The government has proposed more than Rs79 billion investment in the IT sector as part of its Rs18.87 trillion budget to boost growth of IT sector and digital transformation in the country.
This allocation underscores the government’s commitment to leveraging the IT sector’s potential for high returns and sustainable growth through targeted investments. Out of the Rs79 billion, Finance Minister Muhammad Aurangzeb disclosed investment worth Rs49 billion planned for various projects and initiatives.
In his speech today, the finance minister highlighted the establishment of a National Digital Commission and a Digital Pakistan Authority, backed by a Rs1 billion investment. These institutions will drive the digital transformation agenda of the government, aiming to enhance efficiency and innovation across various sectors.
Key projects that the government has proposed to fund in the budget include Rs8 billion for an IT Park in Karachi and Rs11 billion for development of technology park in Islamabad. The establishment of IT Parks underscores the government’s focus on creating dedicated hubs with advanced facilities for startups and tech companies alike, which can attract domestic as well as international firms. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
