Export earnings from Information Technology (IT) and IT-enabled Services (ITeS) in Pakistan fell by about 0.6% in FY23, totaling $2.605 billion as opposed to FY21-22’s $2.619 billion.
Official records show that in June 2023, the sector’s export remittances were $236 million, which is the same amount as in June 2022. The export sector’s remittances were consistent month over month, at $236 million, compared to May 2023’s exports of $236 million.
There was a 47.43 percent increase in IT and ITeS export remittances to $2.619 billion in FY22 from FY21’s $2.108 billion. This includes remittances for telecommunication, computer, and information services.
The Ministry of Information and Communications Technology had hoped that by June 2023, they will have exported $5 billion worth of information technology.
However, it had also cautioned the government that the telecom sector’s export remittances may suffer if agreed incentives weren’t implemented, policy inconsistencies weren’t addressed, and problems with taxes and banks weren’t resolved.
