CandleLight Your Guide

IT Industry Guide – Ailment Needs Cure (Episode 6)

IT Industry

(Opportunities Available Internationally to Uplift Pakistan’s IT industry)

  • Exchange Programs

Many Pakistani students with proper awareness can apply and get accepted into number of exchange programs. An Exchange program is the initiate taken by developed countries to expose students from less developed and developing countries to the world’s most prestigious universities and revolutions in the IT industry. This helps in building awareness about the international curriculum, faculty, facilities offered at universities, interaction with students from all across the world and undoubtedly a valuable international exposure. The government can create avenues to allow more students to get benefitted from exchange programs. 

  • Silicon Valley/ Tech Hubs Exposure

In the world outside Pakistan, IT has already revolutionized and developed countries have created countless breakthroughs in IT sectors. IT parks, IT cities and hubs are the fundamental ecosystems to promote activities related to IT in the centralized atmosphere. You can have access to major stakeholders, vendors, suppliers in single vicinity and this bolsters competition simultaneously, reducing the hassle of inaccessibility.  Silicon Valley is one prime example of a high end IT ecosystem built with the purpose to research, identify and promote inventions, discoveries, and breakthroughs in the IT industry. Best IT brains in the world work together with the shared goal of Technological advancement in the Valley.

Also Read: IT Industry Guide (Episode 5)

GOP must support IT intellectuals to visit IT Hubs such as Silicon Valley and many others in the US, China, Singapore, etc. to establish a benchmark for the industry with sustainable IT policies and Vision.

Read More: Tech Hubs in the World

  • Payment Gateways

The most Challenging aspect highlighted by Pakistani IT companies is the lack of payment gateways. PayPal is not yet introduced in Pakistan. Local banks have joined hands with certain fintech companies to facilitate the ease of payment from the client to customer but most of them are successful within a country but outside they lack international accreditations. Similarly, PayPal the widely accepted online payment facility used by people all across the world has yet not added Pakistan among its payment gateway channels. State-level initiatives are required to build and maintain the trust of international businesses. So far, the economic outlook has improved for the IT industry and many international businesses and investors are seeking avenues to invest in Pakistan. The government has tried to take up this need for payment gateway in Pakistan with PayPal and it is yet to get a conclusive remark regarding the future of PayPal and other similar payment channels in Pakistan. With lack of such channels accepting payments from clients become a hassle and in some cases, people let go of the projects due to the fact that getting payments cleared will literally become frustrating.

IT Industry
  • Attract Foreign IT Investments

Foreign IT investments heavily rely on economic prospects and growth opportunities in the industry. Many countries with IT-intensive industries are expressing their desire to invest in Pakistan but owing to lack of strategic partnership between industry and government the industry forgo many such opportunities. Investors reckon win-win platform as base of their investment and different models can be adapted to engage foreign investors in Pakistan.  The government can develop mutual working terms with investors for long term partnerships. With the international investment the level of awareness, application of advanced technologies, better compensation for skilled IT workers, healthy competition, Return on investments overall in the industry and etc. will grow exponentially.

  • Avail Foreign IT Grants

Grants for boasting IT infrastructure in developing countries come from international agencies and donors. The prime focus of these grants are to develop the IT infrastructure into sustainable and revenue-generating businesses. This not only uplifts industry in the region but also plays a vital role in elevating the economy of the respective country. GOP can seek international grants for improving IT infrastructure from potential donors but prior to accepting any grant, we must evaluate the existing IT infrastructure to develop the first measure of evaluation to benchmark against any change in strategy or future developments.

Also Read: IT Industry Guide (Episode 4)

  • JV’s with Local Companies by Int’l IT Giants

International companies and big companies in the region must be addressed in IT policy to take small and medium companies on board for any project. Joint ventures between companies for the execution of projects will allow companies to gain experience and likewise, manpower will be trained in various capacities. Also, large companies should be bound to hire fresh IT graduates for internship periods sponsored by government or a provision should be kept in project cost for remuneration to new IT graduates. This will help in the capacity building of IT graduates and this experience will help them in understanding the scenario of real market project execution.

  • IT conferences and workshops (Inviting IT Gurus)

IT experts from across the globe can be invited to Pakistan to discuss strategies essential for the Uplifting IT industry. Conferences to create awareness regarding IT innovations and business strategies adopted across the border can be arranged and Entrepreneurs, investors can be approached for investing in lucrative IT ventures. Workshops for the capacity building of small and medium IT companies can be arranged with an expert from the industry sharing their ideas and helping companies to grow and achieve better returns and stability in the industry. Mentor-ships in the form of acceleration programs, incubation centers, and workshops should be arranged and sustained across each province to uplift the IT sector respectively. 

Next Episode of IT Guide will cover Industries with Lucrative Returns seeking IT Investment in Pakistan

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