According to a report by Google, digital transformation can help Pakistan open up to Rs. 9.7 trillion ($59.7 billion) in annual economic value by 2030, which is equivalent to about 19% of the country’s GDP in 2020.
AlphaBeta economists prepared the report, released at a virtual event organized by Google in partnership with Pakistan Software Houses Association for IT and IT-enabled Services (P@SHA).
What it says:
- Pakistan has more than 300,000 IT professionals and produces over 25,000 IT graduates each year.
- The country has fostered over 700 tech start-ups since 2010.
- Technology exports have grown 15% per year since 2020. They are expected to reach Rs. 611 billion ($3.5 billion) in 2022.
- Pakistan’s internet penetration rate keeps growing and is at about 54% this year.
The report identifies three main pillars of action Pakistan could take to realize its projected growth potential, including:
- developing infrastructure to support the local tech ecosystem
- continuing to create a favorable environment for IT export
- promoting innovation and digital skills in the country
More than 410,000 jobs are supported in Pakistan’s economy by Google products, according to the report.
Tell me more: President Alvi also spoke at the event and welcomed the findings of the report. He said that realizing the vision of Digital Pakistan would require the involvement of both private and public sectors.
Farhan Qureshi, the Regional Director of Pakistan, Bangladesh, and Sri Lanka for Google, said that he believes the future for Pakistan’s digital economy is bright, and Google will continue working with various government agencies to help fulfill the Digital Pakistan Vision.
Chairman P@SHA Badar Khushnood said that the industry had seen record-breaking growth over the last few years, and they are striving to take it to the next level.
Zoom Out: Google is trying to make digital transformation accessible for everyone in the country, including “underrepresented communities and vulnerable groups.”
They recently launched a pilot program with the National Rural Support Programme to equip more Pakistanis with online safety skills and digital literacy.
Their Grow with Google program has trained over 5500 SMEs on how to leverage digital tools.