Govt to boost IT ecosystem for economic growth

Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, reiterated the government's commitment to rapidly building a robust digital ecosystem to drive socio-economic progress, expand the knowledge economy, and stimulate economic growth. Speaking at the inauguration of the 25th ITCN Asia 2024 exhibition at the Karachi Expo Centre on Tuesday, she underscored the importance of adopting information and communication technology (ICT) as a key component of Pakistan's socio-economic advancement.

The three-day exhibition, organised by Ecommerce Gateway Pakistan Pvt Ltd, attracted over 300 speakers, 70,000 industry participants, and 350 foreign delegates from 17 countries, reflecting global interest in Pakistan's IT sector.

"We are dedicated to holistically advancing our IT ecosystem," Khawaja stated. "From crafting relevant policies and legislation to fostering a culture of innovation, these efforts are yielding substantial results. Our IT industry is seeing consistent growth, evidenced by a 24% increase in IT exports, which reached $3.22 billion this year. This growth reflects confidence in the ability of our local companies to deliver IT solutions and services that meet international standards."

Khawaja highlighted that the Digital Pakistan Policy serves as a roadmap for digital transformation across both government and private sectors, ensuring that Pakistan stays at the forefront of technological progress. She also pointed to the establishment of software technology parks and special technology zones as a priority for the government, alongside the introduction of e-Rozgar centres. These centres provide freelancers and entrepreneurs with facilities and training resources to strengthen the national economy.

Pakistan, home to around 1 million freelancers, ranks among the top countries in the gig economy. Leveraging this potential is critical to achieving the government's target of $10 billion in IT exports in the coming years, she added.

At the inauguration conference, leading IT professionals urged policymakers to consider the broader impact of IT policies on the economy, businesses, and Pakistan's global standing. They called for policies that facilitate growth, particularly in IT exports and freelancer payments.

Muhammad Zohaib Khan, Chairman of the Pakistan Software Houses Association (P@SHA), praised the role of the Special Investment Facilitation Council (SIFC) in boosting investment in the IT sector. He noted that IT exports reached $3.2 billion in the 2023-24 financial year, with the industry exploring new export destinations, enhancing Pakistan's global brand and earnings.

Syed Sohail Javaad, Executive Director of the State Bank of Pakistan's Digital Financial Services Group, noted that as of 2022, Pakistan had over five million SMEs, but only 516,317 merchants were accepting QR/Wallet-based payments, indicating that roughly 90% of SMEs are still not digitally integrated.