Pakistan’s IT exports surged 46 percent to $1.7 billion in the first 10 months of the current fiscal year of 2020/21 as rapid digital transformation driven by social-distancing orders increased demand for online services, official data showed on Tuesday.
ICT export remittances including telecommunication, computer & information services have surged up to US $1.708 billion at a growth rate of 45.86% during July-April of FY 2020-21, in comparison to US $1.171 billion during July-April of FY 2019-20.@MoitOfficial @GovtofPakistan
— Syed Aminul Haque (@SyedAminulHaque) May 25, 2021
Ministry of Commerce data showed that information and communication technology and telecom exports grew from $1.17 billion in the corresponding period a year earlier.
In April 2021, these exports grew 66 per cent to $196 million compared to $118 million in April 2020.
Adviser to Prime Minister of Pakistan for Commerce and Investment Razak Dawood said ICT and telecom exports now look set to breach the $2 billion mark for the first time in history.
“I commend the hard work of our ICT & telecom exporters and assure them that the ministry of commerce is at their service for any facilitation they need,” Dawood wrote on Twitter.
Digitization in the wake of the COVID-19 crises and the government’s recent measures to promote the IT industry have led to optimistic predictions that the IT exports could eventually grow to $10 billion by 2030. However, experts have warned that withdrawal of Tax exemptions will hamper this goal.
Image Source: Pixabay
