Exports of goods and services in Pakistan are declining. Total exports of goods and services from July to February were 19 19.875 billion.
According to the SBP, total exports of goods and services stood at. 20.254 billion in the same period last fiscal. During this period, the gap between exports and imports of goods and services increased from 15 15.466 billion to 17 17.421 billion. In this situation, an increase in exports is inevitable.
In this regard, IT exports and IT services can play an important role. In the first eight months of the current financial year, the export volume of ET products and services stood at 29 1.298 billion. The government has set a target of برآمد 5 billion for IT exports for the current financial year. The government also announced an action plan to achieve this goal. Now is the time to speed up the implementation of this action plan. In this regard, the country needs to move towards high value-added activities and raise the standard of medium to low quality services.
This cannot happen unless the tax issue on IT and IT Dependent Services (ITeS) is resolved. Entrepreneurs in this sector should have the freedom to invest and the current barriers to marketing of IT products and ITES should not be removed. To this end, effective coordination between the various stakeholders, including the federal and provincial governments and their agencies, is essential. According to the GSMA report, between 2010 and 2019, the investment of private IT sector companies in Pakistan was 23%, which was lower than other countries in the region.
According to the report, between 2019 and 2025, 67 67 billion will be spent on mobile networks in South Asia. In Pakistan, only 5.2% (3.5 3.5 billion) of this amount will be spent. Phone operators need to be encouraged to invest more to expand their business. IT and ITES exports cannot grow without increasing investment in the mobile phone industry.