By Ayesha Mudassar ISLAMABAD, April 01 (INP-WealthPK): Introduction of innovation and focus on research and development in diverse sectors, including textiles, agriculture, information technology, tourism, halal food and housing, as well as precious metals can help Pakistan boost productivity and exports. “Pakistan possesses immense potential in the field of information technology,” Mohammad Shoaib Aslam, domestic business facilitation officer at Pakistan Software Export Board (PSEB), told WealthPK. “The IT and telecom sector is on track to accomplish its export objective of $3.5 billion by the end of the current fiscal year, and is expected to reach its set target of $5 billion in export proceeds within the next three years.” Tania Sufi, strategy manager at the Universal Service Fund (USF), told WealthPK that USF is working on 32 projects worth Rs22 billion to bring connectivity to unserved and underserved areas across the country, benefiting approximately four million people from 10,132 villages in 50 districts. Pakistan also possesses great potential in boosting agriculture productivity, but there is a need to introduce modern technology and tools to enhance the per acre yield to help the country save the foreign exchange incurred on imports. Asma Akbar, a scientist at the National Agriculture Research Centre (NARC), told WealthPK that the main reason behind seed import is a lack of technology through which we can perform vast multiplication. She said adoption of agricultural technologies and modern seed development methods will help promote smart farming and smart farm production while also increasing small farmer incomes. Pakistan has the potential to generate billions of dollars from halal food exports, but the players in the sector need a favourable working environment and supportive regulatory framework. Currently, halal food has a worldwide market of $1.2 trillion with Pakistan's share only $0.6 billion. According to Pakistan-China Joint Chamber of Commerce and Industry, there is a dire need to devise a concrete strategy to promote exports as Pakistan lags behind in the industry due to limited number of skilled labour and a lack of modern techniques. The country's market potential in gems and jewellery is $30 billion, but exports are limited due to inadequate facilities. “The northern areas, Balochistan, and Khyber Pakhtunkhwa provinces are rich in precious stones,” Aftab Ahmad, director of information at Punjab’s mines and minerals development department, told WealthPK. “To boost the mineral sector and increase its contribution to GDP, focus should be on providing necessary technical inputs to local miners.” It is to note here that currently, 65% of Pakistan's trade is concentrated in just 10 countries, and bilateral trade with regional and friendly countries is insignificant. To achieve prosperity, the country needs to re-establish trade ties with emerging regional and global markets, including Central Asian countries, Russia, Turkey, Africa, and the Association of Southeast Asian Nations (ASEAN). Investment in modern technologies is imperative as automation increases output, reduces cost, saves time and guarantees better quality and competitiveness in the global market. More allocations for industrial research are required for rapid industrialisation.