IT export proceeds hit $635m in 1QFY22
22
ISLAMABAD: Pakistan’s exports of information technology grew by 42 per cent on a year-on-year basis in the first quarter of current fiscal year.
In absolute terms, the export proceeds of Pakistan’s IT & IT-enabled service reached $635 million from July to September this year against last year’s $445m.
“I congratulate all the stakeholders for their efforts and dedication,” Adviser on Commerce Razak Dawood said in a statement issued on Monday.
He further said that by seeing how IT sector is growing, “I am optimistic that we will cross the IT exports target for FY of 2021-22m,” he further said.
Pakistan’s exports of information technology grew by 47.4 per cent to cross the $2 billion mark for the first time in the country’s history in the FY21.
The government has offered several incentives in taxes and procedures in the budget 2021-22 to encourage IT exports, he said.
Published in Dawn, October 26th, 2021
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Oct 26, 2021 08:24am
Pakistan's very late entry to IT while neighboring India, China are much ahead. Hard to catch up with IT giants.
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Oct 26, 2021 08:25am
Unprecedented growth. Congrats Pakistan. Wins after wins.
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Oct 26, 2021 08:26am
Pakistanis just never give up. The sun is rising.
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Oct 26, 2021 08:41am
This industry will touch $10 billion,exports. Pakistan has immense talent in IT.
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Oct 26, 2021 08:42am
Indian software exports are 133.7 billion US dollars
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Oct 26, 2021 08:52am
@Venkata , Unfortunately Pakistan only had one undersea cable no backup due to corrupt Bhutto family decided to keep money in Swiss account; with full support of the western financial system.
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Oct 26, 2021 09:04am
Well done IT sector, aim higher and find new markets. You can touch $10 billion export within 2 years.
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Oct 26, 2021 09:05am
@Justice, Pakistan's very late entry to IT while neighboring India, China are much ahead. Hard to catch up with IT giants.
Still dont know pakistan! T20 and Afghanistan should have taught you something.
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Oct 26, 2021 09:07am
@Venkata , Indian software exports are 133.7 billion US dollars
Pakistan will reach that in 10 years under PTI government.
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Oct 26, 2021 09:12am
Very good news. Though in infancy stage compared with our neighbour but nothing is too late. We must try very very hard from now on.
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Oct 26, 2021 09:15am
Forget India, still too far behind Bangladesh as well.
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Oct 26, 2021 09:18am
These numbers are highly inflated estimates. They include salaries earned by Pakistanis in the US and Europe. This also includes revenues earned by Freelancers in Pakistan. When India computes its IT exports, both these are not included. Only actual revenues received by the country in hard currency is included.. If Pakistan only includes IT exports which reach the country in hard currency, it will not even add up to a billion dollars.
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Oct 26, 2021 09:46am
@Justice,
Late is a lot better than never. The takeoff is exponential, and haters have another reason to be dejected.
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Oct 26, 2021 09:53am
@Justice, its never too late sir
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Oct 26, 2021 09:54am
@Venkata , Good for India, we have our own path to tread
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Oct 26, 2021 09:59am
@Emad, how is this relevant?
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Oct 26, 2021 10:12am
You wrote that the government "has offered several incentives in taxes and procedures" in the recent budget. Care to elaborate? Because I know that a lengthy, difficult procedure has been imposed for claiming exemption. There are still taxes on computers, mobile phones, etc.
There is should be no taxes and duties or very minimum on import or sales of such equipment. Why give exemptions and protection to inefficient industries like auto and others but not to IT related?
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Oct 26, 2021 10:35am
So unfortunate, those companies keep most of their capital outside Pakistan
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Oct 26, 2021 10:56am
Thanks to the investments made by previous govt that we have IT professionals present govt is busy with afghanistan
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Oct 26, 2021 01:09pm
Don't look back, grab every opportunity, so the timing are ideal.
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Oct 27, 2021 02:59am
Need to hit 1B/quarter inshallah. We are very very late to the game but lots of potential.
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Oct 27, 2021 07:58am
Congratulations. Good start. IT assets are far more valuable and beneficial than Strategic Assets.
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