CEO PBIT promotes establishment of IT Parks as SEZs

Friday, May 13, 2016

Ms. Amena Cheema, CEO Punjab Board of Investment and Trade (PBIT) envisioned the establishment of IT Parks as Special Economic Zones to attract the influx of IT Companies, local and foreign looking to invest in Punjab. She stated that “The Punjab Board of Investment & Trade is striving to develop Special Economic Zones in Punjab where special incentives will be provided to IT enterprises. She further added that it will help to maximize the export potential of Software Industry as well as promote Import Substitution in the local market”.
Ms. Amena Cheema, CEO PBIT expressed these views during second IT Round Table Conference organized by Punjab Information Technology Board (PITB), wherein Mr. Umer  Saif, Chairman PITB hosted key stakeholders as well as government officials to discuss key issues and developments in the IT Industry.
She said, “SEZs in Pakistan offer two fold financial incentives for enterprises i.e. one time exemption from all custom-duties and taxes on plant and machinery imported into Pakistan and exemption from all taxes on income accruable in relation to the development and operation of the SEZs for a period of ten years, if production is started by June 30, 2020”.
“The special incentives as per the SEZ Act will also help attract FDI in Punjab. To meet the growth targets set by the Chief Minister Punjab, PBIT is providing full guidance and support to IT Enterprises/Groups looking to develop IT Parks as Special Economic Zones” she added.