'ICTs have a positive impact on markets'

Information and Communication Technologies (ICTs) have a positive impact on markets and diffusion of innovations is a key to spread new technologies for the development of modern societies. This was stated by Chairman Pakistan Telecommunication Authority (PTA) Dr Mohammed Yaseen, while inaugurating "Social Innovative Fund" worth Rs 20 million of the Pakistan Software Houses Association (P@SHA) for IT & ITES here on Thursday.
"The fund will assist a lot in exploring the innovation in our society", said PTA Chairman, adding that the objectives of this fund is a new beginning of reaping the associated business, entrepreneurship and social benefits of this exponential ICT infrastructure of Pakistan. He said that the future of ICTs are likely to evolve two-fold in the shape of internet, where everyday objects could make online communication for dynamically exchanging resources, applications, services and knowledge.
Addressing on the occasion, Jehan Ara, President of P@SHA said that the fund get some creative juices flowing, spark the beginnings of a few unique solutions, finance some great ideas and provide mentoring to young people who have the passion, the talent and the motivation to make a social impact on our society.
She said that young people have innovative ideas and are able to identify and drive solutions that could tackle urgent social and community challenges. All they need is for someone to work with them to fine-tune and thrash out the ideas and a limited amount of capital to get the ideas off the ground. She said the initial seed money for the Fund has been provided to P@SHA by Google Inc in the form of a grant. As the Fund proves its worth, there is a likelihood of more organisations will add into it. She also appreciated the efforts of PTA in developing ICT market in Pakistan and providing support towards the launch of the fund.
Addressing the ceremony Badar Khushnood, Country Consultant for Google in Pakistan said that the grant was to support social entrepreneurship and innovation and was a natural follow-up to the US $1 million that Google had provided Pakistan as part of the flood relief effort. Member (Technical) PTA, Dr Khawar Siddique Khokhar, Member Finance (Acting), Shabbir Ahmed, Jehan Ara, President of P@SHA, Badar Khushnood, Country Consultant for Google, MD PSEB Zia Imran and other senior officers of the Authority were also present on the occasion.