‘IT exports are likely to increase by $1bn this year’
By
April 1, 2024
Mian Zahid Hussain, who leads important business groups in Pakistan, mentioned that our country’s earnings from selling IT services could go up by $1 billion from last year.
Last year, we made $2.6 billion from IT sales. This year, we might make $1 billion more, but this is still much less than what our neighboring country makes, which is $320 billion.
Mian Zahid Hussain thinks that if we work smartly, we could make $25 billion every year from IT sales.
Right now, IT only makes up 1% of all the money our country makes, but it employs over 300,000 people. This year, from October, we saw a 15% increase in IT sales.
Apart from private companies and people who work for themselves, our currency staying stable and support from our central bank have also helped IT grow.
But Mian Zahid Hussain thinks we need a clear plan for IT to keep growing. Our companies and freelancers sometimes have trouble with banks. The central bank is trying to fix this, but there’s still work to do. Without the right conditions, we can’t make the most of what IT can offer.
Pakistan is second in the world for the number of freelancers. If we give them good education and training, it could lower unemployment and make our economy much better.
