Famous information technology expert in Pakistan’s tech industry and Pakistani-born entrepreneur Noman Said has presented a compelling perspective, asserting that Pakistan’s economic landscape could significantly transform through the information technology sector.
This projection is contingent on Pakistan’s active participation in the highly significant 23rd Edition of ITCN Asia, scheduled in Karachi from August 30 to September 2. The event will bring together numerous IT enterprises, including Pakistani IT service exporters, fostering the exchange of ideas and collaborations.
In his insightful analysis, Said contends that the information technology industry is the sole contender capable of steering the nation toward rectifying the trade deficit, stabilizing the rupee-dollar exchange rate, generating substantial employment opportunities, and elevating Pakistan’s global reputation.
Drawing from his extensive experience and international market interactions, Noman Said radiates optimism, highlighting Pakistan’s potential to amass export orders worth an impressive $100 million by showcasing the immense talent within the country.
Diving deeper into his vision for the industry’s prosperity, Noman Said outlines the prerequisites that the government must address to provide Pakistani IT companies with an equitable competitive landscape, both regionally and internationally:
Said proposes a pivotal step: declaring Pakistan’s Tech Industry tax-free for an extended period of ten years. This bold measure aims to provide a stable and favorable taxation environment for IT businesses, regardless of shifts in the governing regime.
The entrepreneur advocates for implementing a flexible foreign exchange regime tailored to the unique needs of the IT industry. Given the industry’s deep integration with the global financial system, this approach would empower IT firms to utilize their earnings in foreign currencies efficiently.
Noman Said calls for collaborative efforts from crucial institutions such as the State Bank of Pakistan (SBP), the Federal Board of Revenue (FBR), and the Securities and Exchange Commission of Pakistan (SECP). He emphasizes the necessity of consistent and facilitative policies that foster an enabling environment, nurturing the growth of the IT sector within the nation.
To bolster Pakistan’s IT prowess, Noman Said recommends that the Ministry of Information Technology and Telecommunication (MoITT) spearhead comprehensive national-level skills development initiatives.
These programs should encompass a spectrum of cutting-edge domains, including artificial intelligence (AI), game development, financial technology (FinTech), governance digitalization, blockchain technologies, and app development.
Significantly, Noman Said underscores that the Special Investment Facilitation Council (SIFC) has identified the IT industry as a primary focus area. He emphasizes that the industry’s potential extends beyond its direct impact, as its transformative effects encompass automation, digitization, and machine learning, catalyzing growth across various sectors and underscoring the IT industry’s role as a growth enabler.
Noman Said’s astute observations unveil a landscape rich with possibilities for Pakistan’s economic rejuvenation. As an industry luminary, Said’s assertions underline the significance of the information technology sector in rectifying fiscal imbalances and nurturing a sophisticated technological ecosystem that propels progress across diverse industries.
By embracing strategic measures such as tax exemptions, foreign exchange facilitation, consistent policies, and skills development initiatives, Pakistan stands poised to harness the full potential of its burgeoning IT industry, transcending national boundaries to emerge as a global IT powerhouse.
Noman Said’s visionary stance emphasizes that Pakistan is in a prime position to advance in terms of technological innovation and economic resilience.
Noman Said’s compelling vision for Pakistan’s information technology industry envisions a transformative shift transcending economic parameters. The convergence of his proposals underscores the broader implications of bolstering the IT sector.
A tax-free environment, combined with an adaptive foreign exchange system, can attract substantial foreign investment, catalyzing economic growth and fostering an environment conducive to innovation and research.
By unifying regulatory policies and equipping local talent with cutting-edge skills, Pakistan can effectively position itself as a hub for technological advancements, attracting global partnerships and collaborations.
Noman Said’s advocacy for the IT sector extends beyond immediate gains, encapsulating a trajectory that redefines Pakistan’s narrative on the global stage—one where innovation, ingenuity, and economic prosperity converge to project a positive image of the nation on the world map.