Pakistan's IT exports hit $72m

Islamabad, Aug 5 (IANS) Pakistan's information technology (IT) industry has registered exports worth $72 million in the financial year 2005-06, a record 56 percent annual increase over exports of $46 million in 2004-05.

Much of it is thanks to government's promotion, concessions and huge tax holidays.

Pakistan Software Export Board (PSEB) managing director Yusuf Hussain appreciated the efforts of the ministry of IT and telecom.

He also congratulated the growing industry on this achievement, giving due credit to all the stakeholders for the success and promised them continued support from the government through the PSEB, The News said.

The maximum contribution to these earnings had come from computer software export, accounting for 63 percent of the total exports, with an overall increase of 44 percent compared to computer software exports last year, it added.

"According to statistics released by the State Bank of Pakistan, the country's central bank, on July 24 to PSEB, there is an overall 56 percent annual increase in IT exports by Pakistani IT companies," it said quoting a PSEB statement issued in Karachi.

"The government of Pakistan has been proactively developing the IT sector for the last few years," it said.

"The top five companies that have contributed the maximum share to IT exports are Netsol Technologies, Ovex Technologies, TRG Private Ltd, Systems Private Ltd and Elixir Technologies," said the PSEB statement.

"The incentives include tax exemption till 2016, establishment of IT parks with low rent, foreign ownership of equity invested in IT and 100 per cent repatriation of profit allowed to IT companies."

Major spending had taken place in hardware consultancy services, software consultancy services, maintenance or repair of computers, export of computer software and other computer services.

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