ISLAMABAD: Pakistani information technology (IT) service providers, startups and exporters expect to generate up to $500 million investment by showcasing their tech potential at the Gulf Information Technology Exhibition (GITEX) 2024, scheduled to be held in Dubai on October 14-18, industry stakeholders and officials said on Thursday.
The annual GITEX Global exhibition is considered one of the world’s largest tech shows that connects industry leaders with major tech and innovation startups as well as government officials, expert investors and corporate buyers.
Sajjad Mustafa Syed, chairman of the Pakistan Software Houses Association (P@SHA), said Pakistan had been declared 2024 event’s “Tech Destination of the Year” following the participation of Pakistani IT firms in the previous GITEX editions.
“There will be representation of IT sector of 180 countries, more than 200,000 sizeable trade buyers of IT services, 65,000 top-level IT executives from world over and 7,000 multinational companies of IT and allied industries [in this month’s GITEX Global tech show],” he said in a statement.
“We are expecting to generate leads of up to $500 million for the country.”
Prominent Pakistani exhibitors and delegates that will be participating in the exhibition include Quixas Technology Pvt Ltd, Wateen Solutions, AutoSoft Dynamics, KODERLABS, Dynamics 360, Creation Next and Bits Collision, according to P@SHA Secretary-General Nadeem Malik.
Pakistan’s State Minister for IT Shaza Fatima Khawaja said the development highlighted Pakistan’s commitment to innovation, technology and global collaboration.
“We look forward to showcasing Pakistan’s brilliant tech talent and tremendous potential on this prestigious platform,” she was quoted as saying by P@SHA.
Muhammad Umair Nizam, senior vice chairman of P@SHA, stressed that innovation, entrepreneurship and inclusion were the keys to rapid growth in IT and IT-enabled Services (ITeS) industry and the Pakistani IT industry was having a number of “firsts and pluses.”
“[It is the] only major industry in Pakistan having a trade surplus and that too with a margin of 77 percent,” he said. “[The Pakistani IT industry] has the capability to earn foreign exchange to the tune of $5 billion in FY25 [Fiscal Year 2024-25].”
Nizam said the IT industry could bridge Pakistan’s overall trade deficit and stabilize the economy through exponential growth, curtailed volatility in rupee-dollar parity, building foreign exchange reserves and creating employment opportunities.
Pakistani IT firms eye up to $500 million investment at major tech show in Dubai this month
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Pakistani IT firms eye up to $500 million investment at major tech show in Dubai this month
- The annual GITEX Global exhibition is considered one of the world’s largest tech shows that connects industry leaders with major tech and innovation startups
- Pakistan declared 2024 event’s ‘Tech Destination of the Year’ after participation of Pakistani IT firms in previous GITEX editions, says industry representative
Pakistan nears $1.5 billion deal to supply weapons, jets to Sudan
- Deal may include drones, air defense systems and Karakoram-8 aircraft, with possible JF-17 fighters
- The sale is expected to bolster Sudan’s army in the ongoing civil war with the Rapid Support Forces
ISLAMABAD: Pakistan is in the final phases of striking a $1.5-billion deal to supply weapons and jets to Sudan, a former top air force official and three sources said, promising a major boost for Sudan’s army, battling the paramilitary Rapid Support Forces.
Their conflict has stoked the world’s worst humanitarian crisis for more than 2-1/2 years, drawing in myriad foreign interests, and threatening to fragment the strategic Red Sea country, a major gold producer.
The deal with Pakistan encompasses 10 Karakoram-8 light attack aircraft, more than 200 drones for scouting and kamikaze attacks, and advanced air defense systems, said two of the three sources with knowledge of the matter, who all sought anonymity.
It was a “done deal,” said Aamir Masood, a retired Pakistani air marshal who continues to be briefed on air force matters.
Besides the Karakoram-8 jets, it includes Super Mushshak training aircraft, and perhaps some coveted JF-17 fighters developed jointly with China and produced in Pakistan, he added, without giving figures or a delivery schedule.
Pakistan’s military and its defense ministry did not immediately respond to requests for comment.
A spokesman for Sudan’s army did not immediately respond to a message requesting comment.
Assistance from Pakistan, especially drones and jets, could help Sudan’s army regain the air supremacy it had toward the start of its war with the RSF, which has increasingly used drones to gain territory, eroding the army’s position.
PAKISTAN’S DEFENSE AMBITIONS
The deal is another feather in the cap for Pakistan’s growing defense sector, which has drawn growing interest and investment, particularly since its jets were deployed in a conflict with India last year.
Last month, Islamabad struck a weapons deal worth more than $4 billion with the Libyan National Army, officials said, for one of the South Asian nation’s largest arms sales, which includes JF-17 fighter jets and training aircraft.
Pakistan has also held talks with Bangladesh on a defense deal that could includes the Super Mushshak training jets and JF-17s, as ties improve ties with Dhaka.
The government sees Pakistan’s burgeoning industry as a catalyst to secure long-term economic stability.
Pakistan is now in a $7-billion IMF program, following a short-term deal to avert a sovereign default in 2023. It won IMF support after Saudi Arabia and other Gulf allies provided financial and deposit rollovers.
