Prime Minister Shehbaz Sharif-led meeting on the demands of the IT sector ended fruitlessly on Tuesday, reported 24NewsHD TV channel.

According to official sources, the prime minister gave the target of increasing the export of IT products to $5 billion in the next year.

He also ordered steps in this regard.

Finance Minister Ishaq Dar will prepare and submit a working paper on workable proposals.

The finance ministry refused to accede to the demands of the IT industry.

It rejected the proposal of the IT industry to keep 100 per cent of its reserves abroad.

It also rejected the IT industry proposal regarding tax exemption.

The proposal to give the IT industry the facilities and incentives, that are given to the Special Technology Zones Authority, in advance was also fruitless.

Reporter: Awais Kiyani