Bilal Ahmed 
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Pakistan has witnessed a very dynamic progression in the newly set up Information Technology (IT) companies’ registry; the total tally crossing 20000. This influx of IT companies will go a long way to cement or position the country as a leader in the information technology sector.
Soaring IT Exports
Recently, Pakistan’s Economic Survey Report revealed that the country has experienced enhanced exportation from the IT industry which now stands at $2. 283 billion. Pakistani IT industry has brightly illustrated the enhanced interest in the IT services of Pakistan and the industry’s importance to the national economy.
Freelancer Remittances
The report also noted that as an intermediate arrangement for the private sector, IT freelancers played a significant role in the increase as remittances from freelancers were recorded at $35 million. This goes a long way to depict the importance of independent IT professionals in the overall success of this industry.
Expanding Digital Landscape
The survey report also showed a significant rise in connection to new broadband and telecom service provider firms all across the country. Internet bandwidth subscription is now standing at one hundred and thirty-five million and telecom at one hundred and ninety-four million. These advancements in the presence of digital communication prove only the country’s willingness to adapt to technology.
Boosting IT Investment
To encourage diverse investments into the IT sector, the federal government has approved a record Rs. 35,700 million budget for the IT sector for the next fiscal year 2024-25, which is 357 percent higher than the current year’s budget. The Ministry of IT has been provided with Rs 27. The computer input devices are keyboards, mice, scanners, etc. The local area networking devices are network adapters, switches, hubs, etc. The allocation of finances for the development budget is Rs 43 billion in the development sector out of which Rs 6. 28 billion for 15 new projects The analysis of current and future professions and their demand will be the subjects of the subsequent chapters of this work.
Fueling Innovation
The government has also proposed Rs 21 for public sector development for strategic human capital development. 3 billion for new (forphs) and Rs 15 billion for ongoing (PPP) projects. The president assigns $5 billion to the Digital Economy initiative. Furthermore, Rs 1 billion has been dedicated to nurturing innovation in the IT industry reflecting the government’s commitment to support technology innovation.
Developing Tech Hubs
The budget also contains proposals for the creation of technology places, with Rs 9. 921 billion earmarked for the Islamabad Technology Development Park and Rs 6. 50$ billion for setting up an IT park in Karachi which will generate revenues of 78 billion. These initiatives are expected to offer world-class facilities and endowments to boost the Information Tech, IT sector.
Cybersecurity Investments
Cognizant of the role and significance of cyber security in the twenty-first century, the budget has envisioned an amount of rs. one billion for the CYBER SECURITY FUND FOR DIGITAL PAKISTAN. This amalgamation of funds is geared toward boosting the country’s cybersecurity and protecting its web-based assets.
