ISLAMABAD (APP): Due to Government Incentives to IT and Information Technology Enabled Services (ITeS) industry Pakistan’s IT exports have grown to an estimated $2.9 billion which includes Pakistani freelancers estimated to be earning more than $300 million annually.
While talking to APP Managing Director Pakistan Software Export Board (PSEB) Iftekhar Shah said, Government Incentives to the IT & ITeS industry include income tax exemption on IT exports till June 2019, 100% foreign ownership, 100% repatriation of capital and dividends, 3-year tax exemption for IT startups, and tax holiday for venture capital funds till June 2024.
He said, Pakistani domestic market for IT & IT Products and services is also strong, estimated at over $ 500 million in annual revenue, and growing rapidly.
Total annual revenue of Pakistan’s IT Industry is nearing $3.5 billion. Pakistan’s IT industry has demonstrated positive growth trends for the last four ten with 100% growth in export earnings, he added.
He told APP that, Several long term projects are in the pipeline for the benefit of the IT industry which aim to focus on infrastructure development, fostering innovation/entrepreneurship, adoption of ICT in public sector as well as domestic demand generation for the ICT products/services.
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