ISLAMABAD, Jun 30 (ABC): Minister for Information Technology and Telecommunication Syed Amin-Ul-Haque here on Wednesday said that the Information Technology (IT) exports have surged at the growth rate of 25.45 percent in eleven months of the current financial year.
The minister in a statement said, “ICT export remittances, including telecommunication, computer and information services for the period July 2021 to May 2022 during Financial Year 2021-22 have surged to US $2.381 billion at a growth rate of 25.45 % in comparison to US $1.898 billion during the same period in FY 2020-21.”
The net exports for the period July 2021 to May 2022 during FY 2021-22 are US$ 1.809 billion which is 75.98% of US$ 2.381 billion in ICT exports. Last year, for the same period the net exports were US$ 1.425 billion which was 75.08% of US$ 1.898 billion in ICT exports, he added.
On the direction of the Prime Minister, the minister said, steps are being taken to take ICT exports to record levels, with the implementation of the tax relief announced by Finance Minister in federal budget for the IT industry.
However, Syed Amin Ul Haque was of the view that it is essential to provide relief to the Telecom sector for significant results from the IT sector. “If the imposition of taxes on the Telecom sector is not reduced, the IT sector will also be badly affected” he added.