IT Industry Revenues Have Reached $4.1 Billion: PSEB

On the directions of Federal Minister for Information Technology & Telecommunication, Federal Secretary Ministry of Information Technology and Telecommunication Mr. Shoaib Ahmad Siddiqui reviewed the performance of Pakistan Software Export Board (PSEB) on Wednesday to enhance software exports and expedite the completion of IT Parks in Pakistan.

Managing Director (MD) and senior management of PSEB briefed the Secretary IT and Telecommunication about the achievements of PSEB during the financial year 2018-19. The Federal Secretary emphasized the need to focus on international marketing efforts by improving the participation of Pakistani IT companies in international events.

He also directed PSEB to prepare a comprehensive strategy to accelerate the growth of Pakistan’s IT sector and its foreign exchange earnings besides exploring opportunities in Africa and the Middle East. Secretary, IT & Telecommunication directed PSEB to forge partnerships with Trade Development Authority of Pakistan (TDAP) and Ministry of Commerce to explore untapped markets.

Highlighting the achievements of the organization, Managing Director, PSEB informed that Pakistan’s IT Industry has achieved positive year on year growth over the past decade and remittances of Pakistan’s IT industry have surged by 8.9% during FY 2018-19.

In addition, 5000 Pakistan based IT companies are providing IT products and services to entities in 100 countries. He apprised the meeting that earnings of Pakistan’s IT sector are estimated at $4.1 billion thereby contributing significant foreign exchange to Pakistan’s economy in the process.

The meeting was apprised that bandwidth tariff, for software companies, has been reduced by 35% during 2018-19 to further reduce operational costs for IT companies, in line with Government’s vision of Ease of Doing Business in Pakistan. PSEB’s website has also been revamped, including online registration of companies and availability of online directory of IT companies.

Secretary IT lauded the achievements of Pakistan’s IT sector and stressed the need to facilitate the growth of software exports in developed markets, helping software companies to explore new markets, expediting the completion of IT Parks in Islamabad and Karachi and providing an environment to the private sector which promotes Ease of Doing Business.

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