In a bid to promote entrepreneurship, and generate employment in the private sector, the government is taking steps to facilitate young entrepreneurs to set up their companies. The Software Technology Parks or the e-Rozgaar Centers are a step in this regard.
The Ministry of Federal Education and Professional Training has set up the latest facility at the Islamabad College for Girls in the F-6/2 area of Islamabad after a previous one was inaugurated at the Islamabad Model College for Girls (PG) in the F-7/4 area.
According to the Minister for Federal Education and Professional Training Dr. Khalid Maqbool Siddiqui, this initiative is aimed at empowering the youth by facilitating them with the provision of requisite resources in the era of economic digitalization. Therefore, the minister said, the centers will not only bring together industry and academia but will also aid entrepreneurship in the country.
MNA Abdul Aleem Khan, who was the chief guest on the occasion, appreciated the step, saying that it would be transformative for the country’s youth. He added that the government was laying the foundation of economic digitalization by providing the youth with these facilities and a conducive environment to conduct their business.
Ministry of Federal Education and Professional Training Secretary Mohyuddin Ahmad Wani declared these IT parks as communities and platforms, which would lead to the growth of the IT sector and subsequently the national economy. Similar sentiments were echoed by the representatives of the Pakistan Software Export Board (PSEB), who stressed the importance of such projects in helping Pakistan build a rapport in the global IT sector.
So far, the government has established five centers in the federal capital. They are located at ICB G-6/3, ICG F-6/2, IMCG (PG) F-7/4, IMCB F-8/4, and IMCB F-10/4. These centers are modern areas that allow entrepreneurs to collaborate and subsequently innovation to flourish.
Shark Tank
Moreover, the renowned television show ‘Shark Tank’ is all set to debut in Pakistan to promote the flow of ideas and aid entrepreneurship. The show originated in the United States and has also aired in regional countries.
In the show, participants pitch their ideas to the panel in the hopes of securing funding. The panel, which comprises ‘sharks’, or renowned businesspersons, is well-equipped to fund the businesses of young entrepreneurs. In itself, the show is an ideal setting to connect those with ideas with those who have funds.
Entrepreneurial landscape
Lately, the government has been focusing a lot on promoting entrepreneurship in the country, considering that it can utilize the potential of the country’s youth population. The existing employment landscape appears to be insufficient for the bulging youth populace. Jobs are scarce and the public sector is overloaded beyond capacity. The government has been urging the youth to venture into entrepreneurship to find better avenues for themselves and to create employment opportunities for others.
However, the atmosphere is not entirely conducive to entrepreneurship. Pakistan faces a set of challenges. The recent internet slowdown and the concerns about a national firewall aimed at regulating the internet have created an atmosphere of uncertainty. Many businesses now operate via the internet and when the recent slowdown happened, businesses incurred major losses and were at risk of coming to a standstill.
Moreover, a majority of the country’s youth finds freelancing to be better than scoring jobs locally. While freelancing does not guarantee financial consistency, it raises the economic prospects of an individual who fares better on the freelance platforms. Besides, this also helps the government indirectly as the freelancers bring in valuable foreign exchange for Pakistan.