You are here

  • Home
  • Pakistani-American investors pledge $20 million for Pakistan’s IT sector at California conference

Pakistani-American investors pledge $20 million for Pakistan’s IT sector at California conference

Pakistani-American investors pledge $20 million for Pakistan’s IT sector at California conference
Pakistani-American investors attend Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)
Short Url

https://arab.news/rjkyf

Updated 9 min 47 sec ago
Follow

Pakistani-American investors pledge $20 million for Pakistan’s IT sector at California conference

Pakistani-American investors pledge $20 million for Pakistan’s IT sector at California conference
  • Investment conference draws IT firms, venture capitalists and tech professionals from Pakistani diaspora
  • Pakistan’s IT exports face significant challenges from Internet connectivity issues due to firewall installations
Updated 9 min 47 sec ago
Arab News Pakistan
Follow

ISLAMABAD: A recently held Pakistan-US Tech Investment Conference in California yielded initial commitments of over $20 million by US-based companies led by Pakistani American entrepreneurs, state-run Associated Press of Pakistan (APP) reported this week, describing the development as a “pivotal moment” for the country’s information technology sector.
The event was inaugurated by Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh on Sunday and was organized by the Pakistani Consulate in Los Angeles. It was supported by Pakistan’s Ministry of IT & Telecom, Ministry of Commerce, Pakistan Software Export Board (PSEB) and the Trade Development Authority of Pakistan (TDAP).
The conference was held at Stanford University and drew a broad range of participants, including IT firms, venture capitalists, tech professionals and prominent members of the Pakistani diaspora, the APP reported. Government officials and journalists were also in attendance. 
“A Pakistan-US Tech Investment Conference, held in California, on Sunday, marked a pivotal moment for Pakistan’s IT sector with an initial commitment of over $20 million by American companies led by Pakistani-American entrepreneurs,” APP reported on Monday. 




Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh speaks during Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)

Pakistan’s IT Minister Shaza Fatima Khawaja reiterated the government’s unwavering commitment to advancing the IT sector and achieving an ambitious $25 billion export target during her keynote address. She highlighted strategic initiatives fostering an investor-friendly environment, urging the Pakistani diaspora to seize these opportunities, the state-run media said. 
“Ms. Khawaja said Pakistan’s IT sector was thriving, with exports already exceeding $3 billion,” APP said. “She noted that the government remained fully committed to supporting the IT industry, fostering innovation, and ensuring that the momentum continues to fuel both technological and economic progress.”




Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh (3L), sitting with Pakistan-American investors, speaks during a press briefing at the Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)

The conference featured projects in diverse areas including artificial intelligence, fintech, health tech, e-commerce and software development. These initiatives were aimed at generating employment, attracting foreign investment and seamlessly integrating Pakistan’s IT landscape into the global market.
Sheikh urged American businesses to explore Pakistan’s vibrant market and called on the Pakistani-American tech community to act as a bridge for deeper economic collaboration between the two countries. He also addressed common misconceptions, reaffirming Pakistan’s reputation as a flourishing investment destination which he said was also being recognized at the global level.
The PSEB delegation, led by its chief executive officer, included 11 Pakistani startups. A representative from the US State Department’s economic team for Pakistan also attended the event, reinforcing bilateral support from Washington, the state media said. 




Participants gesture for a group photo with Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh during Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)

While Pakistan collaborates with countries such as Saudi Arabia and others in IT frequently, its IT exports face significant challenges due to Internet connectivity issues stemming from firewall installations to regulate content and social media platforms. This hinders local tech firms’ ability to communicate with international clients and results in delayed deliveries, loss of business opportunities and a tarnished reputation for Pakistan’s IT industry, ultimately stifling growth and costing millions of rupees in losses.

