The Prime Minister has shown great enthusiasm and approval for our comprehensive plan for the Ministry of IT and Telecom. This visionary plan is set to reshape Pakistan’s technological landscape and boost its economic growth. Here are the key highlights of this transformative agenda:
- Boosting IT Exports: Our first initiative aims to enhance IT exports through strategic measures. This includes institutionalizing dollar retention accounts, introducing IT corporate debit cards to facilitate seamless fund transfers, addressing tax-related challenges, and launching an ambitious training program to upskill 200,000 IT professionals. This collective effort has projected to contribute an impressive $5 billion to the IT export sector.
- Global Payment Platforms: To further empower freelancers and digital entrepreneurs, we intend to bring renowned payment platforms like PayPal and Stripe to Pakistan. Additionally, we’re planning to establish co-working spaces, which will benefit 500,000 freelancers and potentially increase their combined earnings by an additional $3 billion annually.
- Starlink Connectivity: To bridge the digital divide and improve nationwide connectivity, we committed to launching Starlink in Pakistan. This groundbreaking initiative will ensure that every corner of our country has access to high-speed internet, fostering digital inclusivity and economic growth.
- Venture Capital and Startup Ecosystem: We set to launch a government-backed Pakistan Venture Capital Fund that will attract top-tier international venture capitalists to invest in Pakistan’s thriving startup ecosystem. Our goal is to facilitate $1 billion in venture capital investments, fostering innovation and entrepreneurship.
- Telecom Industry Readiness for 5G: To prepare for the forthcoming 5G auction within a mere 10 months, we dedicated to Promoting active spectrum sharing, implementing forward-looking taxation policies, enacting favorable regulations, and offering incentives to the telecom industry. This forward-thinking approach will ensure Pakistan’s readiness for the 5G era.
- Local Smartphone Manufacturing and Financing: In line with our commitment to bolster local industries, we plan to incentivize the manufacturing and export of smartphones within Pakistan. Additionally, we will introduce a smartphone financing platform, making it easier for people to acquire smartphones through affordable monthly installments, thereby boosting local demand and economic growth.
We thrilled to move forward with these transformative initiatives, which not only catapult Pakistan into the digital age but also stimulate economic prosperity and innovation. Together, we will drive Pakistan’s progress and make it a prominent player in the global technology landscape.