$500m foreign investment likely in information technology -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

$500m foreign investment likely in information technology

ISLAMABAD- The government anticipates foreign investment to the tune of about $500 million in the information technology alone in the financial year starting from July 1, 2001 as investment in the sub-sector during this year was $146 million.

According to Minister for Science and Technology Attaur-Rehman, the information technology has become the most dynamic sector of Pakistan’s economy and it is expected to fetch US$ 400 to 500 million investment in the coming financial year.

He was of the view that investment friendly and IT focused policies of the government have managed to attract a sizeable amount of foreign direct investment in the outgoing financial year which he believes would go many fold in the next year. “Investor-friendly policies of the present government have brought in an investment of US$146 million during the last year,” he said.

He was speaking at the inauguration of a seminar here on Wireless Application Protocol organized by Information Technologies Pakistan.

He disclosed at the seminar that in next two days there will be a three fold increase in the total volume of bandwidth available in the country. The bandwidth will increase from 80 Mbite to 235 mega bits per second, he added.

He also informed the Seminar that the government has launched a Legal Transcription training Programme on the line of Medical Transcription Programme. As many as 60 master level trainers would have training from foreign experts under the programme in the first place, he added.

The minister has asked the private sector to come up with proposals promote the WAP where electronic connectivity is no longer dependant on the telephonic services.

Source: The Nation
Date:6/15/2001