However, various policy and regulatory barriers are hindering the growth of IT sector. In several ways, the State Bank of Pakistan’s (SBP) regulatory policies are one of the biggest hurdles to the growth of IT sector. Second, foreign exchange control mechanisms do not allow free movement of foreign exchange for IT sector firms and freelancers. This means that Pakistan is losing out on this huge potential due to stringent foreign exchange policies. Thus, disallowing an IT firm to operate in F6 sector of Islamabad or in Hayatabad, Peshawar or DHA, Karachi makes little sense and hinders economic growth.

Source: The Express Tribune October 05, 2020 03:11 UTC