Pakistan aims at IT exports worth $25 billion in next three years

Prime Minister Shehbaz Sharif on Friday expressed his government's determination to achieve the target of $25 billion in IT exports during the next three years.

The prime minister said the government is working to develop and promote the telecommunication sector and said steps are being taken to introduce 5G internet services for faster and reliable internet services in the country.

Radio Pakistan quoted Sharif as talking with a five-member delegation of the Holland-based VEON group, led by chairman Augie K Fabela, that the 5G services would also help the government realise its vision of Digital Pakistan.

Describing the role of the telecom sector as very important in promoting cashless and digital economy, the Prime Minister expressed Pakistan's willingness to work with VEON group for promotion of Information Technology, digitisation and artificial intelligence.

Pakistan has been trying to maximize its potential in the IT sector and its Information Technology (IT) exports soared to $3.2 billion in the fiscal year 2024, marking a robust 24 per cent year-on-year increase from the previous fiscal's $2.59 billion.

Sharif did not elaborate on how the target of $25 billion will be achieved in three years.

The members of the delegation appreciated the government's efforts towards achieving economic stability and said that Pakistan had become an important investment destination for the IT and telecom sectors, Radio Pakistan said.