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Pakistan records highest-ever IT exports at $4.6 billion
— Pakistan’s information technology industry has reached its greatest ever export earnings as IT exports hit a record $4.6 billion during the fiscal year, highlighting the sector’s rising contribution to the national economy.
According to the data of the Ministry of Information Technology and Telecommunication, IT exports grew by 21 percent over the last financial year and the sector had a trade surplus of 85 percent.
Drivers of Growth
The milestone was credited to the government’s industry-friendly policies, continuous support to the technology sector and specific focus of Prime Minister Shehbaz Sharif to build Pakistan’s digital economy, the ministry said.
The IT industry has become the country’s fastest growing export sector thanks to initiatives to improve its competitiveness and create new opportunities for technology companies, it added.
World growth
The government facilitated Pakistan’s participation at over 20 international technology shows over the past year, giving more than 250 Pakistani IT companies and startups the opportunity to present their goods and services to buyers and investors around the world.
The ministry said that representatives of the IT industry also accompanied the prime minister on official foreign visits, aiding enterprises in accessing new markets, attracting investments and reinforcing international commercial partnerships.
Skills and incentives
As part of efforts to improve the country’s digital workforce, the government has trained more than 100,000 young people with modern IT skills in the past year.
The government also continued to offer a series of advantages to IT exporters including the final tax regime and 0.25 percent tax facility on exports, moves which the ministry said have further boosted the sector’s competitiveness and export potential.
The Punjab government has decided to celebrate Basant next year with the traditional kite-flying event being held in February instead of January.
In this regard, Punjab Home Department and the district administration have prepared a draft plan for Basant in Lahore next year.
The festival has been rescheduled to February and the final date will be revealed after the consent of the provincial government, sources added.
Preparations will be mindful of last year’s experience and preparations. Permission for kite, string and other associated manufacturing operations is also likely to be given soon while laws and regulations governing kite flying will be completed before the festival.
Bahrain Foreign Minister Abdullatif bin Rashid Al Zayani called Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar last nite.
Foreign Minister Al Zayani thanked DPM Dar on signing of the Makkah Joint Defence Agreement between Pakistan, Saudi Arabia and Turkey. He also said he would visit Pakistan soon.
Dar appreciated Dr. Al Zayani’s interest to visit Pakistan and thanked him for his good sentiments.
He emphasised Pakistan’s strong commitment to promote dialogue and diplomacy to achieve peace and stability in the region and beyond.
US President Donald Trump said on Monday he will demand that Iran pay compensation for “all of the people that they have killed and gravely wounded,” in response to Iran seeking compensation for the damages it has incurred from US and Israeli attacks.
Trump’s social media post came after Iran said over the weekend it was nearing a deal with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the US must meet conditions including compensation and an end to sanctions and military threats, before the strategic waterway is reopened.
“It is an interesting idea because now I am likewise demanding compensation from Iran, for all of the people that they have killed and gravely wounded with their roadside bombs and many conflicts,” he wrote on Truth Social.
Trump also referenced and claimed compensation from Iran for the October 2000 deadly bombing of the US Navy guided-missile destroyer USS Cole at a Yemeni port.
The FBI has attributed that bombing, which killed 17 sailors and wounded more than three dozen others, to al Qaeda.
Trump added that Tehran should also pay compensation to the families of the thousands of people during anti-government protests in January, Iran’s worst domestic unrest since the era of its 1979 Islamic Revolution.
Rights groups say the Iranian government has continued to crack down on opponents during the war.
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