Daily Times

KARACHI: The Ministry of Information Technology should mull over every possible corridor to invite foreign investment in Information Technology (IT) sector, which needs to expand, experts say.

The private sector is ready to play every possible role in this regard and the stakeholder are interested the government should provide them incentive so that they can, through joint collaboration, sign accords to promote this sector.

Experts believe the investment should be used for the development of mobile applications, business consultation and system integration across Pakistan’s IT industry as this would also assist in nurturing fresh graduates and businesses alike.

It is believed that quite a number of business ideas succumb to being divested because of a lack of substantiated finances. Through investments, the business opportunities are not left untapped. There is no dearth of talent in Pakistan and such collaboration would help facilitate sector and people as well.

With the recent upward growth trend observed in various industries, this development and investment in the IT sector specifically will help country in reaching a global standing.

One of the key features of determining a country’s progress is its rate of technological advance and its contribution in the global business market, says Noman Saeed, an expert in IT business.

Iain Stewart, director of a foreign IT firm, says, “I believe this will benefit us and the stakeholders and in this way we will bring our expertise in Pakistan, thus, delivering an excellent product.”

Stewart is currently working for a United Kingdom-based consultancy with vast experience of building security response systems.

Carel Fredrick, another IT expert who has in-depth knowledge in the field of architectural design, is of the view that investment and expertise would bring innovative solutions towards the development of Pakistani infrastructure and crisis management.

In a recent development, an agreement has been signed between SSC Global Limited and Monolith Risk for the allocation of funds for medium term projects, amounting to Rs 1.15 billion.

Concerning the sustainability and growth of the IT industry with respect to its potential and foreseeable contribution in the global market, inviting experts from across the world will give a boost to Pakistan’s IT sector.

There is room in professional expertise in application services, cloud solutions, high-end servers, managed services and outsourcing, mobility/end-user services, security solutions, service management and social business. Foreign investment would help in customising services to governmental, corporate, defence, telecom, financial, education and private sectors.