2.198 billion, up 29 percent from $1.7 billion in FY 2020-21
From July 2021 to April 2022, information technology (IT) export remittances, which include telecommunications, computer, and information services, reached an all-time high of $2.198 billion, up 29 percent from $1.7 billion in FY 2020-21. According to data from the State Bank of Pakistan, ICT export remittances increased by 29% to $249 million in April 2022, up from $193 million in April 2021.
4% month over month in April 2022
ICT export remittances, on the other hand, fell by 4% month over month in April 2022, from $260 million in March 2022.
$1.5 billion to $15 billion in the coming years
Pakistani Prime Minister Shehbaz Sharif has stated that the technology sector in Pakistan provides enormous prospects for investment and that the government plans to grow IT exports from $1.5 billion to $15 billion in the coming years.
The premier stated that foreign IT companies would be aided in all aspects of investment, expansion. And close partnership in order to meet this goal.
In the previous cabinet, the Ministry of Information Technology submitted measures to boost software exports. The cabinet directed the ministry to bring its suggestions to the Economic Coordination Committee and then to the cabinet again.
Pakistan’s IT Sector
PM Sharif note at the meeting that Pakistan’s IT sector had. A big potential for investment and exports that needed to be realize. Syed Aminul Haq, the Federal Minister of Information Technology and Telecommunications has urged. The PSEB to take all necessary steps to meet the target of IT export remittances. Afterward he said that under the prime minister’s “Digital Pakistan” vision. It is critical to advance all information technology issues and connect the youth. Particularly students, to the digital world.