ISLAMABAD: Federal Minister Dr Atta-ur-Rahman on Wednesday said the Ministry of Science & Technology will send E-commerce laws to the cabinet next month. Addressing the launching ceremony of Oracle Corporation's 9i, the minister stressed the need for implementing checks and balances in the wake of rapid growth of information technology to avert any future disaster. The minister believed that in the absence of comprehensive IT laws, neither the industry nor the government could meet its targets safely.

The minister said: "IT laws are very important to control software piracy, start online financial transactions, improve education infrastructure, encourage foreign investors and promote local products in the international markets." He said the proposed laws have been formulated with the help of the IT and law experts, who have kept in view the public opinion and feedback in this regard.

The minister asked the IT professionals to send their feedback by reading its text at the ministry's official website (www.most.gov.pk). Dr Atta advised Oracle Corporation to launch an educational project in Sindh. Lauding the role of an Oracle educational institute in Punjab, he pointed out the need for its branch in Sindh. He also spoke of government's commitment to achieve the target of US$1 billion software export in the next five years. Atta said to meet this ambitious task, huge finances have been invested to get 40,000 software professionals.

The minister claimed that foreign investment in this sector was touching the figure $150 million and expected "To enhance up to a colossal target of $400 million in the next fiscal year".

Earlier, Oracle's Regional Director for Marketing Development in South Asia Stuart Buttar noted that Pakistan stood third on Oracle list for high registration rate in the educational facilities with United States of America being on top and India being on the second position.

Oracle's Senior Vice President Shoaib Abbasi spoke on the linkage between development and education with focus of information technology.

His second presentation addressed the dynamics of change in the economics of computing. State Bank of Pakistan's IT Adviser Zafar Iqbal Siddiqi dwelt on the institution automation project. A similar launching ceremony will also be held in Karachi on Thursday.