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IT Exports Record a Massive 46% Growth in 10 Months of FY21

The IT and IT-enabled Services (ITeS) export remittances comprising computer services and call center services have surged to $1.7 billion at a growth rate of 46 percent in the first ten months of the fiscal year 2020-2021 (July-April), compared to $1.171 billion during the same period of 2019-2020.

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Advisor to Prime Minister on Commerce, Abdul Razak Dawood, said that exports of this sector now look set to breach the $2 billion mark for the first time in history.

The Advisor took to Twitter and stated that the Ministry of Commerce is glad to inform that during Jul-Apr 2021, Pakistan’s ICT & telecom exports grew by 46 percent to $1.7 billion compared to $1.17 billion in Jul-Apr 2020.

 

In April 2021, these exports grew by 66 percent to $196 million compared to $118 million in April 2020. “These exports now look set to breach the 2 billion mark for the first time in our history,” said Dawood. Furthermore, adding that he commends the hard work of our ICT & Telecom exporters and assures them that the Ministry is at their service for any facilitation they need.


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The government has set a target of $5 billion for export remittances through information technology and IT-enabled services during the next three years.

Federal Minister for IT and Telecommunication, Syed Aminul Haque, said that the government was taking all possible steps to ensure long-term IT industry growth trajectory and to enhance IT industry exports to $5 billion by 2023.

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The spokesperson of the Ministry said that more than 6,000 Pakistan-based IT companies were providing IT products and services to entities in over 100 countries.

Strong incentives are being provided to the IT industry, and there are several projects intended to facilitate and assist the IT industry in its growth trajectory and to ensure continued upward momentum in local and export earnings.

Pakistan was ranked the 3rd most popular country for freelancing, and Pakistani IT companies are providing products and services to the world’s largest companies, the official added.

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