Software exports edge up

KARACHI: The country’s software exports grew by 2.4 per cent to $1.09 billion during 2018-19, from $1.06bn in the last fiscal year, data released by the State Bank of Pakistan showed.

With more than 5,000 IT companies providing services to entities in around 100 countries, Pakistan information communication technology (ICT) sector is undergoing a boom as more than 10,000 application developers, freelancers enter into the workforce each year.

The export sector remains focused on animation, software development, gaming, systems integration, billing and telemarketing services. “Pakistan’s total ICT revenues have reached $4.1bn,” a Pakistan Software Export Board official said while speaking to Dawn.

The PSEB official further said that the size of the country’s total software sector is likely to grow further by more than 3pc during the next five years.

The country’s ICT exports have tripled over the last decade growing from $466 million in 2009 to $1.09bn in 2018 as more and more Pakistanis get access to high-speed cellular and broadband internet.

Pakistan Software House Association (P@sha) claimed the country’s information technology sector in the last fiscal year grew to $2.6bn in the last fiscal year with $1.4 in exports and $1.2bn in domestic sales while adding that the sector currently employs more than 300,000 individuals across the country.

Pakistan, with more than 30 per cent population between the 15-20 year age brackets, is touted as one of the financially attractive destinations for outsourcing services.