In the fiscal year 2021–2022 (FY22), exports of information technology (IT), which include telecommunication, computer, and information services, reached an all-time high of $2.616 billion, up 24 percent from $2.108 billion in the previous fiscal year.
Information and communication technology (ICT) export remittances totaled $235 million in June 2022, up 11% from the $210 million recorded in June 2021, according to official figures. Additionally, ICT export remittances increased by 28% month over month in June 2022 compared to $183 million in May 2022. Pakistan provides enormous prospects for investors in the technology sector, according to the prime minister Shehbaz Sharif, and the government plans to boost IT exports to $15 billion over the next several years.
The premier pledged to make it as easy as possible for foreign IT companies to invest, grow, and collaborate closely in order to meet this goal. Syed Amin ul Haque, the federal minister for information technology and telecommunications, has asserted that the policies of the Federal Board of Revenue and various SBP regulations are impeding the expansion of information technology (IT) exports.
