The decision was taken at a meeting on Tuesday, February 22, chaired by Prime Minister Imran Khan. Representatives from the Ministry of Information and Telecommunications, Pakistan Software Export Board, State Bank of Pakistan, Federal Board of Revenue, Special Technology Zone Authority and Ignite National Technology Fund were also present at the conference.
The Ministry of International Trade and Tourism (MoITT) has suggested tax exemption benefits and other tax and non-tax incentives for the company.
This unprecedented and unwavering support for the IT/ITES industry and freelancers in Pakistan was made possible by Prime Minister Imran Khan and Federal Minister of Finance and Revenue Shaukat Tareen. A statement to this effect was made Tuesday in this city by the Federal Minister of IT and Telecommunications Syed Amin Ul Haque.
Also, the Prime Minister’s tax exemption for the IT industry was praised by Syed Amin-Ul-Haque. He went on to say that the federal government’s strong growth targets and timely interventions have brought all stakeholders up to speed in order to achieve targeted business potential. and compete in the global market.
In order to meet the operational needs of IT/ITES companies and freelancers, specialized currency accounts for these companies and individuals have been created. One of the most important decisions of the Prime Minister is his directive to IT/ITES companies and freelancers to keep all remittances received through proper banking channels in FCY accounts without being required to convert them into Pakistani Rupee (PKR ).
Freelancers and IT companies registered with the PSEB could send money out of the country without limitation. Funding streams for the IT/ITES sector and freelancers were also ordered by the Prime Minister, taking into account the operational architecture and industry demands.
As part of this historic package for the establishment of a public-private partnership venture capital fund, the Prime Minister has also accepted the recommendations of the Pakistan Technology Startup Fund. This fund will be established through public-private partnerships established under the Ignite National Technology Fund.