ISLAMABAD (Kashmir English): Pakistan’s IT industry achieved historic success during the fiscal year, taking exports to a record high of $4.6 billion, according to the Ministry of Information Technology and Telecom.
According to data released by the Ministry of Information Technology and Telecom, IT exports recorded a 21 percent increase compared to the previous fiscal year, while the sector’s trade surplus reached 85 percent, reflecting the continuous growth of the sector.
According to the ministry, IT has currently become Pakistan’s fastest growing export sector, in whose success the special attention of the Prime Minister, government patronage and industry-friendly policies have played a significant role.
The government has taken several steps to make the IT sector globally competitive and increase exports, which have yielded positive results.
According to the Ministry of Information Technology, over one lakh youth were trained in modern IT skills during the past one year to increase the skilled workforce and meet the needs of the global market.
In addition, Pakistan’s participation in more than 20 international technology exhibitions around the world was ensured, where more than 250 Pakistani IT companies and startups got the opportunity to present their products, software and services to global buyers and investors.
According to the ministry, IT industry representatives were also made part of government delegations in various foreign visits of the Prime Minister, which helped Pakistani companies access new global markets, foreign investment opportunities and establish international business linkages.
The government also introduced several incentives for IT exporters, including the continuation of the final tax regime, a 0.25 percent tax facility on export earnings and the implementation of business-friendly policies. The ministry says that these measures not only increased the competitiveness of the IT industry but also further strengthened its export potential.
The Ministry of Information Technology says that the government will continue to take steps in the future to promote the digital economy, further increase IT exports, improve the skills of youth, and make Pakistan a prominent technology hub in the region.
