IT exports to cross 3 billion mark soon

Caretaker Federal Minister for Information and Technology, Dr Umar Saif informed in a video message that the information, technology and telecommunication exports of the country are expected to be increased crossing the three billion dollar mark within the next few months. He stated that the expected gain in the country’s exports in this sector has only been made possible because of the steps taken by Special Investment Facilitation Council (SIFC).

The minister told that IT companies have started to bring the dollars back home which has resulted in the company’s export revenue to jump by 14 percent in November which is a 20 percent increase Compared to last year. “We worked with the SIFC and the State Bank to make an important policy intervention last month, allowing IT companies to keep 50% of their export revenue in dollars in an account in Pakistan and make their international expenses without any restrictions from this amount.”

He showed hope in the system’s capacity to cross $3 billion with the way the market is going, which will also bring attention of foreign investors to invest in this highly capable market and will ultimately benefit the entire IT market for the country. He said that their journey towards the 10 billion dollars mark is being continued.