Islamabad, 10 June 2022 (TDI): The President of Pakistan, Dr. Arif Alvi, underlined the importance of artificial intelligence and information technology in an address at the Rawalpindi Chamber of Commerce and Industry Technology Awards 2022, on Thursday.

The President believes that the country’s political leadership must make sensible and timely decisions to boost the IT industry, which has the ability to play a significant role in the nation’s development and advancement.

The President further stated that information technology (IT) is the only industry capable of swiftly improving our nation. In the same way, the President added that technology has helped the businessperson’s market grow and get bigger.

Meanwhile, the Pakistan Embassy in Norway and the Oslo Chamber of Commerce organized a virtual meeting with over fifty Norwegian enterprises, investors, and IT companies. Speakers and important people from FPCCI, BOI, TDAP, STZA, PSEB, Sarhad Chamber of Commerce and Industry, and Islamabad CCI were present.

Essentially, the meeting’s main purpose was to boost cooperation in the trade and IT sectors of Norway and Pakistan.

Information Technology Sector of Pakistan

Out of 200 million inhabitants of Pakistan, 60 percent are between the ages of 15 and 29, representing a tremendous pool of human and intellectual potential. The number of IT enterprises and contact centers in Pakistan surpasses 2,000 per year.

Moreover, Pakistan has more than 300,000 IT experts who speak English and know about current and emerging IT goods and technologies. It also has thirteen software technology parks, more than 20,000 IT graduates and engineers each year, and a growing number of people who want to start their own businesses.

Pakistan’s information technology (IT) industry is rapidly establishing itself as a prominent location for software development, business process outsourcing, and freelance labor. Pakistan currently ranks fourth in the world for freelancing development, with IT exports increasing by 70% in the last three years.

Besides, the digital expansion of Pakistan is undergoing a rapid shift. Information Technology is one of the fastest-growing industries in Pakistan, accounting for around 1 percent of the country’s GDP, or $3.5 billion USD. It has more than doubled in the last four years, and economists predict another 100% increase to $7 billion in the next two to four years.

In the 2017-18 fiscal year, IT exports achieved an all-time high of $1.06 billion, up from $939 million in the previous fiscal year. The IT exports are expected to grow from $2.1 billion to approximately $3.5 billion in 2021-22.

According to the Pakistan Digital Policy 2018 and Pakistan Vision 2025, the IT industry will be valued at $20 billion by 2025.

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