KARACHI: Information and communication technology (ICT) export proceeds increased 32.65 percent to $1.487 billion in first seven months of this fiscal year from $1.121 billion in the same period of FY2021, attributable to demand and strong government incentives, latest number showed on Friday.
The ICT exports grew 14.2 percent to $185 million in January 2022 from $162 million in the same month last year, but were $66 million lower than December 2021.
“Perhaps it is the only industry where we export more and import less,” said ICT Expert Parvez Iftikhar and added, “The industry is showing signs of growth, and there’s huge potential for it to grow”.
The net exports in July-January FY2022 came in at $1.116 billion, which is 75.05 percent of $1.487 billion in exports. Last year, for the same period the net exports clocked in at $804 million which was 71.72 percent of $1.121 billion in exports.
Iftikhar said the government recently gave a package to fund and incentivise startups, IT enabled services (ITeS) such as accounts, software houses and freelancers, which would also help the ICT exports to increase.
However, he said the country needed to ensure high-speed internet penetration in the country to give boost the ICT exports.
Iftikhar said that there was a need to increase the penetration of fiber optic in the country. It would help ensure better quality internet for the companies and professional individuals.
He said that the government should improve 4G technology quality...
Read Full Story: https://www.thenews.com.pk/print/936812-ict-exports-zoom-32-65pc-to-1-48bn-in-seven-months
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