ISLAMABAD, Aug 25: Pakistan has come a long way in the field of information technology (IT) which has tremendous potential for growth in terms of creating jobs and increasing exports.

This was stated by Prime Minister Shaukat Aziz while speaking to representatives of local IT firms at the PM’s House on Thursday.

The premier said human capital was vital for IT sector’s growth. Pakistan does not lack talent and the government will ensure that it nurtures and trains this talent to meet the growing IT-related demands in the country, he added.

He said the government would also contribute towards setting up of a venture capital fund which would allow IT industry to have access to the capital required for their business.

Talking about the recent internet connectivity problem, Mr Aziz said two more submarine cables, in addition to the one already functioning, would become operational soon — one by October 2005 and the other by February 2006 — to ensure uninterrupted connectivity.

The IT companies’ representatives informed the prime minister that the industry was experiencing a sever shortage of professionals and steps should be taken to enhance the number of students graduating in IT-related disciplines from local universities and colleges to meet the current as well as future requirements in the sector.

The premier was also informed that the IT industry was growing rapidly and that it currently employed 8,000 people with annual revenue of over 100 million dollars.