IT park in Islamabad to generate 15,000 jobs

 
 
 
IT park in Islamabad to generate 15,000 jobs

The IT sector of Pakistan is going through an emerging phase. The sector contributes around 1% to the country’s GDP at about 3.5 billion USD (Dawn, 2022). Its growth has increased twofold in the past four years and is expected to grow further in the next two to four years to $7 billion. IT exports were recorded to be the highest in history at $1.067 billion in the fiscal year 2017-18 (The News, 2022).                                                              

Moreover, Pakistan’s software exports are currently worth $700 million, according to the State Bank of Pakistan (SBP). However, the country’s freelancers also earn another $1.2 billion in exports (The News, 2022). To achieve Pakistan Vision 2025 and the Digital policy of Pakistan 2018, the ICT industry size is targeted to reach $20 billion by 2025. 

To utilise the full potential of the IT sector, the government is planning to establish an IT park in the suburban area of Islamabad. The project will be completed with a total cost of Rs 13.72 billion and will generate around 15,000 jobs for IT experts, students, and professionals. 

The main objective of the park is to mitigate the shortage of infrastructure for the IT sector and facilitate technology transfer through industry and academia linkages, support technology commercialisation, links tertiary education and production, and promote research and development, besides enhancing IT exports and industry competitiveness. 

The park will also help improve the formation of IT clusters, increase export revenues and showcase Pakistani innovations and services in the IT sector before the international audience and customers. 

In Pakistan, Information technology has been impacting businesses greatly and has achieved a central enabling role in a knowledge society and economy’s emerging dynamics. It is a driving tool of economic development.  Digital growth in Pakistan is going through a rapid evolution. 

The rapid adoption of Information and Communication Technology (ICT) is essential for the country’s socio-economic development. In the spirit of democratic governance, the government needs to devise further revolutionary policies, and a visionary approach to enhance the growth of the Pakistan Economy.

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IMARAT Institute of Policy Studies

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