Pakistan’s thriving technology sector Can add Rs. 97 trillion to annual economic value : Report
• The report, “Unlocking Pakistan’s Digital Potential” — prepared by economists at The AlphaBeta— finds that Pakistan has a thriving technology sector.
• Report claims Pakistan has the potential to go further in its digital transformation journey despite many achievements is has made already.
• President Arif Alvi says he is amazed by the report’s finding about the potential of digital transformation in adding to country’s economic value.
Digital transformation can help Pakistan unlock up to Rs. 9.7 trillion ($59.7 billion) in annual economic value by 2030, equivalent to about 19 percent of the country’s GDP in 2020, according to a new report commissioned by Google.
The Report states, “Technology exports have grown 15% per year since 2020 and are expected to reach $3.5bn (Rs610,750,000,000) in 2022. Pakistan’s online population has grown rapidly and the internet penetration rate is reaching 54% in 2021.”
Three Main Pillars of Action
The report claims that Pakistan has the potential to go further in its digital transformation journey. It identifies three main pillars of action Pakistan could take to reach the projected growth opportunity, which include developing infrastructure to support the local tech ecosystem, continuing to create a conducive environment for IT export, and promoting innovation and digital skills in the country.
President Alvi is amazed by the report
The report was released at a recent online event organised by Google and Pakistan Software Houses Association ([email protected]), which was attended by President Arif Alvi, Google’s regional director for Pakistan, Bangladesh and Sri Lanka Farhan Qureshi and others.
Alvi said while speaking at the event that he was amazed by the report’s finding of the potential of digital transformation in adding to the country’s economic value.
President Arif Alvi said, “Realising the goal and the vision of digital Pakistan will require a whole-of-nation approach, from both the public and private sectors. The efforts of groups like Google and [email protected] will be key.”
Farhan Qureshi in his address said that despite the setbacks caused by the pandemic, the future for Pakistan’s digital economy is bright. He further stated that in order to be effective, digital transformation has to be inclusive and it is essential to make digital training opportunities accessible also to underrepresented communities and vulnerable groups.