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Pakistan's trade imbalance can be addressed through IT sector: Dr Umar Saif

  • Caretaker minister of Information Technology says the sector's untapped potential may make a substantial contribution to the growth of the national economy
Published August 29, 2023

Caretaker Minister of Information Technology and Telecommunication Dr Umar Saif on Tuesday highlighted the potential of the IT industry in reducing the country’s trade imbalances, according to APP.

The minister asserted in an interview with a private TV channel that the IT industry had a trade surplus of almost 80%, making it an appropriate focus for expanding the nation’s economy.

He stressed that the IT sector’s untapped potential may make a substantial contribution to the growth of the national economy.

Dr. Saif emphasized that the current value of Pakistan’s IT exports was $2.6 billion, creating jobs for almost 150,000 people in the industry.

He pointed out that the current average wage for software professionals was between $17,000 and $18,000 per year, compared to $30,000 for their Indian colleagues.

While discussing the academic environment, the minister disclosed that just 2,000 to 2,200 of the 20,000 to 22,000 IT graduates generated by Pakistani universities found employment.

He spoke of a competence gap that frequently falls short of international standards.

He emphasized the need for cooperation between Pakistani IT experts and universities to bridge this talent gap.

Dr. Saif suggested that various IT firms send funds overseas, of which a sizeable portion may be returned to Pakistan by giving them incentives.

The minister estimates that these incentives might increase the nation’s revenue by $1 to $2 billion.

He also mentioned Pakistan’s amazing usage of 190 million mobile phones, which places it as the seventh-largest mobile phone market in the world.

The minister supported the government’s initiative to encourage domestic manufacturing of low-cost, high-quality mobile phones.

He stressed that this project served two purposes and aimed to lessen the reliance on imported phones in order to lessen the outflow of foreign currency.

He went on to explain that it might strengthen the nation’s high-tech sector while opening up job opportunities locally.

He underlined the advantages of domestic mobile phone production, emphasising how it might support Pakistan’s economy and satisfy the nation’s growing need for mobile devices.


Comments are closed.

Fazeel Siddiqui (Overseas Pakistani) Aug 29, 2023 06:08pm
Fools dreaming of paradise while waving hands in dirt. Educated, talented and skilled young workforce is rushing to leave Pakistan in millions, Why? When you beat them & torture their families through law enforcement agencies for raising their political vows at on ground and social media. Everyone know most of educated public was with PTI for whatsoever right or wrong reasons. Dumb rulers of Pakistan can build IT & Industrial farms with help of farmers who will be free after corporate forming.
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Ash Chak Aug 29, 2023 06:18pm
"He spoke of a competence gap that frequently falls short of international standards.'. That is the issue at hand.
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KU Aug 29, 2023 07:23pm
We have been hearing this narrative for the last two decades, and to date nothing worth talking about. Actually, we made a mistake by assuming fiction as fact, which in reality is the opposite, and this is true for education in general as well in our country. Very soon we will experience how it would have felt living on the planets of the apes.
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KhanRA Aug 29, 2023 07:24pm
Pakistani education is a mess, how can the country produce IT graduates when the focus is on religion only?
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imran SZ Aug 29, 2023 09:00pm
What about reducing 15 billion yearly expenses to look after those who dont do anything apart controllign bloody civilians?
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