Tuesday, July 23, 2024
23.4 C
Chitral
spot_img
More

    Investment in the IT sector reaches up to $373 million: IT Minister Syed Amin Ul Haque

    Investment in the IT sector reaches up to $373 million: IT Minister Syed Amin Ul Haque

    Chitral Times Report

    ISLAMABAD: Federal Minister for Information Technology and Telecommunication Syed Amin Ul Haque has said that an agreement has been signed with Google for 45,000 scholarships, which will increase to 450,000 next year. The upcoming scholarships will include a 40/percent allocation for women. Previously, Google had provided only 15,000 scholarships last year, but the ministry interfered to increase the number through consultations. An amount of $1.6 million has been allocated to construct a building in NED Karachi for gaming and animation, which will boost the industry. He was addressing as Chief Guest the Startups Conference organized by the Korangi Association of Trade and Industry (KATI) here on Friday.

    The ceremony was attended by Deputy Patron-in-Chief Zubair Chhaya, Senator Abdul Haseeb Khan, Senior Vice President Nighat Awan, Chairperson of the Standing Committee Mahreen Salman, Administrator Korangi Sharif Khan, Former President Saleem-uz-Zaman, Masood Naqi, Razaq Hashim Paracha, Ehteshamuddin, representatives of universities, national incubation centers, students, professors, and startups in large numbers. Federal Minister Amin Ul Haque further said that the IT Ministry is working towards the vision of the IT industry in 2050. In Pakistan, the investment in 2020 was just $75 million, which increased to $373 million in 2021-22. Similarly, after the ministry’s efforts, the regulatory duty on mobile phones has been abolished since March 30.

    The Federal Minister for IT also added that as soon as he assumed charge a IT Minister, the Mobile Phone Manufacturing Policy was formulated to establish the mobile manufacturing industry in the country, and within a few months the production began. In this regard, 70 new projects were initiated with an investment of $75 million. He stated that by 2019, 160 million Sims were active in the country which increased to 200 million by 2020. Similarly, broadband access was available to 70 million people, which increased to 125 million. Amin Ul Haque also mentioned that today 8 National Incubation Centers are functional in the major cities of the country. He said that our focus is to promote startups, gaming, and the animation industry in the country.

    Former Chairman & Senator Abdul Haseeb Khan, has stated that entrepreneurs and startups are working very hard, but today startups do not require significant capital investment. He emphasized the importance of research and development in the IT sector, noting that startups are currently doing great work, which is essential for the industry. Deputy Patron-in-Chief Zubair Chhaya, mentioned that the production cost in Pakistan has increased significantly.

    However, the country lacks the facilities available as compared to the developed countries for startups. Chhaya added that when Federal Minister Amin ul Haq took charge, IT export was at the level of $1 billion, but at the end of the previous fiscal year, they had reached a record of $2.6 billion. While it is positive that Pakistan’s IT exports have increased, Chhaya pointed out that the neighboring country’s revenues were $149 billion last year, significantly higher than Pakistan’s.

    During the event, Maheen Salman, Chairperson of the standing committee, stated that their effort is to establish professional educational institutions with curricula that align with the industry’s needs. Previously, many people obtained degrees in large numbers but were unable to find employment. Now, the aim is to provide professional training according to the industry’s requirements through consultation with the industry. Senior Vice President of KATI Nighat Awan, took the opportunity to request the government to exempt duties on machinery and items used in the IT sector, allowing for the expansion of the IT industry in the country.

    spot_img

    Hot Topics

    Related Articles