Topics: Pakistan US Ties Pakistan IT industry Pakistani investors

Pakistan PM praises Muslim World League for advocating Muslim causes, fostering unity

Pakistan PM praises Muslim World League for advocating Muslim causes, fostering unity
Updated 9 sec ago
Follow

Pakistan PM praises Muslim World League for advocating Muslim causes, fostering unity

Pakistan PM praises Muslim World League for advocating Muslim causes, fostering unity
  • Shehbaz Sharif met with MWL Secretary-General Sheikh Dr. Mohammad bin Abdulkarim Al-Issa in Riyadh
  • The two figures discussed various projects and initiatives that were being planned by the two sides
Updated 9 sec ago
Arab News Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday met with Muslim World League (MWL) Secretary-General Sheikh Dr. Mohammad bin Abdulkarim Al-Issa and praised his organization for advocating the causes of and fostering unity among Muslim countries, Sharif’s office said.
Sharif met the secretary-general of the MWL, a Makkah-based non-governmental organization that represents followers of Islam around the world, in the Saudi capital of Riyadh, where the Pakistan premier was attending an extraordinary Arab-Islamic summit on the situation in Gaza and Lebanon, and rising tensions in the Middle East amid ongoing Israeli military campaigns.
He appreciated the “remarkable” work being done by the MWL in promoting the true image of Islam around the world, particularly lauding the leadership of the secretary-general in steering the organization.
“Muslim World League had a critical role in advocating for Muslim causes and spreading the message of fraternity, tolerance and mutual respect,” he said. “[This] is particularly important during the ongoing conflict in Gaza and various other challenges confronting the Muslim world.”
The Prime Minister recalled the secretary-general’s visit to Pakistan in April this year and said he was looking forward to early completion of various projects and initiatives that were being planned by the two sides.
He mentioned the establishment of the Seerat Musuem in Pakistan and said this noble project would be instrumental in highlighting various aspects of the life and teachings of the Prophet Muhammad (Peace Be Upon Him).
Sharif laid the foundation stone of the museum that would exhibit relics related to the life of Prophet Muhammad (Peace Be Upon Him) at a ceremony in Islamabad on April 14, which was also attended by the MWL secretary-general.
Through these projects, Sharif said, the MWL was attracting the attention of younger generation and reinforcing the timeless message of Islam by using latest digital technologies. He hoped to receive the secretary-general soon in Pakistan to build on the momentum and fast track implementation of ongoing projects.
“The Secretary General of Muslim World League praised the Prime Minister for his commitment and efforts to further strengthen ties between Pakistan and Muslim Ummah,” Sharif’s office said. “He also congratulated the Prime Minister on the success of his recent visits to Saudi Arabia.”

Topics: Muslim World League Pakistan Prime Minister Shehbaz Sharif Arab-Islamic summit

Pakistan PM arrives in Baku seeking ‘predictable’ climate financing at COP29

Pakistan PM arrives in Baku seeking ‘predictable’ climate financing at COP29
Updated 13 min 24 sec ago
Follow

Pakistan PM arrives in Baku seeking ‘predictable’ climate financing at COP29

Pakistan PM arrives in Baku seeking ‘predictable’ climate financing at COP29
  • The annual UN climate summit, which opened on Monday, is expected to see tough talks on finance and trade
  • PM Shehbaz Sharif will call on developed nations to undertake deeper emission cuts, Pakistani foreign office says
Updated 13 min 24 sec ago
SAIMA SHABBIR

