KARACHI: Pakistan has set eyes on $15 billion IT exports target, which currently stands at US $2.6bn, by 2025 and trying to achieve tremendous growth in the tech-based services during the next three years.

Federal Minister for Information Technology and Telecom Syed Amin-ul-Haq on Thursday told a panel discussion on ‘Promoting US-Pakistan Innovation and Investment’ at the National Incubation Centre Karachi (NICK) at the NED University, that the target was “very much achievable” despite all odds and growing competition.

US Department of State Special Representative for Commercial and Business Affairs Dilawar Syed participated in the panel discussion with co speakers Dr S Akbar Zaidi, the Executive Director of the Institute of Business Administration (IBA) and entrepreneur Atif Rais.

The IT minister said that by ensuring a steady monthly growth of broadband coverage and expansion of 4G, the government was going to launch 5G in Pakistan during the current year and every possible effort was being made to meet the deadline.

Amin-ul-Haque says $15bn IT export target in next three years very much achievable

“Following the vision of Digital Pakistan, our ministry has taken multiple steps for promotion of the sector, which has resulted in expansion of internet connectivity, broadband and cellular coverage in the country,” the minister said, adding: “Right now, 193 million Pakistanis have mobile phones and internet connectivity while earlier in 2018-19 that figure was around 160m. That shows the rate of growth and people’s inclusion in the tech-based services.”

“After digitisation of all the federal ministries and paperless cabinet meetings, now we are working to materialise the objective of paperless parliament till March,” said Mr Haq. “The National Incubation Centres (NICs) like this [NED University] have played a significant role in promotion of entrepreneurship and the number of startups crossed 1,000 in the country, which have created hundreds of employment opportunities. The financial volume of startups remarkably increased five times to $373m from $75m in 2019-20.”

The IT minister, emphasising on the importance of gender inclusiveness in national development, said there was 36 per cent representation of females in NICs and the ratio would be raised to 50pc in the coming year.

US Special Representative Dilawar Syed told the panel that American investors were attracted to the Pakistani market because of its large, young population and its entrepreneurial spirit.

The US would keep working to broaden bilateral trade, boost investment, and expand entrepreneurial and educational opportunities for all as part of its effort to build on 75 years of US-Pakistan economic cooperation, he maintained.

Appreciating Pakistani women entrepreneurs, he 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 marginalised groups would help ensure Pakistan realise its entrepreneurial potential.

Earlier, the IT minister and the US representative held a meeting and discussed avenues of mutual cooperation to strengthen Pakistan’s entrepreneurship ecosystem.

Following the meeting, they toured the centre along with NICK officials and met with the Pakistani entrepreneurs.

The US special representative is on a four-day visit to Karachi and on Thursday he met with Pakistani officials, innovators.

Following attending the panel discussion, Mr Syed participated in a roundtable with Pakistani women entrepreneurs.

Published in Dawn, July 8th, 2022