Caretaker Minister for Information Technology and Telecommunications (MoITT) Dr. Umar Saif recently distributed an impressive sum of Rs. 825 million in cash prizes to various IT companies, highlighting the pivotal role of the IT industry in bolstering Pakistan’s economy. The distribution ceremony, organized by the Pakistan Software Export Board (PSEB) in Lahore, was attended by dignitaries including Additional Secretary IT & CEO PSEB Ayesha Humaira Moriani and other officials.
Dr. Saif underscored the significance of incentivizing and rewarding IT companies for their contributions to IT and IT-enabled services exports, aiming to propel the country towards achieving the ambitious $10 billion IT export target. The timely decisions by the Special Investment Facilitation Council (SIFC) played a crucial role in driving a commendable 32% increase in IT exports, reflecting the government’s commitment to fostering growth in the sector.
Cash prizes were allocated to 550 companies that demonstrated positive growth in IT exports, with six categories established to accommodate various ranks of companies. Furthermore, an allocation of Rs. 175 million was dedicated to companies actively engaging in the employment of trained IT-skilled individuals, with a particular focus on innovative initiatives like the Industry Co-Opt Program.
This program seeks to provide valuable apprenticeship opportunities to IT students, aiming to place interns in IT & ITeS exporters and highlight the capabilities of IT-skilled youths while meeting industry demands. Chairman P@SHA lauded the government’s decision to reward IT companies and freelancers, emphasizing that such initiatives foster healthy competition and ultimately lead to increased IT exports.