Islamabad December 23 (Online): Prime Minister Imran Khan has said that if incentivized and facilitated, the technology industry could help overcome the current account deficit of the country by boosting exports.
The prime minister was addressing the inauguration ceremony of Lahore Technopolis, a special technology zone in Lahore on Thursday.
The Prime Minister said the IT sector would also address the issue of unemployment to the youth particularly the women besides boosting the country’s exports.
Imran Khan lauded Punjab Chief Minister Sardar Usman Buzdar and other relevant ministers for allocating 800 acres of land for the purpose, which he said is the “future of the world”.
Exemplifying Amazon, Google and other tech giants, the prime minister said during COVID-19, all other businesses have faced a slump but the profits of the tech companies multiplied during the pandemic.
The Prime Minister said as the country started achieving economic growth, the current account got disturbed owing to the import of the machinery which ultimately devalued the local currency and made the country approach IMF for loans. The country can only come out of this cycle unless it boosts its exports and allows wealth creation.
The Prime Minister called for redirecting the orientation of the government as well as the population towards enhancing exports and wealth creation.
He said taking advantage of its 12 climatic zones; the country could reduce its import bill of commodities like edible oil through indigenous production of palm oil.
Calling them the biggest asset, the Prime Minister also emphasized the involvement of the overseas Pakistanis towards investment and wealth creation in Pakistan.
Imran Khan said the objective behind establishing the Technopolis projects in Lahore, Karachi and KP was to make Pakistan join the tech race and provide employment to the people.
Earlier, the Prime Minister also distributed licenses among the companies which would be operating in the Technopolis.
The event also marked the signing of a Memorandum of Understanding for an investment of 300 million US dollars for the establishment of another three technology zones in different parts of the country.
Special Technology Zones are being developed all across the country would be home to Science & Technology Parks, manufacturing units, research and development centers of global tech companies and software houses.
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