Govt Sets up Advisory Council on Digital Economy to Enhance IT Exports by $15 Billion

A high-level advisory council on IT and Digital Economy has been constituted to enhance the digital economy of the country including its IT exports up to $15 billion in the next three years. The council was chaired by Prime Minister Shahbaz Sharif with 31 members including relevant ministries and representation of the private sector. The prime minister launched a number of IT-related initiatives, telling the audience that the Gulf states were eager to invest in Pakistan and that the country would significantly gain from their investments. He asked all stakeholders to work together and do everything possible to change history because “we have expertise and energy to do wonders”. He stated that the government would work as a partner and catalyst in providing various forms of assistance to investors. The council was summoned a couple of days when IT exports did not only fall short to meet its set target of $5 billion in the outgoing financial year whereas the present government is likely to end in the next few months. The term of reference of the council was defined in the meeting which will suggest a roadmap to achieve the mark of $15 billion in IT exports per annum and identify key areas of growth,  their challenges, and way forward to overcome issues and hurdles. It will also identify gaps in the public and private sectors and suggest measures to bridge these gaps. The advisory council may constitute specific sub-committees for focused work with defined timelines and scope. The council will meet regularly on a fortnight basis in which the member can be participated in person or virtually. The federal minister will brief the PM about the progress of the council on a fortnight basis. Advisory councils like these were constituted multiple times in the past with ambitious targets set out for the economy and exports of the IT sector however suggestions from the private sector were grossly ignored. Exporters highlighted multiple hurdles in the implementation of the policies, but these issues remained unaddressed, which ultimately resulted in a loss to the economy.