In the last few years, Pakistan has witnessed tremendous growth in the field of information technology and telecommunication. The IT sector is registering growth of 30% every year. This is evident from the launch of new fixed and cellular services. Pakistan's cellular sector has grown by 173% in recent years, registering revenue growth of 55%. Combined fixed and cellular teledensity has doubled from 4% to over 10%. Internet access has expanded throughout the country and there are now more than 4 million subscribers.
Not surprisingly, Pakistan's telecom sector is the country's number one destination for foreign direct investment. Between 2003 and 2004, the telecom sector accounted for 22% of the country's total foreign direct investment (FDI). Fueled by incentive-laden deregulation, the $3 billion invested in this sector is expected to rise to $5 billion within the next few years.
The government is intent on increasing Pakistan's share of the global IT market. The target for IT related exports was $100 million for the 2005-2006 fiscal year. The growth has enabled services such as business process outsourcing and software development to become a priority focus for the government, which has begun to establish competitively priced high-tech parks in various locations in the country.
Call centers are already a flourishing business. Pakistan has the technology, English speaking skills and infrastructure for the call centers. Pakistan also has a well qualified pool of IT professionals and an expanding software export business.
Pakistan Telecommunication Company Limited (PTCL) is the nation's largest telephone company, a successful cellular operator and largest Internet provider. Nearly all of its network is digital with a strong fiber optic backbone. The Pakistan Software Export Board (PSEB) has listed over 900 Pakistani IT companies, many of which work with clients from all over the globe.
The Republic of Korea has achieved tremendous success in the IT and telecom sectors in recent years. It is regarded as one of the most wired countries in the world, with an ongoing emphasis on this cutting edge technology. WiBro has secured an initiation in the US market under an arrangement between Samsung and US companies. I feel that there is a tremendous opportunity for the Korean electronics and telecommunications sector to explore the expanding Pakistan market of 160 million people, which recorded 8.4% economic growth last year.
The Government of Pakistan has offered a liberal investment regime to foreign business as a result of which investment in Pakistan is constantly on the rise.
Pakistan is keeping pace with international trends in banking, business and IT through the increasing application of sophisticated equipment and software.
It will be worthwhile for Korean companies to look towards Pakistan as a potential outsourcing destination and for introducing technologies like WiBro and DMB. The Embassy of Pakistan will be happy to assist potential Korean companies in promoting mutually beneficial cooperation in the IT sector. --
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