Techniques to generate picosecond optical pulses from semiconductor lasers are reviewed. Experimental methods and results of theoretical analysis of active modelocking are presented. It is shown that modelocking will achieve the shortest pulses; but the use of a cumbersome external cavity will probably limit its practical use. Short pulses produced by direct modulation such as gain switching are considerably broader than those obtained by passive modelocking. However, no external cavity is needed; and the simplicity of this method makes it important to be explored further. We discuss recent experimental results where we generated picosecond pulses from a buried heterostructure laser diode with ultrashort current pulses obtained from a comb generator. Also, 28 ps pulses were obtained at a 2.5 GHz repetition frequency, using the gain switching method. An analytical analysis based on the rate equations shows qualitative agreement with our experimental results.