According to a recent tweetlink by the PakistanSoftware Export Board, IT-related export remittances which includetelecommunications and information services, have shot up to a whopping $1.119billion with a growth rate of 37.81% during a fiscal period spanningJul-Jan 2021, in comparison to USD 812 million during the same period lastyear.
If the current pace continues, the exports could reach $2 billion by theend of the year, paving Pakistan’s way to achieve a substantial milestonesince it would be the highest in history. The unprecedented growth can beattributed to the government’s measures to bring about automation, new waysof offering digital services, and the boom of the gig economy to whichmillions of Pakistani’s are affiliated in the wake of the COVID-19 crisesworldwide.
It is to be noted that the Ministry of IT has expressed ambitionslinktoearn $5 billion from IT exports by 2023, and the recent milestone bringsthe country closer to achieving that goal. The Overseas Investors Chamberof Commerce and Industry (OICCI), in its annual report for 2020link,even highlighted the potential for Pakistan to enhance its IT-enabledservices’ exports to $10 billion.
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However, the tech industry leaders in a recent conference hosted byTABADLABS had stressed the urgency for digital transformation, with theP@sHA chief expressing deep concern on the adverse effects of FIA raids onsoftware houses.
