Islamabad: Minister of State for IT and Telecommunication Shaza Fatima Khawaja has highlighted the significance of the inaugural Pak-US Tech Investment Conference 2024, which she addressed via video-link. This event is poised to foster collaboration between tech companies from both Pakistan and the United States, marking a crucial milestone for Pakistan’s burgeoning IT industry.
According to Press Information Department, Shaza Fatima emphasized the promising growth of Pakistan’s technology sector, which has been propelled by a vibrant ecosystem of innovation and entrepreneurship. The sector’s ICT exports have notably increased by 25%, and the government aims to continue this momentum towards achieving a $25 billion goal set by Prime Minister Shahbaz Sharif. The conference serves as a platform for U.S. and Pakistani businesses to collaborate, furthering this objective.
The Minister of State highlighted Pakistan’s advancements in cybersecurity, with the country being ranked in Tier-1 (Role-Modeling) alongside global leaders in the Global Cybersecurity Index of ITU. This achievement reflects Pakistan’s commitment to cybersecurity through initiatives such as the National Cyber Security Policy and various regulations and hackathons. Additionally, Pakistan has improved its standing in the UN E-Government Development Index, rising 14 places since 2022.
She also underscored the significant export of Pakistan’s IT and ITeS services to the US and UK, which accounts for over 60% of the sector’s exports. The government is focused on nurturing the IT industry through a digital ecosystem that promotes innovation and entrepreneurship. A National Digital Commission and Pakistan Digital Authority are in the pipeline to spearhead the nation’s digitization efforts, which will be primarily led by the private sector.
Shaza Fatima pointed out that Pakistan is becoming an attractive destination for international investors and tech partners, offering state-of-the-art facilities, tax exemptions, and a supportive business environment. With 75,000 new IT graduates entering the workforce annually and a youth population constituting 63% of the country, Pakistan is investing in skill development and upskilling to harness this potential for both domestic and international markets.