• Download the Constitution of Pakistan
  • Advertise
Tuesday, May 13, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Govt sets up Rs10b fund for IT companies

by Web Desk
August 11, 2021
in Business, Technology
Reading Time: 1 min read
0
IT
Share on FacebookShare on TwitterLinkedinWhatsapp

The government has announced major incentives for the IT and telecom sector in a bid to boost overall growth of the economy.

During a meeting on Tuesday, Finance Minister Shaukat Tarin approved Rs10-billion fund to give cash rewards to IT companies against their exports and offered 5% rebate for IT exports.

The finance minister was of the view that IT exports needed to be enhanced and the government will provide all-out assistance to the sector. While, welcoming the decision of the finance minister, Pakistan Software Houses Association (P@SHA) also expressed concerns over the attitude of the Federal Board of Revenue (FBR), accusing the tax collection body for harassing exporters and creating hurdles in the growth of IT sector in the country.

The delegation of P@SHA and the Pakistan Software Export Board (PSEB) held a meeting with the finance minister and apprised him of issues faced by the software houses and IT exporters.

Apart from the rebate, it was decided that 1% of annual remittances by the IT sector would be allocated to PSEB every year to carry out skills development, capacity enhancement of IT companies, branding, marketing, and establishment of software technology parks across Pakistan. Foreign companies were also allowed repatriation of their profits.

Tags: IT companiesIT exportsPakistan Software Export BoardPSEBTelecom Sector
Web Desk

Web Desk

Related Posts

Samsung S25

Samsung Unveils Slimmest S25 Edge Ahead of Apple’s iPhone

by Anum Arif
May 13, 2025
0

Samsung Electronics has officially launched its slimmest flagship smartphone to date, the S25 Edge, marking a strategic move to solidify...

KSE-100 Surges Past 120,000as Ceasefire, IMF Funding, andTax Relief Fuel Market Rally

KSE-100 Surges Past 120,000as Ceasefire, IMF Funding, and Tax Relief Fuel Market Rally

by News Publishing
May 13, 2025
0

The Pakistan Stock Exchange (PSX) extended its historic rally on Tuesday, with the benchmark KSE-100 Index climbing back above the...

PKR and Dollar

PKR Rises Amid Trade Truce Optimism

by Anum Arif
May 12, 2025
0

The Pakistani rupee showed early signs of strength on Monday, appreciating 0.1% against the US dollar in the inter-bank market...

PSX skyrockets nearly 10,000 points as ceasefire lifts investor confidence

PSX skyrockets nearly 10,000 points as ceasefire lifts investor confidence

by News Publishing
May 12, 2025
0

The Pakistan Stock Exchange (PSX) witnessed a historic rally on Monday, with the benchmark KSE-100 index surging over 9% following...

Export of services rises to $6.2bn in July-March

Export of services rises to $6.2bn in July-March

by News Publishing
May 9, 2025
0

Pakistan’s exports of services rose by 9.85% to $6.24 billion during the first nine months (July–March) of fiscal year 2024-25,...

Jets

CAC Stock Soars After PAF Downs Indian Rafales

by Anum Arif
May 7, 2025
0

Shares of China’s Chengdu Aircraft Corporation (CAC), the manufacturer of the JF-17 and J-10C fighter jets, surged more than 17%...

Next Post
exports

Services exports grow by 9.19pc to $5.937bn

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters