PM Shehbaz seeks detailed roadmap to boost IT exports

ISLAMABAD: Appreciating the increase in the export volume of Information Technology (IT) services to more than $3 billion, Prime Minister Shehbaz Sharif on Tuesday sought a comprehensive roadmap to further boost IT exports.

He issued these instructions while chairing a meeting to review the performance of the IT and telecom sectors.

Meanwhile, newly appointed federal cabinet member, Shaza Fatima Khawaja, was given the portfolio of minister of state for IT.

The PM laid emphasis on the swift resolution of all issues being faced by start-ups, freelancers and IT companies relating to banking.

“For bringing Pakistan’s IT sector on a par with the international standards, they would have to work hard,” he said.

Shaza Fatima Khawaja made state minister for information technology

He said the government would take steps to fully avail potential for IT exports, besides, the young people would be provided with required facilities of education, skills development and start-ups, according to a statement issued by the Prime Minister’s Office (PMO).

The meeting was apprised of progress on an IT package announced by the prime minister in June 2023.

It was informed that during the previous government’s term, IT exports witnessed a 13 per cent increase during the first seven months of the current fiscal year compared to the corresponding a year ago.

Under the Digiskills programme, training had been given to 17 batches comprising a total of four million students, including 28 per cent female students.

Pakistan emerged as the second top country in the world on the basis of number of freelancers last year when IT products were exported to 170 countries.

The meeting was informed that during the previous year, an investment of $400 million was made in Pakistani start-ups.

The prime minister directed relevant officials to take all necessary, legal and policy-related steps to attract investment and boost IT exports.

He also called for expediting work on projects meant to enhance professional and tech-nical training of youth for complete utilisation of potential in the IT sector.

The meeting was also briefed about progress on IT, E-Rozgar, startups, cybersecurity, telecom sector and the launch of 5-G.

The PM also asked for submission of a comprehensive report regarding special technology zones.

Bloomberg

Separately, a Bloomberg analysis noted that PM Shehbaz “has the track record of carrying out reforms” and that his return as prime minister for a second term “increases the chances of securing a new IMF package”.

The international newswire said Prime Minister Shehbaz Sharif has the experience of closing a deal with the multilateral lender as prime minister.

He personally negotiated with IMF Managing Director Kristalina Georgieva.

It also noted that new finance minister Muhammad Aurang­zeb’s most pressing challenge would be to secure at least $6 billion in loans from the IMF to tide over the economy, which has been battered by surging inflation and slowing growth.

The nation also needs to unlock the final $1.1 billion tranche from an IMF program that ends next month.

Some $1 billion of Pakistan’s dollar denominated bonds mature in April as well.