The exports of IT and IT-enabled services have crossed the $800 million mark by the end of the third quarter of the financial year 2018-19, showing a slight growth of 2.1 percent compared with the same period of the previous financial year.
According to the State Bank of Pakistan (SBP), exports of IT and IT-enabled services increased to $808 million in the period of July to March of the financial year 2018-19 as compared with $791 million recorded last year.
Software consultancy earned the highest with a receipt of $258 million. It was followed by software exports valued at $208 million. Exports of telecommunication services stand at $150 million. Computer services drew exports of $107 million and Call Centers earned $74 million during the nine-month period.
The exports of IT and IT-enabled services are much lower-than-expected or sluggish considering the roadmap and plans chalked out in the previous year despite the fact that the new government also has ambitious plans to promote this sector.
The growth in receipts of IT exports could be considered as sluggish or negative considering the impact of Rupee depreciation against Dollar.
Roughly, the Rupee depreciated by nearly 15 percent against Dollar during the period of July to March. If these numbers are calculated with depreciation’s impact, the negative growth stands nearly 13 percent.
In recent months, not only the government but the central bank also made special arrangements to improve facilitation to the freelancers of IT services and reporting of IT exports.
During the nine months of the current financial year, average export earning of $90 million was received by the country, and will most likely surpass the $1 billion mark in the remaining months of the financial year.
IT exports created history in the last financial year 2017-18, recording all-time high exports of $1 billion.