Information technology companies are shifting from Sindh to other provinces owing to high tax rates in the province.
This was revealed by the Federal Secretary for the Ministry of Information Technology and Telecommunication Shoaib Ahmad Siddiqui.
He was briefing the Senate Standing Committee on Information Technology and Telecommunication which met with Rubina Khalid in the chair.
Secretary said that MoITT has submitted proposals to PM Office for resolving issues related to double taxation of IT companies. This initiative will help remove impediments in domestic IT business growth as well, he added.
He said that the Prime Minister has chaired a high-level meeting regarding the promotion and growth of the IT/Telecom sector and resultantly some decisions/directions are currently being implemented. He said that State Bank of Pakistan (SBP) was directed to increase the limit for remittances for freelancers to $25000. Further, SBP has agreed to facilitate bank account opening for freelancers and ensure all kinds of support in this regard.
Siddiqui further said that a summary to Prime Minister is under process to encourage Pakistani products and to give preference to Pakistani software products by all ministries/divisions which would help in the growth of domestic IT business.
Special Technology Zones will be developed in the country to promote IT/ITeS growth. In this regard, PSDP’s proposal of Rs. 6.5 billion has been submitted to the Planning Commission by MoITT.