Wednesday, December 25, 2024

Pakistan’s IT Sector Faces Over $1 Million Loss Per Hour Due to Internet Shutdown: P@SHA Chairman

Pakistan’s IT sector is losing over one million dollars every hour due to frequent internet shutdowns, revealed Sajjad Mustafa Syed, Chairman of the Pakistan Software Houses Association (P@SHA).

He explained that achieving the government’s target of $15 billion in IT exports requires stable infrastructure, easy market access, tax support, and a skilled workforce.

Syed stressed that investing just one dollar in market access could generate a $49 return, highlighting the sector’s impressive 40% growth in recent years. This growth has already increased IT exports to $3.2 billion.

The US is the biggest market for Pakistan’s IT exports, accounting for 55% of total revenue. However, Syed believes that improving the country’s branding could further enhance its global position.

He also urged the government to introduce tax incentives and officially recognize IT as an industry. These steps would encourage investment and reduce barriers for businesses, helping the sector grow faster.

Syed concluded that if Pakistan wants to unlock its full IT potential, it must provide consistent internet access and supportive policies. With the right measures, the country can secure its place as a major player in the global tech market.

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