IT Exports Increase By 42 Percent In First Quarter Of 2021-22

IT exports increase by 42 percent in first quarter of 2021-22

The Information Technology (IT) related exports have witnessed a 42 per cent increase during first quarter (July-September) of the current Financial Year

ISLAMABAD, (UrduPoint / Pakistan Point News - 26th Oct, 2021 ) :The Information Technology (IT) related exports have witnessed a 42 per cent increase during first quarter (July-September) of the current Financial Year.

IT and IT-enabled service in the first quarter of FY 2201-22, exports increased to $635 million from July to September as compared to the exports of the last year, which stood at $445 million, showing an increase of 42 percent Year on Year growth" said an official of the IT.

During fiscal year 2020/21, Pakistan's IT exports increased 47.4 percent, and crossed $2 billion mark for the first time in the country's history, whereas, in fiscal year 2019/20, the exports were $1.44 billion.

Secretary Ministry of Information Technology and Telecommunication Dr Sohail Rajput in a tweet said, "We are proud that Pakistan IT industry is delivering high-quality products and services to over 120 countries, earning valuable foreign exchange, creating high-paying jobs, improving nation's productivity and quality of life through innovative technology solutions.

" The official said the government had focused on IT sector to boost the exports, adding for the purpose different incentives were being offered to freelancers. The startups in Pakistan have also made remarkable progress during recent months.

According to the International Labour Organization Flagship Report 2021, Pakistan has been ranked as the 2nd largest supplier of online labour in software development and technology.

To a question he said, the government had been working to introduce Special Technology Zones (STZs) all over the country to further boost the IT industry.