ISLAMABAD: ICT export remittances including telecommunication, computer and information services during the first nine months of the current fiscal year 2021-22 surged to $1.948 billion at a growth rate of 29.26 percent in comparison to $1.507 billion during the same period in the fiscal year 2020-21.

According to the Ministry of Information Technology and Telecommunication data, in March 2022, the ICT export remittances stood at $259 million at a growth rate of 23.92 percent when compared to $209 million reported for the month of March 2021. Also, $58 million is higher than export remittances of $ 201 million during the previous month of February 2022.

The net exports for the period July 2021 to March 2022 during the fiscal year 2021-22 are $1.472 billion which is 75.56 percent of $1.948 billion in exports.

Last year, for the same period the net exports were $1.126 billion which was 74.72 percent of US$ 1.507 billion in exports.

Jul 2021 to Jan 2022: ICT export remittances surge to $1.487bn

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

The Ministry of Information Technology and Telecommunication has set a target of $3.5 billion for the current fiscal year.

Copyright Business Recorder, 2022