Syed Amin-ul-Haq, the federal minister for information technology, has stated that Pakistan is aiming to export IT products worth $15 billion over the next three years.
He was speaking at a panel discussion on “Promoting U.S.-Pakistan Innovation and Investment” at the NED University of Engineering and Technology’s National Incubation Centre Karachi (NICK).
In addition to Dr. Syed Akbar Zaidi, Executive Director of the Institute of Business Administration, and Atif Rais Khan, Founder, and CEO of LMKT, Dilawar Syed, Special Representative (S/R) for Commercial and Business Affairs for the U.S. Department of State, spoke on the panel.
The objective for FY 2022–23 was set at $3 billion, and the government was completely committed to increasing the amount to $15 billion in the three-year plan, according to the federal minister, who also noted that Pakistan’s IT exports had reached $2.6 billion in 2021–22.
According to him, the IT ministry has made a number of initiatives to advance the industry in line with the goal of “Digital Pakistan”. Which has led to an increase in the nation’s cellular, broadband, and internet access. Currently, 193 million Pakistanis have access to mobile phones and the internet. Up from 160 million at the beginning of FY 2018–19, the minister continued.
In addition, the government intends to roll out 5G in Pakistan this year by maintaining a consistent monthly increase in internet coverage and the adoption of 4G technology, according to Aminul Haq.
Furthermore, the IT minister pledged, “We are trying to achieve the goal of a paperless parliament till coming March”. After the digitization of all federal ministries and paperless cabinet sessions.
According to him, National Incubation Centers (NICs) were crucial in encouraging entrepreneurship, and the country now has over 1000 startups. Which has led to the creation of hundreds of new jobs. Simultaneuously, he also stated that the financial value of startups has remarkably increased five times (500%) since FY 2019–20. From $75 million to $373 million.
The IT minister stated that women made up 36% of NICs. And that percentage will increase to 50% in the upcoming year.Hence, underscoring the significance of gender inclusivity in national growth.
Moreover, in his remarks during the panel discussion, the U.S. representative Dilawar Syed stated that “U.S. investors consider the Pakistani market because of its huge, young population as well as its entrepreneurial spirit.”
In an effort to build on the 75 years of economic cooperation between the United States and Pakistan. He insisted that the United States will continue to seek to increase bilateral commerce, increase investment. As well as broaden entrepreneurial and educational possibilities for everyone.
Furthermore, he praised the successful women business owners in Pakistan. And stated that the United States supports the empowerment of Pakistani women.
Visit CxO Global FORUM or CxO News Live for all the latest updates.
