TEXT: We are living in the “world of information” and IT has become a part of our daily lives. Businesses around the globe are capitalizing on opportunities emerging from digitization, such as supply chain efficiency, enhanced production quality and lower transaction costs. Pakistan has already shown good performance in this sector but it has yet to cover a lot of distance for reaping the full benefits of information technology.

We really appreciate the Government for announcing remarkable incentives for IT sector. The announcement of a zero tax rate for IT companies/freelancers, no restrictions on foreign exchange movement of IT companies and exemption from capital gains tax for IT start-ups would prove to be instrumental in enhancing the export competitiveness of IT sector in Pakistan.

The initiative of Lahore Chamber in the form of holding 2nd Edition of LCCI IT Awards will greatly serve to the purpose behind Information Technology.

Copyright Business Recorder, 2022