In a report, the Overseas Investors Chamber of Commerce and Industry (OICCI) has concluded that digitization has the potential to add $60 billion to Pakistan’s economy within the next seven to eight years. The report titled “Recommendations for Digital Transformation in Pakistan”, presented to the President of Pakistan, aims to help the country on its digital journey and covers suggestions on e-commerce, fintech, IT exports and web 3.0 technologies etc.
The points and factors highlighted by the OICCI vis-à-vis digital potential of the country are not rhetoric as Pakistan’s vibrant technology sector has grown significantly in recent years and is poised to further growth provided a congenial atmosphere is created for the purpose. The country produces over 20,000 IT graduates each year, has nurtured over 700 tech start-ups since 2010 and has the fourth highest earning IT work force in the world. As Pakistan is passing through one of the worst phases of its life, IT remains the only sector offering employment opportunities to the highly qualified youth and that is why more and more students are opting for IT education as against the previous trend of medicine and engineering. As highlighted by the OICCI, the potential is there and it can help the country tackle its economic and financial challenges but for that to happen we need to remove hurdles in the way of IT growth and provide incentives to the sector. Experts say there are three areas of action required for Pakistan to...
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