'Pakistan’s IT exports to surpass $3 billion this year'

IT minister says national incubation centres are helping entrepreneurs build on their ideas

Pakistan would surpass its $3 billion Information Technology exports target this year due to the steps taken to boost them, Minister for IT and Telecommunications Syed Amin-ul-Haque said on Monday.

The minister made the remarks while addressing a graduation ceremony held at the Lahore University of Management Sciences (LUMS).

Haque added that IT exports had crossed $2.1 billion mark due to the congenial investment atmosphere provided for the same.

He noted that investments by Pakistani start-ups had grown almost five times as compared to the year 2020 and that the ministry had been providing local and global networking platforms to the start-ups through Ignite, the national technology fund.

The initiative, he added, had been helping the start-ups pitch their ideas and products to their potential customers and investors.

Haque advocated for technology's role to grow the entrepreneurial ecosystem of the country.

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"The National Incubation Centers (NIC) in Islamabad, Lahore, Peshawar, Karachi and Quetta have not only facilitated many to work and build on ideas which promote and encourage the investment infrastructure in Pakistan, but also ensured an accelerated economy," he added.

“These centers, are the platforms and the ministry is the facilitator.”

The minister expressed confidence that the newly established incubation centers of Hyderabad and Faisalabad would help tap the potential of Sindh and Punjab, saying the government aspired to provide the youth to bring their ideas into reality.

Other speakers also encouraged the entrepreneurs to continue on the path of innovation and reaffirmed the support of the government in their endeavours.

Later, the minister was introduced to the NIC Lahore alumni, followed by his visit to different parts of the institution including a state-of-the-art Makers Lab.

LUMS Vice Chancellor Dr Arshad Ahmad, Ignite CEO, Asim Shahryar Husain, NITB Executive Director and Board of Ignite Chairman, Syed Husnain Abbas Kazmi and other officials were also present on the occasion.