Caretaker Minister for Information Technology and Telecommunications (MoITT) Dr Umar Saif distributed Rs. 825 million as a cash prize to the companies playing a significant role in IT and IT-enabled services exports.
The minister said that the IT industry, which plays a pivotal role in the country’s economy, deserves maximum incentives, facilities, and rewards.
He said these companies are strengthening the country’s economy by earning huge foreign exchange in return for the services of digital talent of Pakistani talent worldwide. If the performance of the IT sector continues like this, it is hoped that the target of $10 billion for IT exports will be achieved soon, he added.
Dr Saif expressed these views while addressing the prize distribution ceremony organized by Pakistan Software Export Board (PSEB), an organization of the Ministry of IT and Telecommunication, in Lahore on Tuesday.
Additional Secretary IT & Chief Executive Officer PSEB Ayesha Humaira Moriani, Member IT Syed Junaid Imam, Chairman IT Association (P@SHA) Muhammad Zohaib Khan, other officials from MoITT and a large number of eminent personalities from the IT industry were present on the occasion.
Highlighting the causes behind the distribution of huge cash prizes and awards, Dr. Saif said that the IT ministry decided to encourage companies with positive growth in IT exports, for which the government had allocated Rs. 1 billion in the annual budget. He said that due to timely decisions of the Special Investment Facilitation Council (SIFC) on the recommendations of the Ministry of IT, the overall IT exports in the country have increased by a record 32 percent in the last 60 days.
In the first and second quarters of the current financial year, the performance of many companies in IT exports also showed a positive trend. In such a situation, it was decided to give cash prizes from the allocated fund to encourage companies and accelerate positive growth.
He said that Rs. 825 million has been distributed to 550 companies with positive growth.
For this purpose, six categories were made, and the first top 100 companies have been awarded Rs. 2.5 million, the second 100 companies Rs. 2 million, the third 100 companies Rs. 1.5 million, the fourth 100 companies Rs. 1.25 million, the fifth 100 companies Rs. 750 thousand and the sixth and last category 50 companies have been awarded Rs. 500,000 each. Out of these 550 companies, the top 10 companies have been awarded cash prizes as well as trophies for outstanding performance.
He said that the remaining Rs. 175 million will be given to companies employing trained IT-skilled people. For this purpose, a particularly innovative endeavor is the Industry Co-Opt Program, developed in collaboration with HEC and P@SHA. This program seeks to provide apprenticeship opportunities to IT students.
To incentivize IT & ITeS exporters to participate in and support the Co-Opt program in placing the final year students of bachelor’s degree in computer sciences and related computing technology fields as interns. An estimated 3,500 interns will be placed in the IT & ITeS exporters that will be a part of the Co-Opt program and Rs. 50,000 per intern will be paid to the participant exporters.
This process will not only highlight the capabilities of the IT-skilled youths, but the industry will also be able to get talented youths according to their need and market demand, while on the other hand, cash prizes will cause a significant increase in the country’s IT exports by creating an atmosphere of competition among IT companies.
Top 10 Winners of IT and ITES Awards 2024
- Systems Limited
- Contours Software
- Ibex
- Strategic Systems International
- 10Pearls
- tkxel
- S&P Global
- CureMD
- Confiz
- ABS Labs
Top Winners of Different Categories
- Systems Limited has been recognized as top exporter and for excellence in, BPO Services, and also for IT Consultancy Services.
- i2c Pakistan (Pvt) Ltd has been recognized Triumphed in the IT products and solutions category.
- Mindbridge (Pvt) Ltd has been awarded the platinum award for the call center Services category.
- Quixel Pakistan (Pvt) Ltd has been honored for achievements in gaming and animation.
- ABSLabs (Pvt) Ltd has been awarded for the fastest export growth.
- Ms. Fatima Asad Said, CEO of Abacus Consulting Technology Limited has been recognized as a trailblazing woman entrepreneur in the tech industry.
Speaking on the occasion, Chairman P@SHA termed the process of giving cash rewards and awards as the best step for the IT sector and said that this decision is giving encouragement and confidence to the IT companies and freelancers.
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What a shitty way of wasting people’s hard earned money. Do you really think that a sector which is bringing 3 billion dollars in the economy wants these cash prizes from the ministry. No proper policies, no proper infrastructure, no vision at all. A clear example of how nepotism and incompetence is destroying this country.
Where is the smartphone for all project? People are waiting 😟