Tag: IT services

  • Pakistan’s IT exports surge to $1.2 billion in FY2019-20

    Pakistan’s Information Technology (IT) and IT-enabled Services (ITeS) export remittances have surged by 23.71% ($1.230 billion) in financial year (FY) 2019-2020.

    The numbers were revealed in a performance report released by the Pakistan Software Export Board (PSEB) on Friday.

    According to FY2018-2019, the remittances were $994.848 million and they have now increased to $1.230 billion in FY2019-2020

    Mr Syed Aminul Haq, Federal Minister for IT & Telecommunications (MOIT), said that they have targeted and is working towards increasing these export numbers up to $5 billion in the next three years.

    He further said that under the vision of Digital Pakistan, we should promote and support all IT-related projects and connect Pakistan to the digital world.

    The ministry’s spokesperson also mentioned that 6,000 Pakistan-based IT companies were providing IT products and services to people in over 100 countries.

    Pakistani IT companies have been providing products and services to some of the world’s largest companies. The country has been ranked as the third most popular country for freelancing in the world.

    “The Information and Communications Technology industry of our country has seen high achievements in the past few years. Pakistan is surely heading in the right direction in terms of achieving that $5 billion revenue goal for the industry by the year 2024,” said the spokesperson.

  • Freelancers payment limit raised to Rs. $25,000: State Bank of Pakistan

    Freelancers, who provide services in information and communication technology, can now receive payments worth up to $25,000 (Rs 3.9 million) per month, which, earlier, stood at a mere $5,000 (Rs 0.7 million).

    The decision has been made by the State Bank of Pakistan (SBP) to broaden the scope of remittances in Pakistan. This will facilitate freelancers to bring a greater value of funds through more economical and efficient channels of home remittances and help in receiving foreign exchange flow through formal banking.

    Read more – Pakistan’s first manmade island to be built in Gwadar at a cost of $10 billion

    According to SBP, “this would enable freelancers to expand their services and engage new individuals to join the workforce that will inevitably create more employment opportunities in Pakistan”.

    Read more – Largest gas reserve in 20 years discovered in Balochistan

    The concept of freelancing is the emerging trend in Pakistan. Freelancing is a term used commonly for people who are self-employed. Mostly, they are not committed to a particular employer for the long term. They provide services in the local and international market.

  • Pakistan’s IT exports increase to $1bn

    Pakistan earned $1 billion through information technology (IT) services in various countries during the first eleven months of the fiscal year 2018-19, Associated Press of Pakistan (APP) has reported.

    According to reports, this year’s growth is 4.37% more as compared to $966.240 million earned through the provision of services during the fiscal year 2017-18.

    During the period under review, the computer services increased by 12.21, from $654.170 million last year to $734.020 million during July-May (2018-19).

    Among the computer services, the exports of software consultancy services and repair and maintenance of computers related services increased by 26.87% and 231.93%, respectively.

    In addition, other computer services also saw an increase of 34.77%.

    The exports of call centers services also increased by 7.95%, from $93.039 million to $100.436 million, whereas the exports of other information services increased by 53.28%, from $1.068 million to $1.637 million.