ISLAMABAD: Pakistan has made tremendous vertical advancements in information technology, and the country is lucky to have the third-largest number of freelancers, according to Finance Minister Muhammad Aurangzeb.
According to a press release from the finance ministry, he emphasized the vital role that information technology plays in Pakistan’s development and stability while speaking at a high-level panel discussion on the “Role of New Technologies in Promoting Trade and Investment” at the World Economic Forum (WEF) on Thursday.
Mr. Aurangzeb emphasized that the primary objective for Pakistan’s IT sector was to provide the best eco-system, reliable infrastructure, bandwidth, banking alternatives, regulatory framework, and policy continuity.
He emphasized the horizontal growth of IT to capitalize on its universal benefits and claimed that Pakistan was the first nation to adopt the Digital Foreign Direct Investment Initiative. He noted that this expansion would be fueled in part by the Pakistan Digital Foreign Direct Investment Initiative.
talks with the VEON delegation about Pakistan’s digital revolution.
under order to encourage digital infrastructure, digital adoption, and innovative digital services, the minister stated that discussions with IT sector players were under progress. He added that cooperation with the Digital Cooperation Organization (DCO) will enhance the IT sector and that Pakistan’s monthly IT exports hit a new high of $384 million in December, helping the country grow its conventional export base.
According to him, job possibilities will be created when the private sector is elevated to a leadership position in the nation’s economic development and special technology zones will be operationalized.
According to Mr. Aurangzeb, Abu Dhabi DP World and Abu Dhabi Ports have made investments in Pakistan’s ports and maritime industries, and Pakistan will collaborate with these businesses to enhance customs security and efficiency.
The World Economic Forum’s discussions centered on how emerging technologies, such as artificial intelligence (AI), might transform trade and increase the precision and profitability of investments. The development of trade, finance, and investment-related IT technologies as well as their successful and lucrative application in international marketplaces were also covered.
The finance minister, meantime, was present at the Viable Growth in a Volatile Era session of the Informal Gathering of World Economic Leaders (IGWEL).
The discussion centered on methods for attaining inclusive and sustainable growth in the face of global economic uncertainty.
Mr. Aurangzeb was a speaker at the Hacking Trade and Investment live-streamed session.
The finance minister also met with Ahmed Kouchouk, Egypt’s finance minister, and gave him an update on the government’s macroeconomic stability initiatives.
The two ministers also discussed how they have dealt with the country’s development and economic issues.
Meeting with the representatives from VEON
On the fringes of the WEF Annual Meeting in Davos, VEON Group CEO Kaan Terzioglu and Jazz CEO Aamir Ibrahim met with Finance Minister Aurangzeb. They talked about JazzCash’s contribution to bolstering Pakistan’s digital payments infrastructure and encouraging economic documentation.
The talks centered on increasing digital inclusion in Pakistan and extending current collaboration in fintech services. They also discussed the nation’s progress toward digital transformation and economic expansion.
