Dollar Retention Accounts being introduced to facilitate IT companies: Dr Umar Saif

Islamabad: Caretaker Minister for Information Technology and Telecommunication Dr Umar Saif says Dollar Retention Accounts are being introduced with the collaboration of State Bank of Pakistan to facilitate IT companies.

Talking to media in Islamabad on Thursday, he said it will not only enable the IT companies to retain fifty percent dollars coming from abroad but they will be free to invest any amount of their choice.

He expressed the confidence to increase IT exports of the country around eighteen billion dollars per annum.

The Minister further said government is devising E-Rozgar Program to train freelancers as country has the second largest online work force in the world.

Earlier, addressing a ceremony, he stressed the need to focus on local start-ups as eight hundred million dollars were invested in Pakistan based new ventures during the last three years.