Prime Minister Shaukat Aziz on Tuesday said that Information Technology (IT) industry, which was virtually non-existent seven years ago, has grown to be worth US $2 billion of which US $1 billion is export related.
The Prime Minister made these remarks while presiding over a meeting held here to review the profile and performance of the country's IT industry.
Shaukat Aziz said that information and communication technology is the wave of the future and Pakistan is well positioned to become a major global player.
He said that US $10 billion is our export target for IT and telecom services which will be achieved by developing adequate human capital, improved fiscal regime, necessary infrastructure and an enabling environment for ICT companies. The Prime Minister said that the sector is open to local and foreign companies.
He approved in principle the setting up of a Venture Capital Fund in the private sector.
The Prime Minister said IT Ministry should make efforts to attract venture capital in the IT sector and reputed international companies should be approached for this purpose.
Shaukat Aziz said that all-out efforts are needed to provide IT skills to the youth as Pakistan will need 2,30,000 trained IT personnel by 2010. Presently, the sector employs 90,000 professionals, he said. Shaukat said that the IT industry is growing at 50 percent per year, which is truly phenomenal and one of the fastest in the world.
He said there is a need to promote the vast potential of software export and also to promote domestic software houses, which is a huge source of job creation. The Prime Minister said that the services and expertise of the Pakistani community living abroad should be leveraged to further expedite the growth of IT in the country.
Shaukat Aziz appreciated the excellent work done by the ministry to promote IT industry in the country. Minister for Information Technology Awais Ahmed Leghari informed the meeting that the IT Ministry has set up a special fund to provide and enhance IT skills to the youth.
He said that the Ministry has an excellent internship programme under which IT companies are imparting training to the youth, expenditure for which is being borne by the Ministry. All IT related services have also been outsourced, he said.
Managing Director of Pakistan Software Export Board Yousaf Hussain in his presentation informed the meeting that the IT sector comprises over 950 companies of which 125 are either ISO certified or CMMI appraised. He said that bandwidth consumption in Pakistan has increased from 800MB in 2003 to 2.5GB at present.
The meeting was attended among others by Minister of State for Information Technology Ishaq Khan Khakwani, Secretary IT and Telecommunications Farrakh Qayyum and senior officials.
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