Caretaker Federal Minister for IT and Telecom, Dr. Umar Saif, has unveiled an ambitious target of reaching $5 billion in IT exports over the next five years. In a recent announcement, he introduced a 3% research and development (R&D) incentive aimed at fostering the local handset manufacturing industry. This incentive aims to stimulate the production of high-end smartphones within Pakistan.
Dr. Saif underscored the pivotal role of the telecom sector in driving Pakistan’s economic growth. He emphasized the ongoing efforts to boost the export of locally manufactured smartphones, highlighting a substantial 32% increase in IT exports over the past two months.
With licenses granted to 35 companies engaged in smartphone assembly for various brands, plans are in motion to formulate a comprehensive policy for manufacturing complete mobile phones. The strategy involves initiating local production for some phone components.
PTA Chairman, Major General (retd) Hafeezur Rehman, expressed unwavering support for the telecom industry. He delved into ongoing initiatives to facilitate the export of mobile phones manufactured in Pakistan. Additionally, he revealed the formation of an advisory committee dedicated to the launch of 5G technology in the country.
