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Government to set up system to keep dollars in Pakistan for IT companies: IT minister

Acting Federal Minister for Information Technology and Telecommunication Dr Umar Saif said the government plans to put in place a mechanism to retain dollars in the country as many IT companies are parking dollars outside the country.

Talking to reporters, the minister said that Pakistan’s official IT exports amount to $2.6 billion, while the total size of the country’s IT industry is more than $4 billion. He said IT companies have a lot of money parked outside and the government plans to stop the flow of dollars abroad, adding that in the coming days the government will finalize a mechanism to retain dollars.

The minister also questioned the spectrum auction in the country and said that no proper spectrum auction had been held in the last ten years. He added that a telecom court will be created in the telecom sector.

He said that the government is going to launch an interest-free loan scheme to facilitate the self-employed. He further said that the government will create a fund for startups with the support of international companies. The government will allocate Rs. 3 billion for this fund.

Dr Saif said the infrastructure sharing policy will be presented in the next cabinet meeting. He noted that the National Roaming Infrastructure has been enabled and in two months National Roaming will begin on national highways. On national highways, users will have the freedom to use different mobile networks, the IT minister said.

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