KARACHI: Aminul Haq, the Federal Minister for Information Technology and Telecommunications, has stated that Pakistan’s IT exports will exceed $3 billion this year, with a $5 billion target set for the following year.

He said an investment target of Rs600 million had been set for the IT sector, which had garnered $75 million in fiscal 2019-20, while speaking at the inauguration of a National Incubation Centre (NIC) here on Saturday evening.

Aminul Haq noted that IT exports were rapidly expanding, estimating that they were $1.4 billion in 2019-20 and will be higher in 2021-22.

He also stated that IT exports increased by 47.4% and that the $3 billion mark would be reached by June 30. He predicted that figure would reach $5 billion next year.