Booming Pakistan's IT Industry $4.1 Bn Revenue Share in Economy
The participation of Pakistan’s IT sector in GNP has considerably increased with the boom of small and large software houses throughout the country since last decade. Now you can find easily 2-3 best software houses in every city providing best IT products and services at reasonable prices. To check the performance of Pakistan Software Export Board (PSEB) towards the development of IT sector, the federal Minister Dr. Khalid Maqbool Siddiqui of Ministry of Information Technology and Telecommunication (IT & T) has directed Shoaib Ahmad Siddiqui, the Federal Secretary of Ministry of IT &T on Wednesday to get reports from MD of PSEB on software industry performance. The agenda of meeting between Federal Minister and Secretary of State was to focus on the improvement of IT exports and speedy development of IT parks.
The Managing Director of Pakistan Software Export Board PSEB has recently briefed Shoaib Ahmad Siddiqui, the Federal Secretary Ministry of Information Technology and Telecommunication in a recent briefing that Pakistan’s IT industry has earned $4.1 billion revenue during the national fiscal year 2018-19.
During the briefing he has also identified that Pakistani centric 5000 firms are providing their products and services in 100 countries. Their contribution has added value to the IT sector through substantial increase in industry’s remittances by 9.9% in just 2018-19. Thus, resulting in significant increase in foreign exchange injection in GNP.
Furthermore, the Federal Secretary of MIT& T is informed that 35% of bandwidth tariff is reduced to reduce the operational cost of IT companies during this and the previous fiscal year under the government vision of Ease for doing business in Pakistan policy.
The Federal Secretary Shoaib Ahmad Siddiqui has praised the efforts and achievements of IT industry. He has encouraged the IT industry to further its growth through international marketing of its national IT products and services in developed countries IT markets, which can be done by escalating Pakistan’s IT companies participation in international events.
Dr. Khalid Maqbool Siddiqui the Federal Minister of Ministry of IT & T has approved various funds that came under USF (Universal Service Fund) for development of remote areas IT sector. Moreover, he has introduced the online registration facility for the registration of IT companies PSEB’s website to promote the ease for doing IT business.
Hence, with the reduction of just 35% bandwidth tariff in 2018-19 for software companies has resulted in $4.1 bn revenue, what if USF release its fund for remote areas. Definitely, Pakistan’s IT industry will boom unimaginably.