SOURCE: Pakistan Software Export Board

April 21, 2008 14:21 ET

Pakistan Delegation Arrives in Canada to Explore Trade Opportunities

Government of Pakistan Allows Foreign Investors 100% Ownership of Equity, 100% Repatriation of Profits, With Tax Exemption for IT Companies Until 2016

MONTREAL--(Marketwire - April 21, 2008) - Pakistan Software Export Board (PSEB) is all set to explore opportunities in the Canadian IT market. Targeting Montreal, Ottawa and Toronto, PSEB is organizing meetings in Canada from 21 - 30 April, 2008. These meetings are being organized in association with Canada Pakistan Business Council, Export Development Canada, Canadian Advanced Technology Alliance, Canadian Imperial Bank of Commerce, The Indus Entrepreneur and Royal Bank of Canada. PSEB official stated that this visit will enable Pakistani IT companies to learn from successful experiences of their counterparts and expand their presence globally.

The Pakistani delegation comprises twenty-one leading Pakistani IT Companies, which are renowned in their respective areas of expertise in software/hardware development, web applications, graphics, animation, multimedia and other business process management services.

With an IT industry worth more than US$ 2.8 billion, including annual IT exports exceeding US$ 1.4 billion, Pakistan is eyeing to increase the size of its IT sector to over US$ 11 billion by 2011. Pakistan has an edge over the neighboring countries in terms of its thriving Business Process Outsourcing Industry in addition to having 30 per cent less operational costs as compared to India.

Presently there are 1161 active IT companies in Pakistan, and 110 of them are also ISO certified. Pakistan has a large pool of 110,000 English-proficient skilled IT professionals, top of the line IT infrastructure, competitive workforce and affordable rates for connectivity due to which Pakistan is emerging as a destination of choice for international IT/ITES companies and outsourcing vendors.

A PSEB official said annual growth of Pakistan IT exports has averaged 50% over the last four years. Pakistani companies have acquired financing from Silicon Valley Venture Capital (VC) Funds and now government is also facilitating Venture Capital areas in Pakistan. During the visit Canadian companies would also be invited to set up their development centers in Pakistan, he added.

About PSEB:

PSEB is Government agency mandated to promote Pakistan's IT Industry including software, services, hardware, call centers. PSEB has been facilitating IT industry through its programs in Human Capital, Office Space, Marketing, Company Capability Development, Telecom Bandwidth, Industry Finance, Public Policy, Research and Facilitation.

Contact Information