Atif Ikram Sheikh, the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for the establishment of a Software Technology Park (STP) in Karachi to foster a conducive environment for the export of IT and IT-enabled Services (ITeS). Sheikh emphasized that this has been a longstanding demand, as Karachi faces significant infrastructural hurdles that hinder the realization of its potential in IT exports and prevent large-scale investment into the sector.
The demand for a Software Technology Park comes at a crucial time, with Pakistan’s IT sector striving to overcome various challenges to enhance its export capabilities and attract foreign investments. Sheikh’s remarks came during a meeting with Abu Bakar, the CEO of the Pakistan Software Export Board (PSEB), who visited the FPCCI Head Office in Karachi to discuss how to better facilitate the business and trade community in investing in IT companies, with the goal of boosting the country’s export revenues.
At the meeting, Sheikh reiterated FPCCI’s stance on the need to diversify Pakistan’s export portfolio, with a particular focus on IT, which he believes holds the key to the country’s economic growth. He emphasized that the IT industry is uniquely positioned to deliver rapid results due to its efficient turnaround time, and its potential for exponential growth is unparalleled among other industries in Pakistan.
Saquib Fayyaz Magoon, Senior Vice President of FPCCI, added that the FPCCI, in collaboration with the Sindh Higher Education Commission (SHEC), is organizing a groundbreaking technology startup showcase. This event aims to generate investment for promising startups while also promoting them on both national and international platforms. He also highlighted that both the Pakistan Software Houses Association (P@SHA) and PSEB are extending their full support for this initiative.
Magoon urged FPCCI and the IT industry to consolidate their budget proposals and advocate for policy reforms to stimulate transformation in the IT sector. He called for these reforms to be incorporated into the macroeconomic framework for Pakistan’s federal budget for the fiscal year 2025-26, ensuring that the IT industry receives the necessary support to thrive.
Aman Paracha, Vice President of FPCCI, proposed that PSEB develop a comprehensive plan to raise awareness among traditional business groups about the benefits of diversifying into the IT industry. He stressed the willingness of many businesses to enter the sector but pointed out the need for government-backed policies that provide clarity and consistency to make such transitions viable.
Zohaib Khan, former Chairman of P@SHA and senior member of FPCCI, also contributed to the discussion, advocating for a collaborative alliance between the IT-related standing committees of FPCCI, business councils, and PSEB. He proposed the creation of a joint working group with objectives aimed at fostering collaboration between the IT industry and the business community. The goals include facilitating investments, identifying new export markets such as the U.S., Europe, and the Gulf Cooperation Council (GCC) countries, and streamlining the visa process for IT professionals. Additionally, the working group would focus on raising awareness about Software Technology Parks (STPs) and Special Technology Zones (STZs), which could provide crucial infrastructure for the IT sector.
Abu Bakar, the CEO of PSEB, voiced his support for the FPCCI’s demand for a Software Technology Park in Karachi, recognizing its potential to accommodate and support the growth of IT companies in the city. He emphasized that Karachi, with its youthful, skilled, and motivated workforce, has the resources to support such a facility, which would offer subsidized services to tenant IT companies. PSEB is already taking aggressive steps to establish a large-scale STP in Karachi, aligning with the city’s aspirations as a hub for technological innovation.
Bakar also pointed out that internationally, successful IT companies are often owned by large business and corporate groups, which provide the necessary funding for rapid expansion. This model, he argued, is absent in Pakistan, where private-sector investment in the IT industry is lacking. He stressed the importance of attracting domestic private-sector investment to fuel the growth and expansion of Pakistan’s IT sector, which could significantly contribute to the country’s export potential and overall economic stability.
The discussions between FPCCI and PSEB underline the growing recognition of the IT sector’s importance to Pakistan’s future economic prosperity. As the government and industry leaders continue to push for strategic reforms, initiatives like the establishment of Software Technology Parks and the diversification of investment into the IT industry are poised to play a pivotal role in strengthening Pakistan’s position in the global digital economy.
