The reigning government of Pakistan has vowed to improve the technology industry in two years by creating tech zones across the country.
The Cabinet Division said that the STZA had been established under the STZA Ordinance 2020. The administration has been instructed to systematize Special Technology Zones (STZs) across Pakistan. Initially, one STZ is to be set up in Islamabad, Lahore, Haripur, Karachi, and Quetta each.
The endeavour first originated after Prime Minister Imran Khan yearned answers at a meeting as to why Pakistan is missing out on the tech fortune.
Hashmi, an entrepreneur who quit his job with the International Business Machines Corp. in Canada and shifted back to Pakistan to open a technology company, had to tackle people asking for bribes and encountered delays with setting up his fiber network and data centers. Hinting on his own experience, he told that Pakistan lacks a tech ecosystem.
Almost every country has acquired and is continually evolving digitization policies and programs, which are overseen by chiefs of government. For example, in India and Bangladesh, the digital protocols are led by their prime ministers, whereas in Pakistan, the digital strategy was last put out by the MoITT in 2018, without much material.
Pakistan’s economy was used to be one-fifth the size of the Indian economy, which has now tumbled to one-tenth. This percentage is likely to slowly exacerbate in the coming years, considering the powerful growth rate of the tech-based innovation economy of India while Pakistan remains almost nonexistent in such an area.
PM Imran Khan has launched a Digital Pakistan initiative to introduce the latest technology for public interest.
The vision outlines Pakistan’s digital initiative and has been designed both for the government and the private sector to work towards a digitally advanced and inclusive Pakistan.
Under the initiative, Pakistan is gradually advancing towards the right path with technological advancements in the country, as it is the only way to come out of the ailing economy.
Finance Minister Shaukat Tarin, has also agreed to support the IT industry, which he says could help modify exports and help the nation get out of its typical boom and bust cycles.