Pakistan’s IT Sector contributing US $ 3.5 billion, almost 1% of the GDP, Amin Ul Haque

Syed Amin Ul Haque said that The World Economic Forum’s global crises report 2021, the World could face many risks & threats pertaining to price instability, debt crises, commodity shocks, digital power concentration & digital inequality. The good news is that Pakistan achieved a decent economic growth in 2021 despite those risks. This is due to the effective implementation of government policies and vision of the present government for prosperous Pakistan.
“During the outgoing year, an increase was observed not only in the yield of major crops but also in IT & ITeS exports. The IT Sector of Pakistan is contributing almost 1% of the GDP or almost around US $ 3.5 billion,” he added.

Syed Amin Ul Haque further stated that, Federal Ministry of IT & Telecom has been providing an enabling environment for all stakeholders of startup ecosystem to promote startup culture & attract foreign investments. Moreover, State Bank of Pakistan and the Securities and Exchange Commission of Pakistan have also relaxed rules for attracting investment in technology-based business solutions.
“As a result of these steps, investments in Pakistani startups have been at skyrocketing during 2021 and almost US $ 373 million have been raised by Pakistani startup, which is almost 5 times higher than last year’s investment of US $ 75 million.

Minister IT congratulates Secretary IT & Telecom and CEO, Ignite to sign the agreement with University of Sindh for provision of space at Elsa Kazi Campus for establishment of National Incubation Center, Hyderabad. He also congratulates Vice Chancellor, University of Sindh in entering an agreement with Ignite for establishment of NIC-Hyderabad.
In his address; Federal Secretary for IT & Telecom, Dr. Muhammad Sohail Rajput, congratulated Ignite and University of Sindh Hyderabad on signing the agreement and hoped that this partnership will be the beginning of a successful journey for the startups of Hyderabad. He said that there is an enormous potential in our youth and we are leveraging an enabling environment so that they can contribute towards national economy.

VC, Dr. Muhammad Siddique stated; the establishment of NIC is highly a praiseworthy step of the GoP to fill-up this need. In this regard, we are very thankful to the Federal Minister for IT & Telecom Syed Amin Ul Haque and his team for their kind efforts. “I believe that the collaboration between Sindh University and Ministry IT is timely and relevant,” VC added.
Earlier in his welcome address, CEO Ignite stated that Hyderabad has always maintained its identity in all walks of life despite being the closest district near Karachi and is the agricultural hub of Sindh. . Hence the city will maintain the same identity while having its own National Incubation Center. He said to further enhance the Prime Minister’s vision of a Digital Pakistan, NIC Hyderabad will be providing state of the art workplace besides offering world class mentorship and coaching, networking opportunities, access to customers and investors to startups.