Federal Minister for Information Technology, Syed Amin-ul-Haq, has said that Pakistan is ambitiously working to achieve $15 billion in IT exports in the coming three years.
He was addressing a panel discussion on “Promoting U.S.-Pakistan Innovation and Investment” at the National Incubation Centre Karachi (NICK) at NED University of Engineering and Technology.
U.S. Department of State Special Representative (S/R) for Commercial and Business Affairs, Dilawar Syed, participated in the panel discussion with co-speakers Dr. Syed Akbar Zaidi, Executive Director of the Institute of Business Administration, and Atif Rais Khan, Founder and CEO of LMKT.
The federal minister said that Pakistan’s IT exports reached $2.6 billion in 2021-22, while the target for FY 2022-23 was set at $3 billion and the IT ministry was fully determined to enhance the figure to $15 billion in the three-year plan.
Following the vision of Digital Pakistan, the IT ministry has taken multiple steps for the promotion of the sector, which resulted in the expansion of internet connectivity, broadband, and cellular coverage in the country, he said. The minister added that, nowadays, 193 million Pakistanis have mobile phone and internet connectivity, while earlier in FY 2018-19, the figure was 160 million.
By ensuring a steady monthly growth of broadband coverage and expansion of 4G technology, the government is eyeing the launch of 5G in Pakistan during the ongoing year, Aminul Haq said.
After the digitalization of all the federal ministries and paperless cabinet meetings, now we are working to materialize the objective of paperless parliament till coming March, the IT minister vowed.
National Incubation Centres (NICs) played a significant role in the promotion of entrepreneurship and the number of startups crossed 1000 in the country, which created hundreds of employment opportunities, he said and informed that the financial volume of startups remarkably increased five times (500 percent) to $373 million from $75 million of FY 2019-20.
The IT minister, emphasizing the importance of gender inclusiveness in national development, informed that there was 36 percent representation of females in the NICs, and the ratio would be raised to 50 percent in the coming year.
The U.S. representative, Dilawar Syed, while speaking at the panel discussion, said, “U.S. investors are attracted to the Pakistani market because of its large, young population, and its entrepreneurial spirit.”
The United States will keep working to broaden bilateral trade, boost investment, and expand entrepreneurial and educational opportunities for all as part of our effort to build on 75 years of U.S.-Pakistan economic cooperation, he maintained.
Appreciating Pakistani women entrepreneurs who have successfully established their businesses he said that the U.S. supports the empowerment of Pakistani women and girls.
Syed stressed the importance of nurturing sustainable and inclusive economic growth for Pakistan’s long-term prosperity and suggested that Boosting digital and financial literacy for women and marginalized groups will help ensure Pakistan can realize its entrepreneurial potential.
Earlier, the IT Minister and U.S. special representative had held a meeting and discussed avenues of cooperation to strengthen Pakistan’s entrepreneurship ecosystem. Following the meeting, they toured the center along with NICK officials and met with Pakistani entrepreneurs.
