LAHORE (June 13 2009): The NetSole Technologies Limited Chief Executive Officer and Chairman Salim Ghauri has expressed his concern over the proposed 16 percent general sales tax (GST) on computer software and said it would play havoc with the growth of Information Technology (IT) sector of Pakistan.
Reacting strongly to the government consideration of levying 16 percent general sales tax (GST) on computer software in budget 2009-10, he said any such move would take Pakistan IT industry back to the square one.
The press reports have suggested that the increased usage and sales of certified computer software worth millions of rupees across the country has urged tax authorities to consider the revenue potential of the business. According to him, the dynamic policies of the Pakistan Software Export Board had helped the IT industry to play on front foot in recent past but present recession in the US and other Western countries had put it again on back foot.
Fate of many IT firms is hanging in the balance because of the sudden drop in sales of their software across the globe, he added. He further pointed out that the volume of internally used software was meagre one than the exported one. The snail pace automation of public sector departments in Pakistan was a hurdle in fast growth of IT in Pakistan.
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