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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