Pakistans IT potential
December 21st, 2014 | Technology Times | No Comments
Strategically-located in South Asia, Pakistan is at the crossroads between East and West Asia. Pakistans geographical location, a rapidly expanding transportation and communications infrastructure, and conducive business environment make it an investor-friendly destination.
The Government of Pakistan has provided a reliable IT infrastructure and its package of incentives have been instrumental in the IT industrys development. As a result, an increasing number of foreign IT companies have chosen Pakistan for their outsourcing operations.
These incentives include:
• Provision of low-rent Software Technology Parks (STPs), with fiber-optic connectivity, libraries and conference rooms.
• 100% ownership of equity allowed to investing foreign IT/ITeS companies.
• Income Tax exemption for IT companies till 2016.
• 100% repatriation of profits allowed to IT companies.
• Seven years tax holiday for venture capital funds.
• Minimum rate of 30% depreciation on computer equipment.
• The State Bank of Pakistan (SBP) has allowed banks to open Internet Merchant Accounts.
• Availability of instant, reliable and high-speed connectivity.
• Over 85% of telecommunication infrastructure is on fiber-optic cables.
• Internet access is available in over 2000 cities/towns across Pakistan.
Published in: Volume 05 Issue 48
Short Link: http://www.technologytimes.pk/?p=12535