Pakistan Telecom sector is booming with high intensity. A total of 235,613 million in revenue was generated by telecom industry in 2007, a figure which strongly reflected on the country’s economy: pushing the national GDP up 2% (out of the total 7% increase in 2006-2007).
To further increment development in the sector, Karachi’s Expo Center will host, April 22-24, the first Pakistan telecom & IT Exhi bition and Conferences (PTIT).
The first of its kind in the Asian country, the event aims at boosting a market of some 86 million consumers, out of a total population of 172 millions.
The Government of Pakistan is working on development and extension of IT sector. A few of the incentives offered in this respect include
- tax exemption till 2016,
- establishment of IT Parks with low rent,
- foreign ownership of equity invested in IT
- 100% repatriation of profit allowed to IT companies.
The State Bank of Pakistan in its statement for the year 2006-07 reports the export figures of software and IT-enabled services to be US$116 million which shows a consistent annual growth Pakistan offers various competitive advantages over other outsourcing destinations, such as high quality software development, swift and easy establishment of business, lowest cost basis and emerging and state-of-the-art telecommunication and IT infrastructure. Experts have estimated an average annual growth of 33% in the sector. This will result in the total IT export revenue crossing US$ 10 billion in the next five years.