Technology exports surge 80.6pc in August

ISLAMABAD: Pakistan’ technology exports have increased by 80.6 percent in August 2021 over the same month last year, the Ministry of Commerce said on Friday.

During the month under review, technology exports recorded at $224 million against $124 million in August 2020.

Similarly, the exports of information and communication technology increased 46 percent to $420 million in the two months of the current fiscal year, according to central bank figures. Last fiscal, the exports were $287 million.

During fiscal year 2020/21, Pakistan’s IT exports increased 47.4 percent, and crossed $2 billion mark for the first time in the country’s history, whereas, in fiscal year 2019/20, the exports were $1.44 billion.

The government has focused on technology and IT sector to boost the exports. For this purpose, different incentives are being offered to freelancers. The startups in Pakistan have also made remarkable progress during recent months.

According to the International Labour Organization Flagship Report 2021, Pakistan has been ranked as the 2nd largest supplier of online labour in software development and technology.

Federal Minister for IT and Telecommunication Syed Amin Ul Haque the other day inaugurated portal for online registration of freelancers at Pakistan Software Export Board (PSEB).

Minister said the Pakistani freelancers had fuelled the growth of the gig economy in the country. The growth of Pakistani freelancers would enhance the country’s export earnings.

He also said that the National Freelancing Facilitation Policy has been developed after significant consultation and was focused on accelerating and sustaining the development of the freelancer industry in Pakistan.

Freelancers would be allowed to open a special dollar account to receive payments for their individual IT exports.

The government has been working to introduce Special Technology Zones (STZs) all over the country to further boost the IT industry.

IT exports could jump to $4 billion in a year if the package for the IT and telecom sector announced by the government gets implemented, according to experts.

Last month, the government announced to establish a Rs10 billion fund for providing cash rewards to IT companies against their exports. The government is also set to offer a five percent rebate on these exports.

The higher growth in the country’s technology product and services exports was due to the coronavirus pandemic related rise in freelancing activities.

Telecommunications, computer and information services are the major items of services exports.