Economic uplift
\n ISLAMABAD
\nMuhammad Zohaib Khan, Chairman of Pakistan Software Houses Association (P@SHA), has apprised that the stagnation in IT exports – and a possible contraction on the cards – has created profound concerns & apprehensions in the IT industry as IT & ITeS industry\u2019s export remittances shrunk by 0.5 percent to $1.94 billion in Q1 – Q3 FY23 as opposed to 47 percent average growth IT & ITeS posted for 2 consecutive years, i.e. FY21 and FY22.
\nMuhammad Zohaib Khan, however, added that the Pakistani IT industry has forged partnerships with the 16 economies ICT alliance of Asia-Pacific Information & Communication Technologies Alliance (APICTA) for the tangible promotion of IT & IT-enabled Services (ITeS) exports.
\nHe was speaking on the occasion of 79th Executive Committee meeting of APICTA at Perth, Australia; where he led the Pakistani delegation which also comprised Jamil Goheer & Dr. Shoab Khan, CEC members of P@SHA.
\nIt is pertinent to note that the combined GDP of APICTA countries runs in upwards of $30 trillion and these countries are potentially huge IT export markets for Pakistan in Asia-Pacific region & other allied countries; like China, Malaysia, Indonesia, Australia, Japan, etc.
\n\u201cOne can well-imagine, if a region & its IT-alliance has a combined GDP of $30 trillion, what it can mean to a developing country like Pakistan with a population of 230.1 million and 64 percent under the age of 35\u201d Muhammad Zohaib Khan, Chairman P@SHA.
\nMr. Khan pointed out that FBR, SBP, SECP, TDAP and PSEB should work in tandem and P@SHA is all willing to assist them in aligning foreign exchange, taxation, companies\u2019 regulations, export and investments policies with international best practices.
\nThis year Pakistani IT exports are expected to be in the range of $2.5 – $2.6 billion; which can easily be jacked up to the psychological mark of $5 billion in a quick succession of 2 years – provided policies of the government institutions turn business-friendly and focus on ease of doing business (EODB) parameters – on which Pakistan ranks abysmally low at 108th number, he added. \u2014 DNA<\/p>\n","protected":false},"excerpt":{"rendered":"
Economic uplift ISLAMABAD Muhammad Zohaib Khan, Chairman of Pakistan Software Houses Association (P@SHA), has apprised that the stagnation in IT exports – and a possible contraction on the cards – has created profound concerns & apprehensions in the IT industry as IT & ITeS industry\u2019s export remittances shrunk by 0.5 percent to $1.94 billion in […]<\/p>\n","protected":false},"author":2,"featured_media":329027,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-329017","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n