STZA to establish five technology zones in different cities: Chairman

APP

Chairman Special Technology Zones Authority (STZA) Amer Hashmi on Wednesday said work had been started to establish five technology zones in different cities including Islamabad, Lahore and Haripur to facilitate IT companies.

Briefing media persons here, he said, the Special Technology Zones Authority came into existence in October 2021 under the Act of Parliament and was being operated under the Cabinet Division.

He said to facilitate the technology companies; the authority would provide a one-window facility.  The chairman said technology companies were being given tax exemption besides the introduction of a 10-year tax rebate for them.  He said consultation with the provinces was underway for more tax exemptions.

Amer Hashmi said consultation and deliberation were also in place to bring the world’s largest IT companies to Pakistan.”  The Chairman said the state land that was not in any use for the last many years had been given to the companies on lease to encourage them. 

He said that Samsung had launched mobile phones in Pakistan and after the arrival of the mobiles, the country had saved millions of rupees.” 

The chairman said with the establishment of 60 parks in one year, the country could generate about $5 billion in revenue in two to three years.  He was of the view that more tax exemptions would be given in the upcoming budget to technology companies.