Pakistan IT Exports to reach $10 billion
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Caretaker Prime Minister Anwaar-ul-Haq Kakar granted approval on Wednesday to the Ministry of Information and Technology (IT) and Telecommunications' comprehensive strategy. The plan's primary objective is to usher in PayPal and Starlink services to Pakistan, marking a significant milestone in the country's technological landscape. During a meeting with Dr. Umar Saif, the Caretaker Minister for IT and Telecom, the prime minister praised the ministry for its thorough measures aimed at unlocking the vast potential within Pakistan's IT sector.
In a bid to facilitate the realization of this ambitious goal, the prime minister issued directives to several key entities, including the Ministry of Finance, the State Bank of Pakistan, the Ministry of Trade and Commerce, the Federal Bureau of Revenue (FBR), and the Ministry of Energy. These directives emphasized the importance of cooperation and collaboration with the Ministry of IT in implementing the plan effectively.
Dr. Saif elaborated on the new IT policy, highlighting its core objectives, such as bolstering digital exports through the establishment of dollar retention accounts and streamlining financial transactions via IT corporate debit cards. Additionally, the government plans to harness venture capital to secure investments of up to $1 billion, fostering the growth of various startups.
Underpinning the minister's remarks was a strong belief in Pakistan's IT potential, with a target of reaching $10 billion in digital exports. Achieving this hinges on addressing and overcoming existing hurdles.
The policy also seeks to attract international online payment processing platforms like PayPal and Stripe to Pakistan, alongside creating co-working spaces for 500,000 freelancers, potentially adding $3 billion annually to the nation's income.
Furthermore, the Ministry of IT intends to enhance the services sector through the introduction of training programs aligned with international standards. Dr. Saif revealed the commencement of a program to train 200,000 professionals, envisioned to contribute significantly to boosting Pakistan's IT exports to a target of $5 billion. Lastly, the policy encompasses comprehensive reforms aimed at optimizing the utilization of available spectrum resources, ensuring efficient operations in this domain
