IT-related exports will surge to five billion dollars, Prime Minister Imran Khan informed

In a high-level meeting on Information Technology Roadmap that Prime Minister Imran Khan was chairing, the premier was informed that since the government’s policies are heading in the right direction, IT-related exports will be brought to the level of five billion dollars by 2023, according to an announcement. Pakistan is already gearing up to cross the $2 billion mark with an unprecedented rise in IT exports, at a growth of 40% and is expected to reach the goal of $10 billion by 2030.

Prime Minister Imran Khan said that the government’s efforts are directed towards making Pakistan the leading IT exporter in the region. Imran Khan said the main purpose of establishing special technology zones is to facilitate companies’ information technology. He also expressed confidence that his government’s present policies ensure progress in the IT sector on a priority basis.

The IT exports, which include telecommunications and information services, shot up to a whopping $1.119 billion with a growth rate of 37.81% during a fiscal period spanning July-Jan 2021 to USD 812 million the same period last year.

If the current pace continues, the exports could reach $2 billion by the end of the year, paving Pakistan’s way to achieve a substantial milestone since it would be the highest in history. The unprecedented growth can be attributed to the government’s measures to bring about automation, new ways of offering digital services, and the boom of the gig economy to which millions of Pakistani’s are affiliated in the wake of the COVID-19 crises worldwide.

The Overseas Investors Chamber of Commerce and Industry (OICCI), in its annual report for 2020, highlighted the potential for Pakistan to enhance its IT-enabled services’ exports to $10 billion.