Federal Budget 2024-25 proposes over 350% increase for IT and Telecom sector development
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The federal budget for the fiscal year 2024-25 includes a proposal to increase the development budget for the IT and telecommunication sector by more than 350%, sources reveal.
According to the 24NewsHD TV channel, the proposed budget allocation for this sector is Rs27.435 billion, a significant rise from the Rs6 billion allocated in the current financial year.
Key allocations in the proposed budget include:
Rs21.15 billion for 15 ongoing IT projects.
Rs6.285 billion for 15 new IT projects.
Rs9.925 billion for the technology park development project.
Rs6.79 billion for establishing an IT park in Karachi.
Rs3.50 billion for the digital economy project.
Rs1 billion for the cyber security for the digital Pakistan project.
Rs300 million for the smart office project of federal ministries and departments.
The substantial increase reflects the government's commitment to advancing the IT and telecom sector, aiming to boost the digital economy and enhance cyber security measures.
Reporter: Waqas Azeem