Pakistan’s exports of IT and IT-enabled services maintained an upwardtrajectory in the current financial years, with exports receipts surging toover $600 million in the first quarter of the financial year 2021-22.
According to the State Bank of Pakistan (SBP), the exports of IT andIT-enabled services increased to $635 million from July to Septembercompared to the exports value of the last year, which stood at $445million, showing a staggering increase in inflows in the tune of $190million merely in one year, translating to a 42 percent year-on-year growth.
The growth in exports value of the sector is evident that the number oflocal and multinational IT companies are delivering a good number of ordersto the foreign clients in different countries.
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Measures of the government to support IT exports are reaping gradually itsfruits. The impact of Rupee depreciation against the Dollar is alsofavorable for the export of the IT sector. Leading IT exporters haveplanned to boost up the exports of the IT sector above $250 million permonth in order to close the financial year with over $3 billion in exports’value. However, the current state of the exports receipts, which stoodbetween $200 million to $225 million, is less than the potential of thelocal IT exporters.