ISLAMABAD: Prime Minister Shehbaz Sharif arrived in Baku, Azerbaijan today, Tuesday, to attend the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), where he would call for “predictable financing” for developing countries to fight climate change.
The annual UN climate summit, which opened on Monday, is expected to see tough talks on finance and trade, following a year of weather disasters that have emboldened developing countries in their demands for climate cash. Nearly 200 countries are gathering for the summit, where reaching a consensus for a deal among so many will be difficult.
PM will address the World Leaders Climate Action Summit on Nov. 13, while he will also attend several high-level events on the sidelines of the summit and hold bilateral meetings with world leaders, according to the Pakistani foreign office.
“At the COP29, Pakistan will call for balanced and ambitious progress on all issues such as loss and damage, adaptation, mitigation and means of implementation. It will seek predictable financing to address developing countries’ climate goals,” it said in a statement. 
“Pakistan will also underscore the historical responsibility and the principle of Equity and Common but Differentiated Responsibility and call on developed nations to undertake deeper emission cuts.”
Pakistan is ranked the 5th most vulnerable country to climate change, according to the Global Climate Risk Index. In 2022, devastating floods killed over 1,700 people and affected over 33 million, with economic losses exceeding $30 billion. International donors last January committed over $9 billion to help Pakistan recover from the ruinous floods but little of that cash has yet to trickle in, according to officials.
Pakistan also regularly faces other climate change-induced affects such as droughts, cyclones, torrential rainstorms and heatwaves. Currently, record-high air pollution levels have triggered hundreds of hospitalizations, school closures and stay-at-home orders in the eastern city of Lahore and other cities in the populous Punjab province, which has been enveloped in a thick, toxic smog since last month.
A mix of low-grade fuel emissions from factories and vehicles, exacerbated by agricultural stubble burning, blanket Lahore and its surroundings each winter, trapped by cooler temperatures and slow-moving winds. The city of 14 million people stuffed with factories on the border with India regularly ranks among the world’s most polluted cities, but it has hit record levels this month, as has New Delhi.
Officials said this month Pakistan will urge developed countries at COP29, being held from Nov. 11 till Nov. 22, to fulfill past pledges and provide easy access to climate funding without attaching conditions.
“Pakistan is very clear on our stance on what we need from all the developed countries when it comes to the pledges, one, they need to complete their pledges, they need to fulfill their pledges, and two, easy access to the fundings,” Romina Khurshid Alam, PM Shehbaz Sharif’s coordinator on climate change, told Arab News in an interview on Nov. 8.
Pakistani authorities have said archrivals Pakistan and India need to coordinate actions to temper toxic smog, which winds carry across the border.
“We are open to dialogues and open to come up with the solution, we want to get the things done by dialogue,” Alam said, noting that the chief minister of Pakistan’s Punjab had also urged India to pursue diplomacy to resolve this issue.
“This is not a game, the main thing is to think about the children and to think about the future.”
Last year, the Punjab government tested artificial rain to try to overcome the smog, and this year, trucks with water cannons have sprayed the streets, with no results.
The World Health Organization says air pollution can trigger strokes, heart disease, lung cancer and other respiratory diseases. It is particularly punishing for children and babies, and the elderly.

Topics: Pakistan at COP29 UN COP29

UN warns toxic smog in Pakistan’s Punjab province is endangering children

UN warns toxic smog in Pakistan’s Punjab province is endangering children
Updated 11 November 2024
AP
Follow

UN warns toxic smog in Pakistan’s Punjab province is endangering children

UN warns toxic smog in Pakistan’s Punjab province is endangering children
  • Toxic smog has shrouded Lahore and 17 other districts in Punjab since last month
  • Health officials say over 40,000 people have been treated for respiratory ailments
Updated 11 November 2024
AP

ISLAMABAD: The UN children’s agency on Monday warned that the health of 11 million children in Pakistan’s eastern Punjab province is in danger because of air pollution that experts say has become a fifth season in recent years.
Toxic smog has shrouded Pakistan’s cultural capital of Lahore and 17 other districts in Punjab since last month. Health officials say more than 40,000 people have been treated for respiratory ailments.
UNICEF’s representative in Pakistan, Abdullah Fadil, in a statement urged the government to make urgent and greater efforts to reduce air pollution for the 11 million affected children under the age of 5 and others.
“Prior to these record-breaking levels of air pollution, about 12 percent of deaths in children under 5 in Pakistan were due to air pollution,” Fadil said. “The impact of this year’s extraordinary smog will take time to assess, but we know that doubling and tripling the amount of pollution in the air will have devastating effects, particularly on children and pregnant women.”
Pakistan has shut schools until Nov. 17 in parts of Punjab as part of measures aimed at protecting children’s health. Authorities on Friday ordered the closure of all parks and museums for 10 days, and they have been urging people to avoid unnecessary travel.
According to the Environmental Protection Department in Punjab, Multan remained the most polluted city on Monday, with air quality index readings of about 800. Anything over 300 is considered hazardous to health.
Though the government has ordered the mandatory wearing of face masks, that has been widely disregarded. The government has also said it was looking into methods to induce artificial rainfall to combat the pollution.

