ISLAMABAD: The Prime Minister’s Advisory Council on Information Technology (IT) and Digital Economy, while lamenting the lack of support from the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR), suggested that there should not be any new taxes and/or procedures for IT, freelancers, E-commerce and startups to facilitate domestic digital transformation and growth in exports.
The preliminary meeting of the PM’s Advisory Council on IT and Digital Economy, chaired by Federal Minister for Information Technology and Telecommunication Syed Aminul Haque, cautioned that in case of non-implementation of these proposals, people will be encouraged to park a significant portion of their earnings abroad which will be a loss to the exchequer.
The preliminary meeting was also attended by Minister for Finance Miftah Ismail, SAPM on youth Affairs Shaza Fatima, Senator Afnanullah Khan, Secretary IT Mohsin Mushtaque Chandna, Additional Secretary MOITT Ayesha Humaira, Former Secretary IT Shoaib Ahmed Siddiqui, representative from the FBR, State Bank of Pakistan, USF, and other members of the council representing IT and Telecom Industry attended the meeting.
Haque while chairing the meeting stated that for the enhancement of the country’s digital economy, it is necessary to solve the problems of the IT and telecom industry and give them maximum relief.
Prime Minister Shehbaz Sharif also has a special interest in promoting the IT industry. Federal Minister for IT and Telecom constituted three committees for IT Export, Personal Data Protection and Telecom Sector growth. The committees will finalize their recommendations in a week’s time which will be presented to the prime minister who is the chairman of the Advisory Council.
In order to enhance the Digital Economic activities in the country, the meeting discussed the CPEC projects related to IT and Telecom, Broadband Services in un-served and under-served areas to provide digital solutions on a micro level.
Matter related to the IT and Telecom Industry and proposals from the stockholders discussed deeply that, how to enhance the digital economy of Pakistan by identifying the key areas of growth, their challenges and way forward to overcome these challenges.
On Data Protection Law Member IT Syed Junaid Imam and Member Legal Babar Suhail, while Member Telecom Muhammad Umar Malik, MD PSEB Osman Nasir, Chairman PASHA Badar Khushnood, and CEO Jazz Amir Ibrahim briefed Advisory Council about the issues related to the IT and Telecom Industry and suggested key points to resolve and boost the digital economy.
The Council Members suggested that there should not be any new taxes and/or procedures for IT, Freelancers, E-commerce, and Startups to facilitate domestic digital transformation and growth in exports. Otherwise, people will be encouraged to park a significant portion of their earnings abroad which will be a loss to the exchequer. The IT and ITeS is the fastest growing and lowest investment option to grow Pakistan’s forex reserves so we have to ensure ease of doing business and policy continuity as much as possible.
The Advisory Council stressed the need for consistency in government policies to attract local and international investors, saying that industry and investors become uncertain due to the changing situations, which hurts the efforts to promote the Digital Economy.
The required support from the SBP and the FBR is not forthcoming. Agreeing, IT Minister Syed Aminul Haque said that the purpose to constitute the Advisory Council was to formulate workable proposals to address the issues of the IT and Telecom industry, make the industry more functional in the national economy and then required directives by the prime minister can be issued in this regard.
“When all the stakeholders/institutions are on board and the issues resolved in a timely manner, there is no reason the industry cannot become the backbone of the country’s economy and lead the country out of the economic crisis,” the IT minister added.
Copyright Business Recorder, 2022
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