KARACHI: Export proceeds generated by IT and IT-enabled services will likely touch $25 billion within five years, said technology mogul Veqar ul Islam while addressing a press briefing on Wednesday.

The chief executive of Jaffer Business Systems (Pvt) Ltd, one of the two oldest technology companies operating in the country, said IT-related exports will outstrip the current size of overall exports in a few years if the government maintains its focus on this sector.

A member of the prime minister’s task force on IT, Mr Islam praised the recent incentives that the government has extended to promote the technology sector.

IT and IT-enabled exports hovered around $1bn in 2018. Thanks to the government’s favourable policies, he said, the figure crossed $2.5bn last fiscal year.

The government wants to increase foreign earnings of the IT sector to $50bn in the next few years — a target that Mr Islam called “ambitious”.

Published in Dawn, March 3rd, 2022