IT exports cross record $2bn mark

ISLAMABAD: 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 outgoing fiscal year.

In absolute terms, the IT exports reached $2.12bn in 2020-21 as against $1.44bn in the preceding year, according to data released by Commerce Ministry on Monday.

“I want to congratulate our IT exporters for crossing the $2bn export mark for the first time in our history,” Commerce Adviser Razak Dawood said in a statement on Monday.

Mr Dawood said he always believed in the abilities of IT professionals and entrepreneurs. “You have done a remarkable job and I encourage you to market your exports even further to achieve more”, the adviser further said.

The government has offered several incentives in taxes and procedures in the budget 2021-22 to encourage IT exports, he said.

Meanwhile, the commerce adviser briefed Prime Minister Imran Khan on the progress of bilateral cooperation and trade agreements after his visit to Uzbekistan and the prospects for positive results from investors.

An official announcement said that Mr Dawood also briefed the premier on the strategy for the forthcoming visit to the rest of the Central Asian states, particularly Tajikistan, and the implications for investment and trade.

He also briefed the prime minister on Board of Investment (BoI) meeting scheduled for this week and an expected session with various chambers of commerce this month.

PM Khan welcomed the strengthening of trade relations with the Central Asian states and stressed that Pakistan has the potential to provide sea access to the entire region, including these states.

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