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ISLAMABAD: The ICT export remittances, including telecommunication, computer and information services for the first half (July-December) fiscal year 2021-22 surged to $1.302 billion at a growth rate of 36 percent compared to $959 million during the same period of 2020-21.

According to the data released by the Ministry of Information Technology and Telecommunication in December 2021, the ICT export remittances are $251 million at a growth rate of 29 percent when compared to $195 million reported for the month of December 2020.

Further, $30 million higher than export remittances during the previous month November 2021. The Ministry of Information Technology and Telecommunication has set a target of $3.5 billion for the current fiscal year.

Jul-Nov ICT export remittances increase 37.57pc to $1.05bn YoY

The government has set to achieve $5 billion exports target of the ICT sector by 2025, said the Federal Minister for Information Technology and Telecommunication Aminul Haq, while talking to Business Recorder.

The minister said that several proposals including giving a 10-year tax exemption for freelancers and facilitating accounts opening were under consideration. The ministry spokesperson said that the Ministry of IT and Telecommunication was committed to increasing the IT exports and taking special steps in that regard.

Haq has directed the PSEB to take every possible step for achieving the target of IT exports remittances. He said under the prime minister’s vision of “Digital Pakistan”, it was vital to take forward all the matters related to information technology and connect the youth especially students to the digital world.

He said that the Ministry of IT was playing an important role regarding coping with the Covid-19 pandemic through information technology, adding that the coronavirus cases were now declining in the country. The generous incentives from the government and various projects to enhance the capacity and capability of the IT industry have resulted in strong industry growth rates.

Copyright Business Recorder, 2022

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