The Ignite Technology Fund, managed by the Ministry of Information Technology and Telecom, has ground to a halt due to prolonged board inactivity. Since his appointment in September 2024, Chairman of the Board and Secretary IT, Zarrar Hasham Khan has failed to convene a single board meeting. This administrative paralysis has stalled several critical projects essential for IT sector advancement, undermining Pakistan’s ambitious $25 billion IT export target.
The board’s inaction has directly impacted flagship initiatives including the CODISKILLS Initiative, the Center of Excellence in Gaming and Animation, the Virtual Production Studio, and the DigiSkills program. Compounding these challenges, Ignite lacks permanent leadership, operating under interim CEO Adeel Aijaz Shaikh, GM (Corporate Affairs), since January 2024. Shaikh’s authority to approve strategic projects remains unclear, further hampering organizational effectiveness.
Profit examines the current state of the Ignite Technology Fund and evaluates the impact of its initiatives on Pakistan’s entrepreneurial ecosystem—a critical foundation for both startup growth and achieving national IT export objectives. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
