ISLAMABAD
\nMuhammad Zohaib Khan, Chairman Pakistan Software Houses Association (P@SHA), has apprised that gaming industry is on the rise in Pakistan with a focus on mobile gaming \u2013 and, mobile games alone have generated US$171.30 million in the year 2022.
\nAs per the latest statistics, US$21.34 million were generated by online games and US$16.13 million through download games as well. P@SHA Chief predicted that the revenue in the video games segment is projected to cross US$200 million in 2023; with an annual growth rate of 9.77% from 2023 \u2013 2027.
\nHowever, this is not enough, given the true potential & expandable HR pool of Pakistan\u2019s gaming industry, he added. Currently, Pakistan employs around 8,500 game developers in three major sub-sectors; namely, gaming products, middleware and gaming services.
\n He stressed that we can easily add 3000 gaming developers to the HR pool every year; and, in that fashion, Pakistan can comfortably attain a 30 percent year on year (YoY) growth in gaming industry\u2019s foreign remittances \u2013 provided we can invest into HR & skills development for the aspiring game developers.
\nMuhammad Zohaib Khan referred to Statista Market Forecast & International Trade Center (ITC) and informed that Pakistan has the potential to become next regional hub in game development as its 64 percent population is young; and, through targeted skills development, Pakistan can surpass its yearly projections.
\nNonetheless, Mr. Khan reiterated his stance that the federal government, SBP & FBR need to adapt their practices & regulations to international best practices vis-\u00e0-vis foreign exchange management and allow IT & ITeS industry to freely manage their hard-earned foreign exchange to fund their businesses; reinvest into their entities; invest into marketing, sales & networking and, at the same time, contribute in strengthening Pakistan\u2019s foreign exchange reserves (FER).
\nMuhammad Zohaib Khan elaborated that ease of doing business for IT & ITeS industry can only be ensured if they are allowed to freely manage their finances and remittances through banking channels; as IT professionals are a pool of dynamic entrepreneurs, young professionals in various verticals and aligned with international best practices.
\nHowever, this has to be a win-win situation for the government institutions and the gaming industry alike and the IT industry as a whole, from the apex platform of P@SHA, is ever-willing to have a constructive & egalitarian consultative process with SBP & FBR to resolve their outstanding issues, Muhammad Zohaib Khan added.
\nIt is pertinent to note that P@SHA and its member firms supported & participated in Game Developers Conference 2023 held in California with the support of Trade Development Authority of Pakistan (TDAP), Ministry of IT & Telecom (MoITT), USAID and Pakistani Consulate in Los Angeles; and, Pakistan Pavilion attracted who\u2019s who of the global gaming fraternity due to the excellent presentation of the game development potential we have in Pakistan and it is our aim to make Pakistan a serious contender in the US$315 billion global gaming industry, Zohaib Khan added. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Muhammad Zohaib Khan, Chairman Pakistan Software Houses Association (P@SHA), has apprised that gaming industry is on the rise in Pakistan with a focus on mobile gaming \u2013 and, mobile games alone have generated US$171.30 million in the year 2022. As per the latest statistics, US$21.34 million were generated by online games and US$16.13 million […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-325160","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n