IT Industry will Hear a Good News in the Upcoming Federal Budget, says FBR

Asim Ahmad, Chairman of the Government Board of Revenue (FBR), stated on Wednesday that the IT industry could expect positive news in the federal budget, which will be announced on Friday.

He was addressing the Special Technology Zones Authority’s contract signing for the development and implementation of the One Window Portal System (STZA).

He claimed that as the government’s apex revenue collection body, the FBR plays a critical role in fostering a business-friendly environment.

Good News for the IT Industry

“The STZA One Window Portal will make it easier for both domestic and international investors.” It will also be real-time linked with FBR and Customs systems, according to Mr. Ahmed.

The FBR chairman went on to say that the tax collection agency was dedicated to providing all necessary assistance to STZA in this area, adding that a working group had been formed and that work with PRAL and PSW was already underway.

The STZA was established as an independent agency under the Cabinet Division to give legislative and institutional assistance for Pakistan’s technology sector development.

STZA has an innovative and futuristic mandate to establish special technology zones (STZs) across the country for diverse technologies, including IT.

The One Window Portal will be a digital system that will make it easier for STZA-licensed businesses in Special Technology Zones (STZs), Systems Limited, and the STZA to transact business.

The facility would allow businesses to be digitally onboarded and integrate them with government and regulatory bodies.

The provision is supposed to aid in the promotion of transparency, the convenience of doing business, and the facilitation of Foreign Direct Investment (FDI) in Pakistan.

The STZA’s overall objective of building a scientific and technological ecosystem through the construction of zones to boost technology development in the country includes the One-Window Portal.

Also read: New Screen Time Limitations Added to TikTok for Users to Take Breaks