[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Pakistan’s IT sector has been accelerating monthly, reaching a record high of $310 million in April 2024—an all-time monthly peak. Previously, IT export receipts were $306 million in March 2024 and $303 million in December 2023.
Experts credit the growth to consistent policy measures by the Ministry of IT and Telecommunications (MoIT) and the Special Investment Facilitation Council (SIFC), which have facilitated and incentivized IT exporters.
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State Bank of Pakistan data reveals that IT and IT-enabled services exports surged to record highs throughout the financial year, reaching $2.593 billion from July to April 2023–24, up from $2.135 billion the previous year. This represents a $458 million increase, or 21% year-on-year.
Renowned IT exporter Dr. Noman Said noted that this growth reflects the confidence of IT exporters in government policies supporting sector development. Efforts by the Ministry of IT, Pakistan Software Export Board (PSEB), and IT industry associations, especially in the Gulf region, have significantly boosted IT exports.
Pakistan’s IT companies are expanding in both traditional and non-traditional markets, including the US, EU, and Gulf countries, which is expected to sustain IT export growth. Said also emphasized the importance of IT companies trusting government policies to pursue high-margin projects, potentially through joint ventures with local or foreign partners.
Tufail Ahmed Khan, president and CEO of the Pakistan Freelancers Association (PAFLA), highlighted the growing contribution of freelancers and remote workers to IT exports. He stressed the importance of commercial banks and regulatory bodies in facilitating freelancers to bring IT remittances through proper banking channels.
Various training and scholarship programs, including those from Google, are enabling thousands in Pakistan to join the IT sector. This not only creates job opportunities but also allows skilled IT workers to earn significantly through freelancing platforms.
With two months left in the financial year, IT and IT-enabled services exports are likely to exceed $3 billion for 2023–24.[/vc_column_text][/vc_column][/vc_row]
