RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) President Zahid Latif Khan on Tuesday said information technology sector contributed $2.8 billion to the country’s export.

He was addressing a financial technology conference (FinTech) at a local hotel.

The major purpose of this conference was to promote use of information technology (IT) and to create awareness among key stakeholders of its use in financial management, lowering cost of production and bringing innovation in their businesses.

He said with the government support exports in the sector could be enhanced to $5 billion in next three years.

The RCCI president said in Pakistan the IT industry had great potential and urged the government to provide favourable environment for the promotion of IT in different sectors including banking (e-banking), medicine (telemedicine) and manufacturing (e-designing).

He said in recent years e-commerce had doubled its penetration in Pakistan and said this would further grow in coming days.

Mr Latif said IT sector was growing exponentially in Pakistan. He also highlighted key initiatives of RCCI in promoting IT in the region includingICTawardsand e-health conference.

With the increase of internet penetration in Pakistan, he said, the IT sector offered huge potential for local companies to join hands with multinational companies.

He said e-commerce was the future mode of conducting business, and would provide an opportunity to small and medium enterprises (SMEs).

Chairman RCCI committee on information technology Raja Umer Iqbal said that Rawalpindi and Islamabad had 40pc share in the IT business as many multinational companies have established their offices here.

CEO Fauji Fertilizer Company (FFC) retired Lt-GenTariq Khan said that financial management offered big challenges and adaptation of modern information technology could help consumers in a big way.

“A joint effort is required from the society and the government to evolve our key financial sectors, banking, insurance and corporate sector into modern digital format.

“Technology is growing very fast and we must be ready to meet the future challenges of security under financial management,” he said.

Representatives from Securities and Exchange Commission of Pakistan (SECP), SBP and Pakistan Software Export Board also discussed the key initiatives to improve users experience in financial services with incorporation of information technology.

Senior Vice President Nasir Mirza, Vice President Khalid Farooq Qazi,former presidents, members of the executive committee and a large number of IT companies’ representatives attended the conference.

Published in Dawn, August 8th, 2018