Caretaker Minister for Information Technology and Telecommunications, Dr. Umar Saif, has introduced Pakistan's inaugural IT Export Strategy aimed at elevating the country's IT exports to $10 billion within the next three years.
During the strategy's launch event, Dr. Umar Saif highlighted that the Pakistan Software Export Board (PSEB), in collaboration with PricewaterhouseCoopers (PwC) and international partners, including the University of Oxford, crafted the strategy in alignment with the government's vision.
Emphasizing the critical role of Information and Communications Technology (ICT) in stabilizing and fortifying Pakistan's economy, Dr. Umar Saif noted the Special Investment Facilitation Council's (SIFC) pivotal function in facilitating the sector and streamlining bureaucratic hurdles.
Anticipating increased Foreign Direct Investment, Dr. Umar Saif underscored the SIFC's potential to attract foreign interest in Pakistan.
Regarding the strategy's objectives, Dr. Umar Saif outlined plans to bolster IT exports, aiming to double the skilled IT workforce by adding 200,000 professionals, potentially doubling exports to $5 billion. Further measures include granting IT companies dollar retention facilities and establishing The Pakistan Startup Fund, which, along with other initiatives, aims to elevate total IT exports to $10 billion.
Dr. Umar Saif stressed the strategy's focus on human resource development, freelancers' facilitation, startup funding, and the cultivation of a robust IT ecosystem.
The report's key highlights project substantial growth opportunities, foreseeing Pakistan as a Global IT hub by 2028, potentially generating IT/ITeS Export revenues of $10-$18 billion, and fostering a domestic industry exceeding $6 billion annually.
Dr. Umar Saif highlighted specific market segments within the IT/ITeS Industry poised for significant global growth, foreseeing substantial benefits for associated sectors and the broader economy, such as e-Commerce, Financial Services, and e-Government services.
