LAHORE
As Pakistan navigates challenges of a rapidly evolving global landscape, a robust IT industry becomes a catalyst for driving innovation, fostering research and technological development and grabbing slot on the list of developed nations.
Fully employing this sector would matter much for Pakistan also in attracting foreign investment and partnerships on way to a progressive economy and steering country out of financial crunch.
A thriving IT sector can act as a buffer, reducing dependency on traditional industries with a youthful population contributing visibly as a strategic asset for nation building and making the country flourish in different arena of life.
“Information Technology (IT) sector has exhibited consistent year-on-year growth and emerged as one of top five net exporters in the country,” stated Pakistan Software Houses Association Chairman Zohaib Khan.
“As a primary contributor to net exports in services industry, IT sector plays a pivotal role in shaping Pakistan’s economic landscape,” Zohaib said. “With the potential to become country’s primary foreign exchange earner and achieve ambitious annual national target of over US$ 15 billion, it is crucial to embrace a comprehensive approach to propel this sector forward.”
According to Pakistan Telecommunication Authority (PTA), Pakistan’s Telecom sector had generated Rs 850 billion in revenues in 2022-23, marking 17 percent growth from previous year and demonstrating sector’s resilience amidst challenges of inflation, high business cost and economic slowdown.
