AIRLINK 75.00 Increased By ▲ 0.40 (0.54%)
BOP 5.12 Decreased By ▼ -0.02 (-0.39%)
CNERGY 4.46 Decreased By ▼ -0.04 (-0.89%)
DFML 33.95 Increased By ▲ 0.95 (2.88%)
DGKC 89.10 Increased By ▲ 0.20 (0.22%)
FCCL 22.60 Increased By ▲ 0.05 (0.22%)
FFBL 32.90 Increased By ▲ 0.20 (0.61%)
FFL 9.73 Decreased By ▼ -0.11 (-1.12%)
GGL 11.03 Increased By ▲ 0.15 (1.38%)
HBL 115.61 Increased By ▲ 0.30 (0.26%)
HUBC 136.68 Increased By ▲ 0.05 (0.04%)
HUMNL 9.80 Decreased By ▼ -0.17 (-1.71%)
KEL 4.64 Increased By ▲ 0.01 (0.22%)
KOSM 4.79 Increased By ▲ 0.09 (1.91%)
MLCF 40.10 Increased By ▲ 0.40 (1.01%)
OGDC 139.50 Increased By ▲ 0.54 (0.39%)
PAEL 26.60 Decreased By ▼ -0.29 (-1.08%)
PIAA 26.21 Increased By ▲ 1.06 (4.21%)
PIBTL 6.75 Decreased By ▼ -0.09 (-1.32%)
PPL 123.65 Increased By ▲ 0.91 (0.74%)
PRL 26.99 Decreased By ▼ -0.02 (-0.07%)
PTC 14.20 Increased By ▲ 0.20 (1.43%)
SEARL 60.06 Increased By ▲ 0.59 (0.99%)
SNGP 70.79 Decreased By ▼ -0.36 (-0.51%)
SSGC 10.43 Decreased By ▼ -0.01 (-0.1%)
TELE 8.59 Decreased By ▼ -0.06 (-0.69%)
TPLP 11.51 No Change ▼ 0.00 (0%)
TRG 65.05 Decreased By ▼ -0.08 (-0.12%)
UNITY 26.04 Increased By ▲ 0.24 (0.93%)
WTL 1.42 Increased By ▲ 0.01 (0.71%)
BR100 7,846 Increased By 26.6 (0.34%)
BR30 25,624 Increased By 47.2 (0.18%)
KSE100 74,976 Increased By 312.1 (0.42%)
KSE30 24,163 Increased By 91.8 (0.38%)

ISLAMABAD: Data for information technology exports in January 2024 is alarming as it records a decline of 12.4 percent to $265 million in IT exports on a month-on-month (MoM) basis as compared to December 2023; where it stood at $303 million.

This was stated by leading IT exporter Noman Said.

“We must accept that there are challenges in the IT industry with an open mind, which are hampering the efforts to realize the full potential of IT exports,” Said added.

‘IT exports rise 32pc in 60 days’ due to SIFC’s decisions: minister

Three hundred million dollars a month is a psychological barrier vis–a–vis IT exports; and, will translate into attainment of the country’s annual IT exports target for the year fiscal year 2024; i.e. $3.5 billion - and that should precisely be the target for the outgoing fiscal year, he added.

Noman reiterated that IT is a sector which can help Pakistan improve its socio-economic indicators through stabilizing rupee-dollar parity and reigning-in costlier dollar’s multiplier effects on inflationary pressures on the back of swiftly increasing the country’s exports. IT is an industry which doesn’t require an incubation period of 5 - 10 years as is the case in most of the other export-oriented industries of the country, he added.

Said further elaborated the role and scope of special investment facilitation council (SIFC) for attracting investments into the IT industry through clearing red tape and inconsistency in policies for a few years to come.

He articulated the demands of the private-sector for policy interventions on a federal level as: (i) declare the IT industry irrevocably tax-free for a decade – notwithstanding any change in the government (ii) MoITT, PSEB, SBP, FBR and SECP should have facilitative and uniform policies; irrespective of their institutional orientation; for creating an enabling environment for the growth of the IT industry in the country (iii) MoITT should embark on a national-level skills development programs in artificial intelligence (AI); games development; FinTech; digitalization of governance; blockchain technologies and app development (iv) private-sector representation is a must on special technology zones authority (STZA) and provincial information technology boards to enable them make policies that can deliver on ground.

Copyright Business Recorder, 2024

Comments

Comments are closed.

Hghjh Apr 13, 2024 04:42pm
Export is not like getting a fixed monthly wages, so stop moaning and grining.
thumb_up Recommended (0)