FPCCI stresses need for setting up software technology parks in Karachi

KARACHI: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Ikram Sheikh has called for the establishment of a software technology park (STP) in Karachi to create an enabling environment for the export of IT and IT-enabled Services (ITeS).

He said that this has been the city’s longstanding demand, which continues to face infrastructural challenges that hinder its potential in IT exports and its ability to attract large-scale investments into the industry.

CEO of the Pakistan Software Export Board (PSEB) Abu Bakar recently visited the FPCCI Head Office in Karachi to discuss facilitating business, industrial and trade communities in investing in IT companies to boost the country’s exports.

Sheikh reiterated the FPCCI’s stance that Pakistan must diversify and expand its export portfolio. He highlighted that the IT sector is uniquely positioned to deliver quick results due to its efficient turnaround time and its potential for exponential growth in exports.

Senior Vice President of the FPCCI Saquib Fayyaz Magoon shared that the FPCCI and the Sindh Higher Education Commission (SHEC) have joined forces to organise a groundbreaking technology startup exhibition. This initiative aims to generate investments for viable startups and promote them on national and international platforms. He added that the event will have full support from the Pakistan Software Houses Association (P@SHA) and the PSEB.

Magoon also highlighted the need for the FPCCI and the IT industry to consolidate their budget proposals and policy advocacy efforts. He urged for transformational policy reforms targeting the IT sector within a macroeconomic framework, particularly through the federal budget for 2025-26.

A software technology park in Karachi is seen as a crucial step to unlock the city’s potential in the IT sector and bolster the country’s overall economic growth.