Pakistan’s IT export remittances surge to $901.486 million

ISLAMABAD: The country’s information technology (IT) and IT-enabled Services (ITeS) export remittances have surged to $901.486 million at a growth rate of 23.94 percent during the first nine months (July-March) of the fiscal year 2019-20 compared to $727.353 million during the same period of last year.

According to performance report of Pakistan Software Export Board (PSEB), an organization under Ministry of IT and Telecommunication, IT & IT-enabled services (ITes) export remittances comprising of computer services and call center services have surged to $901.486 million at the growth rate of 23.94 percent over the first nine months (July-March) of the fiscal year 2019-20 in comparison to $727.353 million during the same period of 2018-19,

The IT & IT-enabled services (ITes) export remittances, including telecommunication; computer and information services have surged to $1.054 billion at a growth rate of 19.91 percent over the first nine months (July-March) of the fiscal year 2019-20 in comparison to $878.8 million during the same period of 2018-19.

The Ministry of IT and Telecommunication has instructed the management of Pakistan Software Export Board (PSEB) to make a comprehensive marketing plan and set up a policy to speed up the growth of Pakistan’s IT sector.

On the orders of the Federal Minister for IT and Telecommunication, Ministry of Information Technology and Telecommunication is making special efforts to promote IT exports and encourage IT companies.

The government has prepared an incentive package for the promotion of the information technology sector, envisaging increasing IT sector exports from the current around $1 billion to $10 billion by 2023.

Information Technology is emerging as a vital organ of the national economy and the government is paying a great deal of heed to promote the IT sector, maintained in official documents. The incentives package includes various measures and is being designed after a thorough analysis of other important IT destinations of the region like the Philippines, China, Bangladesh and India.

A summary to the PM Khan is under process to support Pakistani products and to give preference to Pakistani software products by all ministries, divisions which would assist in the growth of IT business.