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Monday December 06, 2021

‘IT sector can contribute 19pc of GDP by 2030’

November 25, 2021
‘IT sector can contribute 19pc of GDP by 2030’

KARACHI: Pakistan’s technology services industry can achieve Rs9.7 trillion ($59.7 billion) in annual revenue by 2030 if the country develop infrastructure to support local tech ecosystem and export, according to a report by an industry body issued on Wednesday.

Google/P@SHA released the report ‘Unlocking Pakistan’s Digital Potential’.

President Arif Alvi said AlphaBeta’s finding that digital transformation has potential to add-up Rs9.7 trillion ($59.7 billion) in annual economic value in Pakistan by 2030 is encouraging.

“Realizing this goal and the vision of Digital Pakistan will require a whole-of-nation approach, from both the public and private sectors,” President Alvi said

“It is heartening to note that, according to AlphaBeta’s report, over 410,000 jobs are supported in Pakistan’s economy through the use of Google's products.”

Fraser Thompson, managing director AlphaBeta said Pakistan is home to more than 300,000 IT professionals, produces over 25,000 IT graduates annually, and has nurtured over 700 tech start-ups since 2010. He added that technology exports have grown 15 percent per year since 2020 and are expected to reach $3.5 billion in 2022. Pakistan’s online population has grown rapidly and the internet penetration rate is reaching 54 percent in 2021.

The report identified three main pillars of action Pakistan could take to reach the projected growth opportunity, which include developing infrastructure to support the local tech ecosystem, continuing to create a conducive environment for IT export, and promoting innovation and digital skills in the country.

The researchers have identified eight key technologies that hold transformative potential for businesses and workers and can create significant economic value for Pakistan.

These include mobile internet, cloud computing, big data, Artificial Intelligence (AI), fintech, Internet of Things (IoT) and remote sensing, advanced robotics, and additive manufacturing.

Farhan Qureshi, regional director Google, said despite setbacks caused by the pandemic, the future for Pakistan's digital economy is bright.