Pakistan’s IT industry exports hit an all-time high
Pakistan’s IT exports have hit an all-time high in the outgoing financial year of 2016-2017.
The country is witnessing a growth boom in the IT industry like never before and the government is also taking steps to support the IT infrastructure. And the numbers prove that the positive activity in the IT industry is delivering good results. According to ProPakistani, figures provided by the State Bank of Pakistan(SBP) indicate that the IT industry’s exports – which includes telecom, and computer and information services – in the outgoing financial year were of $938.640 million. The exports made in the previous financial year of 2015-2016 were worth $788.640 million. This indicates a year-on-year growth of 19%.
The Pakistan Software Exchange Board(PSEB), on the other hand, has reported figures that are three times greater than those reported by the SBP. According to the PSEB, the IT exports stand at a whopping $2.8 billion. There is a huge disparity in the numbers that have been reported by the SBP and the PSEB. However, it should be noted here that the SBP and the PSEB calculate the final figure of IT exports in a different manner. The PSEB reports in different sectors such as financial services, healthcare sector, e-commerce, e-health, but to estimate the final figure of total exports it takes into consideration all the exports done by local software houses to international clients.
If Pakistan’s IT industry keeps thriving at this rate, it certainly rings good news for the country’s economy. Could Pakistan hit the target of $6 billion software exports by 2020 or the target of $10 billion IT exports by 2025? We’ll have to wait and see. But the present certainly does look good.
News Source – ProPakistani