Needless to mention that we are in groaning need of foreign exchange to cater to our many needs. At the moment our foreign exchange reserves have not yet crossed the limit of even $2 billion and that too, is due to a number of debts and loans extended to us by a number of loan giving agencies, which in their turn would also drain our national resources to a great extent.
The importance of information technology in the present world can not be underestimated as it has dominated almost all the fields of business and industry including the service sector and one having no touch with this technology would not be able to make any progress in the century to come.
Instead of discussing the role of this technology in the economic development of Pakistan, it would be more appropriate to say that there would be no desired economic development of any country without fully adopting this technology. If Pakistan wants to come in line with the progressive nations of the world it would have no alternate except to strive more and more for the development of Information Technology which includes (1) Computer Technology (2) Communication Technology and (.3) Robitics.
Information Technology as Foreign Exchange Earner
Needless to mention that we are in groaning need of foreign exchange to cater to our many needs. At the moment our foreign exchange reserves have not yet crossed the limit of even $2 billion and that too, is due to a number of debts and loans extended to us by a number of loan giving agencies, which in their turn would also drain our national resources to a great extent.
Through the development of this technology we can well be in a position to earn a lot of foreign exchange which would not only suffice our needs but also add much to our foreign exchange reserves and thereby we would be able to get rid of foreign debts which are to the tune of $30 billion with an annual addition of $1.5 billion as debt service charges and US$2 billion as a result of Balance of Payment deficit.
The scope of earning of foreign exchange can be guessed from the fact thatthe potential global software market at present is estimated around 1000 billion or one trillion US Dollars which is increasing by 25% per annum. India, the only one country of the world exports softwares more than $2 billion peryear and it has a plant to increase this export to $10 billion by the end of 2003 A.D. India would not stop here but would cross the figure of $50 billion by 2010. Now a days India has the honour to be one of the leading exporters of the softwares.
Against this, Pakistan, at the moment, is expoiting softwares hardly to the tune of $40 million and by 2003 it might go to the extent of $750 million given the present pace of progress in this field.
There is groaning need of the hour to accelerate the pace of development in this field so that more and more foreign exchange can be earned for the country and it is not impossible nor so much difficult. What the government has to do is to make out certain policies and investments and talents would be pouring in automatically with the passage of time.
Our total export target for the current fiscal year (1998-99) is US$10 billion and we are panting and gasping in getting that target too. The result is that we are pleased even if we get the figure of 8 billion dollars during this year. Why?
We have much potentials for the export of our sugar, rice, cotton and even the electricity. Yet we are unable to achieve the desired target of exports. The question is of fast communication as well as qualitative and quantitative improvement with the help of this technology which can go a long way in increasing our exports manifold opening thereby the door of prosperity. Otherwise, primitive methods of cultivation as well as trading shall not lead us to anywhere.
One must be aware that this technology is much helpful in improving the quality of our goods which can well be competent in the international market with reasonable prices.
It is generally observed that a lot of non-traditional items are being offered world wide on different web sites making a gigantic business. We have also no dearth of such non-traditional items. All what we have to do is to adopt this -- the fastest communication media. If this is done, volume of exports of commodity or even of manpower would not be a problem.
Creation of Employment
And [ldots] if we become self-sufficient and well-equipped in this technology we can fetch a fair share (far more than $10 billion) from the 1000 billion or one trillion dollars business of the world. Is it not the point to ponder with due seriousness?
The first and foremost attribute of this technology is to create employment. This can be adopted by a layman as a small and individual profession on very low profile simply to earn bread and butter for the family and can be done as very large and giant scale industry to absorb a number of qualified engineers.
In India, at present, there are about 2,00,000 software engineers and there is a plan to increase this number by 20,000 per year. While in Pakistan there are hardly 2,000 software engineers and this number may go upto 5,000 by end of the current century.
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