HYDERABAD: Muhammad Farooq Shaikhani, President, Hyderabad Chamber of Small Traders & Small Industry, emphasized that the global shift towards IT and e-commerce is transforming economies, offering a robust alternative to traditional natural resources.
He highlighted the remarkable achievements of neighboring nations, noting that India’s IT exports are projected to reach $194 billion in 2024, while China’s exports are expected to surpass $1.2 trillion. In contrast, Pakistan’s IT industry has only earned few billions.
Shaikhani urged the government to unveil a comprehensive strategy to position Hyderabad as a premier IT and e-commerce hub. He pointed out that the region already boasts prestigious institutions like ZABIST, FAST, NIC and Universities, which are spearheading IT and technology education. By uniting these educational powerhouses on a single platform, Hyderabad has the potential to become a world-class IT business center.
Shaikhani affirmed that Hyderabad possesses the full potential to emerge as a premier hub for IT and software businesses. However, he stressed that this potential can only be realized with robust support and effective policies from the government. Shaikhani has called upon both Federal and Provincial IT Ministers to visit Hyderabad and assess its resources, ensuring that the region is developed in line with contemporary IT sector demands.
He further highlighted the need for targeted training and opportunities for the youth of Hyderabad and interior Sindh in IT and e-commerce, enabling them to integrate into the global market effectively. Drawing a comparison with neighboring countries such as China, India, and Bangladesh, he noted their successful IT sector advancements and global competitiveness. These nations have made IT education a priority and offered substantial incentives to IT companies at the government level. Shaikhani emphasized that Pakistan must adopt similar policies to foster the growth of its local IT industry.
He addressed the pressing issue of payment security for freelancers, noting a 47% increase in freelancer income in Pakistan over recent years. Despite this growth, many freelancers keep their earnings abroad due to concerns about payment security. He urged the government to ensure secure payment systems for freelancers, which would encourage them to bring their earnings back to Pakistan. This move could significantly stabilize the country’s economy and alleviate the dollar shortage. He appealed to both federal and provincial governments to support youth through initiatives like Bano Qabil, offering them future business opportunities and guidance.
Shaikhani highlighted the necessity of key facilities to establish Hyderabad as a leading IT and e-commerce hub, with high-speed and reliable internet connectivity being paramount. The IT sector cannot thrive without a robust digital infrastructure. Additionally, he highlighted the importance of creating Special Economic Zones that offer tax exemptions and incentives to IT companies. He also called for modern technology courses and training programs in educational and IT institutions to prepare students and freelancers to meet global standards.
Copyright Business Recorder, 2024
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