ISLAMABAD: The IT and IT-enabled Services (ITeS) export remittances comprising computer services and call centre services have surged to $2.123 billion at a growth rate of 47.43 percent in fiscal year 2020-21, compared to $1.44 billion during 2019-2020.

The sector exports remittances remained $214 million in June 2021 compared to $143 million in June 2020, witnessing 50 percent growth year on year.

This was announced by the Ministry of Information technology and telecommunication through an official statement.

ICT export remittances, including telecommunication, computer and information services have surged to $2.123 billion (largest exporter in services sector and highest net exporter with $ 1.573 billion in net exports) at a growth rate of 47.43 percent during fiscal year 2020-21, in comparison to $1.440 billion during fiscal year 2019-20, the Ministry spokesperson added.

Federal Minister Information Technology and telecommunication Syed Amin ul Haque said that IT exports target of $5 billion would be achieved 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 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.

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.

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