Gilgit (PR): Secretary Information Technology Gilgit-Baltistan (G-B) Azam Khan while talking about the performance of his department said the G-B government has established IT department for providing good governance. The department has been functioning for the last one year.
According to him, the set up of IT secretariat and directorate is complete. In the next phase, an IT Board on the pattern of other provinces would be set up, for which a draft law has been submitted to the GB Assembly.
He said several initiatives have been initiated by the IT department, including the start of work on the establishment of software technology parks in 14 districts, digital skill development programs for young people in basic and advanced digital technologies, etc.
He further said another important step under the special initiatives of Chief Minister G-B is the establishment of an IT startup support fund worth Rs.10 million. The initiative aims to launch IT startups for freelancers which will be a significant investment in the future of the region.
A soft loan program has been launched, providing credit on easy terms to IT startups. The loan will start with a minimum of one lakh rupees to be returned in easy installments in three years. An endowment fund of 100 million has been created for the execution of the program.
The profit generated from the endowment fund will help pay the mark-up support of the loans. The beneficiaries will pay only a 5% interest rate, while the government will pay a 12% interest rate, said the IT secretary G-B.
According to the secretary, the loan program will be monitored through a web portal, which will link the beneficiaries and the IT department. The portal will provide real-time information on the financial progress of the initiative and help ensure that the program is run efficiently. The bank will be committed to lending up to Rs.100 million in the market for these loans, enabling IT startups to access the resources they need to grow and succeed.
He said the above-mentioned initiatives are a testimony of the government’s serious attention toward the promotion of the IT sector in G-B. The initiatives will positively impact the economy at large. Because IT startups play an important role in driving economic growth and creating new employment opportunities.
According to the secretary, the IT department, through an open advertisement, shortlisted twenty-nine companies and sent their profiles to KCBL, out of which regular checks will be distributed among the selected companies. The second phase of loan disbursement will be started soon, for which applications will be received from candidates who meet the criteria.
