The Government of Pakistan Announces Historic Incentives For IT Sector

March 01, 2022

The Government of Pakistan has approved a lucrative package for IT companies, freelancers and start-ups. The long outstanding issue of easy transactions of Foreign Currency has also been addressed as Specialized Foreign Currency Accounts for IT Companies and Freelancers will be introduced to meet their operational needs.

Additionally, the government has allowed IT Companies and Freelancers to retain 100% of the remitted amount received through proper banking channels, without any compulsion to convert them into PKR.

Recommendations of the Pakistan Technology Startup Fund for the creation of a public-private partnership venture capital fund have also been approved.