IT Exports to Raise $10 Billion by 2025: Pakistan Software Export Board

Pakistan Software Export Board has recently projected Country’s Information Technology exports to boost from $2.8 Billion to $5 Billion by 2020 and to $10 Billion by 2025.

Managing Director PSEB Asim Shahryar Hussain briefed the National Assembly Standing Committee stating that IT Exports had mounted up a whopping $2.84 Billion by 2017 and would mount further to $5 Billion by 2020. The Exports through Freelancers were said to be $200 Million for the year while IT export were projected at $661 Million for the year 2017.

The Committee Member astonished, questioned the way such target was to be achieved but Official had no answers. What fascinated even more was that the projected export was far away from the trends. During the last 20 years it had just accounted $2.8 Billion and here was Pakistan Software Export Board Managing Director claiming it to double up in the next 4 years!

The Committee headed by Captain Muhammad Safdar commenced on Tuesday. The committee expressed exasperation over the IT export being less than par. The officials confirmed that Pakistan was far behind in the IT exports from the neighboring countries, excusing Pakistan’s negative Reputation as the cause of it.

Lack of capacity building, Ignorance of commercial councilors at abroad, Lack of quality Software and Standard Certification system were declared to be some other causes.

The official further declared Pakistan’s IT exports to be $2.8 billion against State Bank’s figures of $561 Million citing unregulated sector and the lack of heed paid by the companies to get registered with Pakistan Software Export Board as the reasons. The officials also said the Executive Committee of National Economic Council (ECNEC) had approved the country’s first state-of-the-art Information Technology (IT) Park in Islamabad.

The committee also directed the Ministry of Information Technology and Telecommunication to acquire performance report of the commercial counselors employed in Pakistani embassies abroad for the last two years pertaining to IT sector. The committee also decided to raise the issue with commerce minister and suggested IT training for officers before their postings abroad.

Korean Exim Bank recently agreed to finance the development of first technology Park in Pakistan in order to promote IT and telecom sector labeled at $50 Million. The Loan Agreement is predicted to be signed by the end of January 2017 and consequently the development of IT Parks would start soon. IT parks are to be developed in Lahore, Karachi and probably Faisalabad and Sialkot too.

The committee noted that Pakistan had immense IT talent and potential, but that potential had not been utilized fully on a global scale because of lack of proper infrastructure for the IT industry at present.

The committee was further informed that Axact Company was registered with the Pakistan Software Export Board; however, after the case, its membership was suspended. Officials quoted that company remittances were $24 million. On which the committee member said it meant a lot of money was parked outside the country.

According to the stats that were provided to the committee said that the growth in  PSEB- registered IT companies and call centers was 81.8%. With an increase from 681 in 2013 to 1,238 in 2016 and projected to reach 1,330 in 2017 in last three years.

What is to be noted is whether the ‘Root-Less” Plans would lead to something or would end up as unsung, unfeasible Proposals? What do you think? Leave your reply in comments section.

News Source: Brecorder.com