PM expresses Disappointment over low IT Exports Growth

Prime Minister Shahbaz Sharif on Friday expressed disappointment and serious concerns over low IT exports growth and directed to take measures on priority basis to tap full potential.

Prime Minister Muhammad Shahbaz Sharif held a meeting regarding the promotion of exports in the field of information technology, especially IT.

It was informed during the meeting that the United States (US) has become a top tech destination for Pakistani freelancers and tech enbterpreneurs with 57 percent share of total IT exports.

Last year’s IT exports were $2.6 billion and the government is now eying $5 billion during this year.  

The freelancers and tech entrepreneurs have called for taking urgent measures for facilitation in bank loans, payment system and offering health insurance on premuim rates to tap full potential of IT exports.  

They say that the government can achieve the target by internet penetration and offering incentives like health insurance, easy loans and facilitating banking payment systems.Pakistan IT Exports in September 2022 down by 10% MoM

During the meeting, the Prime Minister said that Pakistan has enormous potential in the field of information technology which needs to be fully exploited.

As compared to the amount of talent and skill in Pakistan regarding IT, the IT exports from Pakistan are quite low, which should be done on a priority basis to increase them, Prime Minister said.

The Premier said that concerned ministers and officers should hold a detailed meeting with IT exporters and take steps to solve all their problems on priority basis.

He also called for improving communication between Universities, Academia and the IT Industry.

Talking to the participants of the meeting, the Prime Minister said that Pakistan has a lot of potential in the field of information technology, which needs to be fully exploited. 

He said that Pakistani entrepreneurs have played a very important role in the promotion and development of the IT sector. He further said that the exports of Pakistan’s IT sectors are very less compared to the talent and capacity of the IT sector in Pakistan. The Prime Minister said that there is a need to work on a priority basis to increase the exports of the IT sector.

The Prime Minister further said that such exporters who have played a role for substantial increase in IT exports will be appreciated at the government level.

The meeting was told that Pakistan’s IT exports last year were 2.6 billion US dollars and efforts are being made to increase these exports to 5 billion US dollars this year as per the vision of the Prime Minister. 

The meeting was told that the highest IT exports are going to the United States of America which is 57% of the total IT exports. 

In the briefing, it was further informed that Pakistan has the second largest freelance work force in the world, while Pakistan Software Export is taking steps to increase its capacity. 

The meeting was told that for the inclusion of new people in the IT industry, two-year associate degree programs in IT are being considered in the universities.

The meeting was told that artificial intelligence, cyber technology, chain and cloud technology are also part of the government’s priorities.

To promote foreign investment in the IT sector in Pakistan, the brand of Tech Destination (Tech Destination) Pakistan is being introduced all over the world.

The meeting was told that the Federal Board of Revenue has established help desks in Karachi, Lahore and Islamabad for the convenience of IT exporters, which are working under the leadership of Commissioner IR level officer. All steps are being taken to provide facilities to more IT exporters.

The Prime Minister directed that the concerned ministers and officers should hold a detailed meeting with the IT exporters and take steps to solve all their problems on a priority basis. 

The Prime Minister expressed his dissatisfaction with the current volume of IT exports and said that compared to the amount of talent and skills available in Pakistan regarding IT, the IT exports from Pakistan are quite low, which needs to be done on a priority basis to increase them. He directed to chalk out a future plan of action in this regard.