The Ministry of Information and Technology has been promoting new IT companies in the countries and increasing its efforts to improve IT exports. Exports of IT and IT-enabled services increased by 20.75% to $ 1.11 billion. The report was published for the first 11 months (July-May) of fiscal years 2019-2020. Last time, the Pakistan Software Export Board reported revenue of $ 17 917.875 million as per the financial year 2018-2019.
The IT industry is a strong factor when it comes to the economies of the countries and has enjoyed positive growth due to secure support from the federal government, a highly-skilled entrepreneur, and a highly-skilled workforce. With all the necessary steps, the IT Ministry is taking all necessary steps to ensure the optimum growth of Pakistan’s IT industry. It maintains a closed liaison with the relevant stakeholders. The healthy industrial growth rate was achieved by the federal government and the generous incentives of various projects, which boosted the information and technology sectors’ capacities.
Incentives to the IT sector Up to June 2025, zero income tax on IT and ITES exports, three years tax exemption for PSEB registered IT startups, 100% owned by ITES and IT companies, ITES and IT investors can claim up to 100% return on repatriation No tax and so much more. Shoaib Ahmed Siddiqui, Secretary, IT, said PSEB has a highly trained and experienced workforce, like commercial consultants living in key cities around the world.
These assets contribute significantly to Pakistan’s IT announcement across the globe. He urged PSEB to engage and utilize the services of Pakistan Trade Advisors to increase Pakistan’s IT and ITES exports and facilitate Pakistan’s IT companies in overseas markets.