Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has said that the government has allocated Rs 1 billion in the Federal Budget 2024-25 for establishing the National Digital Commission (NDC) and the Digital Pakistan Authority (DPA) In his budget speech in the National Assembly on Wednesday, he said that the objective of this initiative was to promote digital transformation, innovations and digital solutions in various departments. Senator Muhammad Aurangzeb said that the government had a full focus on promoting the Information Technology sector as with targeted investment it had the potential to yield significant profits in a short time. He projected that with the talented Pakistani youth and the government’s IT-friendly policies, Pakistan’s IT exports would reach $3.5 billion.

The Finance Minister said Rs 79 billion had been allocated for the Information Technology sector in the budget. He said out of the total IT sector allocation, Rs 7 billion was specified for digitalization and reforms in the Federal Board of Revenue. Modern IT systems would be installed at the FBR to expand the tax net base and remove loopholes in the tax collection system. Muhammad Aurangzeb said Rs 11 billion had been earmarked for the Technology Park Development Project in Islamabad. He said an allocation of Rs 2 billion was proposed for the Pakistan Software Export Board (PSEB), which would be used to encourage the IT sector exporters and support the IT firms providing internships to students. Furthermore, the finance minister said, Rs 20 billion had been proposed for the Digital Infrastructure Information.

Credit: Independent News Pakistan