In a first, IT exports cross $1.5bn

ISLAMABAD: Pakistan’s Information Technology(IT) exports crossed $1.5 billion in the current financial year 2020-21 while it was recorded at $1.053 billion in the previous year. This shows an increase of 43% or $459 million in exports. 

According to details, the surge in exports is driven by e-commerce, BPO, software consultancy and telecommunications as dependency on technology during COVID-19 increased. 

During the pandemic, India was seriously affected which shifted the business towards Pakistan. Pakistan received long-term projects from clients in the USA, UK, EU, and the Middle East. Given that a quarter is left, Pakistani IT exports are expected to cross $2 billion. 

As per Barkan Saeed, Chairman Pakistan Software Houses Association for IT and ITes (P@SHA), the IT sector’s performance was commendable but there was still room for growth. The exports could further be increased from $2 billion to $3-3.5 billion in the following financial year if the government, software companies and various stakeholders developed a comprehensive action plan to minimise the impediments faced by the sector. 

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