STAFF REPORT IBD: The IT industry can play a major role in bolstering the economy of Pakistan as demonstrated by countries like India, Philippines and Singapore. This local sector has started strongly emerging as a global IT destination, as over 100,000 people are officially employed in the IT sector of Pakistan and many more are informally employed. However, unfortunately this sector has not been given the same industry status as textile and other industries.
“There is a desperate need for foreign direct investments in the IT sector to give a stir in economic activities as Pakistan is still away from a service based economy,” said CEO NetSol Technologies while talking to media here.
According to him, Pakistan has mainly focused on higher end software products and solutions, whereas India and Philippines have grown in more basic IT enabled services, such as software and services outsourcing.
He mentioned that the persistent delay in the launch of 3G technology in the country is the major impediment in the way of growth and investments in the IT sector. It is a major concern that Pakistan, with teledensity of up to 63 per cent, is still uncertain about 3G, at a time when many nations in the world are considering 4G.
At the same, he said, the government needs to establish more IT universities, as the current employment in IT is far below than that of countries like Philippines that has over 1.8 million people employed in this sector.