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Pakistan’s IT exports increase by 51% in Nov, 2020: MOC - Inside Financial Markets

Pakistan’s IT exports increase by 51% in Nov 2020: MOC

– Associated Press of Pakistan

The Ministry of Commerce on Wednesday informed that Pakistan’s Information Technology (IT) and IT-related services exports have witnessed an increase of 51% in the month of November 2020, as compared to the corresponding month of last fiscal year.

Pakistan’s IT-exports increased by 38.9% during the period July to November of 2020-21 on a year-on-year basis, said a press release issued by Ministry of Commerce here.

This was informed during a consultative meeting of the Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood.

For promotion of the IT sector exports, Ministry of Commerce is actively engaging in a dialogue with the stakeholders of the IT sector. According to press release, Pakistan is the new destination for startups venture capital as youth are engaged in entrepreneurship and geared to find innovative solutions.

Growth in domestic market will further ramp up exports in the coming quarters.

As a testimony of this policy, the British American Tobacco (BAT) is going to set up its Business Shared Services organization hub—the BAT “Global Business Services” for Asia Pacific and Middle East Region in Pakistan.

This will serve as a talent incubator and will give boost to Pakistani IT exports.

Business Shared Services are a specialized form of Business Process Outsourcing (BPO).

He was informed that the National E-Commerce Council (NeCC) has held three meeting so far to ensure enabling environment for e-Commerce. During NeCC meetings, challenges faced by the private sector are discussed with all the relevant government institutions with regular follow up.

Syed Zaki Hussain

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