Technology

Budget 2019-20: Govt sets aside Rs 7.341 billion for IT and Telecom projects

With the budget announced, the Government of Pakistan is focusing on boosting the IT and Telecom sector of the country as it is one of the prime drivers of a growing economy. The 2019-20 budget focuses on 29 different ongoing and new development projects occurring under the Public Sector Development Programme (PSDP).

Out of the total Rs. 951 billion allocated for the development of the country, around Rs. 43 billion has been dedicated to the growth of science and technology wing of the country. In this Rs. 7.341 billion budget allocation, the government is focusing on the completion of 10 ongoing projects by spending Rs. 1.466 billion from this budget and 19 new schemes will be introduced from the remaining Rs 5.864 billion.

The government is also setting aside Rs. 600 million for the overhaul of 3G/4G services as well as Rs 474 million for sole replacement of GSM networks in Azad and Jammu Kashmir for the uplifting of the infrastructure there. The government also plans to build new technology parks in the capital city under the technology parks development project (TDP) and for that, Rs. 100 million have been allocated.

We recently saw that remittances from the IT sector have seen a staggering 151% growth over the past 5 years plus Pakistan has been labelled as the 3rd most attractive location in regards to offshore services. IT exports have also crossed $3.3 billion a year and it shows this industry is a significant revenue generator for our country.

What are your thoughts regarding the budget allocation for IT and Telecom? Do you think it is adequate for the growth of this sector?

Sponsored
Shaheryar Ehsan

Content Team Lead. Blogger, Content Developer, Social Media, and SEO Expert. Reach out: shaheryar.ehsan@techjuice.pk

Leave a Comment
Share
Published by
Shaheryar Ehsan

Recent Posts

Microsoft Launches AI-Powered “Support Virtual Agent” for Xbox Users

Microsoft has launched its AI-powered “Support Virtual Agent” chatbot for Xbox Insiders in the U.S.,…

38 mins ago

Musk Says Tesla Won’t Enter Smartphone Market Unless Necessary

Android Authority recently polled its users to find out if they would purchase a Tesla…

47 mins ago

Sukkur IBA Sets Seven Conditions for Conducting MDCAT

The Secretary of the Sukkur IBA Testing Agency has formally requested urgent action from the…

1 hour ago

PSEB Opens Bidding for Nationwide e-Rozgar Centers

The Pakistan Software Export Board (PSEB) has launched a nationwide program to encourage IT startups…

2 hours ago

Google Play Services Bug Disrupts Access to Apps for Pixel Users: Here’s How to Fix It

A significant issue with Google Play Services has left many Pixel users unable to access…

2 hours ago

WhatsApp Beta Partners with Google for Innovative Image Search Feature

When it comes to Android messaging apps, WhatsApp stands out as one of the best.…

2 hours ago