
Ministry aims to boost IT exports to $15bn by 2029: Shaza
ISLAMABAD: Minister for Information Technology and Telecommunication Shaza Fatima Khawaja said her ministry was determined to achieve the target of elevating the country's IT exports to $15 billion by 2029.
She underlined that a future-ready human resource is the key component for achievement of this target.
Khawaja reiterated the government's commitment to facilitating the academia, industry and all relevant stakeholders in removing the hurdles blocking the employability of computing graduates.
The minister was addressing a national conference titled, 'Zero-Day Employability of Computing Graduates' organised by Higher Education Commission (HEC), Pakistan in collaboration with MoIT&T and Pakistan Software Export Board (PSEB) on Thursday.
Chairman HEC Dr Mukhtar Ahmed, Secretary MoIT&T Zarraz Hasham Khan, vice chancellors of a large number of universities, faculty members, and IT industry representatives attended the conference.
Khawaja emphasised the need for economic impact in the country through digital transformation by unlocking the country's IT potential. She highlighted that Pakistan is blessed with talented youth and there is a need to hone this asset. She noted it is the high time for introspection, identification of challenges, and exploitation of strengths to set a right direction. She said the government is cognisant of the challenges; however, it is pivotal to be on the path of addressing the challenges. She asserted that, 'conferences are literally determining the future of Pakistan.'
She urged the universities to prepare the youth for the future technological advancements and produce graduates who make the IT sector viable. She underlined the significance of rewarding and penalizing the universities for the performance in order to materialise the vision of IT sector's growth. There is, she noted, a tsunami of change wherein everything has been automated. She made a collective call to action to come out of the existing structures and propose innovative interventions.
Chairman HEC Dr Ahmed highlighted HEC's measures to bridge the gap of liabilities in the IT sector. He said that academia-industry linkages are a vital means to cope up with the industry's hampered growth, as it is high time to upgrade the systems. He informed the audience that HEC has developed a new Computing Education curriculum and has shared it with the universities for adoption. He said that the curriculum is based 80 percent on hands-on skills. He hoped that it will open up a window for employability of graduates.
The chairman highlighted that Pakistani youth have been achieving huge success in the Huawei Imagine Cup competitions. He said the country's youth has a great potential in all the areas including technology. He added that the Pakistani university graduates and the HEC scholarship recipients are playing their appreciable role in taking up Pakistan in the technological sphere.
Secretary MoIT&T Zarrar Hashim Khan shared a detailed presentation on the National IT Roadmap drafted in consultation and deliberations with stakeholders. He pointed out the key challenges in the IT industry triggering low exports such as systemic and structural issues, educational and skill development issues, and workplace and industry dynamics. 'If we do not address them structurally, we will lag behind,' he emphasised.
He also presented recommendations to put in action for sectoral growth, including having a standardized testing mechanism, skill-based certification courses integrated with curricula, and work with industry by final year students. He stressed the need for academic and workforce readiness and strong collaboration between the IT industry and academics to address employability gap. He underlined that the industry's productivity and a remarkable increase in consistent exports are among the top objectives to be followed.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
an hour ago
- Business Recorder
Pakistan signs $4.5bn loans with local banks to ease power sector debt
KARACHI: Pakistan has signed term sheets with 18 commercial banks for a 1.275 trillion Pakistani rupee ($4.50 billion) Islamic finance facility to help pay down mounting debt in its power sector, government officials said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning 'circular debt', unpaid bills and subsidies, that has choked the sector and weighed on the economy. The liquidity crunch has disrupted supply, discouraged investment and added to fiscal pressure, making it a key focus under Pakistan's $7 billion IMF programme. Finding funds to plug the gap has been a persistent challenge, with limited fiscal space and high-cost legacy debt making resolution efforts more difficult. 'Eighteen commercial banks will provide the loans through Islamic financing,' Khurram Schehzad, adviser to the finance minister, told Reuters. Power sector circular debt plan okayed by Cabinet The facility, structured under Islamic principles, is secured at a concessional rate of 3-month KIBOR, the benchmark rate banks use to price loans, minus 0.9%, a formula agreed on by the IMF. 'It will be repaid in 24 quarterly instalments over six years,' and will not add to public debt, Power Minister Awais Leghari said. Existing liabilities carry higher costs, including late payment surcharges on Independent Power Producers of up to KIBOR plus 4.5%, and older loans ranging slightly above benchmark rates. Meezan Bank, HBL, National Bank of Pakistan and UBL were among the banks participating in the deal. The government expects to allocate 323 billion rupees annually to repay the loan, capped at 1.938 trillion rupees over six years. The agreement also aligns with Pakistan's target of eliminating interest-based banking by 2028, with Islamic finance now comprising about a quarter of total banking assets.


