Tuesday June 25, 2024

‘IT sector can help boost economy’

By Our Correspondent
June 07, 2023

KARACHI: Information technology (IT) can empower Pakistan's manufacturing and services sectors, enabling them to make significant strides and regain international prominence, an industry official said on Tuesday. Umair Azam, founder and CEO of Integration Xperts, a technology firm in Pakistan, said IT sector could play a vital role in revitalising the national economy. He was talking to a group of journalists.

“IT sector not only contributes directly to job creation and inflows but also supports local organisations in enhancing their efficiency and profitability, ultimately generating more revenues for the government, Azam said.

According to him, the sector has consistently increased its contribution to the GDP (gross domestic product) over the past decade, currently standing at one percent, with immense potential for further growth in GDP contribution and exports in the coming years. Azam mentioned that cloud-based solutions could provide cost-effective options for manufacturers to invest in business transformation, allowing them to pay only for the services they utilise, rather than purchasing expensive on-premises systems.