In a first, IT exports cross $1.5bn

ISLAMABAD: Pakistan’s Information Technology(IT) exports crossed $1.5 billion in the current financial year 2020-21 while it was recorded at $1.053 billion in the previous year. This shows an increase of 43% or $459 million in exports. 

invest with imarat

Islamabad’s emerging city centre

Learn More

According to details, the surge in exports is driven by e-commerce, BPO, software consultancy and telecommunications as dependency on technology during COVID-19 increased. 

During the pandemic, India was seriously affected which shifted the business towards Pakistan. Pakistan received long-term projects from clients in the USA, UK, EU, and the Middle East. Given that a quarter is left, Pakistani IT exports are expected to cross $2 billion. 

As per Barkan Saeed, Chairman Pakistan Software Houses Association for IT and ITes (P@SHA), the IT sector’s performance was commendable but there was still room for growth. The exports could further be increased from $2 billion to $3-3.5 billion in the following financial year if the government, software companies and various stakeholders developed a comprehensive action plan to minimise the impediments faced by the sector. 

 

For more news, visit Graana.com 

invest with imarat Islamabad’s emerging city
centre
Learn More
Scroll to Top
Scroll to Top