IT Remittances Witnesses Growth of 16.4 % in IT & ITeS Export: PSEB

PSEB has released the comparison of IT remittances during July-April of last year with the current year. Pakistan Software Export Board announced that a growth of 16.4% in IT and ITeS export remittances. IT Remittances Witnesses Growth of 16.4 % in IT & ITeS Export: PSEB.

Category FY2016
A –   Computer Services $400.510 $465.820 16.31%
     Export of Software $242.576 $213.597 -11.95%
     Software Consultancy Services $103.112 $184.873 79.29%
     Other Computer Services $44.503 $63.487 42.66%
     Hardware Consultancy Services $1.989 $3.223 62.04%
     Maintenance & Repair of Computers $0.595 $0.638 7.23%
B –   Call Centers $52.238 $67.090 28.43%
A+B  –   Total IT & ITeS Export      Remittances $457.811 $532.910 16.40%

IT Remittances Witnesses Growth of 16.4 % in IT & ITeS Export: PSEB

PSEB has planned to host ‘PSEB IT Awards 2017’ by end of 3rd quarter this year. Registration for the award ceremony will be due in the month of July 2017.

PSEB has also announced the categories for this fiscal year i.e; from July 2016- June 2017. They are as follows:

  • Top 10 IT exporters
  • Best 3 startups
  • Top 3 IT exhibitors
  • Best 3 individual freelancers
  • Top 3 domestic IT businesses

PSEB said that IT companies can improve their chances of winning the exports award before June 2017, by improving their remittances in SBP assigned purpose codes for IT and ITeS sector.

Also Read: PSEB Starts Accepting Applications for PM’s ICT Internship Program

PSEB revealed that many companies are not going to their respective banks to register their export remittances in IT & ITeS sector codes to the state bank of Pakistan. It also told that 1.5 billion is remitted to Pakistan through banking annually. But half of the codes are incorrect. It hurts the image of IT industry  as a major exports sector in Pakistan.

Many international customers and investors rely in SBp’s data for investment and outsourcing. IT industry needs to cross the billion-dollar mark in remittances first before Pakistan’s IT sector will be taken seriously by foreign IT investors and customers.

Also Read: PSEB Invites Applications to Participate in Trilateral Trade & Investment Conference

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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.
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