Finance Minister Ishaq Dar said today that the government would provide incentives to local manufactures of smartphones and IT-related solutions during the next three years.
Chairing a meeting with a group of Chinese investors in information technology sector, the finance minister said foreign direct investment (FDI) in IT sector would enjoy special corporate tax rate for the next five years if they complete their projects in three years time period, till June 30, 2017.
Lou Peide, Secretary General of Chinese Mobile Companies Association and head of the delegation, said they are here to explore Pakistan’s domestic market which “presents a huge opportunity for manufacturing of smartphones capable of 3G/4G technology”.
He mentioned that with nearly 200 million population and high growth rate in mobile industry, there is a huge requirement for local manufacturing units in the country.
