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Pakistan’s ICT exports surge to $2.198 billion

Pakistan’s Information and Communication Technology (ICT) exports surged to $2.198 billion during the first ten months of this year, according to a statement issued by the Ministry of Information Technology.

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Pakistan’s Information and Communication Technology (ICT) exports surged to $2.198 billion during the first ten months of this year, according to a statement issued by the Ministry of Information Technology.

It was a 29.29 per cent increase compared to $1.7bn over the corresponding period last year.

The ministry said the ICT exports, which include telecommunication, computer, and information services, are expected to see further growth in the coming months.

In April 2022 alone, the ICT export stood at $249 million at a growth rate of 29.02%, compared to the $193 million reported for April 2021.

Read more: Pakistan’s exports increased by 43%

However, compared to the export remittances of $260m during the previous month, export proceeds saw a decline of $11m in April.

The net exports during the July-April period of FY22 stood at $1.665bn. This is 75.75pc of the $2.198 billion in ICT exports. During the same period last year, the net exports were $1.274bn, which was 74.94pc of $1.7bn in ICT exports.

Taking to Twitter, journalist Malik Khurram Khan Dehwar said, “Economic policies of  Imran Khan’s team has resulted in an unmitigated revolution in the growth of Pakistan’s IT sector. From $831.9 million in 2019 to $2.2 billion in 2022. This is 264% growth in 3 years!”

Tribune reported that “In a meeting with Telenor executives on Thursday, Federal IT Minister Syed Aminul Haque emphasised that the telecom sector needed to upgrade its infrastructure to improve the quality of services.”

Read more: Govt to announce budget on June 10

“He said that the IT ministry was providing 90% to 95% subsidy for the provision of mobile and broadband services in the un-served and under-served areas, and telecom companies should now play their role in upgrading services in urban areas.”

It cited the minister as saying, “For the digitalisation process, it is essential to address public grievances and expand telecom networks.”