It is a historic achievement, the federal cabinet has given approval of Pakistan’s first digital policy “Digital Pakistan Policy” which will offer many incentives for IT sector of the country. Prime Minister of Pakistan, Shahid Khaqan Abbasi chaired the meeting of the federal cabinet and approved the policy.
What You Need to Know About Digital Pakistan Policy
Ms. Anusha Rehman, Minister for IT and Telecom presented the draft of this policy to the federal cabinet. The new digital policy offers various benefits to IT sector which I will cover in this article. These major benefits include income tax holiday, 5% cash reward on IT export remittances, 5% sales tax reduction on domestic revenues in federal territories and in the provision of bank loans for IT industry.
[email protected] – Pakistan Software Houses Association has played a key role to convince the government for the approval of these major incentives in the history of country’s IT and Telecom industry.
It is also reported that PM Pakistan was reluctant earlier on providing approval for Digital Policy because of the fact the elections are near and next suitable government would be more suitable to make decisions. However, Ms. Anusha Rehman and few representatives from [email protected] convinced PM about the importance of such incentives for country’s benefits and well beings.
IT and ITes companies along with all call centers registered by Pakistan Software Export Board will be given 5% cash reward on their net export remittances. It will surely uplift the export remittances of Pakistan. Not just that, Ministry of IT and Telecom also suggested Federal Board of Revenue develop Tech Special Economic Zones (SEZs). These will be provided with lands by PSEB for the long-term lease for development of technology Parks in Pakistan.
Digital Policy of Pakistan also aims to boost e-commerce sector of the country through developing an ecosystem where PSPs (payment service providers) and payment service operators will collaborate to form more interactive e-commerce platform.
After the approval of the policy document, MoIT Anusha Rehman stated;
“Digital Pakistan’ Policy will serve as a catalyst towards a holistic digital ecosystem in the country with advanced concepts and components for the rapid delivery of next-generation digital services, applications, and content.”
The Digital Pakistan Policy will provide a basic framework to establish incubation centers in the country to boost technology startups so that they can efficiently work on global trends Internet of Things, Artificial Intelligence and Robotics etc. Prime Minister also directed Ministry of IT and Telecom to formulate a strategy to implement newly advised policy. The action plan will set key indicators for evaluation, monitoring and implement first-ever Digital Policy of Pakistan.
The Digital Pakistan Policy will help the country to drive its economic growth and make improvements in the country.