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 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.

#MOITT #ITExports #SyedAminulHaque

— Ministry of IT & Telecom (@MoitOfficial) November 19, 2021

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.