STAFF REPORTER
ISLAMABAD: Prime Minister Shehbaz Sharif inaugurated the Freelancers Adventure Capital Initiative in Islamabad, a groundbreaking effort aimed at providing comprehensive financial and professional support to the youth. The initiative seeks to foster startup growth and connect budding entrepreneurs with venture capitalists, with the ultimate goal of boosting IT-based exports.
During the ceremony, Prime Minister Sharif expressed his commitment to providing all necessary resources to harness the potential of the country’s talented youth. He emphasized that effective utilization of youth’s skills could have accelerated the nation’s development in the past.
As part of his vision for the sector, the Prime Minister directed the Ministry of IT to formulate a cohesive mechanism and policy framework for the IT industry, seeking the cabinet’s approval to ensure smooth continuity of projects during the interim government.
Recent data indicates that the net IT export inflows of Pakistan have reached an impressive $2.3 billion, showing a remarkable growth trajectory of 15 percent. Experts attribute this considerable growth to the rise in net exports of computer services.
In the ceremony, Shaza Fatima Khawaja, the Prime Minister’s aide on Youth Affairs, highlighted the initiative’s goal to connect aspiring entrepreneurs with investors, allowing them to capitalize on their innovative ideas.
To further fuel the IT sector’s growth, the federal government has allocated Rs5 billion, including Rs2 billion for venture capital and Rs1 billion each for IT training and IT endowment fund.
With the Freelancers Adventure Capital Initiative in full swing, Pakistan’s youth are set to unleash their potential, bringing new vigor to the country’s startup ecosystem and driving further advancements in the IT industry.