommend the proposals for inclusion in the relevant documents.
Federal Cabinet Approves First Ever ‘Digital Pakistan Policy’
Anusha Rehman, The Minister for IT and Telecom and Secretary said after the approval of the policy document:
“Digital Pakistan’ Policy will serve as a catalyst towards a holistic Digital ecosystem in the country with advanced concepts and components for the rapid delivery of next generation digital services, applications and content”
Anush Rehman appreciated the hard work of IT Ministry team for dedicated efforts for the finalization of the subject policy.
In consultation with Ministry of IT & Telecom, Finance Division will work with relevant stakeholders including State Bank to reduce long-term financing rates to 5% for IT/ITeS companies.