Pakistan to include special incentives for IT sector in annual budget-Xinhua

Pakistan to include special incentives for IT sector in annual budget

Source: Xinhua

Editor: huaxia

2023-06-07 14:08:45

ISLAMABAD, June 7 (Xinhua) -- Pakistani Prime Minister Shahbaz Sharif announced on Tuesday to include special incentives for the Information Technology (IT) sector in the next fiscal budget from July 2023 to June 2024, said the Prime Minister's Office.

Chairing a high-level meeting on the promotion of the IT sector, Sharif directed the authorities concerned to ensure a special package for the sector to boost the country's IT export, the Prime Minister's Office said in a statement.

The meeting decided to introduce a fixed tax regime for the IT sector in the budget and approved special incentives for new IT startups.

The meeting also approved special concessions for the promotion of business and trade through modern technology by creating special training IT zones on nurturing entrepreneurship.

Shahbaz further announced that the government would launch initiatives to train and encourage youth to start their businesses, distributing 100,000 new laptops to youngsters related to the IT sector.

The Pakistani government is finalizing its preparations to present the country's annual budget later this month before the lower house of the parliament.