IT & ITES Exports Expected To Exceed US$ 5 Billion By 2020

It is expected to make Pakistan an outsourcing destination in the region by 2020, and increase IT & ITES exports to exceed US$ 5 billion due to launching of strategic initiatives along with tax holiday and capital repatriation incentives for private sector

ISLAMABAD, (UrduPoint / Pakistan Point News - 21st May, 2018 ) :It is expected to make Pakistan an outsourcing destination in the region by 2020, and increase IT & ITES exports to exceed US$ 5 billion due to launching of strategic initiatives along with tax holiday and capital repatriation incentives for private sector.

There is a tremendous opportunity for Pakistan as its ICT sector is now t take-off stage as IT & ITES-Business Process Outsourcing (BPO) exports are estimated to have already crossed $3 billion this year.

Talking to APP, ministry official said, ICT sector can become the driver of change and growth in the next few years if continuous attention is given to software development, software and IT workforce export, in-country employment opportunities, e-governance for an effective service delivery, m-governance and smart monitoring, technology incubators and support for entrepreneurs.

This continuous focus would thus set a high growth conditions in the years to come,he added.

He said, it is expected that due to CPEC next decade will bring in more opportunities of innovation, growth and transforming the country into a regional hub of trade and commerce.

Ministry of Information Technology and Telecommunication also hoped that, Expanding ICT accessibility to remote and under-developed parts of the country will also help in achieving social inclusiveness, opening new vistas and source of employment in the country.

He said, In the last 5 years IT and telecom ministry has worked a lot to Improvement National ICT infrastructure with linkages at multiple points with the regional and international systems to make the country an important transit route for international trade and services, accelerating entrepreneurship.

Automation of government processes, fin-tech, agri-tech, edu-tech, health informatics and social innovation are some of the areas which hold a potential of high growth and transforming quality of life for the citizen, he added.