ISLAMABAD: Ministry of Information Technology and Telecommunication said on Wednesday that Pakistan’s IT exports reached to $286 million in the first month of the current fiscal year.
The officials said that the IT sector expanded rapidly in recent years, accounting for 46% of the total exports in July 2024 alone. The increase in IT exports is mainly due to the increase in the special foreign currency account limits for exporters from thirty five percent to fifty percent and the stabilization of the Pakistani rupee.
Other factors include a staggering rise in export remittances owing to a robust demand for Pakistani IT services and an increasing number of IT companies securing contracts at global level. Revenues of the IT sector are likely to exceed $3.5 billion during the current fiscal year, said Minister of State for Information Technology and Telecommunication, Shaza Fatima.
Ambitious initiatives such as the development of IT parks, tax incentives for tech start-ups, and implementation of training programs, aim at enhancing the skills of IT professionals and help the Federal Government reach their target for the fiscal year 2024.
