Pakistan to increase IT exports to $6bn by 2023: Report

June 25, 2021

355

According to a report by Bloomberg, Pakistan aims to double the size of its IT industry in two years by creating dedicated technology zones across the country and capitalizing on the technology boom that has helped countries like India and the Philippines become Tech Hub for most of the outsourced IT tasks.

Pakistan is offering a 10-year corporate tax exemption and duty exemptions on imports of all equipment or building materials needed by the Tech Companies, giving the Pakistani IT industry “support” that could double the IT exports to $ 6 billion in two years, says head of government’s IT Task Force Amer Hashmi, who believed in his mission to revolutionize the information technology industry.

Pakistan counts on new technological areas to create jobs for its youth- almost two thirds of the population under 30. After India and Bangladesh, it ranks third Pakistan is the third highest country with Freelancers.

Amer Hashmi said about half a dozen international companies and 50 local companies had shown interest in the proposed areas, adding that the projects would receive up to $ 1.5 billion in private investment over the next two years.