Pakistan’s IT exports have reached very high for the outgoing financial year of 2016-2017 generating receipts of nearly $1 billion. These receipts have been received through the banking channel only. Pakistan IT Exports Break Record Earnings to Nearly $1 Bn: PSB.
Pakistan IT Exports Break Record Earnings to Nearly $1 Bn: PSB
According to the report generated by the Pakistan Bureau of Statistics (PBS), the computer services exports of Pakistan increased by 32.11 percent during the first two months of the current year when compared to the corresponding time period of year 2016.
As per the statistics provided by the report by PBS, Pakistan has earned $111.380 million from the exports of computer services during July-August (2017-18) against the services of $84.310 million.
Among the computer services, Pakistan has also earned $54.365 million by exporting software consultancy services during the first two months of this year, showing a growth of 69.22 percent.
The exports of IT or ICT services, when seen closely, are largely delivered to countries and regions which include the USA, Middle East and South African countries.
This report clearly shows that the software industry of Pakistan is on the boom. And many more opportunities have been generated due to the demand of software consultancy in the market. This clearly is a good news for the country since it may generate more revenue and jobs with the increasing skills of Pakistani software engineers and entrepreneurs.
Hopefully, Pakistan companies having offshore offices and those which park their revenues and investments in different countries will reap the benefits of incentives and business opportunities in Pakistan at times the foreign companies are looking for making their investments in Pakistan with the development of China Pakistan Economic Corridor (CPEC).