Wednesday, April 24, 2024

IT and IteS export remittances have increased by $1.98 billion in the last 11 months

IT and IT-enabled Services (IteS) export remittances, which include computer and call centre services, increased by 47.1 percent to $1.98 billion in the first 11 months of fiscal year 2020-2021 (July-May), compared to $1.29 billion in the same period of fiscal year 2019-2020.

Syed Aminul Haque, the Federal Minister of Information Technology and Telecommunications, stated this here on Friday. He predicted that the government would hit its aim of $2 billion in IT exports by the end of this fiscal year and $5 billion by June 2023. During the following three years, the government has set a goal of $5 billion in export remittances using information technology and IT-enabled services.

According to Haque, the government is taking all feasible steps to ensure the IT industry’s long-term growth trajectory and to boost IT exports to $5 billion by 2023. According to a ministry spokesperson, more than 6,000 Pakistan-based IT enterprises provide IT products and services to entities in more than 100 countries.

Strong incentives are being offered to the IT industry, and numerous initiatives are being developed to aid and facilitate the IT industry’s growth trajectory, as well as to ensure that local and export earnings continue to rise.

Pakistan is the world’s third-most popular place for freelancing, according to the official, and Pakistani IT companies provide products and services to the world’s largest corporations.

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