IT exports remittances grew by 29.26% in FY22 to $1.94 billion from $1.50 billion in the same period last year. It includes telecommunication, computer and information services.
In March 2022, IT exports remittances were $259 million, up 23.92 percent from the $209 million reported in March 2021. Ministry of Information Technology and Telecommunication released the statistics.
March’s IT exports were also $58 million greater than the $201 million received in February 2022. A total of $1.94 billion in ICT exports have generated by the IT industry in the first nine months of this fiscal year.
In the current fiscal year, net IT exports increased from FY21 to FY22. 74.72 percent of last year’s $1.50 billion in export revenues went to net exports of $1.12 billion. However, given the current political unrest, the country’s goal of remitting Rs3.5 billion through IT export is less realistic.
Pakistan’s federal minister for IT and Telecommunications ordered the Pakistan Software Export Board (PSEB) to take an additional step to meet the IT export objective after the numbers were made available. Moreover, it’s critical to engage the youth, especially students with the digital world.