Govt Mulls Alternative Scheme to Cash Rewards for IT Companies
The government is considering introducing an alternative scheme to cash rewards for IT companies against their exports.
Initial Meeting
Minister of State for IT and Telecommunication Shaza Fatima Khawaja chaired the first meeting of the Functional Committee on Information Technology and Telecommunication. The meeting saw participation from several key figures, including Member IT Syed Junaid Imam, Member Telecom Muhammad Jahanzeb Rahim, and authorities from the Finance Division, Ministry of Commerce, State Bank of Pakistan, Pakistan Software Houses Association (P@SHA), and Pakistan Telecommunication Authority (PTA).
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Briefing on Cash Reward Scheme
P@SHA Secretary General Nadeem Malik briefed the chair about the cash reward scheme for the IT industry. The current scheme offers cash incentives to IT exporters, which has played a significant role in boosting the sector’s growth.
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Deliberations on an Alternative Scheme
The meeting deliberated on bringing an alternative scheme to cash rewards for IT exporters. Various proposals were discussed to ensure the sustainability and efficiency of the support provided to the IT sector.
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Formation of a Committee
A committee has been formed to further deliberate on the matter. The committee members include Member IT Syed Junaid Imam, P@SHA Secretary General Nadeem Malik, and a representative from the State Bank of Pakistan. This committee will explore different models and frameworks to replace the cash reward scheme with a more effective alternative.
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Looking Ahead
The alternative scheme aims to provide a structured and efficient way to incentivize IT companies, ensuring long-term growth and development. The government’s proactive approach reflects its commitment to fostering a robust IT sector, which is crucial for the country’s economic development.
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FAQs
What is the current cash reward scheme for IT companies? The current cash reward scheme offers financial incentives to IT exporters to promote growth in the sector.
Who are the members of the newly formed committee? The committee includes Member IT Syed Junaid Imam, P@SHA Secretary General Nadeem Malik, and a representative from the State Bank of Pakistan.
What is the goal of the alternative scheme? The goal is to replace the cash reward scheme with a more effective and sustainable model to support IT companies.
Why is the government focusing on the IT sector? The IT sector is crucial for economic development, providing significant employment opportunities and contributing to national growth.
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