These 6 initiatives were discussed at 4th PITB Roundtable Conference

On 6th April, 4th PITB Roundtable Conference was organized where leading names from the technology industry of Pakistan gathered to discuss the problems prevailing in the IT and business sector.

The discussion at the PITB Roundtable Conference revolved around the following points:

1. Formation of National Entrepreneur’s Network (NEN)
2. Small cap IPO for startups to raise investments
3. Progress on Punjab IT Policy
4. Commencement of Pakistan’s first ever IT census
5. Establishment of IT advisory team
6. Establishment of e-Rozgaar training centers in 36 districts

1. Formation of National Entrepreneur’s Network (NEN)

The 4th PITB Roundtable IT Industry Conference resolved to launch National Entrepreneurs Network (NEN) to provide a forum for all leading incubators, accelerators and VC firms to join hands to further promote this fast evolving sector. National Entrepreneur’s Network (NEN) shall provide a collective voice to national entrepreneurial ecosystem.

2. Small cap IPO for startups to raise investments

Under the NEN, PITB partnered with Pakistan Stock Exchange (PSX) to introduce small cap IPO regime for startups to raise investment from the market. The platform for startups listing has been approved and with the help of PITB for data collection, it will be launched in a matter of few months. Small, Medium along with large sized companies will be able to go ahead with Initial Public Offerings (IPO) for raising investment from the market. The revenue window of the participating organization is expected to be between Rs.20 million to Rs.200 million.

3. Progress on Punjab IT Policy

Dr. Umar Saif announced that Punjab Information Technology Board has forwarded the Punjab IT Policy to P&D Department, which shall formally table the policy in front of the provincial cabinet. He apprised the participants that the policy is expected to be approved by the cabinet in four to six weeks.

4. Commencement of Pakistan’s first ever IT census

In the first phase, data from more than 3000 IT companies, 2500 partnerships and sole proprietorship, 750 startups and more than 5000 freelancers shall be documented

The Roundtable also marked a significant step in the history of Pakistan’s IT sector’s development by launching the first nationwide IT Census. Dr. Saif announced the commencement of the census drive, wherein the first phase data from more than 3000 IT companies, 2500 partnerships and sole proprietorship, 750 startups and more than 5000 freelancers shall be documented. Dr. Saif said that IT Census holds high importance for our IT sector by providing reliable and verifiable data to help make accurate projections.

5. Establishment of IT advisory team

Dr. Saif announced the establishment of IT advisory committees to provide a formal role for the industry, academia and other stakeholders in policy making. Under the umbrella of IT Advisory Committee five different committees are being set up with different agendas including:

1. IT Census Committee,
2. Industry – Government Liaison Committee
3. Academia – Government Liaison Committee
4. Digital Advocacy Taskforce
5. Human Resource and Capacity Building committee.

6. Establishment of e-Rozgaar training centers in 36 district

Dr. Saif also emphasized the importance of reducing the digital divide by promoting e-literacy with the establishment of e-Rozgaar training centers in 36 districts, which will train more than 10,000 graduates for online freelancing. He invited the industry members to contribute in the setting up of the local marketplace for these freelancers.

He also announced that PITB will partner with ITU and industry members to offer internationally recognized training and certifications to bridge the gap between labor force and the industry.