By Muhammad Asad Tahir Bhawana ISLAMABAD, May 23 (INP-WealthPK): The IT and telecom industry has attracted foreign direct investment (FDI) of $6.1 billion in the last three years from July 1, 2018 to March 30, 2022. ‘’In the last three years, revolutionary steps have been taken in Pakistan's information technology and telecom sector. Due to reforms in the telecom sector, the number of active mobile SIMs has reached 193 million by March 2022’,’ Syed Amin Ul Haque, Federal Minister for IT and Telecom, said in a statement. Amin said the IT ministry had many projects to develop the underdeveloped areas of Pakistan and this financial year, Rs29 billion was being spent on 28 more projects in remote and backward areas. Nine different optical fibre cable projects are under implementation in all the four provinces, he said, adding that a total of 4,746km cable was being laid at the cost of Rs13.14 billion. Under the Universal Service Fund, projects for provision of mobile networks on 1,929km long main highways have been completed, he continued. ‘’Moreover, the ministry has started a program named ‘Acceleration Program for Women Entrepreneurs’ through which nine businesswomen are sent to meet with investment companies in the United States. These nine women will represent Pakistan in the US. Besides visiting US-based incubators, these women will visit 9 Mile Labs, Kiwi Tech, Angel Pad, and Alchemist. Throughout the eight weeks, the participants will have multiple networking opportunities and pitch to US-based investors present on both the east and west coasts.’’ The IT minister said the telecom sector’s contribution to the national exchequer had risen rapidly. In 2021, he said, the sector's contribution to the national treasury increased by 129% due to $688 million deposits by the Cellular Mobile Operators (CMOs) under license and spectrum renewal fees and a substantial increase in General Sales Tax (GST) and Withholding Tax (WHT), which remained suspended on the directions of the supreme court last year. Similarly, the IT sector’s growth has also witnessed a rise in its contribution to national income. In the Economic Survey of 2020-2021, the IT and related services sector recorded a compound annual growth rate of 18.85%, the highest of any industry in the region. Further, microenterprises, independent consultants, and freelancers accounted for approximately $500 million in IT and ITeS exports, while annual domestic revenues were over $1 billion.