Pakistan Unveils Groundbreaking IT Export Strategy Targeting $10 Billion Growth
In a significant move to bolster its Information Technology (IT) sector, Pakistan has introduced its inaugural IT Export Strategy, spearheaded by Caretaker Minister for Information Technology and Telecommunications, Dr Umar Saif. The strategy aims to propel the country’s IT exports to a remarkable $10 billion within the next three years.
During the unveiling ceremony held at a local hotel in Islamabad, Dr Saif, the chief guest, highlighted the collaborative effort behind the strategy, involving the Pakistan Software Export Board (PSEB), PricewaterhouseCoopers (PwC), and international partners, including experts from the University of Oxford. He underscored the strategy’s alignment with the national vision and emphasized the pivotal role of Information and Communications Technology (ICT) in stabilizing and fortifying Pakistan’s economy.
Dr Saif disclosed that the current IT exports stand at $2.6 billion, and the strategy aims to augment this figure by adding 200,000 skilled professionals to the existing IT workforce, thereby raising exports to $5 billion. Additional measures include permitting IT companies to retain dollars, potentially contributing another billion dollars, and the establishment of The Pakistan Startup Fund, envisaged to further boost IT exports by an additional $1 billion, collectively working towards the ambitious $10 billion target.
The Caretaker IT Minister elucidated the strategy’s multi-faceted approach, emphasizing human resource development, capacity building, a freelancers’ facilitation program, a startup funding initiative, and the cultivation of a resilient IT ecosystem. The comprehensive vision extends to fostering business-friendly policies, international marketing efforts, and creating a dynamic environment conducive to the industry’s global growth.
Discussing key findings from the report, Dr Saif revealed that the strategy positions Pakistan to escalate its IT/ITeS Export revenues to a range of $10-$18 billion by 2028. This transformative growth is poised to position Pakistan as a global IT hub, concurrently elevating the domestic industry to over $6 billion annually.
This groundbreaking initiative marks a pivotal moment for Pakistan’s IT sector, with the potential to redefine its global standing and economic contributions. The strategic roadmap outlined by Dr Umar Saif underscores the nation’s commitment to fostering innovation, entrepreneurship, and sustained growth in the dynamic realm of Information Technology.
Image Credits Geo tv