Information Technology Minister Allocates Rs. 825 Million in Cash Awards to 550 IT Firms

Caretaker Minister for Information Technology and Telecommunications, Dr. Umar Saif, distributed Rs. 825 million in cash prizes to 550 IT companies for their significant contributions to IT and IT-enabled services exports. Dr. Saif emphasized the importance of the IT industry in the country’s economy and highlighted the need for incentives and rewards.

 

The cash prizes were distributed based on positive growth in IT exports, with six categories ranging from Rs. 2.5 million for the top 100 companies to Rs. 500,000 for the last category of 50 companies. The top 10 companies received additional trophies for outstanding performance.

 

Dr. Saif mentioned that the remaining Rs. 175 million will be allocated to companies employing trained IT-skilled individuals, focusing on the Industry Co-Opt Program. This program, developed in collaboration with HEC and P@SHA, aims to provide apprenticeship opportunities to IT students, with participating exporters receiving Rs. 50,000 per intern.

 

The Industry Co-Opt Program is designed to showcase the capabilities of IT-skilled youth, address industry needs, and boost the country’s IT exports through healthy competition among companies. Chairman P@SHA commended the decision to provide cash rewards and awards, stating that it encourages and instills confidence in IT companies and freelancers.

 

In addition to the cash prizes, the program aims to support the Co-Opt program, facilitating internships for IT students and further contributing to the growth of the IT sector in Pakistan.