While addressing the 38th meeting of the Board of Directors of Pakistan Software Export Board (PSEB), the minister said that IT industry was growing in terms of the number of companies, revenue, exports and workforce every year, thereby demonstrating clear confidence in the ability of the local companies to deliver IT solutions and services which met expectations of foreign clients.

The meeting was convened to review various initiatives for accelerating growth of the IT sector between 2018-21.

The Board discussed the proposals at length that would take Pakistan’s IT & ITeS industry in the next phase of growth.

"Pakistan’s IT & ITeS Sector has developed phenomenally due to our strenuous constant efforts and generous incentives and facilitation granted to the sector which include income tax exemption on IT exports till June 2019, 100pc foreign ownership, 100pc repatriation of capital and dividends, 3-year tax exemption for IT startups, and tax holiday for venture capital funds till June 2024."

She said that Pakistan's growth rate of IT & ITeS exports had jumped 150pc over the last five years, which was a remarkable achievement.

The board was apprised that 15pc increase had been witnessed in the number of call centers during last one year.

The Minister said, "Although we have achieved our major targets but there is much more to do to enhance IT Company's representation from Pakistan at international fora."

She directed Pakistan Software Export Board management to have more coordination with all stake holders to enhance the country's participation in key international events to enhance contribution of its IT sector's economy through foreign exchange earnings and job creation and take all possible measures to brand Pakistan as an ideal IT destination for IT outsourcing.

Federal Secretary IT Aamir Ashraf Khawaja, Member Telecom Mudassar Hussain, Member IT Syed Raza Shah, Chairman Pasha Barkan Saeed, Acting MD PSEB Syed Ali Abbas Hasani and other Board members were also present in the meeting.