Pakistan to double its IT industry in two years by setting up dedicated tech zones

Pakistan has been pitching on the new tech zones to generate employment for young people as nearly two-thirds of its population is below 30.

Pakistan IT industry

Pakistan has been planning to double its IT industry in two years by setting up dedicated tech zones across the country.

The Chairman of Special Technology Zones Authority, Amer Hashmi, said, “The country has been expecting to open a dozen such zones by next year. It is offering a 10-year waiver on corporate tax and imports of any machinery or building material required for the areas.

“The initiative will give Pakistan’s IT industry a “catapult push” that could increase its size to as much as $6 billion in the next couple of years.”

Pakistan has been pitching on the new tech zones to generate employment for young people as nearly two-thirds of its population is below 30.

The initiative was taken after Prime Minister Imran Khan inquired answers at a meeting last year as to why Pakistan was lacking behind on the tech growth.

Speaking about his own experience as an entrepreneur, Hashmi, told the prime minister that Pakistan lacked a tech ecosystem.

Hashmi, who left his job with International Business Machines Corp. in Canada and moved back to Pakistan to start a tech firm, had to deal with people asking for bribes. The new fields will not have such concerns and will be a plug-and-play model, he stated.

Amer said, nearly half a dozen international companies and fifty domestic firms have shown interest in setting up in proposed zones. He added that as much as $1.5 billion of private investment will pour into these projects over the next two years.

The newly appointed Finance Minister, Shaukat Tarin, also vowed to support the IT industry, which he said could help increase exports and assist the country get out of its regular boom and failure cycles.

Tarin added, the industry can be a game-changer and will be provided “anything they want.”

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  • Every city needs dedicated tech zones for businesses, individuals and for training.


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