By Rafiiq Vayani
KARACHI: Mian Nasser Hyatt Maggo, President FPCCI, has lauded Syed Amin Ul Haque, Federal Minister for IT & Telecom on increasing IT exports and fast spreading 4G connectivity in the country.
Mian Nasser Hyatt Maggo criticized the inclusion of IT sector in tax regime in the Federal Budget 2021-22 – whereas, it was exempted till 2025. He said that this is the only industry in Pakistan that has posted over 70% growth in exports over a period of last 2 years and if the current pace of growth continues, it has the potential to earn up to $10bn/year in precious foreign exchange reserves within a time span of 3-4 years. He said that the government should keep it tax-free till 2025 as promulgated earlier.
Mian Nasser Hyatt Maggo further said that the government issues bonds in international markets to meet its budgetary requirements at more than 7% and ignores its foreign exchange earning entrepreneurs. He said that if the government announces a mere 5% rebate to IT exporters, they can easily bring $10bn/year into the country easily. He also noted that Bangladesh provides 10% rebate in this regard.
IT Minister maintained that all major development projects under IT & Telecom Ministry are being carried out across Pakistan without any bias and in a time-bound fashion. He also informed the meeting that a cabinet meeting four weeks back was carried out in a paperless environment. Now, the ministry is aiming at conducting parliamentary sessions in a paperless environment.
Syed Junaid Imam, Member IT, said that IT industry has the potential of exponential growth if equity capital can be made available through venture capitalists. He also requested FPCCI members to invest in IT-related startups.
Muhammad Sohail Rajput, Federal Secretary, IT & Telecom ministry, said that the IT ministry is opening IT Parks and Special Zones to set up IT businesses and that will not be confined to large cities; but, smaller cities will also be incorporated.
Osman Nasir, MD PSEB, said that FBR and IT industry is not on the same page and there may be issues and bottlenecks if FBR does not accommodate peculiar needs of the country.
Zohaib Khan, Convener FPCCI’s Standing Committee on IT expressed his high hopes with inclusion of Pakistan into AMAZON’s seller list; but, warned that SMEs need to be given adequate trainings on their systems and quality standards to make full and sustainable use of the opportunity.
Shahid Ismail, Deputy Convener, FPCCI’s Standing Committee on IT, stressed the need to create a level-playing for firberzation sector and making its raw material duty-free.
Muhammad Azam Mughal, Convener, CPCCI’s Standing Committee on Cyber Crimes, highlighted the ever-increasing phenomenon of online harassment of women. He said that FIA must enhance its capacity to counter the menace.
Mian Nasser Hyatt Maggo also stressed the need to set up a cyber-security wing in order to create awareness and help the business community remain secure in an online environment. He expressed his shock over taxes and duties on spare parts of laptops being made in Pakistan; whereas, the fully assembled laptops are duty-free in Pakistan. This is a huge disparity and this will continue to keep Pakistan reliant on imported laptops forever. He demanded that IT-related hardware like laptops, smartphones, biometric machines, ATM machines, POS machines, etc. should be made in Pakistan and their parts must be taxes and duty-free.
FPCCI is grateful to Federal IT Minister for his visit and for his brief to the audience on various ongoing large-scale developmental projects in IT & Telecom industries. FPCCI also appreciates decision to declare telecom as an industry in the federal budget.
