Exports by the IT sector increase by 23.9% in the first nine months of FY20

Information Technology is emerging as an important part of the national economy and the government is trying hard to promote the IT sector.

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Pakistan’s Information Technology (IT) and IT-enabled Services (ITeS) export remittances have increased by 23.9 percent during the first nine months (July-March) of the fiscal year.

These exports consist of computer and call center services.  They increased from $727.353 million in July- March of 2019 to $901.486 million in July-March of 2020.

On the other hand, IT & IT-enabled services (ITes) export remittances, for telecommunication, computer, and information services have increased by 19.91% to $1.054 billion from $878.8 million.

The Pakistan Software Export Board (PSEB) has been directed by the Ministry of IT and Telecommunications to prepare a comprehensive marketing plan and a strategy to accelerate the growth of Pakistan’s IT sector.

Incentives from the IT industry:

The government has prepared an incentive package for the promotion of the information technology sector. It aims to increase Pakistan’s IT exports from its current value of $1 Billion to $10 Billion by 2023

Information Technology is emerging as an important part of the national economy and the government is trying hard to promote the IT sector. 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.

Similarly, there are also plans to develop Special Technology Zones in order to promote IT/ITeS growth. In this regard, a Public Sector Development Program (PSDP) proposal of Rs 6.5 billion has been submitted to the Planning Commission by the Ministry of Information Technology and Telecommunications.

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