Pakistan Aims to Double IT Industry in Two Years With Tech Zones
- New tech zones may double IT industry to $6 billion in 2 years
- Pakistan has huge youth population, world’s No. 3 gig economy
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Pakistan is looking to double its IT industry in two years by setting up dedicated tech zones across the country, after missing out on tech booms that helped nations like India and Philippines become back-end operators for the world.
The world’s fifth most populous nation expects to open a dozen such zones by next year, said Amer Hashmi, who heads the government body responsible for developing science and technology zones. It’s offering a 10-year waiver on corporate tax and imports of any equipment or building material needed for the areas, which will give Pakistan’s IT industry a “catapult push” that could double its size to as much as $6 billion in two years, he added.