ISLAMABAD, August 26 2005: Prime Minister Shaukat Aziz on Thursday August 25 said the government would encourage the IT industry which has tremendous potential of growth, both in terms of creating opportunities and increasing jobs and exports. He was addressing representatives of Pakistani Information Technology Companies at the Prime Minister House here.

The Prime Minister described the human capital as the key driver of growth in the IT sector. Pakistan did not lack talent and the government would ensure that this talent was nurtured and trained to meet the growing needs of IT in Pakistan, he added.

The Prime Minister said that the government would also contribute in setting up a Venture Capital Fund that would allow the industry to have access to the capital that they require for their business.

Talking about the recent internet connectivity problem, the Prime Minister said that apart from the current submarine cable, two additional cables would become operational, one by October 2005 and the other by February 2006, to ensure uninterrupted connectivity.

The participants informed the Prime Minister that the industry was experiencing a sever shortage of IT professionals and that the universities and colleges be directed to increase the number of IT graduates both to meet the current demands as well as future requirements.

The Prime Minister was also informed that the IT industry was fast growing and currently employed 8000 people with annual revenue of over 100 million dollars.

The Prime Minister responding to the issues raised by the industry said that the government was establishing IT Parks in Lahore, Karachi and Islamabad where state of the art facilities will be made available.

The Prime Minister also assured the industry of extending all possible help for their branding, marketing and packaging to put Pakistan IT on world map.

The Prime Minister said that Pakistan has to become a preferred destination for strategic outsourcing and business processing, local and foreign entrepreneurs to promote this business.

Pakistan has the entrepreneurial talent and operational ability to gain market share, he added.

The Prime Minister said that the Ministry of IT and Pakistan Software Export Board (PSEB) would follow up all the suggestions made during the session and he would meet the group again after three months.
Source: Business Recorder
Date:8/26/2005