Muhammad Saleem

Information technology (IT) services and processed foods carry great potential to strengthen Pakistan’s economy and create multiple jobs. Only economic growth can help bridle the country’s financial crisis and unemployment, experts believe. Dr. Ahmed Khan from the University of Agriculture, Faisalabad told WealthPK that the trend of digital literacy was gaining ground across the globe and artificial intelligence was changing the world rapidly. He said Pakistan was blessed with a young, tech-savvy population, which could be a driving force to harness the potential of the IT services sector. Drawing a comparison with India’s success in the IT sector, he said the Indian youth was rapidly making the IT services sector a major export-earner and fetching billions of rupees to the national kitty. He also mentioned that India and other countries were earning significant foreign exchange by exporting processed foods.

He believes Pakistan, as an agricultural country, has a tremendous potential to export multiple food products, and expressed optimism about China’s potential to help Pakistan in achieving this goal. “Sensing our challenges, we must adopt right strategies and collaborate effectively. I strongly believe that both sectors can be game-changers for Pakistan’s youth and the nation as a whole,” Dr Khan added. Demands for IT services and processed foods are surging with each passing day. However, the crucial question is how to tap the potential of both sectors, he said. Criticizing the role of education institutions, he said the experts were not delivering as per the changing world. “Without ensuring effective and practical research in our educational institutions, we cannot give direction to youth and drive the economic growth,” Dr Khan said.

“To reduce our reliance on the textile sector, we need to increase export earnings from other industries like IT services and processed foods,” he suggested. He said the government needs to create a conducive business environment in the country, as investors need tax incentives, simple regulations, and an effective infrastructure. Skilled manpower, research and development are crucial for both sectors, he emphasized. Talking about the challenges and opportunities of the IT services sector in Pakistan, Kamran Raza, head of an IT services company, told WealthPK that Pakistan had tremendous potential in the IT sector. He said thousands of students were enrolled in multiple disciplines of computer sciences. However, he said the prime challenge of this sector was lack of practical training of students, as there were no modern labs in the institutions.

Besides, limited access to finance poses challenges for the learners. He said expensive electricity, frequent power outages, and dearth of skilled manpower were also hitting the growth of this sector. The deficiencies of this sector provided ample opportunities to India and other countries to excel in the IT services sector. In spite of that, he said the Pakistani youth was struggling to earn the much-needed forex for the country. Demands for IT services, including skilled persons in AI, machine learning, and cybersecurity expertise, are skyrocketing. Sensing the situation, he suggested that the country must focus on building a robust ecosystem which can attract foreign investment.

Farhan Sheikh, owner of a food processing company, said, “The agricultural diversity of Pakistan carries a great potential for the processed food exports. However, we are facing multiple challenges regarding quality control, packaging, skilled workforce and market access. Without overcoming these challenges, we can’t capitalize on the processed food exports opportunities.” “The research and development in Pakistan are not on a par with the international standards. We can’t build strong brands which can attract the international community. We are still producing traditional crops rather than focusing on the niche markets. “The foreign buyers now seek high-quality, organic and authentic food products. Our hardworking farmers can benefit from training in the modern cultivation methods to produce in-demand crops,” he suggested.

Credit: INP-WealthPk