In an optimistic development, Pakistan’s IT exports reach an all-time high
Moderate growth of 2.44pc has been recorded in the IT sector: State Bank of Pakistan.
IT exports are three times higher than the payments reported by the central bank.
In the financial year 2018-2019, the exports of information technology (IT) and IT-related facilities have significantly increased to $1.090 billion as compared to $1.065 billion documented in the financial year 2017-2018.
According to the report of State Bank of Pakistan, moderate growth of 2.44pc has been recorded this year.
This is the third consecutive year where the IT industry has attained an all-time high export. According to the payments reported by the central bank, the value of IT export is three-time higher that means the number has crossed $3 billion in the financial year.
The computer Software sector has played the most significant role by exporting revenues of $355 million out of 3228 ICT including software consultancy services as well.
Most of the IT exports are from the US market i.e. 60pc. European countries stand at number two with a total share of 38pc, followed by the Middle East countries.
IT exports can be immensely increased in Pakistan if it emphasizes on providing the training to the youth on how they can construct groups or companies, said E-commerce Gateway Pakistan President Dr. Khursheed Nizam.
He further stated, “Pakistan has factories in shape of educated minds which can bring foreign reserves,” he said. “Our target is to take IT exports from $1 billion to $5 billion in the next three years along with increasing the share of e-commerce to 80% domestically and 20% cross-border.”
If government play, its role to support IT industry non-technological exports that are near $23 billion could reach to $50 billion, said Dr. Khursheed Nizam.
1016 out of 4068 companies are IT companies of Pakistan Software Export Board (PSEB) and Pakistan Software Houses Association for IT and ITES (P@SHA).