IT export payments, which include computer, telecommunications, and information services, reached a new high of $2.198 billion between July 2021 and April 2022, up 29 percent from $1.7 billion during the same period in FY 2020–21.
State Bank IT export data
According to the State Bank of Pakistan, data in April 2022 ICT export remittances rose to $249 million, up 29 percent, in comparison to $193 million recorded for April 20, 2021.
In contrast, ICT export remittances declined by 4 percent month-on-month scale in April 2022, they were $260 million on March 20, 2022.
Prime Minister Shehbaz Sharif has declared that Pakistan provides huge opportunities to invest in the sector of technology. The government plans to boost IT exports from $1.5 billion up to 15 billion over the next few years.
To achieve this goal, the premier stated that tech companies from abroad would be assisted in every aspect in terms of expansion, investment, and close cooperation.
The Ministry of Information Technology presented recommendations to the cabinet in the last session to boost exports of software. The cabinet directed that the ministry make recommendations to the Economic Coordination Committee and later again in the cabinet.
At the summit, PM Sharif declared that Pakistan was a great place for exports and investment in the IT sector, which had to be fully tapped.
The Federal Minister of IT and Telecommunication, Syed Aminul Haq, has instructed his PSEB to adopt every measure to meet the goal of IT export and remittances. He stated that in the vision of the Prime Minister “Digital Pakistan”, it is essential to move forward all issues that concern information technology and to connect young people, particularly students, to the world of technology.