Punjab Board of Investment & Trade (PBIT) has taken a step forward and arranged this one-day seminar with the objective to uplift the Tech Sector and promote Entrepreneurialism in Punjab. The provincial minister for industries commerce and investment Mian Muhammad Aslam Iqbal was the Chief Guest at the event who participated actively in panel discussion and took great interest in startups being displayed at the occasion. Ms. Ann Mason, Political & Economic Section Chief, US Consulate Lahore, Chairman Board of Investment & Trade Sardar Tanvir Ilyas Khan, Chief Executive Officer PBIT Jahanzeb Burana and distinguished Tech and IT companies and incubation centers of Punjab were also present at the event.
The speakers and panelists highlighted the potential of Tech and IT industry of Pakistan and threw light on its vital role in the development of any economy. Tech and IT sector has been instrumental in uplifting the economies of Japan, Korea, Thailand, China and Taiwan. The spill-over effects of their ever-progressing IT and Tech sector were transmitted to other sectors of these countries and nurtured their economies further. The panelists also discussed in detail the issues hampering the growth of IT and Tech sector. Among other concerns, the most important were regulatory framework, difficulty in setting up investment funds, infrastructure related issues and problems due to discount seeking market.
Talking at the occasion, provincial minister Mian Muhammad Aslam Iqbal assured his full support in resolving the issues of IT and Tech sector. He appreciated the efforts of Punjab Board of Investment & Trade to initiate the policy dialogue. He said that the current government realizes the importance of tech industry and entrepreneurialism and is therefore taking initiatives to bring in regulatory and policy reforms for building up confidence of local and global investors. He praised the efforts of various incubation centers of Punjab which are working tirelessly within their minimum.
Minister for Industries, Commerce & Investment Mian Aslam Iqbal informed the forum that the current Government is going to launch a youth business loan scheme in the first week of April under which skilled youth would be given short-term loans to start their own business. The maximum limit of such loans would be thirty lacs. Young skilled women would be given preference and procedure to get loans would be made easy for them.
Ms. Ann Mason appreciated the efforts of Punjab Government for improving the investment climate of Punjab. Sardar Tanveer Ilyas Khan, Chairman Punjab Board of Investment & Trade thanked the Chief Minister Punjab and other guests for actively participated in the seminar. He assured that PBIT would not leave any stone unturned in making Punjab a suitable investment destination for local and foreign investors.