ISLAMABAD: The IT and IT-enabled Services (ITeS) export remittances comprising computer services and call centre services declined by 0.3 percent during the first quarter of current fiscal year 2022-23 and remained $633 million compared to $635 million during the same period of last fiscal year.
The State Bank of Pakistan’s (SBP) data showed that ITeS exports remittances declined by around 10 percent on a month-on-month (MoM) basis in September 2022 and remained $206 million compared to $228 million in August 2022.
On a year-on-year (YoY) basis, the sector exports remittances decreased by around 5 percent compared to $ 215 million in September 2021.
ICT export remittances, including telecommunication, computer, and information services, reached an all-time high of $ 2.616 billion, a growth rate of 47.43 percent in the fiscal year 2021-22 compared to $ 2.108 billion in the fiscal year 2020-21.
Federal Minister Information Technology and Telecommunication Syed Aminul Haque has stated that the IT exports target of $ 5 billion would be achieved by June 2023. He further said that the government is taking all possible steps to ensure a long-term IT industry growth trajectory and enhance IT industry exports to $ 5 billion by 2023.
The spokesperson of the ministry stated that more than 6,000 Pakistan-based IT companies were providing IT products and services to entities in over 100 countries.
Strong incentives are being provided to the IT industry, and there are several projects intended to facilitate and assist the IT industry in its growth trajectory and to ensure continued upward momentum in local and export earnings, the spokesperson added.
The IT minister said that efforts are being made to promote the IT and Telecom sector and to resolve issues. It is the result of IT Ministry's reforms, policies and various training programmes, as today, every other person is seen talking about the process of digitalization including freelancing, IT export, E-commerce, Animation, IT and telecom revolution and its positive impact.
Further, dozens of projects to provide high-speed broadband services in unserved and under-served areas are exposing people of rural and backward areas to the Digital World. We are continuously taking measures to empower women and provide a digital future to the youth of the country.
The recent floods have affected one-third of Pakistan and displaced millions of people; it is the duty of all of us to rehabilitate the flood victims. The same flood caused huge losses to Telecom companies in terms of infrastructure and revenue, but despite these, not only the Telecom towers and OFCs were restored with immediate effect, but all the Telecom companies have also made huge donations to the Flood Relief Fund.
Copyright Business Recorder, 2022
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