Pakistan Software Houses Association (P@SHA) Chairman Muhammad Zohaib Khan has said that Pakistan is unlikely to achieve IT exports of $15 billion in the next 5 years as one of the key demands of a tax holiday for a period of 10 years of the industry was not met.
Khan said that while the IT industry acknowledges the fact that the industry has been prioritized in the federal budget 2023-24, these measures may prove to be inconsistent, unreliable, and suffer a lack of implementation, as happened with the past many budgets and IT export promotion or incentives schemes. The real issue is the consistency of policies, which may not be achieved with the change in the government, he added.
He added that the industry unequivocally and vociferously demanded the government and the state institutions to provide a guarantee of 15 years that the policies will not change, only then we can make strategic investments, attract foreign direct investment (FDI), and establish joint ventures with the multinationals.
Khan said that super tax has been withdrawn for the export-oriented companies, but companies are still sent notices, they are harassed and their bank accounts are held.
The P@SHA chairman appreciated the introduction of the scheme for skills development of 50,000 IT graduates in the budget. This can be a game-changer if implemented across Pakistan equitably and productively, he added.
