LAHORE, March 4: Prime Minister Shaukat Aziz on Friday asked the businessmen to look beyond the traditional sectors of economy like textiles and start investing in "knowledge based businesses" like information technology (IT).

"In the tomorrow's world, only knowledge-based economies would flourish," he told a gathering at the inauguration of NetSol's IT Village. Mr Aziz said he, during a meeting in Islamabad, had asked 30 top businessmen to invest in IT sector, and several of them had already taken the initiative. He said it was important to invest both in the traditional sectors of the economy and the knowledge based areas for prosperity and growth.

Mr Aziz also elaborated on a number of policy measures adopted by the government for the development of telecommunication sector without which the IT firms could not expand themselves.

He said IT industry did not attract any taxes, which reflected the government's commitment to promote it. He said it was an area which offered most exciting growth opportunities for Pakistan. If other nations like India could excel in it, why can't Pakistan?" he asked.

He said the government was focussing on five areas of priority which included water security, energy security, telecommunication and physical infrastructure development, human resource training, and second generation reforms. The government was investing in these areas for improving them and creating an enabling environment for rapid economic progress and growth, he said.

Mr Aziz defended the government's role as an "enabler", saying it must get out of business. "It is the call of today's world and we should not shy away from it." He, however, urged private sector to learn to become competitive both in price and quality, and said the government would provide fullest support in this endeavour of building a "stable, stronger and more exciting Pakistan".

Earlier, Punjab Governor Khalid Maqbool gave details of effort being made by the province to promote IT education, literacy, and computerization of revenue record as a move towards e-government.

Federal IT minister Awais Leghari also spoke on the occasion to give details of the government measures to develop IT industry and telecommunication sector of the country. He stated the government was working on e-crimes bill and data protection act, which would soon be presented before the cabinet, and tabled in the parliament for approval.