Daily Times

Information and Communications Technology has been the fastest-growing segment in Pakistan over the past few years. Between 2019 and 2022 alone, the industry has grown by a staggering 150 percent, a figure that is larger than any other industry in the country during this time. In the last six months of the year 2022, ie between June and November, the industry averaged 6 percent growth which still offers impressive prospects for the future.

There are several factors that are fuelling this growth. The wealth of IT professionals specialising in a diverse array of in-demand skills, educational institutions offering courses tailored to modern markets and local organisations creating a more conducive atmosphere for growth are three main catalysts in this equation of progress at the moment.

Statistics show that currently there are more than 2,000 IT firms in the country that are driving the growth of exports from the country. Simultaneously, there are in excess of 300,000 IT professionals with expertise in areas like software development and engineering, data sciences, web design, and various other domains relevant to the field of technology.

And it doesn’t just stop there. Every year, educational institutions across Pakistan are graduating 20,000 students in IT, engineering and technology to fill the gaps in supply and demand in the rapidly growing industry.

Globally, technology is playing a decisive role in revolutionizing almost every aspect of business. Most nations look to countries like Pakistan to facilitate the provision of numerous solutions like comprehensive platforms for operations including eCommerce, data analysis, automation, and information dissemination. The same is also true for other areas like mobile application development, gaming and design.

These realities shed light on not just the potential in the industry for growth but also the opportunities that continue to arise for graduate students and professionals in these areas. Recently, Pakistani organisations have started setting new precedents in the industry that further expand the avenues that are available for graduates today. For instance, recently Jaffer Business Systems (JBS) became the first local company to acquire a chip verification start up that emerged in Silicon Valley.

Called Impare, the venture from the US was founded with the goal of creating a verification centre of excellence in Pakistan and training local students to work with top US companies to meet the growing demand for verification engineers.

Chip verification is expected to become a $16 billion sector in the coming five years. With massive demand and a relatively short supply of skilled labour in the area, it is a prospective market for students who are looking to explore fresher opportunities in segments that are extremely in demand at present with sustainable development in the future.

“Our strategy of start-up acquisition resonates around our “Purpose” to facilitate a broader, stronger, entrepreneurial network in the country – which is futuristic, innovative, and blends well with new ways of driving our economy,” commented JBS CEO, Veqarul Islam. He outlined an objective that is holistic and boosts the chances that are available for youth in the country.

Developments like these signal a vision of the future for Pakistan’s ICT sector. It is a beacon that shows where the segment of technology exports is heading and how it will revolutionize not just the economy but the field of employment for youth in the country, who are indeed the flag bearers for change and poised to leading the nation towards new heights in the future.