Shehbaz Sharif targets $25bn IT export boom in five years

PM Sharif instructs immediate action to improve international payment gateways
An image of Pakistans Prime Minister Shehbaz Sharif speaks at the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. — Reuters
An image of Pakistan's Prime Minister Shehbaz Sharif speaks at the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. — Reuters

Prime Minister Shehbaz Sharif has set an ambitious goal of boosting Pakistan’s IT exports to $25 billion within five years. He stressed the importance of training the workforce and fostering collaboration among institutions to achieve this target.

During a review meeting in Islamabad on Friday, the IT ministry shared a detailed plan to meet this goal. PM Sharif highlighted the potential of Pakistan’s skilled workers and called for better resource use and education. He also committed to personally overseeing reforms to ensure progress in the IT sector.

“Pakistan has the talent to exceed $25 billion in IT exports by using resources wisely,” Sharif stated. He urged the Higher Education Commission (HEC) to create a plan that aligns local skills with global standards, especially to meet the growing demand for IT experts in the Gulf region.

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The Ministry of IT shared several reforms aimed at addressing key challenges. These include advanced training programs to prepare youth for global markets and steps to support freelancers through better remittance management. 

PM Sharif also instructed immediate action to improve international payment gateways, calling it a “key step” for progress.

The meeting also noted recent improvements in Pakistan's e-governance, which led to a 14-place jump in the global ranking. Over the past four months, IT exports have grown by 34%, and 2,500 new companies have registered, pushing Pakistan’s IT ranking from 79th to 40th worldwide.

With plans to generate $15 billion in IT exports, $1 billion from telecom, and $10 billion through digitalisation, the government is optimistic about transforming the digital economy.