KARACHI: Pakistan Software Export Board (PSEB) chief executive Abu Bakar has agreed with the proposal of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to establish a Software Technology Park (STP) in Karachi with subsidised services to tenant IT companies. “We are working aggressively to establish a large STP in Karachi to match its enormous, young, skilled and motivated workforce, “ he said during his visit to the FPCCI on Saturday. The PSEB chief highlighted that IT companies internationally are owned by big businesses and corporate groups — a phenomenon lacking in Pakistan — as it enables rapid provision of funds and expansion of these companies. “We need to bring in private-sector, domestic investment into the IT industry of Pakistan,” Abu Bakar added. FPCCI and pseb to form joint working group to help exploit IT export potential FPCCI President Atif Ikram Sheikh has demanded that Karachi needs STPs to help create an enabling environment for the export of IT and IT-enabled Services (ITeS). However, he added that the city grapples with infrastructural challenges to materialise its potential in IT exports and attract investments into the industry on a large scale. He said Pakistan needs to diversify and expand its export basket. The IT industry can deliver the results in the shortest possible time as it has the most efficient turnaround time. Additionally, he added that the IT industry is the only one in Pakistan with the potential to achieve exponential growth in its exports. FPCCI Vice-President Aman Paracha urged the PSEB chief to come forward with a tangible plan to raise awareness among traditional business groups in Pakistan and diversify into the IT industry. Saquib Fayyaz Magoon, Senior Vice-President FPCCI, apprised the PSEB CEO that the apex chamber and Sindh Higher Education Commission (SHEC) have joined hands to organise first-of-its-kind technology startups showcase to generate investments for viable startups and promote them on a national and international scale. Zohaib Khan, former chairman P@SHA, proposed an alliance between IT-related central standing committees of FPCCI, business councils, and PSEB. “There is a need to have a joint working group with objectives to act as a matchmaking platform between IT industry and business community for investment and collaboration, exploring untapped avenues in important export markets like US, Europe, GCC and beyond”, he proposed, and stressed swift visa issuance for the genuine IT exporters, service providers, exhibitors and professionals from Pakistan and create awareness on STPs and special technology zones (STZs).