Enhancing software-based service significant for expedition of GDP growth: Pokhrel

By TRN Online, Kathmandu, Feb 10: Founder of PB Group, Khemraj Pokhrel has said that enhancing software-based services is essential for expediting gross domestic product (GDP) growth. 

Speaking at the CAN Info-Tech 2024 exhibition being displayed at Bhrikuti Mandap Exhibition Hall in Kathmandu, Pokhrel said that the value addition of the professional scientific and technological sector can be enhance further if we focus on promoting and expanding software-based services specifically for data analysis.

According to the Economic Survey 2022, the valuation addition of the scientific and technological sector is estimated to increase by 3.78 per cent fiscal year 22/23.

He said that quality of services in business, health, politics, and academia could be advanced with the help of data analysis. 

Sharing his experiences as a founder of PB Group, Pokhrel said that government agencies like municipalities, business firms, and non-government organizations have been conducting survey survey apps developed by the PB Group.  It shows that organizations are realizing that a paperless economy could have a larger advantage. It will significantly reduce the cost and time for data analysis.

He said survey apps could be used to know the satisfaction level of consumers, their preferences, and their feedback for business firms, and health firms. Similarly, the software could be developed to build a churn prediction model to know customer churn.

In addition, Pokhrel added that academic professionals have been now relying on software tools to conduct research and data analysis. He informed that students, researchers, and employees have been enhancing skills in SPSS, R, Python, STATA, Power BI, Tableau, GIS. These skills help enable enhance their skills for data analysis.

In 2022, IT service exports contributed 1.4 per cent of GDP and inflow 5.5 per cent of foreign exchange reserve. This shows software service is not only essential for enhancing quality service but help boost the economy. 

Pokhrel said that there are multiple ways for the government to concentrate the essence of IT industry and its expansion. However, some short-term reforms could help ICT firms grow. He pointed out that the government must allow a dollar card limit to 5000 dollar so that IT firm could purchase IT service (which is input) from abroad for the development of advanced software service systems. 

Government must proceed to collaborate with IT firms to enhance and upgrade the government service delivery system.

Last but not least, the government should recognize software as a service sector industry and provide facilities it in the future.