Pakistan will soon get tech upgrade as a part of Government’s effort to get rid of manual paperwork and adopt new digital age. For this cause Inbox Business Technologies Ltd. has planned to raise 1.5 billion rupees in an initial public offering. Inbox Business Tech to Digitize Government and Plans 1.5 Bn IPO.
Inbox is the largest IT company in Pakistan which decided to pair with government to digitize most of their paperwork. Chief Executive Officer of Inbox, Mir Nasir revealed that the company plans to sell 39 percent stake in the IPO which is scheduled in June 2017. He also shared inbox’s target to double the revenue to $100 million in next five years.
Inbox Business Tech to Digitize Government and Plans 1.5 Bn IPO
Nasir Said in an interview:
“Our own industries are now starting and taking notice of the digital disruption concept and they are getting more and more automated,“You need Pakistani Tatas and Wipros.”
Pakistan is slow to digital era adoption as Government Offices are still using old fashioned ways. The decision to digitize government will not only be beneficial for Pakistan but also will open gates for companies such as Dell and Inbox to provide services as an outsourcing giants.
Image Source: Bloomberg
It is evident from graph that Pakistan comes in the last in Asia to spend on technology sector. However this project shows that government finally want to to bring changes to the outdated manual paperwork culture in the Pakistan.
Inbox began as an assembler of hardware in 2011. With time it has incorporated software and infrastructure management services. This is indeed Inbox’s biggest project which will generate 80 percent of its revenue.
The tech giant, Inbox is already working with the government on large infrastructure projects that includes organizing, installing and building digital systems for mass transport systems in Lahore and Rawalpindi.