Pakistan Software exports touch 5 billion mark

[FCPX]

Our family friends do the same thing. Office in New York work done in Lahore

.... nothing to declare

Thats it and I am finding the same env in the media/animation industry.

 

[The Accountant]

No you should read before you post...it will Help to read properly



“Between 2016 and 2017, Pakistan’s IT sector made great leaps in revenue and the BOP showed an amazing improvement with exports at $3.3 Billion. In 2018, Pakistan reached the $ 5 billion mark and the Pakistan Software Exports Board (PSEB) has already chalked out a plan with the previous government to boost the exports to over $6 billion by the end of 2020 and $10 billion by the end of 2025.”

Bro stop fighting uselessly and try to learn the facts.

Thanks to post no. 13 from @Nilgiri he has identified the actual problem with the evidence.

 

[RIP Pak LAW]

Well the source is US department of commerce.

The biggest problem in Pakistan is undocumented economy. Some say our informal economy is as big as formal .

These software exports are always controversial . They set up export houses in foreign country and get the work done for pennies in Pakistan and keep the payments in the foreign country significantly underreporting their business.

What the above statement is saying is that they export that much now if they report to the government for tax purposes and for documentation is anyone’s guess.

That's how they get business at first place. If they do not keep their offices abroad, they won't get much projects.

Even in that case 5 billion dollars is not possible ... either its 5 million dollars or 5 billion rupees

Lmao only Trg gets $7 millions deposited to their Washington office on 'monthly' basis from their US based clients. Trg employs around 1200 people all over Pakistan.

P. S Affinity, a trg subsidiary recently hired ex PM of UK David Camaroon in board of directors for Washington office.

https://propakistani.pk/2019/06/03/pakistani-owned-company-hires-ex-prime-minister-of-uk/

https://www.bbc.com/news/uk-politics-48479659

@The Accountant

For international audiences, such companies are US based but fact of the matter is, all the working resources are located in Pakistan. Yes major chunk of the money settles in US bank accounts but Pakistan do gets some revenue as well hence the reported IT exports are greatly kept low.

 

[nahtanbob]

That's how they get business at first place. If they do not keep their offices abroad, they won't get much projects.



Lmao only Trg gets $7 millions deposited to their Washington office on 'monthly' basis from their US based clients. Trg employs around 1200 people all over Pakistan.

P. S Affinity, a trg subsidiary recently hired ex PM of UK David Camaroon in board of directors for Washington office.

https://propakistani.pk/2019/06/03/pakistani-owned-company-hires-ex-prime-minister-of-uk/

https://www.bbc.com/news/uk-politics-48479659

@The Accountant

For international audiences, such companies are US based but fact of the matter is, all the working resources are located in Pakistan. Yes major chunk of the money settles in US bank accounts but Pakistan do gets some revenue as well hence the reported IT exports are greatly kept low.

is that money in USA going to ever come back to pakistan ?

 

[RIP Pak LAW]

is that money in USA going to ever come back to pakistan ?

Yes in bits. For example, trg in the last 3-4 years leased and constructed multi storey buildings in 3 cities Karachi, isl and lhr. Karachi Shareh e Faisal trg Tower has 15 floors where as Lahore and Isl also have multiple floors. Atleast in Karachi all the floors are fully employed and are used in day/night shifts.

Now tell me from where did they get all the money from of constructing whole new multiple storey tower at top commercial area in Karachi? That building construction itself costed millions $$$. Obviouly the money came from their US bank accounts when 'required'. Here I am even not talking about monthly payrolls of employees.

 

[nahtanbob]

Yes in bits. For example, trg in the last 3-4 years leased and constructed multi storey buildings in 3 cities Karachi, isl and lhr. Karachi Shareh e Faisal trg Tower has 15 floors where as Lahore and Isl also have multiple floors. Atleast in Karachi all the floors are fully employed and are used in day/night shifts.

Now tell me from where did they get all the money from of constructing whole new multiple storey tower at top commercial area in Karachi? That building construction itself costed millions $$$. Obviouly the money came from their US bank accounts when 'required'. Here I am even not talking about monthly payrolls of employees.

