I would say 99% are service based relying on off-shore business, Product based companies apart from few (like Netsol) focus in domestic market. No Pakistani company exists in billion dollar market of...
These are really just two different names for the same thing. If you want to draw a line, a "software product" may specifically refer to software which is sold.
Most of the major software companies, often referred to as "Big Software" are represented by trade organizations like the Business Software Alliance (BSA) and the Software & Information Industry...