IT exports increase 35.77pc to $1.302bn in six months

ISLAMABAD: The Ministry of Information Technology has revealed that the IT exports have increased at the growth rate of 35.77 percent in the first half of the current financial year.

The ministry in a statement issued here on Sunday said, “ICT export remittances, including telecommunication, computer, and information services for the period July-December Financial Year (FY) 2021-22 have surged to the US $1.302 billion at a growth rate of 35.77 percent in comparison to the US $959 million during July-December FY 2020-21”,

In December 2021, the ICT export remittances were US $251 million at a growth rate of 28.72 percent when compared to US$ 195 million reported for the month of December 2020 also, $30 million higher than export remittances during the previous month November 2021.

The net exports for the period July-December FY 2021-22 are US$ 972 million which is 74.65 percent of US$ 1.302 billion in exports. Last year, for the same period the net exports were US$ 681 million which was 71.01 percent of US$ 959 million in exports.

Meanwhile, Pakistan Tehreek-e-Insaf (PTI) leader Senator Faisal Javed Khan in a tweet said that Pakistan hit its highest ever Information Technology (IT) Exports in 6 months.

He said that “our IT Exports during Fiscal Year 21-22 surged to $1.302 billion at the growth rate of 36% v/s $959 million during the same period of 2020-21”. “Hopefully we’ll be able to cross the $3.5 billion mark during this financial year”, he added.

Faisal Javed Khan who is also Chairman Senate Standing Committee on Information and Broadcasting said that Prime Minister Imran Khan’s focus is on increasing exports to stimulate economic growth. “We will double our IT industry in 2 years”, he maintained.

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