Government & Technology
Man, through the ages has undergone many changes from the time when he depicted a herd of mammoths on the walls of a cave to nowadays when he can chart with anyone across the sea by use of modern means of communication. Some people think that in today’s world government should spend more money on computers.However, others think that it is inappropriate and government should spend more money on food and shelters for poor people, medicine, education, etc. These two options are very different and controversial. But I think that developing computer technology brings people more advantages then they think it does.Read More
First of all, humankind nowadays more and more depends on computers. We often do not suspect the presence of computers around us. For example, when we withdraw money from cash machines, get some gasoline on the gas station and pay with our credit cards in the stores. So, nowadays computer technology plays an essential role in our everyday life. Second of all, computer technology brings more job opportunities. For a country computer technology means power, knowledge and constant development. In addition to those practical benefits, the development of computer technology brings a lot of money to the country.
From the other side, government should not forget about poor people, who can not afford computers but need food and shelters. However, I think that computers help people gain more knowledge and experience and find a job to provide food and home for his family. So, basically, computers give people the opportunity to reach their goals and be innovative.
To sum up, I think that computer technology gives people many benefits including the opportunity to improve one’s knowledge and be more self-confident, persistent and experienced in this world.
Pakistan’s IT Exports at its Peak
Pakistan exports hit a record high for the year-end 2016-17 with nearly $ 1 billion in receipts received through the banking channel.
According to Pakistan’s State Bank statistics, the export of IT industry classified as telecommunication, information and information services reached a level of $ 938,640 million in the last year.IT industry gains recorded a two-digit growth of 19 percent or $ 150 million from the 2015-16 financial year, to $ 788,640 million.Read More
Pakistan Software Export Board (PSEB) Stats
On the other hand, PSEB reported 3 times more exports than SBP numbers ($ 2.81 billion) through the entry of software companies / houses.The PSEB estimate is based on services provided by various computer companies and software houses in different countries, but their reports are made in different sectors such as financial services, healthcare, etc., as well as electronic commerce , E-health and e-education.
In addition, the report on non-staff work is usually recorded at the expense of foreign money transfers. It should be noted that Pakistan is considered the fourth largest freelance market in the world. The PSEB assessment showed that the export of the freelancer of the IT sector is more than $ 200 million per year.Hence, the foreign exchange inflows in IT sector is not reported as its original potential.Partition of IT industry Exports of Services and Products
SBP to contour IT Forex Inflows
State Bank of Pakistan has taken a series of concrete measures to simplify the banking sector’s production revenues through the banking sector, which can reduce the under-reporting of IT and its activated services. The implementation of central banks’ instructions for commercial banks and software houses will lead to the identification of future IT exports on a monthly and yearly basis, which will also help all stakeholders to realize the potential and status of the sector IT in the country.
Coup d’oeil at 6 years Exports Read More
IT industry has the greatest potential in Pakistan, with the ability to expand domestic and internationally for export of services in terms of government support through policy and fiscal incentives.
Government’s inducements for IT sector
The government has set a vision to enhance the exports of this sector to $5 billion per annum by 2020, which seems not an impossible target. The government has laid down its vision for the IT sector and streamlined the following steps to aid in its growth:Read More
- Zero income tax on IT exports till June 2019
- 100 percent equity ownership allowed to foreign investors
- 100 percent repatriation of capital and dividends allowed
- 7 year tax holiday for venture capital funds.
CPEC and IT Parks Read More
In addition, a number of IT parks are being developed in the country, together with the continuous expansion of broadband services, several cities are dancing to make the ecosystem attractive and lucrative for IT companies, entrepreneurs and startups.
Promisingly, Pakistan companies that have offshore offices and who manage their revenues and investments in different countries will pluck the benefits and business opportunities in Pakistan. The foreign companies are looking for their investments in Pakistan with the development of China’s Economic Corridor (CPEC).