Pakistan’s Information Technology Industry

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Pakistan’s Information Technology Industry is a Striking Investment Destination

The Digital progression and augmentation in Pakistan are standard through prompt advancement. Pakistan’s Information Technology Industry. And Sector is one of the profligate mounting segments of. Pakistan subsidizing approximately 1% of the GDP of Pakistan at around 3.5 billion USD. The augmentation has been doubled over the past four years. And there are projections of additional development in the upcoming years to $7 billion.

Pakistan Software Export Board (PSEB) and the Ministry of Information Technology. And Telecommunications (MOIT&T) have unconstrained an all-inclusive analysis on the Information Technology industry of Pakistan

The Spokesperson of Prime Minister Imran Khan for Trade. And Investment for the United Kingdom (UK) Europe Sahibzada Amir Jahangir has voiced over the prominence of Information Technology. while speaking at an enormous congregation of Pakistani business community. And Chief Executive Officers (CEOs) at Pakistan High Commission (PHC) London.

He said,

“Owing to prudent and bold economic policies and structural reforms initiated by the incumbent government, Pakistan has become an important investment destination for investors including foreigners. The government under the dynamic leadership of Prime Minister Imran Khan took harsh but bold decisions to strengthen the national economy. The current account deficit has come down with all other economic indicators also improving while more good news will be coming from Pakistan. Moody’s investor services have upgraded Pakistan’s outlook from negative to stable and reaffirmed the country’s rating of B3.”

Furthermore,

“The overseas Pakistanis and investors comprising the United Kingdom (UK) and Europe should explore the investment potentials and opportunities in various sectors of the economy including Tourism, Oil and Gas, Infrastructure development, Information Technology sector in Pakistan with a promising future. Foreign investors would be fully facilitated and provided every possible information, support, and assistance regarding investments to investors in the country.”

There are premeditated and expedient expenses in Pakistan’s Information Technology Industry. And has continued profits progress of 20 percent to 30 percent annually over the past decade.

In the global healthcare Covid-19 pandemic notwithstanding the trade. And industry slump the monetary cessations, the Information and Communication Technology (ICT) sector in Pakistan has sustained to propagate.

World Economic Forum

The World Economic Forum (WEF) has categorized Pakistan amid the preeminent countries in standings of the affordability of ICT services.

Furthermore, Pakistan is ranked 5th best economically striking position in the world for offshore facilities.

Numerous international corporations have now time-honored international consulting services centers. Research and development facilities sustenance services centers in Pakistan.

According to data and statistics,

“  Information Technology-enabled services surged to $1.119 billion from July 2020 to January 2021 compared to $812 million recorded. in the corresponding period of the last financial year. showing a handsome growth of 37 percent year-on-year.”

Pakistan has 300+ international companies functioning is the 5th most economically attractive country. Pakistan is 3rd most prevalent country for freelancing.

There are 16 software technology parks across the country. Pakistan’s Information Technology Industry and Information Technology Enabled Services. (ITeS) are being exported to 120+ destinations internationally.

The administration and management of Pakistan have likewise conveyed numerous striking incentives. To supplementary upsurge the local and foreign investment towards the IT industry in the country.

Sources

https://invest.gov.pk/sites/default/files/inline-files/IT.pdf

 

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