Topics: Punjab smog

At Arab-Islamic summit, Pakistan PM says independent Palestinian state only ‘avenue toward peace’

At Arab-Islamic summit, Pakistan PM says independent Palestinian state only ‘avenue toward peace’
Updated 11 November 2024
&
Follow

At Arab-Islamic summit, Pakistan PM says independent Palestinian state only ‘avenue toward peace’

At Arab-Islamic summit, Pakistan PM says independent Palestinian state only ‘avenue toward peace’
  • PM Shehbaz Sharif criticized the world for its ‘indifference and inaction’ on the situation in Gaza and Lebanon, saying they had emboldened Israel
  • In his statement, the Saudi crown prince demanded the world must ‘immediately halt the Israeli actions against our brothers in Palestine and Lebanon’
Updated 11 November 2024
KASHIF IMRAN & Hasaan Ali Khan

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday reiterated Pakistan’s complete support for an independent Palestinian state, saying it was the only “avenue toward peace” in the Middle East.
Sharif said this while addressing an extraordinary Arab–Islamic summit, hosted by Saudi Arabia in Riyadh, to discuss Israeli military actions in Gaza and Lebanon and escalating tensions in the Middle East.
Israel has waged a war in Gaza since October last year, killing over 43,000 people and rendering the strip almost uninhabitable. Last month, it also invaded Lebanon and has since killed 3,000 people there.
Sharif said the humanitarian crisis in Gaza had reached a level beyond imagination, criticizing the international community for its silence on Israel’s continued bombing of Gaza and Lebanon.
“Pakistan stands firm in its commitment to Palestine’s right to self-determination. We reiterate our unwavering support to establish an independent, viable and contiguous state of Palestine... This is the only avenue toward peace and justice in the holy land,” he said.
“We equally denounce Israel’s ongoing military aggression against Lebanon and stand in complete solidarity with its innocent people. Such escalations constitute a dangerous threat that could unleash a broader war.”
The Pakistan prime minister criticized the world for its “indifference and inaction” on the situation in Gaza and Lebanon, saying they had emboldened Israel.
“With each passing day every moral code has been blatantly violated by Israel yet the killing and destruction continues with no end in sight,” he said.
“The international humanitarian laws meant to protect the vulnerable have been torn to shreds... Humanity is being tested and failing. While Gaza bleeds, the world watches in silence.”
Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters.”
Since the beginning of Israel’s war on Gaza and Lebanon, Islamabad has dispatched more than 1,300 tons of relief goods for Gaza and Lebanon, besides establishing the ‘Prime Minister’s Relief Fund for Gaza and Lebanon’ that aims to collect public donations for the war-affected people.
Sharif said Muslim countries were bound “by faith and our conscience” to stand with the people of Palestine and not let this “systematic genocide” persist, urging the summit to call for an immediate and unconditional ceasefire, arms embargo on Israel, lifting of Israel’s blockade of Gaza, ensuring prompt delivery of food, water, electricity and medical aid, accountability of Israel for its “war crimes,” and a comprehensive review of Israel’s membership of the United Nations (UN).
“Let this summit be a moment of transforming our voices into actions,” he said. “Together we must move beyond condemnation and act swiftly to uphold justice and dignity for the people of Palestine and all those who face oppression.”
Monday’s summit was a follow-up to the Joint Arab-Islamic Extraordinary Summit held in November 2023 in Riyadh.
In his opening statement at the summit, Crown Prince Mohammed bin Salman again renewed Saudi Arabia’s rejection of Israeli attacks in Gaza and violations of Lebanon’s sovereignty. He criticized the obstruction of humanitarian agencies’ work in Gaza and rejected diminishing the role of the Palestinian Authority.
Israel had formally notified the UN of its decision to sever ties with the United Nations Relief and Works Agency (UNRWA) for Palestinian refugees after Israeli lawmakers backed the move last week.
The international community must “immediately halt the Israeli actions against our brothers in Palestine and Lebanon,” the crown prince said, condemning Israel’s campaign in Gaza as “genocide.”
“We condemn the Israeli military operations that targeted Lebanese territories and we reject anything that threatens Lebanon’s stability and safety as well as anything that violates its territorial integrity.”
He also condemned attacks on Iranian territory.

