IT exports surge to $2.2 billion

Grow 29% in Jul-Apr FY22 compared to exports of $1.7b last year

ISLAMABAD:

Remittances from Pakistan’s information and communication technology (ICT) exports, including telecommunication, computer and information technology services, surged 29.29% year-on-year to $2.198 billion in the period July 2021 to April 2022.

In the same 10-month period of previous year, the ICT exports stood at $1.7 billion, said a statement issued by the Ministry of Information Technology and Telecommunication on Friday.

In April 2022 alone, the ICT export remittances were worth $249 million at a growth rate of 29.02% compared to $193 million reported for April 2021.

However, in comparison to the export remittances of $260 million during the previous month of March 2022, the remittances in April were lower by $11 million.

Net exports from July 2021 to April 2022 stood at $1.665 billion, which was 75.75% of the $2.198 billion in ICT exports. Last year, for the same period, the net exports were valued at $1.274 billion, which accounted for 74.94% of the $1.7 billion in ICT exports.

Besides promoting ICT exports, the IT ministry is also working to remove all obstacles and enhance cooperation with the telecom sector for the fulfillment of Digital Pakistan Vision including high-level efforts to reduce taxes and address other issues related to the central bank and the Right of Way.

In a meeting with Telenor executives on Thursday, Federal IT Minister Syed Aminul Haque emphasised that the telecom sector needed to upgrade its infrastructure to improve the quality of services.

He said that the IT ministry was providing 90% to 95% subsidy for the provision of mobile and broadband services in the un-served and under-served areas, and telecom companies should now play their role in upgrading services in urban areas.

“For the digitalisation process, it is essential to address public grievances and expand telecom networks,” the minister remarked.

 

Published in The Express Tribune, May 21^st, 2022.

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