PM hails $700m pledges in new foreign investment in IT sector; reaffirms commitment for digital Pakistan
PM hails $700m pledges in new foreign investment in IT sector; reaffirms commitment for digital Pakistan
PM hails $700m pledges in new foreign investment in IT sector; reaffirms commitment for digital Pakistan ISLAMABAD, Apr 29 (APP):Prime Minister Muhammad Shehbaz Sharif on Tuesday hailed around $700 million pledges in new foreign investment in the Information Technology (IT) sector and called on international stakeholders to continue supporting Pakistan’s journey as it was ready to lead global digital economy.
The prime minister addressed the Digital Foreign Direct Investment (DFDI-2025) Conference here, declaring that Pakistan is “not waiting for the future, but shaping it.”
The conference, attended by global tech leaders, investors, and innovation champions, marked a significant step in Pakistan’s emergence as a key player in the global digital economy.
Prime Minister Shehbaz Sharif, in his inaugural keynote address, shared insights from his four decades in public service, observing the “sea change in global dynamics driven by digital transformation.”
He reaffirmed the government’s commitment to positioning Pakistan as the next major tech destination in the world.
“Our youth, aged between 15 and 30, constitute 60% of the population. They are the architects of our digital future,” said the prime minister.
He highlighted the government’s strategic initiatives including the launch of federal and provincial IT parks, incubation centers, and a large-scale R&D ecosystem.
He announced a new partnership with global technology giant Huawei, which will train 200,000 boys and girls annually through a joint skill development program.
He said that in March this year, Pakistan received a record-breaking $4.1 billion in foreign remittances, signaling growing trust in the country’s digital potential.
“We’re not just building a digital economy—we’re creating a digital Pakistan. From transforming agriculture through AI to expanding exports with smart technology, this is the moment for global investors to join us,” he said.
Prime Minister Shehbaz also invited the world to invest, guide, and grow with with Pakistan. Together, we will make Pakistan a leading light in the digital era,” he added.
In her address, Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja highlighted Pakistan’s exponential growth in IT exports, an evolving regulatory landscape, and the development of a robust digital infrastructure.
“Pakistan’s youth — over 100 million strong — is our greatest digital asset. Under the prime minister’s direct supervision, we have trained over 300,000 young professionals in IT skills this year alone,” she noted.
Deemah AlYahya, Secretary-General of the Digital Cooperation Organization, praised Pakistan’s ambition and innovation:
“This is a historic moment where ambition, innovation, and opportunity converge. Digital transformation is now a revolution, not a trend and with 142 million broadband subscribers, 65% smartphone penetration, and IT exports poised to exceed $4 billion, the country is primed for digital acceleration.”
CEO of Pakistan Software Export Board, Abu Bakar siad that IT exports were set to exceed $4 billion this year — a testament to public-private collaboration and national talent.
At the inaugural session, Prime Minister Shehbaz Sharif presented a special memento to Deemah AlYahya and thanked all participants for their commitment to Pakistan’s digital rise.
Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja, said on Tuesday that Pakistan is quickly becoming a global center for technology and innovation.
Addressing first Digital Foreign Direct Investment (DFDI-2025) Forum, she said the country offers a clear, business-friendly path for investors interested in its growing IT sector.
She highlighted that the government has established Special Technology Zones across Pakistan, which offer attractive incentives for both local and international investors. “These zones provide special benefits to anyone willing to invest in Pakistan’s tech industry,” she said.
The minister shared that the Pakistan Software Export Board (PSEB) has set up 25 software technology parks across the country. These parks offer subsidised office space and internet services to promote business growth.
She also mentioned that the Ignite R&D Fund has supported over 1,900 startups, helping to increase venture capital investments in Pakistan.
The minister said that IT exports have witnessed a 25% increase over the past nine months, reflecting the success of the government's prudent policies. She added that Pakistan is focusing on promoting cashless transactions, which will help usher in an economic revolution.
She said that 25,200 kilometers of fiber optic cable were installed across 800 villages, connecting over one million people to high-speed internet through the Universal Service Fund.
She further announced that Pakistan is preparing for one of its biggest spectrum auctions, where more than 500 megahertz of spectrum will be made available for expanding 4G and 5G services.
Speaking about youth development, she said laptops have been distributed based on merit to give young people better digital access and skills.
She added that Pakistan is boosting its IT exports by improving the ecosystem through skilled professionals, better digital infrastructure, and simplified business processes. “Last year, Pakistan was named the most cost-effective and competitive country for IT services in the world,” she said.
“With confidence, we can now say that investors have a clear path forward in Pakistan,” she said. She credited Prime Minister Shehbaz Sharif’s leadership for helping position Pakistan as a future global tech destination.
Fernando Morillo representing Mashreq Bank announced that the bank had received approval from the State Bank of Pakistan to begin pilot operations.
He said Mashreq has already invested $34 million in its digital banking operations in Pakistan since 2023 and plans to invest another $30 million in 2025, bringing their total to $100 million.
Sajjad Mustafa Syed, Chairman of the Pakistan Software Houses Association (P@SHA), shared that the association had secured over $600 million in recent investments. He said partners like Psy Capital had committed $100 million this year alone, helping Pakistan compete on a global level.
Deemah AlYahya, Secretary-General of the Digital Cooperation Organization, called the moment historic. “This is where ambition, innovation, and opportunity come together,” she said. She said Pakistan’s 142 million broadband users and 65% smartphone penetration, with IT exports expected to surpass $4 billion.
She praised Pakistan’s role in the digital world. “Pakistan isn’t waiting for the future—it’s creating it,” she said.
“Digital transformation is not just a trend; it is reshaping economies and redefining national strength,” she added. “This forum proves that Pakistan is ready to lead the global digital economy.”
She also said over 1,000 investors, innovators, and policymakers had gathered for the event, marking the beginning of a new era of opportunity and transformation.
Digital technologies are expected to add $10 to $11 trillion to the global economy by 2030. However, she stressed that beyond numbers, what matters most is leadership, vision, and the commitment to a connected future.
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