Topics: Arab-Islamic summit Pakistan Saudi Ties Palestine Pakistan Gaza Israel Arab News Pakistan

Pakistan allows Hajj fee payments in installments in new policy

Pakistan allows Hajj fee payments in installments in new policy
Updated 11 November 2024
Follow

Pakistan allows Hajj fee payments in installments in new policy

Pakistan allows Hajj fee payments in installments in new policy
  • Pakistan will send 179,210 pilgrims under government scheme and through private operators
  • The government will prioritize first-time pilgrims in the official balloting process, minister says
Updated 11 November 2024
Hasaan Ali Khan

ISLAMABAD: Pakistan’s Religious Affairs Minister Chaudhry Salik Hussain on Monday unveiled the Hajj Policy 2025, announcing an instalment plan for pilgrims to pay Hajj fees.
Hajj is one of five pillars of Islam, annually undertaken by millions of Muslims. Pakistan has one of the largest Hajj quotas provided by Saudi Arabia to any Muslim country amid immense demand for the pilgrimage, with many citizens waiting for years for an opportunity to participate.
Next year’s Hajj under the government scheme is expected to range between Rs1,075,000 to Rs1,175,000, while an additional cost for the sacrifice will be Rs55,000, according to the religious affairs minister.
The first installment of Hajj dues, amounting to Rs200,000, must be deposited along with the Hajj application under the government scheme, while the second installment of Rs400,000 must be deposited within ten days of the balloting. The remaining amount must be deposited by February 10 next year.
“If you submit Rs200,000 at the time of the application and your name comes (in the lucky draw) then you will submit Rs400,000 before the rest of the amount between Feb. 1-10,” Hussain said at a press conference.
The Pakistani government approved the new Hajj policy earlier this month, having a quota of 179,210 pilgrims who would be facilitated under the government scheme and through private tour operators.
Hussain said the move would facilitate people who could not make large payments at once, clarifying that Rs50,000 would be deducted if the first instalment is withdrawn whereas Rs200,000 would be deducted if the third instalment was not submitted.
Preference would be given to those going for the pilgrimage for the first time, according to the minister. As per the new policy, children under the age of 12 will not be allowed to travel for Hajj.
“The traditional long package for the official Hajj scheme will cover 38 to 42 days and the short package will cover 20 to 25 days,” Hussain added.

Topics: Pakistan Saudi Ties hajj Hajj 2025

Latest updates

Trump set to name Marco Rubio secretary of state: NYT
Trump set to name Marco Rubio secretary of state: NYT
Trump selects Mike Waltz as national security adviser, sources say
Trump selects Mike Waltz as national security adviser, sources say
UN Security Council considers action on Sudan war
UN Security Council considers action on Sudan war
US climate action won’t end with Trump, envoy tells COP29
US climate action won’t end with Trump, envoy tells COP29
Turkiye mulls unifying telecom fiber infrastructure in one entity, official says
For years Ankara has demanded that telecom operators invest more to accelerate fiber network expansion. (REUTERS)

Search form

Print Edition
Read pdf version Subscribe now
© 2024 SAUDI RESEARCH & PUBLISHING COMPANY, All Rights Reserved And subject to Terms of Use Agreement.