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Pakistan will surpass $3.5 billion IT exports target 'by next year'

10:33 PM | 20 Nov, 2021
Pakistan will surpass $3.5 billion IT exports target 'by next year'

ISLAMABAD – Pakistan aims at surpassing the $3.5 billion IT exports target by December 2022, said Federal Minister of Information Technology Syed Aminul Haq.

The statement comes as the country registered a 39.26% growth in IT exports amounting to $380 million during the first four months (July-October) of the fiscal year 2021-22 as compared to $586 million in the last year. 

“The net exports for the period July-October FY2021-22 are US$ 630 million which is 75.9% of US$830 million in exports. Last year, for the same period the net exports were US$ 423 million which was 70.97% of US$ 596 million in exports,” the IT ministry wrote on Twitter.

The ministry has offered various incentives to local companies in order achieve the export target. 

The government incentives to over 3,000 active information technology and information technology-enabled firms include 100 percent equity ownership along with repatriation of capital and dividends and income tax credit for exports until June 2025, Arab News reported. 

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Today Open Market Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Riyal - 25 May 2024

      
Pakistani currency rates against US Dollar and other currencies on May 25, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.15 for buying and 280.15 for selling.

Euro moved down to 297 for buying and 300 for selling while British Pound rate is 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.15 and Saudi Riyal came down to 73.35.

Today’s currency exchange rates in Pakistan - 25 May 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.15 280.15
Euro EUR 297 300
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.15 75.85
Saudi Riyal SAR 73.35 74.1
Australian Dollar AUD 183 184.8
Bahrain Dinar BHD 740.75 748.75
Canadian Dollar CAD 203 205
China Yuan CNY 38.47 38.87
Danish Krone DKK 40.52 40.92
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 907.57 916.57
Malaysian Ringgit MYR 59.39 59.99
New Zealand Dollar NZD 170.03 172.03
Norwegian Krone NOK 25.92 26.22
Omani Riyal OMR 723.64 731.64
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203 205
Swedish Korona SEK 26.02 26.32
Swiss Franc CHF 304.75 307.25
Thai Bhat THB 7.67 7.82

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