ISLAMABAD: Pakistan’s IT sector saw export remittances rise to $286 million in July, marking a 33.64% increase from $214 million in July of the previous fiscal year, according to the Ministry of Information Technology and Telecommunication.
The IT sector’s exports represented 46% of Pakistan’s total exports for the month. This growth is attributed to strong demand for Pakistani IT services and a growing number of IT companies securing international contracts.
The sector has experienced significant expansion, with over 2,000 registered IT companies now operating in Pakistan. IT and IT-enabled services (ITES) have been crucial for foreign exchange earnings, with exports nearing $2.5 billion in the previous fiscal year.
Moreover, Minister of State for Information Technology and Telecommunication, Shaza Fatima, highlighted the government’s goal to further boost IT exports, setting a target of $3.5 billion for the next fiscal year.
In addition, the Ministry of IT is supporting this growth through the establishment of IT parks, tax incentives for tech startups, and training programs for IT professionals.
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