Over the last decade, Pakistan has emerged as one of the fastest-growing IT exporters in the world. It is one of the few industries that provide tangible benefits to the country without importing anything.
In the Fiscal Year 2022(FY22) Pakistani IT industry made a record-breaking remittance in the IT sector of $2.616 billion, shattering the records of all the previous years. Last year revenue from the IT sector of Pakistan was $2.108 billion, which has increased by 24% this year.
The Government of Pakistan has set a target of $5 billion for the next year, FY23. The Government holds massive plans for the upcoming years for the IT industry of Pakistan.
Here are some of the reasons why Pakistan can reach this goal.
Advancements in AI Labs
Progression is made on every level in the IT industry. In 2018 National Centre of Artificial Intelligence (NCAI), Lahore was built, which is now participating in all the international forums, representing Pakistan and trying to export quality AI products in Pakistan. NCAI is working hard day in and day out to train Pakistani students to excel in the field of AI and transfer impactful changes to the Pakistani economy.
Other than that, there are plenty of other public and private labs producing AI software and hardware, namely, ITU, NUST, LUMS, PUCIT, and FAST. These universities provide excellent latest exposure and practical study to enthusiastic IT students.
Incentives to IT Investors
The Government gives insane incentives to anyone related...
Read Full Story: https://www.techjuice.pk/it-industry-of-pakistan-is-exported-2-66-billion-in-2022/
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