A high-profile advisory council focused on IT and the Digital Economy has been established with the aim of significantly boosting the country’s digital economy, including a target of achieving $15 billion in IT exports over the next three years.
Promoting IT Initiatives and Investment Opportunities
Under the chairmanship of Prime Minister Shahbaz Sharif, the council comprises 31 members representing relevant ministries and the private sector. The prime minister unveiled various IT-related initiatives, emphasizing the Gulf states’ keen interest in investing in Pakistan, which is expected to yield substantial benefits from these investments. He called upon all stakeholders to collaborate and tap into the country’s potential to achieve remarkable progress.
Government’s Support and Partnership with Investors
Prime Minister Sharif assured the government’s commitment to act as a partner and catalyst, providing various forms of assistance to investors. The council was convened following a shortfall in IT exports during the outgoing financial year, a challenge that needs to be addressed before the current government’s term concludes in the coming months.
Charting the Course for Growth
The council’s terms of reference were outlined during the meeting, tasked with developing a comprehensive roadmap to attain the $15 billion IT exports target annually. It will analyze key growth areas, challenges, and devise strategies to overcome obstacles in the sector. Additionally, the council will assess disparities in the public and private sectors and propose effective measures to bridge these gaps.
Committees and Collaboration
To facilitate focused efforts and ensure timely progress, the advisory council may establish specialized sub-committees with specific timelines and scopes. Regular bi-weekly meetings will provide opportunities for active participation of council members, either in person or through virtual means. The Federal Minister will brief the Prime Minister on the council’s progress during these meetings.
Prioritizing Private Sector Input
Previous advisory councils have set ambitious targets for the economy and IT exports. However, this time around, the government is keen on valuing the input of the private sector, which had often been overlooked in the past. Exporters’ concerns and hurdles will be given due attention to avoid economic losses.
