Browsing: Technology

In 2023, Pakistani startups grappled with a substantial 70% funding drop to $70 million amid political and economic challenges, but a promising uptick in Q4, securing $38.6 million across 15 deals, fuels optimism for 2024’s expected rebound after the general elections and structural reforms.

Caretaker IT Minister Dr. Umar Saif announces successful tech initiatives, enabling freelancers’ remittances via PayPal and paving the way for 5G in Pakistan. He urges the incoming government to sustain digital progress.

The Pakistani government, through an agreement, has enabled freelancers to route remittances via PayPal, a move set to boost the country’s tech profile. Additionally, a policy allowing IT companies to retain 50% of export revenue in dollars has led to a notable 13% monthly increase in export earnings.

Dr. Umar Saif, Pakistan’s Minister for Information Technology, is set to launch 10,000 E-Rozgar centers on January 11, providing essential support for the country’s 1.5 million freelancers. Additionally, a new initiative introducing standardized tests for IT graduates aims to bridge the gap between available skills and employment opportunities in the IT sector.

In a progressive move, Sindh is providing electric bikes to 55 female vaccinators, improving vaccine distribution efficiency and showcasing a commitment to inclusivity and gender empowerment in public health management. The initiative addresses logistical challenges and ensures timely vaccination coverage.

Justice (R) Syed Arshad Hussain Shah, the caretaker Chief Minister of Khyber Pakhtunkhwa, initiates the “Program for Training and Employment” to address youth unemployment, aiming to train and place over one hundred thousand individuals in sectors like IT, Nursing, and Paramedics. The program reflects a concerted effort to boost employability and foster economic growth in the region, emphasizing practical skills aligned with market demands.

Umaira Sheraz, an Islamabad Police officer, created history by finishing the 53km Sohail Memorial Ultra Marathon in an impressive 6 hours, 47 minutes, and 51 seconds, setting a new record and highlighting the exceptional achievements of women in Pakistan. Her feat inspires as she becomes the first and youngest female athlete to conquer this challenging race.

NUST’s Formula Student Team (NFST) is teaming up with Tesla to create a hybrid vehicle, blending a Honda engine with Tesla’s advanced battery management. Anticipated for completion in March-April 2024, NFST aims for global success following their recent triumphs at Formula Student UK 2023.

Pakistan’s IT industry reports an impressive 11.66% YoY surge in November’s service exports to $259 million, reflecting substantial growth attributed to government policies. With a commitment to reaching $10 billion in IT exports, the focus on reducing import dependence signals a positive trajectory for the domestic IT sector.

Health-tech startup Sehat Kahani, founded by doctors Dr. Sara Saeed Khurram and Dr. Iffat Zafar Aga, secured $2.7 million in a Series A funding round led by Amaanah Circle. The platform, offering seamless virtual connections between doctors and patients, plans to use the funds to enhance features, including AI tools, and expand globally after experiencing a 141% average year-on-year growth in the last three years.