KARACHI: Atif Ikram Sheikh, President FPCCI, has demanded that Karachi needs Software Technology Park (STP) to help create enabling environment for the export of IT and IT-enabled Services (ITeS). It is a longstanding demand of the megacity as it grapples with infrastructural challenges to materialise its potential in IT exports and attract investments into the industry on a large-scale, he added.
It is pertinent to note that Abu Bakar, CEO of Pakistan Software Export Board (PSEB), visited FPCCI Head Office in Karachi to discuss facilitation of business, industry and trade community to invest in IT companies to boost country’s exports.
Atif Ikram Sheikh reiterated FPCCI’s stance that Pakistan needs to diversify and expand its exports basket; and, IT is the industry which can deliver the results for the country in the shortest possible time as it has the most efficient turnaround time. Additionally, IT industry is the only industry in Pakistan with a potential to achieve exponential growth in its exports.
Saquib Fayyaz Magoon, SVP FPCCI, apprised that FPCCI and Sindh Higher Education Commission (SHEC) have joined hands to organize first-of-its kind technology start-ups showcase to generate investments for the viable start-ups; and, promote them on a national and international scale. We are also going to have full support of Pakistan Software Houses Association (P@SHA) and PSEB in this regard, he added.
Magoon stressed that FPCCI and IT industry should aggregate their budget proposals and policy advocacy efforts to introduce transformational and change-making policy reforms vis-à-vis IT industry in a macroeconomic framework through federal budget 2025 – 26.
Aman Paracha, VP FPCCI, proposed that PSEB should come forward with a tangible plan to give awareness to traditional business groups of Pakistan to diversify into IT industry. We are willing to venture into IT industry in order to diversify out of our customary businesses; nevertheless, there should be governmental support in terms of facilitative policy framework, clarity and consistency in policies.
Zohaib Khan, former Chairman P@SHA and senior member FPCCI, proposed an alliance between IT-related central standing committees of FPCCI as well as business councils and PSEB. We need to have a joint working group of PSEB and FPCCI with objectives: (i) to act as a matchmaking platform between IT industry and business community for investment and collaboration (ii) exploring untapped avenues in important export markets like U.S., Europe, GCC and beyond (iii) recommend swift visa issuance to embassies for the genuine IT exporters, service providers, exhibitors and professionals from Pakistan (iv) create awareness on STPs and special technology zones (STZs).
Abu Bakar, CEO of PSEB, agreed with FPCCI’s principled demand to establish Software Technology Park in Karachi with subsidized services to tenant IT companies. We are working aggressively to establish a large STP in Karachi to match its enormous, young, skilled and motivated workforce, he added.
CEO PSEB highlighted that IT companies internationally are owned by big business and corporate groups – a phenomenon amiss in Pakistan – as it enables rapid provision of funds and expansion of these companies. We need to bring in private-sector, domestic investment into the IT industry of Pakistan, he added.
Copyright Business Recorder, 2024
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