In July 2021, Pakistan’s exports of IT remained strong with an increase of 20% compared to the export’s value of the same month of the last financial year. The State Bank of Pakistan (SBP) reports that the export of IT and IT-enabled services surged to $196 million in July 2021. Last year, the same month had exports worth $163 million.
The government announced an incentive package for the IT sector, including cash rewards, tax resolution, and profit repatriation. Thus, overseas marketing campaigns, special training programs, and the removal of withholding taxes will be relaxed. The introduction of this incentive package has been a long-standing demand by exporters in the IT sector. The government is looking for ways to expand exports during the upcoming fiscal year.