Govt sets IT exports target to $15b in next 5 years

The government has set the target of enhancing IT exports to fifteen billion dollars in the next five years. The IT sector is one of the priority sectors of Special Investment Facilitation Council (SIFC). State Bank of Pakistan has made amendments in the Foreign Exchange Manual to increase the international presence of IT companies in the country. Under these amendments, the profit carrying limit for IT exporters has been increased from thirty five percent to fifty percent. The amendments also allow local IT companies to set up more than one entity abroad to expand the IT sector internationally. Source: Radio Pakistan