With technology being the sole contributor to the country’s advancement, the government is aiming to improve the IT industry by establishing tech zones across the country. In fact, by January 2021, the government had approved the transfer of 150 acres of land to the Special Technology Zone Authority (STZA) in order to introduce a special zone primarily focused on technological advancements.
Moreover, it is expected that the country will have more than one zone by next year. In addition, there is a 10-year waiver on corporate tax and imports of any equipment or building that is required for the tech zones as this will give Pakistan’s IT industry a certain push.
These tech zones will then result in more job opportunities for young people especially those who are hyper-focused in numerous technology areas. Moreover, STZA Chairman Amer Hashmi mentioned his own entrepreneurial experience and stated that the South Asian nation lacked a proper tech ecosystem.
However, it is to be noted that this isn’t the first time that Pakistan has tried to expand itself with respect to technology as in 2006 the country had planned to spend $1 billion in order to introduce software parks but the effort was wasted. This time is completely different as the government will be attracting global investment to ensure the tech zones project does not go in vain.