THE country’s IT sector apparently is on the cusp of a significant transformation, with ambitious goals set by the Caretaker Federal Minister for IT and Telecommunication, Dr Umar Saif. The unveiling of a roadmap to achieve an annual export target of $10 billion is a bold step towards positioning Pakistan as a regional ICT hub. While the plan is commendable and promises to bring about positive change, it is essential to recognize the vast untapped potential of Pakistan’s IT industry.
At present, Pakistan’s annual IT exports stand at $2.6 billion, and Dr Umar Saif envisions increasing this figure to $3.5 billion in the short term. The strategy involves encouraging IT companies to retain their export income within Pakistan’s banks rather than channelling it to offshore offices in different countries. This move not only keeps foreign earnings within the country but also ensures the availability of funds for reinvestment in core infrastructure, including essential software services and hardware equipment. One of the key pillars of this strategy is a public-private partnership aimed at training 100,000 software developers. This ambitious effort aims to boost exports by an impressive $2 billion per annum. Through various training programs and boot camps, the plan is to equip university graduates with the in-demand skills of the IT industry to enhance their employability. Another critical aspect of this roadmap is the facilitation of Pakistan’s substantial online workforce community. Pakistanis are the second-largest online workforce globally, but their earnings primarily appear as remittances from overseas Pakistanis due to the absence of a global payment gateway like PayPal. By providing freelancers with access to a global payment gateway and simplified account facilities, the plan aims to add another $2 billion to the export figures. Despite these commendable efforts, it is crucial to recognize the broader potential of the country’s IT industry. India, our neighbour, has set an inspiring example in this regard. In FY23, Indian software exports reached a record high of $320 billion, constituting about 11% of global computer services exports. This achievement demonstrates that with the right policies, investment and talent development initiatives, Pakistan’s IT industry can also achieve great heights and help the country address its economic woes.
