Pakistan achieves highest-ever growth in IT exports

Pakistan achieves highest-ever growth in IT exports

F.P. Report

ISLAMABAD: Pakistan has achieved the highest-ever exports of information technology and telecom services and products during the last seven months of the current fiscal year 2021-22, WealthPK reported on Wednesday.
The export proceeds surged to $1.487 billion at a growth rate of 32.65% in July-January period of 2021-22 compared to $1.121 billion during the same period of fiscal year 2020-21.
According to the data released by the ministry of information technology and telecommunication (MoITT), exports of telecommunication services were valued at $27 million in January 2022 compared to $24 million in January 2021, registering a growth of 10.4%.
The call centre services were worth $16 million in January 2022 compared to $10 million in January 2021, registering a growth of 58.7%. Similarly, computer services exports were $157 million in January 2022 compared to $136 million in January 2021, posting a growth of 15%.
The hardware consultancy services were $0.162 million in January 2022 compared to $0.043 million in January 2021, growing at a rate of 509%. The software consultancy services were $61 million in January 2022 compared to $44 million in January 2021, registering a growth of 40.7%.
The exports in computer services were $39 million in January 2022 compared to $34 million in January 2021, registering a growth of 14.2%, reports WealthPK. According to Pakistan Software Export Board (PSEB), the healthy growth rate achieved in January 2022 was historical because usually there was an expected dip in exports at year end.
It said Pakistan’s exports usually surged in the months of December and March.
The growth in exports showed that local and multinational IT companies were meeting a good number of orders placed by the foreign clients. The PSEB said the uptick in exports resulted from the government’s recent approval of several incentives to facilitate the IT industry.
These measures will help achieve aggressive growth targets and tap the business potential of all the sub-sectors operating in the field.
Federal Minister for IT and Telecommunication Syed Aminul Haq has directed the PSEB to take every possible step to achieve target of IT exports.
He said under the prime minister’s vision of “Digital Pakistan”, it was vital to take every step to connect the youth, especially students, to the digital world.
The minister said that steps were being taken to increase IT exports, and Pakistan’s IT industry was rapidly growing.
He said that the IT ministry was also playing an important role in coping with the Covid-19 pandemic through launch of applications, keeping people abreast with the latest developments and measures needed to keep the pandemic at bay.

The post Pakistan achieves highest-ever growth in IT exports appeared first on The Frontier Post.