Considering how rapidly technology is changing humans’ capabilities and transforming lives around the world, states can no more rely on concrete structures to propel their economies ahead. Pakistan has been slow in embracing technology in all its glory, but the country appears to be heading in the right direction. While motorways, bullet trains and seaports ensure a reliable communication infrastructure, the future belongs to technology, and the Pakistani government is moving fast.
Rather the government’s infatuation with infrastructure development has turned into a full-fledged love affair with information technology (IT). Pakistan has recently engaged countries like China, Sri Lanka and Malaysia to invest in the country’s technological pursuits.
Recently, officials from Pakistan and South Korea met to discuss the launching of a free trade agreement (FTA) to capitalize on each other’s geo-strategic strengths. As a result Seoul has increased its contributions to the economic development cooperation fund from $180 million to $500 million. With the fund, South Korea has agreed to establish an information and communications technology park (ICT) in Pakistan’s capital Islamabad. This project is mainly inspired by the successful operations of similar installations in South Korea.
Still, the most lucrative development project to fall into Pakistan’s lap is undoubtedly the $46 billion Pakistan-China Economic Corridor (CPEC) that will begin in China’s Xinjiang province and end up in the Pakistani port city of Gwadar. This project will not only help in developing physical and organizational facilities, but will also help Pakistan establish technology parks at viable locations, including the all-important Pak-China Science, Technology, Commerce and Logistic Park to be established in Islamabad at a cost of $1.5 billion.
For now, most IT related projects in Pakistan are based in Punjab. Major projects established here include Arfa Software Technology Park, Information Technology University and Punjab Information Technology Board’s Plan 9 initiative that provides a launching pad for technology startups. Such projects can have a positive impact on the local IT industry which has an immense potential to improve. Land records are being digitalized and police stations are being updated with technological wizardry, a marked improvement in the standard of public service.
According to Techjuice.pk, Pakistan’s share in the international IT sales increased to $2.8 billion in 2015. Of this, around $1.6 billion came through the export of software and IT related services.
Pakistani startups, who managed a mere $4 million in funding in 2014, successfully attracted funding of over $40 million in 2015, registering a tenfold increase and putting the country’s IT sector on the international investment radar.
The importance of advances made in the IT sector can be gauged from the fact that online portals are gaining good ground in the Pakistani tech market. Noted local startups like Careem raised $60 million, Zameen.com raised $29 million and Rozee.pk raised $6.5 million over the course of last year.
The Pakistani government’s invitation to Sri Lankan businessmen to invest in Pakistan, CASA 1000 initiative that will deliver 1,300MW of electricity to Pakistan and TAPI gas pipeline will all prove vital in not only ending international isolation of the country, but help it overcome chronic power shortfall.
With positive strides in the IT field in both public and private sectors, Pakistan can expect rapid progress in the sector in the next few years. Let’s hope the country keeps up the momentum for the good of its own and the world.
Featured image credit: shutterstock.com
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