Tech Export in Pakistan increased In July-August 2021 reach 420 million dollars.

The information and technology exports sector is developing markedly, and during July and August of the current 2021-22 financial year, they climbed by 46 percent. Exports from the information and communications technology (ICT) business increased by $420 million in the first two months of the current fiscal year, relative to $287 million in the equivalent period of the previous fiscal year, according to figures issued by the State Bank of Pakistan.

According to the International Trade Statistics Agency, they were estimated that the ICT sector exported $224 million in August 2021 and $196 million in July 2021.

According to industry participants, the current administration has announced several incentives to encourage the ICT industry to increase its exports of various services. However, industry leaders disagreed, believing that the announced incentives should be implemented entirely, both literally and figuratively. In addition, several industry participants expressed concern that the ICT industry's potential, which they believe may reach $250 million and even higher, had not yet been fully explored.

The government should move fast to put in place benefits for instant results in exports, which would create a decisive victory for both IT exporters and the country as a whole due to the resulting infusion of foreign currency.

During the previous fiscal year, it set a new record for exports, breaking a previously established benchmark of $2 billion for the first time. These are the best exports in the service industry.

Following the emergence of the pandemic, an increase in exports has been noted in the two years following the epidemic. In contrast, Pakistan's information and communications technology (ICT) industries got substantial orders from export markets as the demand for automation and technology expanded fast in industrialized countries.