Pakistan’s First IT Export Strategy ($15 billion annually) Unveils Ambitious Growth Potential

The Pakistan Software Export Board (PSEB), in collaboration with PricewaterhouseCoopers and international partners, has released the country’s inaugural IT export strategy report, outlining a vision for Pakistan to escalate its IT/ITeS export revenues to $15 billion annually within the next 5 to 6 years.

The comprehensive report provides an overview of Pakistan’s current IT landscape, citing a workforce of 316,000 in the IT sector, 1 million freelancers, 226,000 IT discipline enrollments in higher education, and 12,000 IT businesses. To achieve the ambitious export target, the report suggests a strategic focus on five priority IT market segments and 12 subsegments characterized by high global market growth.

Presently, Pakistan’s IT exports are directed towards the USA, UAE, UK, Singapore, Canada, and Norway. The report underscores the significance of these existing partnerships while charting a course for expanded international collaboration.

Emphasizing the need for favorable macro-conditions, the report recommends interventions such as credit availability, free mobility of foreign currency, tax incentives, and enhancements in legal and regulatory frameworks. These measures aim to create an environment conducive to sustained growth in the IT export sector.

Strategic inputs outlined in the report include skills development for one million individuals, infrastructure upgrades, and comprehensive support for the IT/ITeS industry. The report positions the IT sector as a rapidly growing export segment in Pakistan, ranking first among 12 service sectors in 2021/22. Notably, Software Development and IT Services constitute 75 percent of total industry revenues.

The release of this pioneering report marks a significant milestone in shaping the future of Pakistan’s IT export landscape. As the nation seeks to carve a niche as a global IT hub, the report provides a roadmap for stakeholders, policymakers, and industry players to collectively contribute to the realization of this ambitious vision.

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