Pakistan’s IT Exports Register 3% Decline in February

The IT and IT-enabled Services (ITeS) export remittances comprising computer services and call center services increased by over 1.7 percent during the first eight months of the current fiscal year 2022-23 and remained $1.718 billion compared with $1.689 billion during the same period of the last fiscal year.

According to the official data, on a year-on-year (YoY) basis, the sector exports remittances decreased by around 3 percent to $195 million in February 2023 compared to $201 million in February 2022.

On a month-on-month basis, the sector exports remittances increased by 2.5 percent when compared to $190 million in January 2023.

The ICT export remittances, including telecommunication, computer, and information services, reached an all-time high of $2.618 billion, a growth rate of 47.43 percent in the fiscal year 2021-22 (FY22) compared to $2.108 billion in the fiscal year 2020-21 (FY21).

The Ministry of Information Technology and Telecommunication officials stated that despite persistent ease of doing business challenges and increase in the cost of doing business, ICT export remittances of $1.718 billion have been realized by the IT and ITeS Industry during the period July 2022 to February 2023 of the fiscal year 2022-23 (FY23).

The IT ministry had envisaged that the IT exports target of $5 billion would be achieved by June 2023. However, the ministry has warned the government that on account of the non-implementation of agreed incentives, lack of consistency in policies, as well as, without resolving the tax and banks-related issues, the telecom sector exports remittances may suffer besides compromising its digital vision.

Get Alerts

Follow ProPakistani to get latest news and updates.

ProPakistani Community

Join the groups below to get latest news and updates.