On Thursday, Pakistan Software Export Board, a department under Ministry of IT & Telecommunication inaugurated the Fazal Software Technology Park. The Software Technology Park (STP) will be working under the supervision of the Ministry of IT & Telecommunication.
IT Secretary Inaugurates New Software Technology Park
Secretary IT Shoaib Ahmed Siddiqui, who was the Chief Guest, inaugurated the Technology Park. The ceremony was attended by, President ICCI and senior officials from the ministry, ICCT and Pakistan Software Export Board. Last year, Gilgit STP was inaugurated in collaboration with SCO and this is the second STP inaugurated in Pakistan in less than 3 months.
Federal Minister for IT & Telecom Syed Amin Ul Haque said, “Pakistan’s IT Industry is receiving top priority from the present government, which has been working diligently to improve the state of Pakistan’s economy, create jobs and lift overall quality of life. As a result, the industry is being provided strong government support and extremely attractive incentives and there are several projects intended to facilitate and assist IT Industry in its growth trajectory and to ensure continued upward momentum in local and export earnings.”
He further added that the government wants to develop the Special Economic Zones and Special Technology Zones to promote indigenization for reducing our overreliance on imports and boost our exports.
The Ministry of IT has rolled out strong incentives for Special Technology Zones that include a 10-year exemption from income tax, property tax, other taxes and custom duties. Government wants to bring development in this industry as it has the capacity to boost the economy, uplift living standards, and offer job opportunities.
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