Ministry of Information Technology and Telecommunication has so far placed 7400 graduates in different IT companies to obtain practical training for their easy employability under Human Resource Base Development Programme. “This programme mainly allows the graduates to get practical knowledge of different fields of Information Technology enabling them to get maximum experience and excel in this field”, Managing Director Pakistan Software Export Board (PSEB) told APP.
The stipend paid to the graduates of this programme is covered by the government, he informed. Listing some other initiatives taken by the ministry, he said 14 Software Technology Parks are providing nearly 1 million square feet of space to IT companies with state of the art redundant facilities in numerous cities and more are in the pipeline in various phases including a 47.79-acre IT Park in Chak Shahzad, Islamabad. He said, Government has given Incentives to the IT & ITeS industry including 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. As a result of these incentives, 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.
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. To achieve these objectives, PSEB has launched several programs to bolster the local IT Industry. These include IT company capability development through international certifications such as CMMi (28 companies), 9001 (110 companies), ISO27001and ISO20000 (24 companies).—APP