News

PM Imran Khan issues orders for building 40-acre ‘Software City’ in Islamabad

From the largest undergrad scholarship program in the nation’s history to the launch of Hunarmand Pakistan, Prime Minister Imran Khan has been intent on making sweeping changes in Pakistan. In a similar vein, he has reportedly ordered the establishment of a massive 40-acre software city in the country’s capital.

In a meeting held with high-profile officials from the Ministry of Information Technology and Telecommunications on Friday, PM Khan discussed a plethora of ways in which Pakistan’s IT sector could be strengthened. His vision is to boost the nation’s IT exports to $10 billion over the long term.

In this regard, a set of key decisions were made which were geared towards increasing Pakistan’s contribution to the global IT domain. One of the most significant decisions centered around the construction of a software city spanning 40 acres in Islamabad.

This establishment would host technology startups and companies thereby giving them a platform with state-of-the-art facilities to continue developing and investing in their growth. The focus on software startups is critical as they will be among the biggest drivers of growth in Pakistan’s IT contributions.

Furthermore, the federal government will also be introducing a relief package for small scale software exporters in order to assist them further in their development.

Other important developments include the PM’s decision to abolish the double tax imposed on software exporters by both the federal and provincial governments. Software exporters will also be supplied with foreign currency at a rate that is lower than that of the market. These developments are further going to incentivize the export of high-quality software in Pakistan thereby pushing the country closer to the goal of $10 billion in IT exports.

Finally, there was also considerable emphasis placed on the digital connection of remote and far-flung cities.

Sponsored
Hamza Zakir

Platonist. Humanist. Unusually edgy sometimes.

Leave a Comment
Share
Published by
Hamza Zakir

Recent Posts

Pakistani Passport Continues to Rank Among the Worst in the World

According to the most recent Henley Passport Index, Pakistan's passport is still one of the…

17 hours ago

November 9 Approaches: Will Iqbal Day Be a Public Holiday This Year?

As Iqbal Day approaches on November 9, Pakistan prepares to honor Allama Iqbal, the celebrated…

17 hours ago

Most Wanted Human Trafficker Taken Into Custody

GUJRAT: According to the Gujrat circle of the Federal Investigation Agency (FIA), they have arrested…

18 hours ago

Air Sial Starts Weekly Flights from Islamabad to Riyadh

Air Sial, one of Pakistan's leading private airlines, has officially launched its weekly flights from…

18 hours ago

Important Update on Profit Rates for Savings Schemes 

On Friday, the government stated that from November 4th, 2024, profit rates on National Savings…

20 hours ago

Pakistan to Legalize Bitcoin and Cryptocurrency Through SBP Act Amendments?

The federal government has proposed amendments to the State Bank of Pakistan (SBP) Act aimed…

20 hours ago