Govt unveils over Rs79bn investment to support IT sector growth. Will it amount to anything more than irrelevant IT Parks? 

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.