The Ministry of Information Technology and Telecommunication is pushing for the allocation of funds and the establishment of a robust mechanism for the distribution of IT cash rewards, urging the Ministry of Finance and the State Bank of Pakistan (SBP) to take action.
In letters addressed to both entities, the IT ministry seeks to revive the IT cash reward program, which has been suspended since 2021 due to budgetary constraints.
With the Ministry of Finance committing to release the necessary funds and the central bank tasked with compiling a list of top IT services export companies, the groundwork is laid for approximately 400 to 500 deserving companies to be acknowledged and rewarded for their outstanding contributions.
This move comes amidst a notable 17 percent surge in IT exports recorded in December 2023, highlighting the sector’s resilience and potential for driving economic growth. The initiative aims to incentivize further growth and innovation within the IT sector.
