USF, Ignite to Get Rs. 27 Billion Funds in Current Fiscal Year

The policy committees of the Universal Service Fund (USF) and Ignite held separate meetings under the chairmanship of Minister of State for IT and Telecommunication Shazia Fatima Khawaja. The meetings aimed to discuss and approve the budgets for the current financial year.

The meeting approved a budget of Rs. 23 billion for the USF for the financial year 2024-25. The meeting also approved a budget of Rs. 3.960 billion for Ignite, a subsidiary of the USF. The budget aims to support Ignite’s initiatives in promoting innovation and entrepreneurship in the country.

In addition, the meeting approved a budget of Rs. 5.5 billion for the first quarter of the current financial year. The CEO USF, Chaudhry Mudassar Naveed, also gave a briefing on ongoing and future projects.

According to IT Ministry, approval of the budgets for USF and Ignite is expected to boost the development of the telecom and IT sectors in Pakistan. The funds will be utilized to support various projects and initiatives aimed at promoting digital inclusion and innovation in the country.