Islamabad: According to press reports, Prime Minister’s Adviser on Commerce Razak Dawood revealed on Monday (October 25) that Pakistan’s Information Technology (IT)-related business grew by USD 635 million in the first quarter of this fiscal year (FY 2021-22).
According to the information provided, the IT and IT-related sector grew by 45 percent over the same period last year. Furthermore, revenue from IT&IT products increased to USD 635 million in the first quarter of FY-22 from July to September, compared to USD 445 million in FY-21.
Pakistan earned USD 2 billion last year, according to Advisor Dawood, and that figure will be surpassed this year. He attributed the increase in revenue to better rules and tax advantages for the IT industry. It’s worth remembering that Pakistan has given the IT sector a special status in order to boost growth. Several projects, including IT-Parks and Tech-Pura projects in Lahore, have been launched in this aim.