IT Minister lauds FBR’s initiative of adopting definition of IT/ITES sector

ISLAMABAD (PRESS RELEASE)

Federal Minister for IT and Telecommunication Syed Amin Ul Haque has appreciated Federal Board of Revenue’s recent initiative of adopting definition of IT/ITES Sector as defining the scope for an IT Company or ITES Company in tax regime was need of the hour.

This positive news has a great value for Sector which has posted 40% growth rate in IT Exports Remittances during July-December for current Financial Year amounting USD 958 million, in comparison to remittances of USD 684 million posted for first half of last financial year.

Ministry of IT & Telecommunication has been raising this concern with FBR in the past, and inclusion of subject definition is a welcoming step for the sector. In these difficult economic times when whole globe is facing crisis due to COVID-19’s unprecedented impact on global economics, Pakistan’s IT growth is on positive trajectory surpassing every traditional sector’s growth figures contributing immensely in bringing Pakistan on the growth path.

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