The IT and IT-enabled Services (ITeS) export remittances comprisingcomputer services and call center services declined by 15 percentmonth-on-month (MoM) in July 2022 and remained $199 million compared to$235 million in June 2022, says State Bank of Pakistan (SBP).
However, on a year-on-year (YoY) basis, the sector exports remittancesincreased by 1.5 percent compared to $196 million in July 2021.
ICT export remittances, including telecommunication, computer, andinformation services, reached an all-time high of $2.616 billion, a growthrate of 47.43 percent in FY2021-22 compared to $2.108 billion in FY2020-21.
Federal Minister Information Technology and Telecommunication, Syed Amin ulHaque, has stated that the IT exports target of $5 billion would beachieved by June 2023. He further said that the government is taking allpossible steps to ensure a long-term IT industry growth trajectory andenhance IT industry exports to $5 billion by 2023.
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The spokesperson of the ministry stated that more than 6,000 Pakistan-basedIT companies were providing IT products and services to entities in over100 countries. Strong incentives are being provided to the IT industry, andthere are several projects intended to facilitate and assist the ITindustry in its growth trajectory and to ensure continued upward momentumin local and export earnings, the spokesperson added.
Pakistan was ranked the 3rd most popular country for freelancing in theworld, and Pakistani IT companies are providing products and services tothe world’s largest companies, the official added.
