IT and solar sectors can significantly boost the economy

IT and solar sectors can significantly boost the economy

ISLAMABAD, JAN 21 /DNA/ – Iftikhar Khan, the advisor to the president of FPCCI, stated on Sunday that the IT and solar sectors are both promising and ought to be encouraged.

He said that these industries can boost the struggling economy by pushing IT exports to $25 billion and lowering the cost of oil imports.

In a statement released today, Iftikhar Khan advocated for a preferred resolution of the issues facing the IT and solar industries, as well as a reduction in the tax burden on these two significant sectors to enable them to operate at full potential.

Because of the intimate connection between the internet and national development, he said, taxes on the internet and telecom sector should be lowered as well.

The business leader said that India and Pakistan both achieved independence at the same time; however, while Indian IT exports are valued at 194 billion dollars, Pakistani IT exports are valued at less than two billion dollars, even though Pakistanis have greater qualifications than Indians.

Iftikhar Khan stated that whereas India’s economy has grown to over 3750 billion dollars, ours is at 375 billion dollars, is rapidly contracting because of several problems.

India trades with dozens of countries in its own currency but Pakistan is unable to find a global recognition to its currency.

He emphasised that we won’t need to continuously plead with the IMF and friendly nations for a few billion dollars if the correct policies are implemented.

He went on to say that because we have always disregarded the demands of the modern world, many industries, including IT, solar, and wind power, have not been able to grow quickly, and everyone is trying their luck in real estate.