Caretaker Minister for Information Technology and Telecommunications, Dr. Umar Saif, distributed Rs. 825 million in cash prizes to 550 companies contributing significantly to IT and IT-enabled services exports. Dr. Saif emphasized the importance of providing incentives and rewards to the IT industry, highlighting its pivotal role in the country’s economy. He expressed optimism that achieving the $10 billion target for IT exports is feasible if the sector continues its positive performance.
The prize distribution ceremony, organized by the Pakistan Software Export Board (PSEB), saw the presence of key officials and industry leaders. Dr. Saif explained that the cash prizes aimed to encourage companies with positive growth in IT exports. The government allocated Rs. 1 billion in the annual budget for this initiative. Notably, the overall IT exports in the country increased by a record 32 percent in the last 60 days due to timely decisions of the Special Investment Facilitation Council.
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The distribution involved six categories, with the top 100 companies receiving Rs. 2.5 million, the second 100 companies Rs. 2 million, and so on. The top 10 companies were awarded cash prizes and trophies for outstanding performance. The remaining Rs. 175 million will be allocated to companies employing trained IT-skilled individuals, particularly through the Industry Co-Opt Program, designed in collaboration with HEC and P@SHA. This program aims to provide apprenticeship opportunities to IT students, contributing to the industry’s growth.
Chairman P@SHA lauded the decision to provide cash rewards and awards, considering it a positive step that boosts the confidence of IT companies and freelancers.