Pakistan’s Information Technology (IT) industry is expanding rapidly thanks to the Special Investment Facilitation Council’s (SIFC) assistance. The previous fiscal year had $2.6 billion in IT exports, and this year’s exports are predicted to reach $3.5 billion. Within the next five years, the government wants to increase IT-based exports to $15 billion.
For the current fiscal year, the government has allotted about Rs79 billion to strengthen export capabilities in the IT sector. Of this sum, Rs. 22 billion has been set aside for the Pakistan Software Export Board, while the remaining Rs. 19 billion will be used to create IT parks in Islamabad and Karachi.In order to completely realize the potential of the digital economy, the chairman of the Pakistan IT Industry Association stressed the importance of enhancing IT infrastructure and hiring more qualified personnel. In order to develop the IT sector in accordance with contemporary industrial standards, he also emphasized the significance of improving digital infrastructure and internet access.
The IT industry has grown quickly as a result of the SIFC’s facilitation, and several businesses that are making a name for themselves internationally have emerged.
