Telecommunication, computer, and information services export earnings increased by 29.29 percent to $2.19 billion in July-April 2021-22, compared to $1.7 billion the previous year.
Despite a better performance in the previous fiscal year, the IT and telecom sector is less likely to meet its $3.5 billion export objective by the end of June.
The Economic Survey 2021-22, which was released on Thursday, noted that the Ministry of IT and Telecom, as well as all of its subordinate departments, had improved their performance and that the industry was a substantial source of money for the national exchequer.
In terms of taxes, regulatory fees, initial and annual license fees, activation tax, and other taxes, the telecom sector provided roughly Rs. 163.3 billion to the national exchequer from July 2021 to March.
To combat escalating cybercrime, the Personal Data Protection Bill was approved during this time.
In the period July-February 2021-22, foreign and domestic investments in the telecom sector totaled $930.1 million, and the total number of mobile and fixed-line subscribers reached 194.2 million, a net increase of 6.7 million customers over the same period last year.
To read our blog on “FBR Chief says IT industry will soon get good news in upcoming budget,” click here.