IT export remittances surge by 23.71pc

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

PSEB is the attached department of the Ministry of IT and Telecom (MOIT&T). The report also said that the ITeS export remittances surged from $1.11 billion in May 2020 to $1.230 billion in June 2020 registering a nominal growth of $0.12 million. In the previous year, this figure was $76 million during the same time period. The overall growth in this segment was registered to be $994.848 million, up from $917.875 million. The ministry has set the target to increase this volume to $5 billion in the next three years.

MOIT spokesperson said that the ministry was committed to increasing the IT exports and taking special steps in that regard. Federal Minister for IT & Telecommunication Syed Aminul Haq has also directed the PSEB to ensure achieving the target of IT exports remittances. He said that under the vision of “Digital Pakistan”, it was vital to take all the matters related to information technology forward and connect the youth to the digital world.

The ministry spokesperson, in his comment to a news publication, said that 6,000 Pakistan-based IT companies were providing IT products and services to entities in over 100 countries. Pakistan was ranked the 3rd most popular country for freelancing in the world, and Pakistani IT companies are providing products and services to the world’s largest companies. Pakistan’s ICT Industry has been a resounding 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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