Islamabad, Nov 16: Pakistan digital economy is poised for a significant boost, with experts forecasting an additional $6 billion in annual exports by 2030.
As the country’ digital infrastructure continues to evolve, sectors like tech startups, freelancers, and service-based industries are playing a crucial role in driving this growth.
Despite recent regulatory challenges, including internet disruptions and social media platform bans, the nation’s digital sector is poised to unlock immense economic potential, drive job creation, increase foreign exchange earnings, and enhance global competitiveness.
According to the State Bank of Pakistan, technology exports surged by an impressive 143% from $1 billion in 2018 to $2.6 billion in 2023.
Pakistan sees the continued expansion of its IT sector as vital for economic diversification, with digital services becoming a cornerstone for international business collaborations.
However, challenges such as the impact of internet restrictions and regulatory uncertainty could undermine this progress.
Industry experts and stakeholders have called for a balanced approach to digital governance, urging the government to ensure a stable and open internet to fully realize the potential of the digital economy.
While acknowledging the government’s security concerns, PREDA urges the adoption of more targeted measures rather than blanket bans or restrictions.
The members emphasize the importance of an open and consistent internet as a foundation for any nation aspiring to lead in the digital age. With Pakistan’s technology exports growing significantly—by 143% from 2018 to 2023, reaching $2.6 billion—PREDA believes that a clear and consistent digital policy will unlock greater economic opportunities, including an additional $6 billion in digital exports annually.
The Finance Minister, Senator Muhammad Aurangzeb, has recently acknowledged the importance of digitalization in fostering economic growth, a sentiment that has resonated within the business community.
With forward-thinking policies, Pakistan’s digital economy is set to thrive, driving innovation, creating jobs, and boosting global trade, while securing the country’s position as a key player in the digital space.
