The Caretaker Federal Minister for Information Technology and Telecommunications, Dr. Umar Saif, highlighted the positive impact of the Special Investment Facilitation Council (SIFC) on foreign direct investment (FDI) and the country’s development.
During a Town Hall meeting at the Pakistan Software Houses Association (P@SHA) office, Dr. Saif stated that the SIFC forum will support the upcoming elected government in continuing the country’s progress. Key achievements during the caretaker period include an increase in IT exports, facilitated by a policy intervention allowing IT companies to retain 50% of their export revenue in dollars.
Other initiatives mentioned by Dr. Saif include the establishment of the Telecom Tribunal to handle telecom sector disputes, advancements in satellite communication technology, and plans for launching 5G services in Pakistan by July-August.
Additionally, the government is working on projects such as the “Smartphone for All” initiative, supporting mobile phone manufacturing, and setting up e-Rozgar centers for freelancers and startups. Dr. Saif also emphasized the importance of aligning educational institutions with industry needs, introducing a research and development fund for mobile phone manufacturing, and launching the Pakistan Startup Fund to boost venture capital investment.