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PostSubject: http://customstoday.com.pk/govt-urged-to-focus-on-it-industry-for-boosting-economy-exports/   Fri 03 Apr 2015, 7:53 am

ISLAMABAD: A delegation of Pakistan Computer Association (PCA) led by its Chairman Munawar Iqbal visited Islamabad Chamber of Commerce and Industry and called upon the government to focus on development of IT industry that has huge potential to stimulate economic growth and exports.
Speaking on the occasion, Munawar Iqbal said that current tax regime were not supportive for the growth of IT sector and called upon the government to reform tax policies to facilitate the realisation of full export potential of this important sector. He said the FBR should reduce high tax rates in IT sector that will help in its fast growth.
He said that as PTAís cumbersome NOC policy for wireless networking products and PC tablets should be simplified and provide equal treatment to IT sector entrepreneurs. He said the local IT vendors were totally ignored to favor an individual traders in the governmentís recent laptops schemes and government should encourage local ventures to create more jobs and increase tax revenue. He called level-playing field should be ensured for IT sector businessmen to unleash the untapped potential of this industry. He said government should establish a fund to promote R&D activities in IT sector that would boost the growth of IT industry.
In his welcome address, Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and Industry said that IT industry has played a major role in placing Pakistan on the global map and government should give high priority to this sector for development and growth. He said special subsidies and export incentives have proved instrumental in stimulating the growth of world-wide IT sector with very positive spill-over effects for the growth of rest of the economy and government should seriously consider extending similar support to IT industry in Pakistan.
He said with better focus on IT industry, India was earning foreign exchange of over USD$ 70 billion through exports of IT products while Pakistanís IT exports reach even US$1 billion and government should pay more attention to resolve problems of this industry. He said government should give more incentive to women entrepreneurs of IT sector so that maximum women could come into this field. He was of the view that if supported by the government, IT sector could emerge a major source of jobs creation and driver of economic growth in the country.
Abdul Rauf Alam, Chairman Founder Group said that IT industry has great potential in Pakistan as growth of many other sectors of economy is directly with its development. He said government should address key issues of IT industry which will help in providing jobs to educated youth and accelerate Pakistanís economy and GDP growth as well.
Miam Akram Farid Vice President FPCCI, Muhammad Ashfaq Hussain Chatha Vice President ICCI, Malik Sohail Hussain and others also spoke at the occasion and stressed upon the government to form conducive tax policies for better growth of IT industry in Pakistan.

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