Dr. Umar Saif, the caretaker minister for Information Technology and Telecommunications (MoITT), distributed Rs. 825 million as cash prizes to companies making significant contributions to IT and IT-enabled services exports.
The Government Empowering IT Sector
Addressing a prize distribution ceremony organized by the Pakistan Software Export Board (PSEB), Dr. Saif emphasized the pivotal role of the IT industry in the country’s economy.
He highlighted the importance of providing maximum incentives, facilities, and rewards to IT companies, acknowledging their contribution to strengthening Pakistan’s economy through substantial foreign exchange earnings.
Boosting Exports and Growth
Dr. Saif lauded the performance of the IT sector, expressing optimism that Pakistan’s target of $10 billion for IT exports could soon be achieved if the current momentum continues.
He attributed the impressive 32 percent increase in IT exports in the last 60 days to timely decisions by the Special Investment Facilitation Council (SIFC) based on Ministry of IT recommendations.
The distribution of cash prizes totaling Rs. 825 million to 550 companies with positive growth underscores the government’s commitment to rewarding excellence in the IT sector.
The awards were distributed across six categories, with the top-performing companies receiving significant cash prizes and trophies for their outstanding achievements.
Additionally, the government plans to allocate Rs. 175 million to companies employing trained IT-skilled individuals, further fostering growth and innovation in the industry.
Fostering Innovation and Collaboration
Furthermore, innovative programs like the Industry Co-Opt Program, developed in collaboration with HEC and P@SHA, aim to provide apprenticeship opportunities to IT students, nurturing a skilled workforce and promoting collaboration between academia and industry.
Such initiatives are instrumental in driving the continued growth and success of Pakistan’s IT sector, positioning it as a key player in the global digital landscape.