IT and ITes export remittances have rushed to 23.42% within the first 10 months of financial year 2019-20
IT and ITes export remittances have rushed to 23.42% within the first 10 months of financial year 2019-20. The export remittances consisting of call center services and computer services have swollen to US $1.003 billion in comparison to US $812.648 surprisingly during the same period of time in FY 2018-19.
IT industry has been a remarkable element in the growth of Pakistan’s economy and has also acquired optimistic year on year growth with the help of government support, pro entrepreneurs and innovative workforce as witnessed by the performance report of Pakistan Software Export Board (PSEB)- an organization under the Ministry of IT and Telecommunication.
Pakistan IT companies are magnificently keeping up a good reputation in the international market. Over 6,000 Pakistan IT companies are exporting IT equipment and services to organizations and institutions in over 100 countries on the globe.
There are several projects provided to Pakistan IT companies aiming to facilitate and help IT industry in its growth in the international market and to do good in export earnings as well.
Pakistan was ranked as the 3rd most popular country for freelancing on the globe. Moreover, Pakistan IT companies are supplying their products and services to the most eminent companies of the world.
Pakistan’s Information and Communications Technology (ICT) has been a terrific success for Pakistan with having achieved a stellar remittance inflow growth rate and being the biggest net exporter in the sector of services.
Mercifully, on the command of Federal Minister for IT and Telecommunication Pakistan a good number of positive steps are being taken in order to enhance exports as well as to ensure ceaseless growth in Pakistan’s IT industry these include tax breaks, capability, strong incentives and capacity improvement.
In the light of the current prevailing pandemic COVID-19, the Secretary IT directed to ensure strong and close coordination with the IT industry to reduce the drawbacks of the pandemic on the IT industry.
Also to take all necessary steps so as to achieve maximum facilitation and assistance to the IT industry during the present extremely challenging time.