Pakistani IT industry had been growing by leaps and bounds until last year May 2015 when the biggest IT giant of Pakistan, Axact; that contributed to more than 60% of overall Pakistani IT exports, was shut down by FIA under false allegations of money laundering and fake online degree scandals.
For strong 15 months, this company had been nonoperational and unable to contribute to the IT sector, until they were granted clean chit from the Sindh High Court which enabled them to jump start their operations again.
IT is undoubtedly the key to future progress and success. All the leading countries in this world consider IT as a paramount feature to ensure their sustainable growth. We are glad that Pakistan is realizing the potential within its IT sector and opening doors to new ventures for the revival of IT in Pakistan.
We all had been both excited and curious with the gossip about Ali Baba’s CEO Jack Ma’s visit to Pakistan this year.
Here’s a bigger and better news.
“Pakistan on Tuesday signed a Memorandum of Understanding with Alibaba Group Holdings Limited to promote Pakistan’s worldwide exports by Small and Medium Enterprises (SMEs) through e-commerce. ”
The expansion took place as a result of Pakistani PM’s visit to Ali Baba’s headquarters. Ali Baba group’s CEO Jack Ma, and Prime Minister of Pakistani PM Nawaz Sharif bore witness to the ceremony where an agreement between Alibaba and Trade Development Authority of Pakistan was signed. The signatories were Commerce Minister Khurram Dastgir, President of Alibaba Group Michael Evans and Senior Vice President of Global Business of Ant Financial, Douglas Feagin.
Prime Minister Muhammad Nawaz Sharif’s remarks at AliBaba Group pic.twitter.com/0gEJ2xueqe
— PML(N) (@pmln_org) May 16, 2017
Jack Ma, in his last visit to Pakistan stated that he’s thoroughly impressed by the revival of IT industry in Pakistan and sees a lot of potential.
Under the terms of the agreement, Alibaba, Ant Financial, and TDAP have agreed to expand the current e-commerce industry of Pakistan by fostering global export of products by small and medium-sized enterprises (SMEs). Online and offline training programs for the SMEs would also be conducted by Alibaba.
Perks for Pakistani IT Industry:
Trade Development Authority Of Pakistan shall help find capable SMEs to participate in the training programs while Alibaba will be providing industry analysis to TDAP and ease their selection process.
Alibaba, Ant Financial, and TDAP have agreed to promote the growth of financial services in Pakistan in areas such as mobile and online payment services.
The parties have also agreed to adopt cloud computing services to support the online and mobile e-commerce businesses of SMEs in Pakistan.
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