Netsol chief on Pakistan’s IT growth, governance, and global potential

Netsol Chairman and CEO Najeeb Ghauri, in a podcast with Kamran Khan, highlighted Pakistan’s growing IT sector, the importance of political stability, and the need to empower young professionals.

He spoke about Netsol’s journey, the role of Lahore as a tech hub, and how freelancers and startups can drive economic growth.

Bringing US capital to Pakistan’s tech industry

Ghauri shared how he transitioned from a corporate career in the U.S. to taking a risk in the public market with a focus on Pakistan. In 1997, he partnered with U.S.-based venture capital firms to raise funds for an IPO, identifying Pakistan’s untapped IT potential.

“We were pioneers in a nascent industry. Observing India’s IT boom, we knew Pakistan had opportunities,” he said. By 1997, venture capitalists started recognizing Pakistan as an emerging market.

Netsol Pakistan was founded through Netsol Technologies USA, and the company’s first major breakthrough came in 1996 when Ghauri’s brothers secured a software deal with Mercedes-Benz in Thailand.

Lahore: The hub of Netsol’s global operations

Lahore has become the nerve center of Netsol’s operations. “90 percent of our work happens in Lahore. While we have sales offices worldwide, product development, innovation, and creation are all based in Lahore,” Ghauri explained.

He praised Pakistan’s talent pool, saying, “We attract individuals from top universities, training them as programmers and engineers.” Netsol employs 50 to 100 young professionals in Lahore, a city he describes as the backbone of the company.

Freelancers in Pakistan: Cost advantage in global IT

Ghauri commended Pakistan’s growing freelancing industry, emphasizing the independence and opportunities it provides. “Freelancers don’t need a company to succeed. They can work locally and internationally,” he noted.

Pakistan’s IT exports are expanding, reaching multi-billion-dollar figures. “Compared to neighboring countries, we have a cost advantage. If more professionals engage in software exports, it will drive a significant shift,” he added. He urged the government to ease financial transactions for companies like Netsol.

Pakistan’s IT Industry: The next growth engine

Pakistan’s young population presents vast economic potential, with over 60% under the age of 30. “The World Bank sees Pakistan’s youth as a key driver of growth,” Ghauri said. While traditional industries like textiles and agriculture remain dominant, IT is an emerging sector.

“Lahore is establishing itself as Pakistan’s IT hub, with Karachi and Islamabad also playing a significant role,” he noted. He remains optimistic about the industry’s future, saying, “Pakistan’s IT sector has no downside. We have never lost money operating here.”

Stability and continuity: The need for five-year governance

Addressing governance, Ghauri stressed the need for political stability. “Governments must complete their five-year terms. The hunger for power must end,” he asserted.

He acknowledged the military’s role in safeguarding the country but urged politicians to prioritize national interests over personal agendas. “Pakistan belongs to its people, not politicians,” he said.

Ghauri also highlighted the importance of restoring investor confidence. “Many business leaders can afford to pay taxes but hesitate due to a lack of trust in the government,” he explained. He called for policies that reassure overseas Pakistanis and present the country as a secure business destination.

Ghauri reiterated his belief in Pakistan’s youth-driven future. “We need to empower them and provide opportunities. Pakistan’s potential is limitless.”