Islamabad October 4 2022: Pakistani IT freelancers have about three to four billion dollars parked outside and freelancers are shying away from bringing money into the country due to high taxes says Senator Shaukat Fayyaz Ahmed Tareen.
He disclosed this at the meeting of the Senate Standing Committee on Commerce, which was held yesterday at the Parliament House under the chairmanship of Senator Zeeshan Khanzada.
He further said that to encourage the IT sector, they should be given tax exemption for ten years and they should also be allowed to open hundred percent foriegn currency accounts. Deputy Chairman Senate Mirza Muhammad Afridi said that for the development of Pakistan’s IT export, it is necessary to bring payment gateways like PayPal. Officials said talks were held with international payment gateways PayPal and others. We are trying to start this service in Pakistan as soon as possible. Payments are currently made through a payment gateway linked to PayPal on Amazon. Senator Abdul Qadir said that e-commerce can be used to reduce the role of middlemen in the agricultural sector. This will give better price to our farmers and also make affordable commodities available to people.
The meeting of the Senate Standing Committee on Commerce was held today at the Parliament House under the chairmanship of Senator Zeeshan Khanzada.
A comprehensive briefing was given to the Committee on the composition, functioning and performance of the Sectoral Councils as well as the details of the members of the Sectoral Councils by the officials of the concerned Ministry. The committee was informed that the sectoral councils consist of representatives of the private sector, government sector and trade associations and efforts have been made to make all relevant manufacturers and stakeholders part of the councils. Officials further said that the purpose of forming the councils is to establish an atmosphere of trust between the government and the industry regarding policies so that business conditions in the country can be improved. Ten sectoral councils have been established so far and three more are in progress. All the councils will play an advisory role as well as suggest new initiatives for the betterment of the industry. The chairman committee said that a sector-specific strategy should be adopted in consultation with the private sector while ensuring the representation of all provinces in these councils.
Senator Shaukat Fayaz Ahmed Tareen said that the banks should be directed to provide loans to the business community of the smaller provinces. The matter should be taken up with the State Bank and the Ministry of Finance.
The committee members were given a detailed presentation on the potential and performance of the IT industry and e-commerce sector. Officials told the committee that the National E-Commerce Council has been established for the development of e-commerce in the country. Pakistan is currently the 37th largest e-commerce market in the world and is growing rapidly. The committee members said that quality control is very important for the development of e-commerce so that this sector gains the trust of the people.
