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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