Type to search

Business & Economy Econology Governane News

Pakistan’s IT Exports Rise By 19 Percent

  • 4
    Shares

In first seven months of current fiscal year, Pakistan’s telecommunication, computer and information services exports have been increased by 18.5 per cent.

The major chunk of that came under the software consultancy services as exports of the segment rose around 12pc to around $159m during the period under review.

Citing provisional figures for the first half of current fiscal year, [email protected] Chairman Shahzad Shahid said, “IT and ITeS (information technology enabled services) is a sector which has continued to show impressive growth in exports year on year.” He added that growth in the first half of the current fiscal year is 24.71pc which is almost eight times higher than the country’s overall exports during the same time.

Following closely behind software consultancy, exports of computer software also rose 8.17pc to $129m, from $119m during the same period last fiscal year.

“We believe that IT sector can become a $10bn industry and it can create over a million new jobs within 5 years if the government makes growth-focused policies timely,” says Shahid.

With more than 5,000 IT companies providing services in around 100 countries, Pakistan’s information communication technology (ICT) sector is undergoing a boom as more than 10,000 application developers, freelancers enter into the workforce each year.

Pakistan’s overall services exports during the first five months rose 3pc to $2.165bn during the period under review.

Tags:

Leave a Comment

Your email address will not be published. Required fields are marked *

Comment moderation is enabled. Your comment may take some time to appear.