Govt plans to boost foreign investment in IT sector: PM Kakar

Caretaker Prime Minister Anwaar-ul-Haq Kakar said on Wednesday the government was taking steps to boost foreign investment in the Information Technology (IT) sector, APP reported.

“We have already made progress in this regard,” the interim PM said while chairing the 5th meeting of the Special Technology Zones Authority Board.

In a bid to promote and develop the IT sector in the country, he directed the concerned authorities to chalk out necessary policies to attract international IT experts to Pakistan.

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PM Kakar said the IT sector could play a vital role in strengthening the country’s economy as Pakistan has huge potential in the sector.

During the meeting, various matters linked to the Special Technology Zones Authority came under discussion.

The meeting endorsed the decisions concluded during the 4th meeting of the Board of Governors of Special Technology Authority.

The meeting also approved the restructuring of the finance, audit, and technical committees of the Board of Governors of the Authority.

Furthermore, the meeting also gave nod to the presentation of drafts of the Authority’s licensing framework, procedures, and face regulations before the technical committee.

Federal Secretaries of Cabinet, Finance, Information Technology, Science and Technology, Chief Secretaries of all the provinces, and other Board members attended the meeting.

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The development comes weeks after Dr Umar Saif, Pakistan’s caretaker federal minister for IT and Telecommunications, said that the country would hear “good news” regarding PayPal and stripe payment gateways in Pakistan in the coming weeks.

Dr Saif said 1.5 million Pakistanis are working as IT freelancers. “We are the second-largest online workforce,” he said.

“However, the lack of infrastructure is holding us back. Through the E-Rozgar programme, interest-free loans will be provided to the private sector, under which co-working space for 500,000 people will be established,” shared the minister.