Caretaker govt works out IT plan for long-term economic boost

ISLAMABAD: The caretaker government has worked out a comprehensive plan for a long leap to exploit information technology (IT) to boost the overall economy on an enduring basis. Several projects have been outlined for the purpose and in the longer run they would prove to be a source of all-round progress in the sector.

In a video talk, Federal Information Technology and Telecommunication (IT&T) Minister Dr Umar Saif has provided a brief of the projects and has said that by offering incentives to handset manufacturers and strategically positioning, Pakistan as a digital gateway for China, Central Asian States, and Russia, has aims to catalyze exports, stimulate investment, and fortify technological prowess on both national and international fronts.

His talk has come on the eve of the completion of the caretaker administration’s mandate which is about to end. He pointed out that the government’s proactive stance extends to the realm of satellite services, with the formulation of a space policy designed to allure satellite service providers.

“In a bid to cultivate innovation and entrepreneurship, the government is also rolling out co-working spaces and instituting a startup fund geared towards providing crucial capital for burgeoning ventures”, the minister said.

Dr Umar Saif who is in his own right an acclaimed IT stalwart, has outlined a comprehensive array of initiatives aimed at bolstering the country’s IT sector and catalyzing economic advancement. These measures encompass a wide spectrum of strategies spanning from financial facilitation to infrastructural development, aiming to position Pakistan as a formidable player in the global digital landscape.

Among the key initiatives disclosed by Dr Saif is the introduction of foreign currency retention accounts tailored specifically for IT enterprises. The move is expected to streamline financial operations for tech companies, thereby fostering an environment conducive to growth and investment. Additionally, the implementation of training programs aimed at augmenting the IT workforce underscores Pakistan’s commitment to nurturing local talent and meeting the demands of a rapidly evolving industry.

Furthermore, measures to facilitate remittances through platforms like PayPal and allocate spectrum for 5G networks signify a concerted effort to enhance connectivity and technological infrastructure. Dr Saif further highlighted the formulation of a national fiberization policy and the establishment of a telecom tribunal as pivotal steps toward creating a robust telecommunications framework.

“These initiatives are poised to improve not only domestic connectivity but also attract foreign investment and propel Pakistan’s emergence as a digital connectivity hub in the region”, he said. With these multifaceted initiatives, Pakistan is primed to capitalize on the opportunities presented by the digital age, charting a course toward sustainable economic growth and technological innovation, Dr Umar Saif assured.