IT exports to exceed $3.5bn in 2022

December 07, 2021: The Ministry of Information Technology and Telecommunication (MoITT) informed that Information Technology (IT) exports would exceed the target of $3.5 billion by the end of December 2022, as reported by APP. 

So far, the IT exports have witnessed a 39.26% growth in the first four months of the current financial year.

In this regard, MoITT was taking several initiatives for the provision of quality broadband services and working on USF’s 43 projects worth over Rs29bn to achieve goals. 

An official of the ministry said that under the present government, the USF has shown a 100% increase in its productivity since inception, with 6 projects in the first year, 12 projects in the second year, and 25 projects in the third year. He said that Pakistan Software Export Board (PSEB) was taking steps to establish software technology parks across the country to facilitate freelancers.

Ministry of IT was committed to enhancing connectivity and improving digital infrastructure to facilitate the common man. 

The Ministry official further added, “The ICT export remittances, including telecommunication, computer, and information services have surged to the $2.123bn (largest exporter in services sector & highest net exporter with the $1.573bn in net exports) at a growth rate of 47,43% during FY 2020-21 in comparison to the $1.440bn during FY 2019-20.”

“IT and Telecom, Information and Communications Technology (ICT) export remittances, including telecommunication, computer, and information services for the period July-October Financial Year 2021-22 have surged to the $830 million at a growth rate of 39.26% in comparison to the $596 million during July-October FY 2020-21,” he added.

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