Business Recorder
2 hours ago
- Business Recorder
PIA special flight repatriates 121 stranded Pakistanis from Iran via Baku
A second special repatriation flight operated by Pakistan International Airlines (PIA) safely brought home 121 Pakistani nationals stranded in Iran, the national flag carrier said in a statement on Friday. Flight PK-7160 arrived in Lahore from Baku, Azerbaijan, at 3:40 PM, concluding a coordinated evacuation effort in response to the closure of Iranian airspace. 268 Pakistanis repatriated from Basra successfully: FO With direct air travel suspended, the stranded passengers had travelled overland from Iran to Baku, where arrangements were made for their return to Pakistan. The Pakistani embassies in Tehran and Baku played a pivotal role in facilitating the cross-border movement and coordination required for the repatriation process. Evacuation of Pakistanis in Iran, Iraq: Dar directs PIA to coordinate closely with MOFA The special flight was operated on the directives of the Government of Pakistan. PIA stated that, even in challenging circumstances, it remained committed to national service by prioritizing the safe return of citizens, a reflection of its longstanding tradition of operating in the national interest.


Business Recorder
2 hours ago
- Business Recorder
Iran-Israel tensions threaten Pakistan's fragile recovery
The world is holding its breath as tensions between Iran and Israel reach a boiling point. What began as a shadow war – fought through covert attacks, cyber strikes, and regional proxies – now teeters on the edge of open warfare. For many, this may seem like another distant Middle Eastern flashpoint. But for Pakistan and other oil-importing, investment-hungry economies, the potential fallout from a full-scale Iran - Israel war could be immediate, destabilizing, and enduring. Trump to decide on US action in Israel-Iran war within two weeks, White House says The Strait of Hormuz Iran has long warned that if it is attacked directly, it would retaliate by closing or disrupting the Strait of Hormuz, through which nearly a fifth of the world's oil and one-third of global LNG passes. If war breaks out and the Islamic Revolutionary Guard Corps acts on this threat, the effect would be seismic. Oil prices could jump to $150–$180 per barrel, if not higher, within days. Energy markets would convulse, and strategic reserves would be tapped globally. For Pakistan, where nearly 30% of the import bill is fuel, this would mean an instant blowout of the current account deficit, a weakening rupee, and imported inflation feeding into everything from electricity tariffs to grocery prices. A rise in oil would also raise transport costs and production expenses for exporters – particularly in textiles and manufacturing – shrinking competitiveness just when the country is trying to climb out of economic stagnation. Iran says no nuclear talks under Israeli fire, Trump considers options US Involvement: The risk of a regional war Should Israel launch a significant military operation against Iran's nuclear infrastructure, U.S. involvement is almost guaranteed – if not militarily, then through security and diplomatic cover. Iran could retaliate through its extensive network of regional allies: Hezbollah in Lebanon, armed groups in Syria and Iraq, and the Houthis in Yemen. In response, Israel may strike across multiple fronts. The Gulf, already skittish, could be drawn into this widening circle of conflict. This would be a pan-regional war, not a bilateral spat – and global markets would respond accordingly. For Pakistani businesses and policymakers, this isn't just an oil story – it's about the collapse of confidence. Equity markets across the region would take a hit, FDI flows into emerging economies would pause, and the risk premium for countries like Pakistan – already contending with political instability and IMF obligations – would rise further. That means higher borrowing costs, capital flight, and declining investor appetite for anything deemed 'exposed to the region.' Trade corridors under threat Even beyond the Strait, Iran serves as a critical trade conduit to Central Asia and Turkey. With road and rail links passing through its territory, Pakistan has in recent years viewed Iran as a potential bridge to diversify trade routes. If Iran becomes a war zone or faces renewed and expanded US sanctions, these overland corridors could shut down indefinitely. The Pakistan-Iran-Turkey freight corridor, a pillar of Pakistan's regional trade ambitions, would collapse. And as regional tensions rise, other initiatives – such as Iran's role in China's Belt and Road – could also stall, indirectly affecting Pakistan's own CPEC trajectory. The perils of regime change Some voices in Western capitals quietly suggest that an Iran–Israel war could trigger regime change in Tehran. But regime change rarely brings instant democracy or economic liberalism. More often, it brings chaos, uncertainty, and power vacuums. In Iran's case, a collapsed regime could unleash internal civil strife, embolden separatist movements, and leave critical oil and gas infrastructure vulnerable. A successor regime – military, clerical, or revolutionary – might be more aggressive, not less. And either way, it would take years to stabilize one of the region's largest energy exporters, further compounding oil market disruption and regional instability. Implications for Pakistan Pakistan has always maintained a careful balancing act between Iran, the Gulf Arab states, and the West. A full-scale Iran–Israel war would make that balance nearly impossible to maintain. Pressures to align with either the OIC consensus or international sanctions regimes could limit Islamabad's diplomatic bandwidth and expose it to both economic and political costs. Moreover, if the conflict spreads to the Gulf, the implications for Pakistan's diaspora workers in Saudi Arabia, the UAE, and beyond – who send home billions in remittances – could be severe. Even minor disruptions to Gulf economies or airline connectivity would affect the lifeblood of Pakistan's foreign exchange. The Iran–Israel confrontation is no longer a question of if – but how far it spreads. For Pakistan and many in the Global South, the imperative now is economic preparedness: building energy buffers, accelerating regional trade alternatives, and strengthening diplomatic channels that could help de-escalate tensions. The current war has the power to reorder global energy, unsettle regional politics, and cast a long shadow over Pakistan's fragile economic recovery. The article does not necessarily reflect the opinion of Business Recorder or its owners