{"id":408117,"date":"2024-05-20T09:31:49","date_gmt":"2024-05-20T04:31:49","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=408117"},"modified":"2024-05-20T09:31:49","modified_gmt":"2024-05-20T04:31:49","slug":"exploring-it-potential-for-economic-growth","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/exploring-it-potential-for-economic-growth\/","title":{"rendered":"Exploring IT potential for economic growth"},"content":{"rendered":"<p> LAHORE<br \/>\nAs 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.<br \/>\nFully 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.<br \/>\nA 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.<br \/>\n\u201cInformation Technology (IT) sector has exhibited consistent year-on-year growth and emerged as one of top five net exporters in the country,\u201d stated Pakistan Software Houses Association Chairman Zohaib Khan.<br \/>\n\u201cAs a primary contributor to net exports in services industry, IT sector plays a pivotal role in shaping Pakistan\u2019s economic landscape,\u201d Zohaib said. \u201cWith the potential to become country\u2019s 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.\u201d<br \/>\nAccording to Pakistan Telecommunication Authority (PTA), Pakistan\u2019s Telecom sector had generated Rs 850 billion in revenues in 2022-23, marking 17 percent growth from previous year and demonstrating sector\u2019s resilience amidst challenges of inflation, high business cost and economic slowdown.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-408117","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Exploring IT potential for economic growth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/exploring-it-potential-for-economic-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exploring IT potential for economic growth\" \/>\n<meta property=\"og:description\" content=\"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. 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