Caretaker Minister for Information Technology and Telecommunications, Dr. Umar Saif, has unveiled Pakistan’s inaugural IT Export Strategy, a strategic roadmap to boost the country’s IT exports significantly.
The strategy aims to increase IT exports by up to $10 billion within the next three years. Dr. Saif announced this as the chief guest at the official launch ceremony held at a local hotel in Islamabad.
Under the purview of the Ministry of Information Technology and Telecommunication (MoITT), the Pakistan Software Export Board (PSEB) collaborated with international partners, including PricewaterhouseCoopers (PwC) and experts from the University of Oxford, to develop this comprehensive strategy. Dr. Saif underscored that this strategy aligns closely with the country’s overarching vision for technological advancement.
Dr. Saif emphasized the pivotal role of Information and Communications Technology (ICT) in stabilizing and strengthening Pakistan’s economy. He highlighted that ICT is the key that will open doors to economic prosperity in the country.
Additionally, Dr. Saif acknowledged the Special Investment Facilitation Council (SIFC) for its significant role in enabling the IT sector and removing bureaucratic bottlenecks. He noted that the SIFC is crucial in attracting Foreign Direct Investment (FDI) to Pakistan, further bolstering the sector’s growth potential.
Discussing the strategy’s core components, Dr. Saif revealed that Pakistan’s IT exports are $2.6 billion. The strategy envisions several vital initiatives to achieve the target of $10 billion in IT exports. These include adding an additional 200,000 skilled professionals to the existing IT workforce, which is expected to boost exports to $5 billion.
Introducing a dollar retention facility for IT companies is anticipated to increase exports by an additional billion dollars. Furthermore, establishing The Pakistan Startup Fund will contribute another billion dollars to the total volume of IT exports.
Dr. Saif’s approach encompasses a comprehensive vision that prioritizes human resource development, capacity building, implementing a freelancers’ facilitation program, creating a startup funding initiative, and nurturing a resilient IT ecosystem. It also emphasizes the importance of business-friendly policies and international marketing efforts to create a dynamic environment that propels the industry onto the global stage.
In discussing the report’s key findings, Dr. Saif highlighted the substantial growth opportunities identified in the strategy. The report suggests that Pakistan has the potential to increase its IT/ITeS export revenues to a range of $10-$18 billion by 2028. This growth trajectory positions Pakistan as a potential global IT hub, with a corresponding surge in the domestic industry to over $6 billion annually.
In conclusion, Pakistan’s IT Export Strategy marks a significant milestone in the country’s journey toward technological excellence and economic prosperity. Driven by a forward-looking vision and a comprehensive set of initiatives, it aims to position Pakistan as a prominent player in the global IT industry while fostering a thriving domestic technology ecosystem. The strategy underscores the government’s commitment to harnessing the potential of the IT sector for the benefit of the nation’s economy and its people.