Pakistan’s ICT Services Export Surges by 62.3%

Sat May 18 2024
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ISLAMABAD: The Information and Communication Technology (ICT) services export remittances of Pakistan surged to US$ 310 million in April this year, marking a staggering 62.3% surge compared to April 2023’s US$ 191 million.
Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, hailed this as a historic milestone for Pakistan’s IT sector. She emphasized that the government’s unwavering commitment to boosting IT exports led to this remarkable achievement.
During the period from July 2023 to April 2024, ICT export remittances totalled US$ 2.593 billion, a significant increase from the US$ 2.135 billion reported for the same period the previous year.
Shaza Fatima credited Prime Minister Shehbaz Sharif’s economic stewardship for averting a potential default during the previous government’s tenure, which laid the foundation for the current positive outcomes.
Highlighting ongoing efforts to further increase IT exports, Shaza Fatima underscored the critical role of the Special Investment Facilitation Council (SIFC), the Ministry of IT, and the Pakistan Software Export Board. She noted a US$ 4 million increase (1.31% growth) in ICT services export remittances from March to April 2024.
With ICT sector exports reaching US$ 2.593 billion, constituting 40.25% of total service exports, Pakistan’s IT industry stands as a pivotal contributor to the country’s economic growth.

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