Pakistan’s IT sector made a revenue of $4.1 billion in FY18-19

The industry’s remittances also surged by 9.9% in the year 2018-19.

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  • Pakistan’s IT sector has made a revenue of $4.1 billion in FY18-19.

  • MD PSEB also stated that the IT sector has expanded and grown this year.

  • IT industry’s remittances have surged by 9.9% in the year 2018-19.

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In a briefing session, the Managing Director (MD), Pakistan Software Export Board PSEB, informed the Federal Secretary Ministry of Information Technology and Telecommunication (IT&T) Shoaib Ahmad Siddiqui, that during the fiscal year 2018-19, Pakistan’s IT sector has made a revenue of $4.1 billion.

During the session, MD PSEB also stated that the IT sector has expanded and grown this year, and the industry’s remittances have surged by 9.9% in the year 2018-19. He also added that about 5,000 Pakistani IT firms are serving IT products and services to organizations in 100 countries. The IT sector has backed significant foreign exchange to Pakistan’s economy through these services and growth.

On Wednesday, the Federal Minister for IT&T, Dr. Khalid Maqbool Siddiqui engaged Shoaib Ahmad in reviewing the performance of PSEB, to bring advancements in software exports and also to accelerate the completion of IT Parks in Pakistan. During the briefing session, Mr. Ahmad highlighted the need to emphasize on international marketing efforts by increasing the participating of Pakistan’s IT companies in events that are international.

Further on in the session, it was informed that the bandwidth price has been reduced by 35% for software companies during the fiscal year. This was done to lower the costs of operation for IT companies, simultaneously to support the government’s aim of Ease of Doing Business.

Furthermore, the authorities have also refurbished the PSEB’s website and also included the option of online registration for companies and online directory of IT companies in Pakistan has also been made available.

Secretary IT Shoaib Ahmad Siddiqui admired the country’s achievements and advancements in IT industry and also, emphasized largely on the need to facilitate the growth of software exports in developed markets, aiding software firms in exploring new markets, fasten the completing of IT Parks in Karachi and Islamabad. He also stressed on providing an environment that was efficient to the private sector, to promote Ease of Doing Business.

In addition to this, with the goal to boost the IT and telecommunication infrastructure throughout Pakistan, Dr. Khalid Maqbool Siddiqui has permitted numerous contracts that come under the Universal Service Fund (USF). The USF previously accepted and allocated Rs.1.89 billion, in which many projects will be started or completed in country’s areas which are remote.

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