Pakistan: The next big Asian market for tech startups?

[fitpOsitive]

Only way I see to uplift our industries is by giving subsidy on electricity for textile. As agriculture already income tax exempt as far as I know in punjab and KPK may be i m not correct.

Subsidy electricity on textile will create lots of job and also increase our exports. So we need more solar panel system or other ways to generate very cheap electricity.

My vision is to make every home on the planet energy independent.
I want a to build a material made from Petroleum, then will substitute wood for furniture and other those purposes which needs wood, hence saving our forests.
I want to make all human made Radiation insect and migratory bird safe, so that planet doesn't die.

Pakistan can be leader, the people who really can do something, are not doing anything. Paisy kamaty hain, or mulk se bhag jatay hain, ya phir paisy kamanay k liay bhag jatay hain.

@jamahir

 

[Pakistansdefender]

Never heard a positive thing about Pakistan from dw.
From those declaring that Pakistan is not respected in the west, yes it is true but this itself is a proof that things are changing in. Positive direction.

 

[zn426]

Pakistan should make certain industry tax free.

Pakistan would be best served by simply having one tax code for every single business, or better yet, one straight flat tax. It eliminates a great deal of government to do so, and simplifies changes. The current code I'm given to understand has different rate schedules and deductions for different industries, which is a very inefficient way to handle the code.

 

[Figaro]

when there are people then there are needs and someone; if not outsider then locals; will needs to fulfill those needs. Even if we assume Pakistan security situation is bad; which is bad for foreigners only; locals will tap the market. When Al Capone was killing everyone left and right in Chicago, Chicago was still developing.

But Pakistan needs foreign capital for investment though ... local investment is not nearly enough. China's rise in the 90s and early 2000s was almost entirely fueled by massive foreign investment ... compare that to India which has not received nearly as much foreign investment as China (except for IT) and thus only has an economy 1/5 size of China today. Foreign investment is super important.

Many western companies are working in tandem with local partners on software and the sector has really gone up a few notches in the past few years. Lahore is brimming with IT and game industry workforce. That said, long way to go on trust etc, though I believe it will become more transparent in the coming years with good government policy in place.

The good news is that the security situation in Pakistan is way better now compared to a couple years ago. That combined with very favorable tax incentives and less bureaucratic red tape (ahem India) could really jumpstart foreign investment in Pakistan.

 

[k s ahmed]

Bhai jee don't say without knowing or unless you are doing IT export service yourself? IT Industry export services are exempt from Income tax.

means that if i open a software house which works for a company in europe. the salaries wont be taxed or what ? how does it work ?

 

[AZ1]

means that if i open a software house which works for a company in europe. the salaries wont be taxed or what ? how does it work ?

I am no expert but please check below link for guidance
https://www.pakwheels.com/forums/t/tax-on-remittance-income/1122809/19

 

[Syed1.]

Absolutely, but for that to happen we need cheap electricity and rapid increase in internet speeds. I think I saw a report in which the average internet speed in Pakistan lags behind even other Asian countries of similar development level, European and North American countries are on a different planet with regards to internet speed.

We need clusters of technology parks where office space is subsidized and molded towards the tech industry. Need atleast 10-15 such technology parks with each employing about 5000 people for Pakistan's tech industry to really stand up and be counted.


Another idea I had is that Pakistan could position herself as the regional hub for data centers. A data center needs large amount of abundant and cheap land, a readily available source of water for heat dissipation and reliable and cheap electricity. We have vast swathes of unused land on Baluchistan's coast that see about 300+ days of bright sunshine for solar power generation. Seawater can be used for heat dissipation,.We can advertise these areas as Amazon's or Google's next data center.


Nothing will have happen till we have babus making decisions, we need more modern foreign educated youngsters to reach positions where they can take decisions.

 

[Last starfighter]

bring paypal in Pakistan! Please

I think Pakistan is trying but it's PayPal who are dragging their feet

 

[xyxmt]

But Pakistan needs foreign capital for investment though ... local investment is not nearly enough. China's rise in the 90s and early 2000s was almost entirely fueled by massive foreign investment ... compare that to India which has not received nearly as much foreign investment as China (except for IT) and thus only has an economy 1/5 size of China today. Foreign investment is super important.

yes for setting up big industres, tech does not need big investment, all it needs is the idea and human resources.

 

[Aryeih Leib]

Why PayPal??

I think Pakistan is trying but it's PayPal who are dragging their feet

 

[WebMaster]

bring paypal in Pakistan! Please

Don't need paypal. People can now use Xoom.com to transfer money with minimal rates.

 

[scionofPakwattan]

bring paypal in Pakistan! Please

not until we get off the FATF

 

[Syed1.]

bring paypal in Pakistan! Please

I think National IT Board and its CEO Shabahat Ali Shah are working on a platform in which the foreigners will use PayPal and local users will use a local service and it will be seamless integrated. He does a much better job of explaining it in this video than me:

https://twitter.com/x/status/1223660019855609857

Don't need paypal. People can now use Xoom.com to transfer money with minimal rates.

I sent my wife $2000 (in two batches because limit was $1000) through Remitly and each time the PKR equivalent was deposited in her account within 5 minutes and she got confirmation sms from her Pakistani bank. The rate I got for dollar to PKR conversion was very good too. Best part no service charge, they incorporate it in the conversion rate they give you. Much cheaper than going through bank to bank transfer and infinitely faster.

 

[WebMaster]

I think National IT Board and its CEO Shabahat Ali Shah are working on a platform in which the foreigners will use PayPal and local users will use a local service and it will be seamless integrated. He does a much better job of explaining it in this video than me:

https://twitter.com/x/status/1223660019855609857

I sent my wife $2000 (in two batches because limit was $1000) through Remitly and each time the PKR equivalent was deposited in her account within 5 minutes and she got confirmation sms from her Pakistani bank. The rate I got for dollar to PKR conversion was very good too. Best part no service charge, they incorporate it in the conversion rate they give you. Much cheaper than going through bank to bank transfer and infinitely faster.

Yeah, sometimes rate might be cheaper at xoom.com. Just compare the fees + rates at the end before you transact. I hope banks become faster, else they will just lose the business.