IT Export Growth Thwarted Due To SBR-FBR Policies
Prime Minister Shehbaz Sharif recently stated that Pakistan offers large opportunities for investments in the technology sector. The Pakistani government even intends to increase IT exports to $15 billion in the coming years. In order to achieve this target, he said that foreign tech companies will be facilitated in all respects with regard to investment, expansion, and close collaboration. Federal Minister for Information Technology and Telecommunications Syed Aminul Haque stated that the Federal Board of Revenue (FBR)’s policies and some rules of the State Bank of Pakistan (SBP) are hindering the growth of IT exports in Pakistan. In addition to that, they are also increasing export remittances through freelancers. While presiding over a meeting, Haque stated: He also stated that it is necessary to solve the problems of the IT and Telecom industry. Moreover, it should be given maximum relief for the enhancement of the country’s digital economy. The Prime Minister’s Advisory Council on IT members also suggested that there should be no taxes for IT, freelancers, E-commerce, and Startups in order to facilitate domestic digital transformation and growth in exports. Otherwise, it will encourage people to park a significant portion of their earnings abroad which will be a loss to the exchequer. There is a need for consistency in government policies in order to attract local and international investors. The IT minister added: Minister further stated that the FBR policies were an impediment to the increase in the number of IT exports and freelancers and export remittances which forces software companies and freelancers to shift their business to other countries. It would be dangerous because our talent would be used here but the benefits and credit will go to another country. Also Read: A New Apple AirTag Firmware Rolls Out Ahead Of iOS 16.2 Update (phoneworld.com.pk)
