He said that remittances of IT services have reached 1.11 billion.
IT exports increased by 20.75% in FY 2019-20 as compared to FY 19-2018.
In the financial year 2018-19, remittances from IT exports stood at 17 917.875 million.
Under the Ministry of IT, remittances have been received through call centers and computer services. The Federal Minister said that all possible steps are being taken for the promotion of information technology. The significant increase in export remittances is a result of facilitating other sectors.
He said that till June 2025, there is zero income tax facility for IT and related services and 100% ownership rights and benefits for foreign investors.
In the first seven months of the last financial year, Pakistan’s imports of telecommunications, computers and information services rose 18.5 percent to 51 517 million.
The bulk of remittances came from software consultancy services, whose exports rose 12 percent to 159 million.
Exports of computer software, along with software consultancy, rose 8.17% to 129 million in the first seven months. That was 119 million during the same period last fiscal year.
In Pakistan, 5,000 IT companies are providing various services to more than 100 countries of the world. Every year, more than 10,000 new application developers and freelancers are entering the workforce in the field of Pakistan Information Communication Technology.