Tuesday, August 18, 2009

PSEB urged to explore opportunities in Chinese banking sector

Pin It LAHORE (August 18 2009): The NetSol Technologies Limited Chairman and Chief Executive Officer Salim Ghauri has urged the Pakistan Software Export Board (PSEB) to constitute a task force immediately to explore the automation opportunities in China. China is an immediate opportunity for Pakistan IT companies, as its banking sector is automating fast with a vision to expand to the global market in near future.

Chinese banks are all set to flourish and are in an urgent need of diversified software to achieve this goal, Ghauri said in a statement here on Monday. Pakistan has a good number of IT companies with a vast experience in banking sector both inside and outside country thus Pakistani IT companies should immediately look into banking sector of China, he added.

"The Chinese banking sector would be expanding extensively in next 10 years. Similarly, health sector is one of the largest areas where China needs automation," he added. The PSEB should assist companies to make their ways to the Chinese market. Also, Pakistan embassy in Beijing should play a proactive role to avail the strong business opportunities for Pakistani IT companies in China, he added. He lamented that the recent Trade Policy has totally ignored the IT sector as an engine of growth, which reflects the short sightedness of policymakers on this front.

According to him, Pakistan needs an aggressive and growth-oriented industry and the IT industry can play this role in global market. It is not easy to understand why the government has ignored it in the recently announced Trade Policy, he added. The IT industry of Pakistan has shown tremendous growth in recent past. It is a services-oriented industry with no huge investment, required to import hardware in the shape of raw material. Pakistan exports are reached to 210 million dollar, which is a challenge as number is higher than SBP reports

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