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The IT industry of Pakistan is going a pleasant fast and thick changeover thanks to the priority it is enjoying under the present government. After years of un-kept promises Karachi is finally going to have the first IT Technology Park within next three months. In addition, the Sindh Regional office of Pakistan Software Export Promotion Board has started operations this month. PAGE highlights the developments shaping the industry at present.

In order to ascertain the magnitude of losses the economy has suffered in Pakistan, the Economic Section of the US Embassy in Islamabad had initiated a survey regarding drop in production of the manufacturing sector to assess the impact of September 11, 2001. Information is being collected regarding overall performance of the industrial sector in terms of output loss, increase in costs of production, fall in export orders, increase in freight and insurance charges, use of raw material etc. The undertaken exercise seems aiming at preparing the economic package for Pakistan.

A serious problem faced by investors is delay in getting the share transferred, which can be overcome by making securities live on Central Depository System. Despite the efforts by CDC all the securities cannot become live due to resistance by the sponsors. The regulators must resolve the issue at the earliest.

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