SIFC’s initiatives are expected to attract foreign investment of 10 to 20 billion dollars in the IT sector
The importance and utility of telecommunication and information technology are increasingly recognized, prompting innovation and new reforms in the IT and telecom sectors under the Special Investment Facilitation Council (SIFC). These initiatives are aimed not only at strengthening the country’s economy but also at promoting the latest technology and training the youth.
In the IT sector, SIFC has championed the development of technology zones and technology parks. To attract and support IT companies, policies have been formulated to provide various tax concessions, ease of doing business, and financial assistance under SIFC’s supervision.
Additionally, incubation centers have been established to provide development opportunities for new start-ups. SIFC plans to open special foreign currency accounts for IT companies, provide IT training to 200,000 university students, and establish 10,000 e-employment centers.
These measures are anticipated to attract foreign investment of 10 to 20 billion dollars into Pakistan’s IT sector. This influx of investment is expected to strengthen and stabilize Pakistan’s economy, ushering in a new era of development.
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