Futuristic policies may enhance Pakistan’s IT export revenues to
between $10 and $18 billion by 2028, potentially establishing
Pakistan as global IT hub, CEO SRP Technologies tells the TFD
Muhammad Umar Waqqas
KARACHI: Pakistan’s IT sector has a promising future, brimming with talent, and potential to become the largest export industry of the country. Pakistan is the world’s 6th most populated and Asia’s 4th most populated country. The IT Sector is one of the fastest growing sectors of Pakistan, contributing about 1% of the GDP of Pakistan or almost around USD 3.5 billion. It doubled in the past four years and experts expect it to grow a further 100% in the next two to four years to about USD 7 billion. Pakistani youth is playing a vital role to run this high-voltage industry.
Umer Aziz, an experienced Karachi based IT professional and founder of SRP Technologies, his areas of expertise are Software Development, Emerging IT Technologies such as AI, Data Science, Development and Project management methodologies. Umer Aziz’s development agency offers various IT and digital services, creating customized solutions that propel businesses from striking websites and intuitive mobile apps to advanced AI & machine learning.
Speaking with TFD Umer Aziz says that “Any study of human development is quite incomplete without considering demographic transition; a phenomenon likely to have a profound impact on Pakistan’s future, given its young population. Currently more than 60% of our population is younger than 30 years out of which a major portion is aged between 15 and 25. Youth has incredible power to transform a Country’s future if trained rightly at the right time. We need to admit that Pakistan’s economic growth is directly linked with IT exports and training our youth for the latest IT Skills.”
He added “We should equip our genius youth with the latest IT skills. As the market trends change globally, Pakistan IT industry is also changing rapidly. We can remarkably increase IT exports in the coming years. We cannot just reap our share but we can also contribute our share to the World’s economy by providing quality training and learning opportunities to the youth.”
According to reports, In the fiscal year 2024, Pakistan’s IT exports reached $3.2 billion, a 24% increase from the previous year. In June 2024, IT exports increased by nearly $300 million, a 32.44% increase from the previous year. The majority of Pakistan’s IT exports are software and software-related, including computer software and software consultancy services. Other IT exports include hardware consultancy services, maintenance and repairs of computers, animation, gaming, systems integration, billing, and telemarketing services. According to the State Bank of Pakistan (SBP), IT exports for the first quarter (July-September) of the current fiscal year grew 34% from the same period of last year, to stand at $877 million. The growth came in the backdrop of a widening client base of exporters globally, especially in the Gulf Cooperation Council (GCC) region, relaxation in the permissible retention limit from 35% to 50% in the Exporters’ Specialised Foreign Currency Accounts and stability of the Pakistani rupee, which was an encouragement for IT exporters to bring back a higher proportion of their profits to Pakistan.
“When I say training, I don’t mean the traditional short courses or diplomas. We need to innovate and design programs strategically tailored to meet the demands of the global economy, particularly in IT, Software Development, and Artificial Intelligence (AI). Our focus should be on equipping Pakistan’s talented youth with cutting-edge IT and AI certifications, along with essential communication and leadership skills. As global market trends evolve, so does the IT and AI industry in Pakistan. By staying ahead of these changes, we can ensure our workforce is prepared to compete and excel on the international stage, driving growth and innovation in these transformative fields,” Founder & CEO of SRP Technologies Umer Aziz tells The Financial Daily.
