June 2013 to February 2016: valid registrations of IT and ITeS companies with PSEB up 71 percent

The valid registrations of Information Technology (IT) and IT-enabled Services (ITeS) companies with Pakistan Software Export Board (PSEB) increased by 71 percent from 681 companies in June 2013 to 1,162 companies in February 2016 According to documents of the Ministry Information Technology and Telecommunication, it is not mandatory for IT companies to register with PSEB, however the number of registered IT&ITeS companies increased by 481 during June 2013-February 2016.
The documents further maintained that IT remittances have increased by 58 percent during the last two fiscal years. Overall, the total IT exports are estimated to have grown from $1.3 billion in 2013 to over $2.2 billion in December 2015. Though Foreign Direct Investment in the country declined in Information Technology Sector with a $19.7 million in the first eight months (July-February) of 2015-16 on a year-on-year basis; however, it is a fact that the foreign investment in the Telecom Sector has been increased after launching 3G and 4G technologies in the country.
The Ministry maintained that the foreign investment in the Telecom Sector has increased from $160.8 million in 2012-13 to $908 million in 2014-15. PSEB is in progress of implementing registration of freelancers and providing them incentives and specialised trainings in order to create employment for youth. PSEB is also planning to train freelancers in the country during 2016-17 while improving their freelancing skills and revenue.
According to a report prepared about PSEB achievements, PSEB and its member IT companies exhibited at IT events in China, Dubai, Kenya, and Spain generating more than 500 foreign leads. Currently, PSEB has 12 Software Technology Parks (STPs) in Islamabad, Lahore and Karachi providing IT-enabled office space. These STPs have been established by converting suitable third-party buildings through agreements with their owners.
PSEB deployed 800 IT graduates/final-year students as interns at IT companies during 2013-15 and is planning to place 3,000 more IT graduates on internship in the IT industry during 2016-17. Overall, 5,800 IT graduates/final-year students have been deployed as interns at IT companies during the last decade.