Experts Say Pakistan’s IT Exports Will Cross $3.5 Billion Mark in 2022

Pakistan’s IT industry is on the right track with its exports increasing two folds. This claim is validated by a group of experts.  At a webinar hosted by the Pakistan Consulate General in Toronto, the experts said that Pakistan’s IT sector is expected to develop tremendously in the following months and years, with IT exports increasing from $2.1 billion to over $3.5 billion this fiscal year.

Pakistan’s IT industry is booming, and the government is taking the proper steps to help it develop even more, such as increasing the number of IT graduates from 25,000 to 50,000 and establishing software technology parks. These were some of the points made at a webinar hosted by the Pakistan Consulate General in Toronto on the topic of “Pakistan Canada IT Cooperation: Connecting the Dots.”

Experts Say Pakistan’s IT Exports Will Cross $3.5 Billion Mark in 2022

According to the participants, Pakistan’s government is also boosting IT firms’ access to financing, eliminating tax issues, upgrading IT companies’ financial structures, and putting them on the stock exchange. The webinar’s goals were to offer a venue for interaction between Pakistani-origin experts working in Canadian IT companies and Pakistani IT industry and academics.

Abdul Hameed, Consul General of Pakistan in Toronto, stated in his opening remarks that it is commonly recognised that Pakistan has the capacity to take a far larger portion of the market than it does now. He also gave information on the size and growth trajectory of Canada’s ICT sector, as well as the major areas within the sector that have seen rapid development and the top ICT businesses in the country.

Large technology parks are being built in major cities, as well as software technology parks in second and third tier cities, according to Osman Nasir, MD PSEB.

Ex-PASHA President Barkan Saeed emphasised the measures being done, such as the establishment of Special Technology Zones (STZs), where businesses would be free from local and international taxes and import levies on equipment, as well as a cash award plan for businesses.

The primary difficulty impeding Pakistan’s progress in North America, according to Hassan Naqvi, President of CM Inc., is perception. He agreed that combining perception management with tourism is a good way to go.

Jehan Ali, CEO of M/s MobileLIVE, discussed the prospects in the Canadian ICT industry, noting that the vast majority of organisations in Canada were small businesses with a huge cost-effectiveness concern that Pakistani ICT firms could address.

Hassan Ramay, the Managing Partner of GoSaaS Inc., emphasized the necessity for Pakistani ICT firms to specialize rather than advertise and operate in a variety of fields such as AI, Cloud, Big Data, and so on.

Raheel Qureshi, Founder, and Partner of M/s iSecurity Consulting in Canada stated that there was a global manpower shortage in the ICT sector, which led to the globalization of roles.

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