Shafaqna Pakistan: Pakistan’s information technology sector recorded its highest-ever export earnings during the fiscal year, with IT exports reaching a record $4.6 billion, underscoring the industry’s expanding role in the national economy.
According to the Ministry of Information Technology and Telecommunication, IT exports increased by 21 percent compared with the previous fiscal year. The sector also posted a trade surplus of 85 percent, reflecting sustained growth in exports and its rising contribution to Pakistan’s economic performance.
Growth drivers
The ministry attributed the milestone to the government’s industry-friendly policies, continued support for the technology sector and the special focus of Prime Minister Shehbaz Sharif on expanding Pakistan’s digital economy.
It said the IT industry has emerged as the country’s fastest-growing export sector, driven by measures aimed at improving competitiveness and creating new opportunities for technology companies.
Global expansion
During the past year, the government organised Pakistan’s participation in more than 20 international technology exhibitions, enabling over 250 Pakistani IT companies and startups to showcase their products and services to global buyers and investors.
The ministry added that representatives of the IT industry also accompanied the prime minister on official foreign visits, helping businesses gain access to new markets, attract investment and strengthen international commercial partnerships.
Skills and incentives
As part of efforts to develop the country’s digital workforce, the government provided training in modern IT skills to more than 100,000 young people over the past year.
The government also continued a range of incentives for IT exporters, including the final tax regime and a 0.25 percent tax facility on exports, measures the ministry said have further enhanced the sector’s competitiveness and export potential.
Source: Dunya News
