ISLAMABAD: Pakistan has prioritized the Information Technology sector by allocating a significant portion in the fiscal year 2024-25.
A total of Rs 79 billion has been allocated for the Information Technology sector in the budget. Out of this, Rs 7 billion has been allocated to digitalization and reforms within the Federal Board of Revenue (FBR) to enhance its performance.
The budget for 2024-25 has also allocated Rs 1 billion for the Ministry of Information Technology and Telecommunication to set up the National Digital Commission (NDC) and the Digital Pakistan Authority (DPA).
Finance and Revenue Minister Senator Muhammad Aurangzeb said that the aims of setting up the Digital Commission (NDC) and the Digital Pakistan Authority are to drive digital transformation, foster innovation, and implement digital solutions across various departments.
Emphasizing the government’s focus on promoting the Information Technology sector, he noted its potential for significant profits with targeted investment.
In his speech, the minister projected Pakistan’s IT exports to reach $3.5 billion, citing the country’s talented youth and IT-friendly policies. Modern IT systems at the FBR will expand the tax net base and address loopholes in tax collection.
Moreover, Rs 11 billion was set aside for the Technology Park Development Project in Islamabad, while Rs 2 billion was proposed for the Pakistan Software Export Board (PSEB) to support IT exporters and firms offering internships to students. Another Rs 20 billion was proposed for Digital Infrastructure Information.
It is pertinent to mention here that the federal cabinet yesterday approved the Digital Nation Pakistan Act 2024 to establish the National Digital Commission and Pakistan Digital Authority.
