IT exports reach $635 million in the first quarter

Noor Haider
IT exports reach $635 million in first quarter
IT exports reach $635 million in first quarter

In the first quarter of FY22, Pakistan’s IT exports reached $635 million. Compared to $445 million last year, that’s an increase of 43%.

Tell me more: The exports crossed $2 billion for the first time in FY21, making history. This was an increase of 47.4% from $1.44 billion in FY20.

You should know: The government is focused on the IT sector to boost exports. A portal for the online registration of freelancers has been inaugurated.

The government announced a Rs. 10 billion fund in August for providing cash rewards to IT companies against their exports and offered a 5% rebate.

It is also offering several incentives in taxes and has been working to introduce Special Technology Zones (STZs) all over the country.

Before you go: According to this year’s International Labour Organization Flagship Report, Pakistan is ranked as the second-largest provider of online labor in software development and technology.

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