ISLAMABAD: The export proceeds from Information and Communication Technology (ICT) services surged 40.7 per cent to $332 million in May from $236m recorded in the same month last year. Year-on-year, IT exports also rose 7pc in May.

Meanwhile, the overall export proceeds grew 23.1pc to $2.92 billion during July-May 2023-24 compared to $2.371bn in the corresponding period last year.

In a statement, Minister of State for IT and Telecomm­unication Shaza Fatima Khawaja attributed the increase to the government’s focus on the development of the IT sector.

She added that the decision of the Special Investment Facili­tation Council (SIFC) and Pakistan Software Export Board (PSEB) to increase IT exports is laudable because it facilitates the IT sector’s payments from the country.

Ms Khawaja highlighted that the prime minister has supported the robust steps for increasing IT exports.

She said that a hefty increase is proposed in the budget 2024-25 to promote the IT sector and its exports.

Among the measures is the allocation of Rs20bn for Digital Infrastructure Information projects in 2024-25.

The trade surplus of this sector was $2.57bn during July-May 2023-24, an increase of 22.31 compared to $2.102bn in the same period last year.

Published in Dawn, June 23rd, 2024