Prime Minister has inaugurated the first-ever ‘Digital City’ in Haripur. The establishment of the Pakistan Digital City Special Technology Zone will go a long way in enabling innovation in the tech industry and encourage innovation and research in the IT industry.
The IT industry is making huge strides and is one of the fastest-growing in the country but it contributes only 1% to the country’s GDP. It has enormous human capital and knowledge, producing over 20,000 graduates every year. Official data reveal that IT exports have grown by more than 39% in the current year and the government is struggling to boost tech sports to $3.5 billion by offering more incentives.
The goal is not idealistic and Pakistan has long way to go as compared to other countries. The IT industry in India accounts for 8% of the country’s GDP. Their IT exports are estimated to reach a whopping $150 billion in the fiscal year and have boomed in the last two decades. The domestic IT industry there is estimated at $45 billion and employs 4.5 million people.
Many Indian cities such as Bangalore, Chennai and Hyderabad have become the hub of technology and are home to some of the largest companies in the world. In the contemporary world, India is now considered a leader in IT exports and its graduates are heading some of the world’s largest IT firms including Google, Microsoft and Twitter.
Prime Minister Imran Khan had admitted that Pakistan has fallen behind in comparison as our IT exports have managed to reach just $2 billion. Pakistan has unfortunately failed to pick pace in the technology sector despite having ideal condition and a young population. The lack of incentives and an outdated system have lagged the IT sector in the country.
Pakistan has not yet come up with an answer to the ‘Silicon Valley’. The fourth industrial revolution is taking place and the size of the digital economy has reached an astounding $11.5 trillion, equivalent to 15.5% of the global GDP. It is hoped that the creation of Special Technology Zones across the country will lead to the advancement of the IT industry as we cannot be left behind in the fast-paced digital economy.
