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National IT Policy 2016 Predicts IT Exports Worth $6 Billion By 2020

Released at the dusk of 2016, Ministry of Information Technology and Telecom’s (MOITT) National IT Policy Draft 2016 predicts that the software and telecom exports are likely to grow to a whopping $6 billion by 2020.

MOITT has published the draft for the National IT Policy 2016 online for general feedback and opinions after the completion of its consultation process. For its approval, the draft would be submitted to the Economic Coordination Committee (ECC) next month.

As per the analysts, IT sector’s earning had been estimated to be $2 billion in FY 2015-16. However, the IT sector in reality earned only $560 million in FY 2015-16. The annual revenues from freelancing were up to $100 million while domestic market revenues were estimated $300 million. With total imports of Rs. 73.224 billion, mobile companies dominated the market for the FY 2014-15.

According to the rankings of world’s most reputed freelance market, Pakistan tops up as the 4th largest foundation of IT professional freelancers. To attain viable growth in Pakistan IT industry, MOITT has established Pakistan Software Export Board (PSEB). Over the past few years, Pakistan’s IT export has grown 11 times with 2000 software houses and 14 software technology parks.

Sectorial digitization, IT sector sustainability, entrepreneurship and innovation, infrastructure development, cloud computing, cyber security and ICT education are the key essentials of IT policy. The vision statement of IT policy is:

“To become a strategic enabler, by making the full use of ICT, for an accelerated digitization ecosystem, aiming to expand knowledge-based economy and drive socio-economic growth”

Goals & Objectives of National IT Policy 2016

  1. Increasing the IT exports two fold by 2020.
  2. To establish one software technology park, each in every major cities of Pakistan by 2020.
  3. To increase the 2015 value of e-commerce by three times by 2020.

The IT policy exhibits keen interest in the development departments. These areas include legislative framework, human resource development, e-Governance, e-Agriculture, e-Education, e-Energy and e-Commerce and innovative infrastructure development. It also aims on moving up in global IT chain by focusing on the emerging software trends like mobile apps. Moreover, it will also encourage and provide opportunities to domestic and international businesses to invest in the IT industry.

Being one of the most vibrant and vital sector, IT sector involves sensitive action plan. To formulate a perfect ‘action plan’ and implement it across the country, all necessary procedures will be taken.

 

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