In recent times we have witnessed the evolution of the Pakistani technology ecosystem. The country is the world’s fifth-most populous country. Unfortunately, we adopt the digitization process much slower compared to India, China, and Indonesia. Therefore in the region, we are following the technology field. Despite this, the country has great potential in its youth and emerged as the most vibrant technology ecosystem outside China and U.S. In 220 M population, there is the two-third population under age 30 which give us another advantage.
Global Changes
Though Pakistani culture is rich we were lacing in terms of technology. After years of this lag now there is an improvement in the Pakistani technology ecosystem. Startup boom seen in the year 2021 and more money raised than previous years. Huge invest came from across Asia and Middle East investors. This rapid increase in the technology sector is not accidental but due to the shifting of ground dynamics and results of a pandemic. The certain increase in Pakistan’s tech ecosystem is due to the following three reasons:-
Improvement in the security situation
Investment and international business remain away from Pakistan during the last decade because of the participation war against terror with America as a front-line partner. However, due to improved security situation and continued fencing on Pak Afghan border, encourage foreign investors to invest in the country, especially from China. Moreover, improving mobile connectivity has brought a technology revolution in the region. The number of mobile users jump from 114 m to 180 million and have access to 3G and 4G data.
Legal changes are also improve Pakistani Technology Ecosystem
A major contribution that enables the tech ecosystem in Pakistan is legal and regularity changes. Previously, Pakistani law does not permit foreign companies to own local companies. Now in the year 2020, state banks issue regulations in which foreign investors can support the local startups. Now Pakistani startups can hold foreign companies with ownership stake in the country. These changes in regulation help to open doors for a flood of investment in the country.
Improve mobile connectivity
Pakistan is still on the list of those countries which is under development in the tech sector. However rise in the use of mobile apps like Easypaisa, JazzCash account, and online hotel booking apps shows great progress and interest of the government on this side. This also gives rise to the Pakistani technology ecosystem.
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