Netsol Technologies Ltd : Year 2010 has better prospect for IT sector’

[LahoreEstate]

Thursday, January 14, 2010
By our correspondent

LAHORE: Netsol Technologies Ltd chairman billed the year 2010 as bright prospects for Information Technology (IT) sector of Pakistan, as both the US and Chinese companies are planning to upgrade their systems by investing heavily in purchase of hardware and software from across the globe.

The chairman is also Task Force on Information & Communication Technologies Chairman (ICT) formed by the federal government to streamline the IT industry of Pakistan.

In a statement, he stated the US, which was considered to be biggest buyer of IT products and services. There are positive signs that the blue chip US companies are planning to invest heavily on replacement of hardware and software in 2010. Similarly, he said China has emerged as a most demanding market for IT services during the last three years.

According to him, a few Pakistani companies have experienced the potential of Chinese market. He said the NetSol is the largest provider of solutions to the Chinese financial institutions and has ensured Pakistan’s place in emerging Chinese financial market.

The China Minsheng Bank has acquired recently NetSol’s software while rejecting some of the world IT giants, solely due to the quality and the services ensured by the NetSol in last five years. Ghauri urged other Pakistani IT firms to explore the potential in the Chinese and the US markets to fetch precious foreign exchange for the country during 2010.

He however lamented that the pace of automation in local public and private companies had been terribly slow during 2009 and an immediate reversal to the existing state of affairs is urgent need of the hour during 2010. But he expressed the hope that the private sector in Pakistan would heavily be poised to invest in automation of their operations during 2010 that would give boost to the local IT scene as a whole. Ghauri said the number of internet users is increasing fast after a slow start about two decades ago. The nation is connected toady with internet due to heavy investment in building up broadband and fiber infrastructures across the country.


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