Pakistan’s IT sector continues its impressive growth trajectory, achieving another milestone with a historic $310 million in exports recorded for April 2024—the highest monthly figure to date. This remarkable achievement follows previous records of $306 million in March 2024 and $303 million in December 2023.
The surge in exports is attributed to ongoing policy support from entities like the Ministry of IT and Telecommunications (MoIT) and the Special Investment Facilitation Council (SIFC), providing incentives and facilitation to IT exporters.
Data from the State Bank of Pakistan reveals a significant uptick in IT and IT-enabled services exports, reaching $2.593 billion from July to April 2023–24, marking a substantial 21% year-on-year increase compared to previous periods.
Dr. Noman Said, a prominent figure in the IT sector, credits government policies for fostering confidence among exporters, leading to collaborative efforts resulting in increased exports, particularly in the Gulf region. He anticipates sustained growth in IT exports, driven by expansion into both traditional and emerging markets like the US, EU, and Gulf countries.
Tufail Ahmed Khan, President and CEO of the Pakistan Freelancers Association (PAFLA), highlights the growing contribution of freelancers and remote workers to overall IT exports. He emphasizes the importance of banking support in facilitating IT remittances and empowering freelancers to utilize proper banking channels.
With initiatives such as training programs and scholarships from organizations like Google, Pakistan aims to nurture a skilled workforce, creating opportunities for employment and lucrative earnings in the IT sector. It is anticipated that IT and IT-enabled services exports will surpass the $3 billion mark by the end of the current financial year 2023–24.
