IT sector ignored in the federal budget: Chairman P@SHA
The federal government has presented this year’s budget in the National Assembly two days ago, in which the Information Technology (IT) sector has been ignored.
Pakistan Software Houses Association (P@SHA) Chairman, Shahzad Shahid, says that IT sector has been neglected in the federal budget. He said that 9% budget has been set for IT and Telecommunication sector in Pakistan, which is very low.
Globally, jobs in this sector did not decrease during the coronavirus pandemic, and the world is moving towards it while the IT budget in Pakistan is kept very low.
IT is the only sector in Pakistan that is still growing even in the current situation. According to a report, during the first seven months of the last financial year, Pakistan’s telecommunications, computer and information services imports increased by 18.5% to US $517 million. The major chunk of this came from the software consultancy services, where exports increased by 12% to US $159 million.
Referring to the data for the first seven months, Chairman P@SHA said that the information technology sector has developed impressively. The growth in IT exports during the first seven months of the current financial year is 24.71% which is higher than all other imports.
Around 5,000 IT companies in Pakistan are providing various services to more than 100 countries of the world. Every year, more than 10,000 new application developers and freelancers are entering the workforce in the field of Pakistan Information and Communication Technology. Pakistan’s IT sector has the potential to take its imports to around US $10 billion and create millions of jobs over the next five years.
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