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Build IT Parks – A Strong Economic Development Loan in Pakistan

Build IT Parks - A Strong Economic Development Loan in Pakistan

Pakistan’s IT industry has the potential to become a major economic contributor to the country. Pakistan has only 125 companies certified by CMM and ISO that guarantee timely delivery and efficiency.

Pakistan can establish its name as a leader in quality software and IT services around the world. Karachi, the “New York or Pakistan”, is a very convenient place to establish an IT park. The metropolitan area of ​​Karachi has a population of over 15 million, decades of IT departments and universities recognized by HEC and a large concentration of IT companies.

The city is also a center for travel and finance. Known for its seaport, it is the heart of the country’s economy.

Build IT Parks – A Strong Economic Development Loan in Pakistan

Build IT Parks - A Strong Economic Development Loan in Pakistan
Build IT Parks – A Strong Economic Development Loan in Pakistan

More than 100,000 trained professionals and a larger number of educational institutions add a large number of trained resources to the vibrant labor market in this area. This ensures that a pool of talented resources with exceptional skills is always available for this industry. But due to the lack of facilities and ample opportunities, most of the talents cannot contribute to the development of the country.

Technology IT parks offer organizations a trouble-free set of low cost, friendly policies. IT parks offer the latest office facilities and spaces with the goal of expanding IT companies and providing a comprehensive solution to configurations.

After 1970, many developing countries established technology parks at regional and national levels for regional and economic development by providing infrastructure to technology companies to create new jobs.

The main objectives for establishing technology parks include the flow of knowledge and the promotion of collaboration between industries and universities to create innovation companies, high technology jobs and attract foreign companies and investments in the country.

Pakistan’s current software exports are about $ 1 billion compared to Indian software exports of $ 111 billion. With a limited number of IT parks where fast internet access, 24-hour availability of electricity and secure sites are available, we have withheld the growth of the IT sector in Pakistan.There are only 8 IT parks in Lahore, including ARFA Technology Park, 5 located in Islamabad and Karachi none. Private companies have temporary facilities where building owners ensure electricity, security and fast Internet access uninterrupted 24 hours a day, 7 days a week, but the government does not provide such a facility.

Pakistan is at a decisive stage. The decisions made now will have a strong impact on Pakistan’s future. The need for the moment is to make Pakistan a service-based economy. The IT industry is an example of a service industry that can boost Pakistan’s economy significantly as other developing countries such as the Philippines, India and Singapore show.

The IT industry, unlike other industries, does not require heavy machinery. More than 100,000 people are officially employed in the IT industry of Pakistan and many more have been used informally. Unfortunately, the IT industry in Pakistan is not the same as the industry, for example, the textile industry and this, somehow, has impacted the development of the industry in the country.

Pakistan has only a share of 0.9 percent of global IT sector is about $ 303.8 million. If the government takes significant steps, you can have a big impact on GDP and foreign investment.

Despite the challenges facing the country, such as political instability, energy crisis and the lack of promotion, the IT sector of Pakistan has gained worldwide recognition. There are success stories in different IT domains such as mobile applications, health, finance and telecommunications.

According to reports from PSEB (Export Council software Pakistan), Pakistan’s participation in global sales of $ 2.8 billion, of which $ 1.6 billion represents IT services and export software from the country main focus Pakistan’s first high-end software products, while other developing countries such as the Philippines and India have focused on basic IT-enabled services, such as outsourcing and software support.

The Electronic Commission of India led the development work of the IT sector of India. the commission’s work was developed by the UNDP (United Nations Development Program) and a master plan for local computer centers.The core of the work was the development of knowledge and intellectual capital. Today, India shares 39.2% of the global IT industry.

The industry continues to develop and every year, around 230,000 jobs are generated. India’s IT industry offers nearly 2.8 million direct jobs and 8.9 indirect jobs. Pakistan’s Ministry of Telecommunications and IT can benefit from supporting major international organizations to build similar regional IT parks.

Another developing country where the development and promotion of IT services has played an important role in developing the country’s economy is the Philippines. Since 2006, the Business Process Outsourcing (BPO) industry in the Philippines has developed 46% annually and surpassed the IT sector in India.

The IT sector in Pakistan has great potential. However, there is an important need to develop IT and promotion parks to strengthen the country’s economy and compete with other developing countries.

Issues such as the lack of world-class research and development, the absence of cutting-edge infrastructure and pay-holes, etc., have caused problems in developing this industry.

With a clear vision, strategy and direction, the IT industry in the country can grow and generate more jobs and alleviate the country’s poverty. The development in Pakistan’s IT sector will attract foreign investment in the country, which will also impact on other industries.

The establishment of technology parks is essential for the economic development of the country. Technology software parks can be useful for creating new businesses and attracting foreign investment. The results show that half of the companies in established technology parks are new companies.

The IT parks already established in Pakistan are small in the area, compared to other Asian counterparts such as India, China and Korea.

This study shows that creating new businesses, raising new jobs and boosting the country’s GDP, requires the government to establish more IT parks and promote research and development in the country.

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