From July to March of FY22, remittances from IT exports like telecommunications, computers, and information services rose by 29.26 percent. That’s because more people were sending money back to Pakistan, where the IT industry is based.
The amount of money returned to the United States from IT exports was $259 million in March 2022, up 23.92 percent from the amount returned in March 2021.
There were also $58 more IT exports in March than there were in February 2022, which was $201 million.
This fiscal year, for the nine months that have passed, the net exports from the IT sector alone, excluding other services like call centers, have been $1.47 billion. This is 75.56 percent of the total $1.94 billion in ICT exports from the country.
There were more IT-only exports this fiscal year than in FY21. Last year, net exports were $1.12 billion, accounting for 74.72% of total exports of $1.50 billion.
Political uncertainty has made it less likely that the country will meet its goal of remitting Rs 3.5 billion through IT exports.
The figures were released, and after they were, the federal minister for IT and Telecommunications, Syed Aminul Haq, told the Pakistan Software Export Board (PSEB) to take one more step to reach the IT export goal.
The minister told Dawn that it was important to move forward on all parts of information technology and connect young people, especially students, to the digital world.
