Caretaker Federal Minister for Information Technology and Telecommunications, Dr. Umar Saif, has revealed that Pakistan is taking significant steps to entice global investors to participate in a proposed venture capital initiative aimed at supporting startups.
Dr. Saif also announced plans to visit Saudi Arabia soon, as part of the government’s efforts to boost the IT sector. Additionally, the government is in the process of establishing 5,000 joint e-working centers designed to cater to freelancers.
One of the noteworthy initiatives introduced by the government is providing interest-free loans to facilitate the establishment of these joint e-working centers, ultimately creating millions of employment opportunities within the country.
Dr. Saif expressed that he had held constructive discussions with Caretaker Finance Minister Dr. Shamshad Akhtar, focusing on a 5-point agenda related to the IT sector.
Among the key issues discussed was the matter of dollar retention within the IT industry. Dr. Saif assured that positive developments in this regard would be announced soon. This move aims to not only repatriate overseas IT accounts to Pakistan and restore investor confidence but also to boost the influx of foreign currency into the country and rapidly increase IT exports.
Furthermore, Caretaker IT Minister Dr. Umar Saif stressed the importance of redefining the role of the Pakistan Software Export Board (PSEB) to assist IT companies in securing international clients and expanding their businesses globally. He emphasized that Pakistan possesses a unique advantage in terms of its IT professionals and time zone, making it essential to effectively introduce Pakistani IT/ITeS products to the global market.
Dr. Saif instructed PSEB to expedite the necessary steps for the training of 200,000 IT professionals, a move expected to contribute significantly to adding $5 billion in IT exports.
During the 58th meeting of the Pakistan Software Export Board (PSEB), discussions also revolved around matters pertaining to the IT industry and strategies to attract more investment into the country.
