Report by Engineering Post
The development of Pakistan’s Information Technology and Telecommunication sector can well be gauged from the fact that as many as 20,000 plus Information Technology and IT Services companies were registered with the Securities and Exchange Commission of Pakistan (SECP) till sometime back comprising domestic and export-oriented enterprises.
Avoiding frequently changing ICT export remittance and ICT services export remittances and the contributions which Pakistan-based freelancers were contributing their foreign exchange earnings to the national economy through their remittances, it may be mentioned here Pakistan’s ICT industry was exporting to as many as 170 countries and territories around the globe.
The top 15 export destinations for Pakistan’s ICT industry were the USA, United Kingdom (UK), United Arab Emirates (UAE), Ireland, Singapore, Canada, China, Saudi Arabia, Germany, Norway, Sweden, Australia, Switzerland, Japan and Malaysia.
Pakistan Software Export Board was undertaking activities for enhancing ICT Industry exports which pertained to marketing, infrastructure development, human resource and skill development, capacity of IT and ITeS companies through International Certifications and Providing IT Industry access to Equity Capital.
Meanwhile, Pakistan Startup Fund (PSF) was an initiative undertaken by the federal government for supporting and promoting the growth of startups in Pakistan by encouraging investments in the country through top-notch global and local venture capital (VC) funds VC firms often faced high risks in nascent startup ecosystems.
