Steps being taken to attract investment for start-ups: Umar

By Mehtab Haider
September 22, 2023

ISLAMABAD: Caretaker Minister for Information Technology and Telecommunications Dr. Umar Saif Thursday said steps were being taken to attract global investors for the proposed venture capital for start-ups and in this regard, he will also visit Saudi Arabia soon.


Chairing the 58th meeting of PSEB here, he said the government was going to set up 5,000 joint e-working centers for freelancers.

Dr. Umar Saif said interest-free loans would be given to establish joint e-working centers and to facilitate freelancers, resulting in millions of employment opportunities in the country.

He said there was a positive discussion with the Caretaker Finance Minister Dr. Shamshad Akhtar on a 5-point agenda related to the IT sector.

“The issue of dollar retention to the IT industry has been discussed in detail and I will give good news in this regard soon. This move will not only transfer overseas IT accounts to Pakistan and restore the investor confidence, but also accelerate the flow of dollars in the country and increase the volume of IT exports immediately,” he said.

Furthermore, Dr. Umar Saif said the Pakistan Software Export Board (PSEB) should redefine its role to assist the IT companies in getting international clients and business and to brand Pakistan in the global market.

“Pakistan has a unique position in terms of its IT professionals and time zone. It is very important to introduce its IT/ITeS products to the world in the required manners. The PSEB must collaborate with Pakistan’s trade and commerce missions in Pakistani embassies world over to help grow the export of Pakistani IT companies,” he added.

Dr. Umar Saif directed the PSEB to expedite all necessary steps for the training of 200,000 IT professionals to add $5 billion in IT export. The meeting also discussed matters related to the IT industry & increasing investment in the country.