Are the owners of TRP Pakistani citizens ??
In general I get your point

 

[RIP Pak LAW]

Are the owners of TRP Pakistani citizens ??
In general I get your point

Yes dual nationals. Brilliant minds. Graduated from top universities of Pakistan and US. Just Google nadeem elahi, zia chisti, Ahmed khaishgi etc.

 

[The Accountant]

That's how they get business at first place. If they do not keep their offices abroad, they won't get much projects.



Lmao only Trg gets $7 millions deposited to their Washington office on 'monthly' basis from their US based clients. Trg employs around 1200 people all over Pakistan.

P. S Affinity, a trg subsidiary recently hired ex PM of UK David Camaroon in board of directors for Washington office.

https://propakistani.pk/2019/06/03/pakistani-owned-company-hires-ex-prime-minister-of-uk/

https://www.bbc.com/news/uk-politics-48479659

@The Accountant

For international audiences, such companies are US based but fact of the matter is, all the working resources are located in Pakistan. Yes major chunk of the money settles in US bank accounts but Pakistan do gets some revenue as well hence the reported IT exports are greatly kept low.

Not possible. These companies has to pay expenses as well. So you are suggesting that after paying all the expenses and local profits amounting to USD 1 billion they have 4 billions further peofit that they can park outside Pakistan ? Does this make sense ?

I agree TRG might have been making close to 90 million but how many other companies are theie that can even came close to TRG ? Answere is 0.

A revenue supression of couple of hundred million dollars is a possiblity but supressing a 4 billion dollar amount in just IT industry ... not possible man ... 5 billion dollar means 800 billion rupees ... do you really think our IT export could be that big ? Which high end product we sale that can generate such a sale except for call center services ?

 

[nahtanbob]

Yes dual nationals. Brilliant minds. Graduated from top universities of Pakistan and US. Just Google nadeem elahi, zia chisti, Ahmed khaishgi etc.

I have heard of Zia Chisti. Unless he has to file taxes in pakistan it is unlikely any of that money is going to pakistan

 

[RIP Pak LAW]

Not possible. These companies has to pay expenses as well. So you are suggesting that after paying all the expenses and local profits amounting to USD 1 billion they have 4 billions further peofit that they can park outside Pakistan ? Does this make sense ?

I agree TRG might have been making close to 90 million but how many other companies are theie that can even came close to TRG ? Answere is 0.

A revenue supression of couple of hundred million dollars is a possiblity but supressing a 4 billion dollar amount in just IT industry ... not possible man ... 5 billion dollar means 800 billion rupees ... do you really think our IT export could be that big ? Which high end product we sale that can generate such a sale except for call center services ?

There are other top IT consultancy companies in Pakistan as well kheir I am not sure about $5 billions mark but won't be surprised to a figure close to it. PSEB is also a semi govt organisation so won't give a wrong statement all together.

I have heard of Zia Chisti. Unless he has to file taxes in pakistan it is unlikely any of that money is going to pakistan

I already explained you earlier how money goes into Pakistan. Trg holdings is registered in Washington where as its subsidiaries trg tech, Ibex global, dgs etc are in Pakistan. Trg is also listed in Pakistan stock exchange.

GoP has no problem with it.

 

[nahtanbob]

There are other top IT consultancy companies in Pakistan as well kheir I am not sure about $5 billions mark but won't be surprised to a figure close to it. PSEB is also a semi govt organisation so won't give a wrong statement all together.



I already explained you earlier how money goes into Pakistan. Trg holdings is registered in Washington where as its subsidiaries trg tech, Ibex global, dgs etc are in Pakistan. Trg is also listed in Pakistan stock exchange.

GoP has no problem with it.

I am no expert on corporate finances and corporate taxes

 

[The Accountant]

There are other top IT consultancy companies in Pakistan as well kheir I am not sure about $5 billions mark but won't be surprised to a figure close to it. PSEB is also a semi govt organisation so won't give a wrong statement all together.



I already explained you earlier how money goes into Pakistan. Trg holdings is registered in Washington where as its subsidiaries trg tech, Ibex global, dgs etc are in Pakistan. Trg is also listed in Pakistan stock exchange.

GoP has no problem with it.

Check post no. 13. Its just an error in reporting.

I am sure we dont have enough resources to export 5 billion dollars

 

[zip]

Check post no. 13. Its just an error in reporting.

I am sure we dont have enough resources to export 5 billion dollars

May be total revenue from local market and exports combined ..