Connect with us

Business

Pakistan experiences substantial expansion in the information technology sector.

Published

8 months ago

on

Pakistan experienced significant development in the exports of its IT sector, reaching a total of $2.283 billion, as stated in a recent Economic Survey Report.

The increase in exports emphasized the rising global demand for IT services from Pakistan and the sector’s impact on the national economy.

The survey demonstrated that IT freelancers contributed $35 million in remittances, highlighting their significance in the IT industry.

The study data indicates a significant rise in the number of broadband and telecom customers nationwide, with broadband users reaching 135 million and telecom users growing to 194 million.

Earlier this week, the federal government has suggested a substantial 357 percent rise in the budget for the IT sector for the fiscal year 2024-25.

As to reliable sources, the Ministry of IT has been granted a budget of Rs 27.43 billion in the development budget, out of which Rs 6.28 billion has been allotted for the implementation of 15 new projects.

The government has additionally suggested allotting Rs 21.15 billion for projects that are currently in progress, as well as Rs 3.5 billion for the Digital Economy initiative.

Additional noteworthy allocations consist of Rs 1 billion for fostering innovation in the IT sector, Rs 50 million for the digitalization of the national assembly, and Rs 300 million for the implementation of smart office projects in government ministries.

The government has additionally suggested investing Rs 9.92 billion for the Islamabad Technology Development Park and Rs 6.78 billion for the creation of an IT park in Karachi. The budget additionally comprises a proposition for an allocation of Rs 1 billion for the Cybersecurity Fund for the Digital Pakistan initiative.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Revolution in Pakistan’s Livestock Industry: Fongrow Farms’ IVF Training Is Led by Brazilian Experts

Published

1 day ago

on

By

With the help of SIFC, Fongrow is implementing a new project at its Livestock Farms in Khanewal that is significantly boosting Pakistan’s economy and food security.

The business has started an advanced training course on reproductive technology, with an emphasis on IVF, embryo transfer, and ovum pickup. Brazilian professionals are among the international experts leading this three-week training.

Through the introduction of innovative procedures that will improve livestock reproduction, raise the production of milk and meat, and ultimately improve the nation’s food security, the program is anticipated to transform the livestock sector.

More calves can be raised with the use of IVF and ovum pickup techniques, increasing livestock yield overall.

To give Pakistani veterinary experts and embryologists the most up-to-date information on animal breeding, the training program offers them contemporary learning possibilities.

With SIFC’s help, Fongrow is spearheading agricultural innovation, advancing Pakistan’s food security and sustainable farming practices.

Continue Reading

Business

The price of petrol in Pakistan may experience an increase starting February 1, 2025.

Published

1 day ago

on

By

The government led by Prime Minister Shehbaz Sharif is anticipated to increase fuel and diesel prices starting February 1, 2025, further impacting inflation-affected citizens.

The increase in crude oil prices has raised apprehensions over more escalations in the prices of petroleum products domestically.

Sources indicate that petrol prices may increase by Rs3 per litre, while high-speed diesel (HSD) is anticipated to rise by Rs6 per litre in the forthcoming fortnightly review.

The Oil and Gas Regulatory Authority (Ogra) will submit a summary to the relevant ministry, recommending adjustments based on international oil price trends and exchange rate fluctuations.

A conclusive decision will be rendered following discussions between Finance Minister Muhammad Aurangzeb and Prime Minister Shehbaz Sharif, with an official statement anticipated on January 31.

In the previous review, the government had increased petrol prices by Rs3.47 per litre, bringing the new rate to Rs256.13 per litre. The price of HSD increased by Rs2.61 per litre, establishing the new rate at Rs260.95 per litre.

Continue Reading

Business

Pakistan’s gold price has skyrocketed.

Published

2 days ago

on

By

On Wednesday, Pakistan’s gold price skyrocketed, mirroring worldwide market movements.

The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) released data showing that the price of 24-karat gold per tola increased by Rs2,300 in the local market, reaching its highest level ever at Rs288,700.

The price of 10 grams of 24-karat gold also went up by Rs1,972, to Rs247,513.

On Wednesday, the price of gold increased by $22 on the global market as well, reaching $2,763 per ounce with a $20 premium.

Silver prices in the local market increased by Rs28 to Rs3,391 per tola.

Continue Reading

Trending