Overcoming current account deficit by boosting exports and creating more employment opportunities for the youth in the technology sector are the main objectives of setting up a Technopolis in Lahore, according to Prime Minister Imran Khan. Reportedly, the government plans to establish technology parks, software houses and manufacturing units across the country. At the inauguration of the Technopolis, the PM highlighted Pakistan’s technology-based export earnings which could reach only $2 billion compared to Indian tech exports that boomed to $150 billion. It shows that there is a huge gap as Pakistan has to create an environment for boosting a technology driven market and creating awareness among the youth about this new employment sector.
In this regard, the establishment of Technopolis in Lahore is a good initiative as it could enable Pakistan to join the tech race and provide employment to a large number of people. Pakistan is already striving hard to earn its share in this age of technology as the world is becoming more dependent on digital economy and its use in almost all spheres of life. The government needs to facilitate investors to make ventures with local partners in Pakistan and take advantage of this growing market in Pakistan. Along with setting up a technology park, Pakistan needs to invite the technology giants including eBay, Amazon, etc. to Pakistan. Already, the local start-ups using different technology driven apps have made a considerable impact on the economy and created a large number of job opportunities.
Following the auction of 3G/4G licenses in 2014, internet penetration has increased manifolds, and the latest figures suggest that approximately 37 million people are using the services which are expected to grow further in coming years. With the expansion of the internet user base, the e-commerce market has grown considerably. These developments augur well for the future of the country. The incentives related to the use of modern IT technology are immense and Pakistan has the opportunity to win its share.