ISLAMABAD: The IT and IT-enabled Services (ITeS) export remittances comprising computer services and call center services have surged to $1.98 billion at a growth rate of 47.1 percent in the first 11 months of the current fiscal year 2020-2021 (July-May), compared to $1.29 billion during the same period of 2019-2020.

This was announced by the Federal Minister for IT and Telecommunication, Syed Aminul Haque, here on Friday. He said that the country would achieve IT exports target of $2 billion by end of the current fiscal year and $5 billion by June 2023. The government has set a target of $5 billion for export remittances through information technology and IT-enabled services during the next three years.

Haque said that the government was taking all possible steps to ensure long-term IT industry growth trajectory and to enhance IT industry exports to $5 billion by 2023. Spokesperson of the ministry told Business Recorder that more than 6,000 Pakistan-based IT companies were providing IT products and services to the 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.

Pakistan was ranked the 3rd-most popular country for freelancing in the world, and Pakistani IT companies are providing products and services to the world's largest companies, the official added.

Copyright Business Recorder, 2021