ISLAMABAD, Aug 29 (APP):Caretaker Minister for Information Technology and Telecommunication Dr Umar Saif on Tuesday highlighted the potential of the IT sector in addressing the country’s trade imbalance.
Talking to a private TV channel, the minister said that the IT sector held an almost 80 percent trade surplus, making it an attractive industry for boosting the country’s economy.
He emphasized that the untapped potential within the IT sector could significantly contribute to the country’s economic advancement.
Dr Saif pointed out that the current value of Pakistan’s IT exports stood at $2.6 billion, providing employment opportunities for around 150,000 individuals within the sector.
He noted that software developers presently earned an annual income of approximately $17,000 to $18,000, whereas their Indian counterparts earned around $30,000.
Discussing the academic landscape, the minister revealed that Pakistani universities currently produced 20,000 to 22,000 IT graduates, of which only 2,000 to 2,200 secured jobs. He mentioned a disparity in skills, often falling short of international standards. To bridge this skill gap, he stressed the necessity of collaboration between Pakistani IT experts and universities.
Dr Saif proposed that several IT companies channel funds abroad out of which a significant amount could be repatriated to Pakistan by offering incentives to them.
According to the minister, these incentives could potentially bring an additional $1 to $2 billion to the country.
He also acknowledged Pakistan’s global standing as the seventh-largest mobile phone market, boasting an impressive usage of 190 million mobile phones.
Dr Saif shared the government’s vision of fostering local manufacturing of affordable, high-quality mobile phones.
“This strategic step aims to diminish the reliance on imported phones, thereby mitigating the outflow of foreign exchange,” Dr Saif said emphasizing g that this initiative rod a two-fold potential
Elaborating, he said it could generate employment opportunities at the local level while propelling the nation’s high-tech industry.
He explained the advantages of domestic mobile phone production, noting its capacity to meet the escalating demand for mobile devices and invigorate Pakistan’s economy.
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