ISLAMABAD: Dr. Umar Saif, the Caretaker Minister for Information Technology and Telecommunications, unveiled Pakistan’s inaugural IT Export Strategy (ITeS) at a ceremony held in Islamabad.
The strategy, developed by the Pakistan Software Export Board (PSEB) under the Ministry of IT and Telecommunication (MoITT), in collaboration with PricewaterhouseCoopers (PwC) and international partners, aims to propel the nation’s IT exports to $10-$18 billion by 2028.
Speaking as the chief guest at the event, Dr. Umar Saif emphasized the pivotal role of Information and Communication Technology (ICT) in stabilizing and strengthening Pakistan’s economy. He highlighted the Special Investment Facilitation Council (SIFC) as a key enabler, facilitating foreign direct investment in the IT sector by eliminating departmental bottlenecks.
The strategy, outlined by Dr. Umar Saif, envisions a multi-faceted approach to achieve significant growth. Currently, annual IT exports stand at $2.6 billion, and the plan is to add 200,000 skilled professionals to the workforce, increasing exports to $5 billion.
The strategy proposes allowing IT companies to retain dollars (dollar retention facility) which is expected to contribute an additional one billion dollars. The establishment of the Pakistan Startup Fund is also anticipated to boost IT exports by at least another $1 billion, taking it closer to the ambitious target of $10 billion.
Dr. Umar Saif’s vision included a focus on human resource development, capacity building, freelancers’ facilitation, startup funding, and fostering a resilient IT ecosystem. The strategy aims to create a dynamic environment with business-friendly policies and international marketing efforts, positioning Pakistan as a global IT hub.
The key points of the report underscore the substantial opportunity for Pakistan to become a Global IT hub, with the potential to generate $10-$18 billion in IT/ITeS Export revenues by 2028. The report identifies 5 priority IT/ITeS market segments and 12 sub-segments with high global market growth rates, significant sizes, and ample opportunities for exploitation due to relatively few established players.
Zohaib Khan, Chairman of P@SHA, the IT association of Pakistan’s IT industry, highlighted the pivotal role of IT in shaping Pakistan’s economic landscape. He stressed the importance of industry participation, underscoring how the report is guided by industry insights. Industry collaboration, he emphasized, is integral to the success of national projects and initiatives.
Gerard Newman, Study Project Director and former senior partner of PwC UK, also provided insights into significant opportunities for Pakistan’s IT/ITeS export revenues. He identified five priority IT/ITeS market segments with substantial global market sizes and limited competition. Newman stressed the need for an enabling business environment to support the growth of Pakistan’s IT/ITeS industry.
A panel discussion featuring industry experts addressed key aspects of the strategy, including challenges and the way forward. The discussions highlighted unanimous agreement on strategies to remove constraints inhibiting the industry’s growth.
The event showcased Pakistan’s commitment to elevating its IT/ITeS export revenues, aiming for substantial growth beyond $10 billion annually in the upcoming years.
