Renowned information technology expert and entrepreneur of Pakistani origin, Noman Said, has put forth a compelling perspective, asserting that the information technology sector possesses the potential to revolutionize Pakistan’s economic landscape. This projection hinges on Pakistan’s active participation in a highly significant global event, the 23rd Edition of ITCN Asia, scheduled to transpire from August 30 to September 2 in Karachi. A multitude of IT enterprises, including Pakistani IT services exporters, are poised to partake in this event, facilitating the exchange of ideas and fostering collaborations.
In his insightful analysis, Said posits that the information technology industry stands as the sole contender capable of steering the nation towards rectifying the trade deficit, stabilizing the rupee-dollar exchange rate, generating substantial employment opportunities, and elevating Pakistan’s global perception.
Drawing from his extensive experience and interactions within international markets, Noman Said radiates optimism, highlighting that Pakistan could conceivably amass export orders worth an impressive $100 million by showcasing the immense talent harbored within the country.
Delving deeper into his vision for the industry’s prosperity, Noman Said delineates the prerequisites that must be addressed by the government in order to provide Pakistani IT companies with an equitable competitive landscape, both on regional and international fronts:
Said proposes a pivotal step—declaring the IT industry as irrevocably tax-free for an extended period of ten years. This bold measure seeks to provide a stable and favorable taxation environment for IT businesses, irrespective of shifts in the governing regime.
The entrepreneur advocates for the implementation of a flexible foreign exchange regime tailored to the unique needs of the IT industry. This approach would empower IT firms to efficiently utilize their earnings in foreign currencies, as the industry’s operations are intricately entwined with the global financial system.
Noman Said calls for collaborative efforts from vital institutions such as the State Bank of Pakistan (SBP), 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 fortify Pakistan’s IT prowess, Noman Said recommends that the Ministry of Information Technology and Telecommunication (MoITT) spearheads 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.
Notably, 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. These advancements in turn catalyze growth across various sectors, 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 not only in rectifying fiscal imbalances but also in 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. The stage is set for Pakistan to ascend the echelons of technological innovation and economic resilience, underlined by Noman Said’s visionary stance.
Noman Said’s compelling vision for Pakistan’s information technology industry envisions a transformative shift that transcends economic parameters. The convergence of his proposals underscores the broader implications of bolstering the IT sector. A tax-free environment coupled with an adaptive foreign exchange system can attract substantial foreign investment, catalyzing not only economic growth but also 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 soft image of the nation onto the world map.