Business & Finance Print 2022-05-31

IT exports cross $2.1bn, says minister

LAHORE: Federal Minister for IT and Telecommuni-cations Syed Amin-Ul-Haque said on Monday that the investments of...
Published May 31, 2022

LAHORE: Federal Minister for IT and Telecommunications Syed Amin-Ul-Haque said on Monday that the investments of Pakistani start-ups grew by almost five times over 2020 while IT exports had crossed $2.1 billion last year and the target for this year is $3 billion.

“The Ministry of Information and Technology (MOITT) through Ignite has been providing both local and international networking platforms to our start-ups to pitch their business ideas and products to potential customers and investors,” he said while addressing National Incubation Centre (NIC) Lahore at LUMS for the graduation ceremony of its eighth cohort where cash awards were given to the top three graduating start-ups.

LUMS Vice Chancellor Dr Arshad Ahmad, Ignite CEO Asim Shahryar Husain, NITB Executive Director and Board of Ignite Chairman Syed Husnain Abbas Kazmi and other officials were present on the occasion.

The minister advocated for the role of technology in the government’s mission to grow the entrepreneurial ecosystem of Pakistan. He said the ministry has taken many steps to boost IT exports and investment in Pakistan.

Syed Amin-Ul-Haque further said that NIC in Islamabad, Lahore, Peshawar, Karachi and Quetta has not only facilitated many youngsters to work and build on ideas, which promote and encourage the investment infrastructure in Pakistan, but also towards an accelerated economy. “These centres are your platform and we are the facilitators,” he added.

“The newly established incubation centres of Hyderabad and Faisalabad will help us expand and tap into the potential of Sindh and Punjab, and we wish to provide the youth a forum to bring your ideas into reality,” he added.

Ignite CEO Asim Shahryar Husain said that Ignite will launch at least five more NICs in Pakistan. NITB Executive Director and Ignite Board Chairman Syed Hussnain Abbas Kazmi in his address encouraged the entrepreneurs to continue on the path of innovation and reaffirmed the support of the government in their endeavours.

Copyright Business Recorder, 2022


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