Software technology parks

Federal Minister for IT and Telecommunication Syed Aminul Haque announced during the inauguration of the Amazon Software Technology Park in Rawalpindi that efforts are underway to double the number of software technology parks in the country to 40 by next year.

Read more: Government to Invest PKR 31 Billion to Establish IT Park in Karachi

Software technology parks to boost the tech industry

While addressing the inauguration, the minister highlighted that the expansion of software technology parks would focus on secondary cities and towns. He said; “Currently there are 22 software technology parks operating in the country and by December 2022, this number will increase to 40. The expansion is mainly in second-tier cities and towns.”

He said that the initiative will enable the development of the tech industry across the country. The minister said the most significant benefit of this policy is focused on women empowerment. A large number of females can work as freelancers or on a project while remaining in their homes. While sharing a few statistics, the Minister told that around 110 million citizens of the country have access to the internet, and there are more than 500,000 IT professionals in Pakistan. In addition to that, 25,000 IT graduates are entering the market each year, which indicates that Pakistan has got a competent and huge workforce.

A huge influx in startups

The minister stated that the initiative has significantly increased the number of registered companies and startups from less developed areas including Bhakkar, Bannu, Dera Ghazi Khan, Gilgit, Khanewal, Kohat, Mithi, Mansehra, Layyah and Muzaffarabad.

A funding frenzy in Pakistan’s startup scene this year has seen investments cross $300 million after two e-commerce companies raised fresh funds. The South Asian nation has seen more money flow into its nascent technology sector during 2021 than in the previous six years combined. Many global venture capital firms have invested in Pakistan for the first time in the current wave.

Source: DAWN


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