The Caretaker Federal Minister for IT and Telecom, Dr. Umar Saif, announced the government’s plan to set up 5,000 e-working hubs across the country and provide interest-free loans to freelancers for establishing these facilities. This revelation came during a meeting with Finance Minister Dr. Shamshad Akhtar, where various initiatives were discussed to boost Pakistan’s IT and startup ecosystem.
One significant focus was on establishing a state-backed joint venture fund, aiming to attract greater global investor engagement in Pakistan’s startup scene. Dr. Saif emphasized that these 5,000 e-working centers would serve as hubs for freelancers, offering them interest-free loans and support in establishing these centers, along with necessary amenities. He highlighted the potential to create millions of employment opportunities through this initiative.
Furthermore, there were discussions about potentially allowing the unrestricted use of US Dollars in this space. Dr. Saif explained that this move could enhance investor confidence, leading to the transfer of accounts from foreign countries to Pakistan, ultimately accelerating the flow of dollars and boosting IT exports.
Dr. Saif reaffirmed the government’s dedication to encouraging both local and foreign investment in Pakistan’s growing IT sector and mentioned plans to explore IT investment opportunities in Saudi Arabia soon.