in Finance, New In Pakistan, News, Technology

Need Of The HOUR: Investing In Technology And Digital Transformation

The BOI had organized a roundtable for the Pakistani tech industry to bring together the policymakers, business communities, and potential investors to explore new avenues to enhance business and investment.

BOI

The Government of Pakistan has been keen on providing platforms to investors to expand their business. There is a welcoming gesture for foreign investors to invest in Pakistan. Opening Pakistani soil for global business will earn us a place globally. In the era of Technology, nations need to invest in Digital Transformation. Otherwise, they will lag, and the world will move on.

Technology is essential in today’s world, and we cannot survive without it. Because the fields are technologically advanced, the digital footprint needs to be strong. Digital Transformation is the future.

Ehsan Saya – the MD Daraz is also playing a major role in the digital transformation in Pakistan. The company has managed to make it’s mark not only in Pakistan, but also Nepal, Sri Lanka, Bangladesh, and Myanmar. His aim is to empower Pakistanis and is doing everything in his power to achieve this.

Another notable mention is Asif Peer – CEO of Systems. He wants to create more job opportunities for the people of Pakistan, while working in the public center to increate foreign investment. Mr. Asif Peer wants to inspire and motivate the aspiring youth working in the field of technology.

BOI Members

The board of investment has been very active in the past few years. The members include Imran Khan, Shaukat Tarin (Minister of Finance and Revenue), Abdul Razak Dawood (Advisor to the Prime Minister on Commerce and Investment), Makhdoom Khusro Bukhtiar (Minister of Industries and Production), Hammad Azhar (Minister of Energy), Muhammad Azfar Ahsan (MOS/Chairman, BOI), and Fareeha Mazhar (Secretary BOI).

Tech Roundtable

The BOI had organized a roundtable for the Pakistani tech industry to bring together the policymakers, business communities, and potential investors to explore new avenues to enhance business and investment. The inaugural session included addresses by Muhammad Azfar Ahsan (Minister of State & Chairman), Ms. Fareena Mazhar (Secretary BOI), and Abdul Razak Dawood (Advisor to Prime Minister on Commerce & Investment). There were three sessions at the roundtable: e-commerce, connectivity and telecommunications, and IT exports. Some of the renowned speakers included MD Daraz.pk, CEO Jazz, CEO Telenor Pakistan, President & Group CEO, PTCL Group, and Chairman Infotech Group.

“Pakistan Regulatory Modernization Initiative” (PRMI) is led by BOI, which will help in transforming the regulatory landscape. According to Azfar Ahsan, the Pakistani IT sector offers local and foreign investors incentives. The business should find approaches to make the best use of the platform.

Ms. Fareena Mazhar gave a brief preview of BOI. The Government has been introducing digital, e-commerce, and national cyber security policies to create a safe environment for investors. In recent years, freelancing has been on the rise in Pakistan. More than 3,000 international technology firms are registered with SECP. There is also a tax exemption of 10 years to help them grow and expand their business.

Micro Small and Medium Enterprises (MSMEs)

Abdul Razak Dawud told the audience that Micro, Small, and Medium Enterprises (MSMEs), that use e-Commerce platforms are five times more likely to export than traditional platforms. He emphasized that Pakistan needs to focus on IT exports. He is hopeful that Pakistani youth has a bright future ahead of them.

These kinds of roundtables help in providing opportunities to the IT sector. He assured that the Government will collaborate with all the stakeholders to support the development of the IT sector to ensure export-led growth.

One of the key takeaways from systems CEO’s speech was ‘Think Big, Think New, Think quick.’ Having heard this, we felt inspired to the core and really do believe that this is the way forward.

The Neemopani Team was there, and it was a great learning experience. We hope such roundtables are organized more often where we sit together and discuss ideas making Pakistan progress.

We hope and wish that Pakistan stands with the tech giants one day and rules the region!

Also read: https://neemopani.com/it-ministry-to-double-the-software-tech-parks-in-pakistan/n

Written by Shaheer Ahmed

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