Some reason for optimism

February 1, 2009 at 9:10 am 9 comments

We have all been very nervous about the worldwide economic crisis and, to some extent, our industry has been impacted by it especially companies who had projects in the financial space in the US. However, last week I received calls from several companies in Karachi and Lahore and this is what they told me:

1. One company is looking to hire 30 top notch software engineers right away.
2. Another one is looking to increase its strength of software programmers from 50 to 100 over the next three months.
3. A BPO player is looking to hire between 100-150 people within the next 30 days because of new contracts signed in the US
4. A company in the mobile space is on the verge of signing two new significant export contracts.

All this is great news. That means our optimism that this recession could spell out new opportunities for companies in select expertise areas, was not far off the mark. This does not of course mean that we should be complacent. The financial tsunami is not going to be short-lived and many companies are facing and will face challenges in the next 12 – 18 month time frame. We will need to be prudent and will need to look for new opportunities in the domestic and export markets to ride out the crisis.

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9 Comments Add your own

  • 1. Adeel Javed  |  February 1, 2009 at 9:32 pm

    I hope you are considering Techlogix in this, because we are looking for quite a few Software/QA Engineers, all thanks to realization in the Pakistani industry🙂.

    Reply
  • 2. Yousuf  |  February 1, 2009 at 9:33 pm

    the back bone of world’s economy at the moment is the consumer power of an average US citizen. If the economic melt down stays that way, it will lead to reduced buying power which in turn means overall economic shrinking. Lets see.

    Reply
  • 3. Jehan  |  February 1, 2009 at 9:35 pm

    Well no Adeel I hadn’t heard about the staff needs at Techlogix but thanks for telling me. I will now add Techlogix to my list.🙂

    Reply
  • 4. Adeel Javed  |  February 1, 2009 at 9:57 pm

    Just to add that all this expansion is happening because we are getting a lot of good business from within Pakistan, for your reference just look at http://techlogix.com/news.htm (June 2008 news).

    Reply
  • 5. Ali Muslim  |  February 2, 2009 at 10:07 am

    Yes now is a good opportunity for Pakistan to catch up with the international IT market. Indeed! we must keep the hope & should work for a better tomorrow.

    Giant IT firms of our neighboring country are having tough days. Alike the powerful dinosaurs who once ruled the earth is now only found fossilised, while the feeble cockroaches proved to be the greatest survivors; even after millions of years. For us, opportunity is there.

    Hope the point is convincing🙂

    Reply
  • 6. Some reason for optimism / LiveFromPakistan  |  February 2, 2009 at 12:56 pm

    Some reason for optimism…

    We have all been very nervous about the worldwide economic cr …

    Reply
  • 7. Arsalaan Haleem  |  February 6, 2009 at 7:57 pm

    As someone recently said that even recession provides a lot of opportunities. The only difference btwn firms that fail and those who succeed in such times is lack of innovation.

    And, even if this recession lasts 12-18 months, (which I personally believe that it will be over in next six months) then this is the best time for new startups and emerging entrepreneurs to look for hidden opportunities and innovate their offerings to suit current financial crunch. There are lot of opportunities waiting to be found.

    Reply
  • 8. mansoor  |  February 9, 2009 at 11:54 am

    i echo your sentiments, i personally know of atleast two companies in Islamabad that are growing their staff by upto 150% these days.

    long live IT🙂

    Reply
  • 9. Zaeem  |  February 26, 2010 at 11:09 pm

    Well, overall it’s all about the type of business and especially the needs that evolve with the passage of time. For some, it’s a downfall and for some opening of new horizons. As per the IT is concerned, we are like 50 years behind so it’s like too dumb to be effected.

    Reply

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