Pakistan’s IT export remittances increase by 23.71%

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IT companies by Rimjhim652 on DeviantArt

The Information Telecommunication (IT) & IT-enabled Services (ITeS) export remittances comprising computer services and call center services surged by 23.71% to $1.230 billion in the fiscal year 2019-20 compared to $994.848 million during the same period 2018-19, disclosed in the performance report of the Pakistan Software Export Board (PSEB) on Friday.

PSEB is the attached department of the Ministry of IT & Telecom (MOIT&T). The report also informed that the ITeS export remittances increased from $1.11 billion in May 2020 to $1.230 billion in June 2020, registering a nominal growth of $0.12 million.

Last year, this figure was $76 million during the same period. The general growth in this segment was registered to be $994.848 million, up from $917.875 million. The ministry has set the target to surge this volume to $5 billion in the next three years.

MOIT spokesperson said that the ministry was devoted to increasing the IT exports and taking extraordinary steps in that regard. Federal Minister for IT & Telecommunication Syed Aminul Haq has directed the PSEB to ensure achieving the target of IT exports remittances as well.

He assured that under the vision of “Digital Pakistan,” it was important to take all the matters related to IT and connect the youth to the globalized, digital world.

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

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Pakistan was classified as the third most popular country for freelancing globally, and Pakistani IT companies are providing products and services to the largest companies globally. Pakistan’s ICT Industry has been a massive success story for Pakistan, having achieved a stellar remittance inflow growth rate, and being the largest net exporter in the services sector.

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