Pakistan Exported $633 Million IT Services In Q1 of Fiscal Year 2022-23

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The IT services exports have declined by 0.3 percent during the first quarter of the current fiscal year 2022-23 and remained at $633 Million compared to $635 Million during the same period of the last fiscal year.  According to data made available by the Pakistan Bureau of Statistics (PBS), the export of computer services grew by 5.21 percent as it surged from $490 Million last fiscal year to $516 Million this year.

Among the computer services, the exports of software consultancy services witnessed an increase of 5.73 percent. The revenue increased from $176 Million to $186 Million while the exports of hardware consultancy services also increase by 10.27 percent from $0.837 Million to $0.923

Similarly, the exports of other computer services also show a significant increase of 1.38 percent. Meanwhile, the export of information services during the period under review decreased by 23.13 percent going down from $1.340 Million to $1.030 Million.

On the other hand, there is a 14.51 percent increase in the export and import of computer software-related services. It goes from $124 Million to $142 Million. On the other hand, the exports of repair and maintenance services decreased to $0.218 Million from $0.345 Million.

Moreover, the exports of news agency services decreased by 22.66 percent, from $0.962 Million to $0.744 Million. Unfortunately, the exports of other information services also decreased by 24.34 percent, from $0.378 Million to $0.286 Million.

The export of telecommunication services also witnessed a decrease of 18.94 percent as these went down from $142.720 Million to $115.690 Million.

Among the telecommunication services, the export of call center services increased by 21.20 percent during the period as its exports increased from $44.026 Million to $53.361 Million. The export of other telecommunication services decreased by 36.85 percent, from $89.694 Million to $62.329 Million during the period under review.

Federal Minister of Information Technology and Telecommunication Syed Aminul Haque has stated that the IT exports target of $5 billion would be achieved by June 2023. He further said that the government is taking all possible steps to ensure a long-term IT industry growth trajectory and enhance IT industry exports to $5 billion by 2023.

However, the Ministry of Information Technology and Telecommunication has warned the government that on account of the non-implementation of agreed incentives, lack of consistency in policies as well as the without resolving the tax and banks-related issues, the telecom sector exports remittances may suffer besides compromising its digital vision.

As described earlier, the ITeS exports declined by 0.3 percent during the first quarter of the current fiscal year 2022-23 and remained at $633 Million compared to $635 Million during the same period of the last fiscal year. The decline in the ITeS exports remittances rung the alarm bill and serious reservations were expressed among the concerned quarters.

Haque has raised the issues being faced by the sector in different meetings including the one held with the prime minister in the chair. Haque has said that the sector may face further decline if immediate attention were not paid. The minister has also stressed resolving the outstanding issues of taxation as well as related banks.

As much as the positivity and the aim are appreciable, the $5 Billion goal is far from being materialized and Haq might have to wait some more years to make it a $5 Billion industry.