Title front - Sindh Board Of Investment, Government Of Sindh

IntroductionGovernment of Sindh started an innovative project to build a state-of-the-art IT City in Karachi,Pakistan. The project objectives are to build a “cluster concept” city which will comprise ITInfrastructure and facilities to help enable Sindh to become a regional centre. This city will be built ona 200-acres piece of land, which is already in the possession of the IT Department, Government ofSindh. Such a city will bring numerous financial and social benefits and is very much in line with theobjectives of the Sindh Government to promote and develop the IT sector in the province.GoalsIT City seeks to:• Spur the development of a knowledge-based economy.• Attract FDI and help create a boom in the IT sector.• Generate employment opportunities in IT and related sectors.• Generate foreign exchange revenues for Pakistan in the vital IT sector.• Act as a beacon for the development of first-rate infrastructure.The Trillion-Dollar Opportunity• As per studies carried out by NASSCOM, Gartner and Forester the current global spending oninformation technology professional services (ITPS) is US $1.045 trillion.• The trillion dollar ITPS opportunity is broken down into US$ 597 billion in IT services and software andUS$ 448 is business process outsourcing (BPO).• Out of the above spending, approximately US$ 280 billion can be outsourced to offshore locations,US$ 160 billion on IT services and software and US$ 120 billion on BPO.All global indicators project high growth in global outsourcing of about 7-8% for the next 5 years in ITPSand 11% in BPO.Why Pakistan?• Pakistan has progressively opened up its economy since 1999 and from 2001 Pakistanhas enjoyedan average annual 6-7% GDP growth.• In 2006, BearingPoint undertook a study which compared the top 36 countries with regard to ITcapabilities and cost of services.• Pakistan was ranked 1st in terms of lowest cost base (labour and occupancy for a benchmark of 200full-time employees).The cost of doing business in Pakistan is 8% of the cost of doing business in the US and is ranked at #1whereas India is ranked #15 at 30% of US cost.Sindh - The Land of Endless Opportunities