IT & ITeS export remittances rise to $1.119bn: PSEB

IT-related export remittances, which include telecommunication, computer and information services, have risen up to $1.119 billion during the July to January period of financial year 2020-21, according to a recent tweet by the Pakistan Software Export Board (PSEB).

IT & ITeS export remittances witnessed a growth rate of 37.81% during the July-January period of financial year 2020-21 as compared to the same period last year.

Moreover, it is important to note that IT-related export remittances were with $812 million during the July-January period of financial year 2019-20.

While the government is making an effort to automate traditional process, increase access to digital service and support the gig economy during the COVID-19 pandemic, this unprecedented growth in IT-related export remittances is indicative of a positive trend.

Moreover, the Ministry Of IT & Telecom has also expressed ambitions to reach $2 billion by the end of the year if the pace of exports of services continues in the coming months.