Pakistan IT And ITES To Increase Export Rate
Pakistan IT And ITES To Increase Export Rate: Pakistan’s Information Technology (IT) and Information Technology Enabled Services (ITES) exports are expected to exceed $5 billion by the year 2020.
It is expected that Information Technology (IT) and Information Technology Enabled Services (ITES) export of Pakistan will touch the mark of $5 billion by 2020 due to the tax relief government has given to the IT sector. The launch of strategic initiatives and major tax exemption announced by Premier Shahid Khaqan earlier this month has given IT sector a massive opportunity to increase its export rate.
Capital Repatriation Incentives
The government has also launched capital repatriation incentives for the private sector that means the transfer of foreign capital or money back to the home country to increase its revenue.
5% Cash Reward on IT Export
Giving 5% cash reward on IT export is also included in the agenda to boost the IT industry of Pakistan in international markets. Pakistan’s IT sector has already crossed $3 billion export in this year and now it sets a new target.
Pakistan’s ICT sector can show remarkable growth and development in the coming years if continuous attention and opportunities are given to software development, e-governance, IT’s export, IT workforce export and smart monitoring.
It is expected that the CPEC will bring more opportunities for innovation and growth of the e-commerce and IT sector that will eventually transfer the country into a hub of trade and commerce.
Employment Opportunities
Minister of Information Technology and Communication said that bringing ICT to remote and unprivileged parts of the country will open new employment opportunities for the people.
Pakistan Tele-communication Authority (PTA)
Last week, Anusha Rehman Federal Minister for Information and Technology while visiting PTA said it is a proud moment for Pakistan as the growth rate of exports have jumped to 125% over the last 5 years.
Pakistan’s IT industry is not only growing in terms of the number of companies and revenue but also in exports and workforce on a yearly basis.
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