Despite challenges like internet disruptions and firewall issues, Pakistan’s IT sector continues to thrive, with exports reaching $324 million in November—a 25% increase from the previous year, though slightly down by 2% compared to October. This marks the 14th consecutive month of year-on-year growth, reflecting the sector’s resilience.
With a total of $1.53 billion in IT exports over the first five months of FY25, up by 33% from the previous year, Pakistan’s IT industry is expanding its global reach, especially in the Gulf Cooperation Council (GCC) region. Key factors driving this growth include the State Bank of Pakistan’s relaxed foreign currency retention policies and the stability of the Pakistani Rupee, encouraging more repatriation of profits.
Although November saw a minor dip in exports due to fewer working days, the per-day export rate rose compared to October. Pakistan’s IT companies are actively participating in global events like the Oslo Innovation Week and Pak-US Tech Investment Conference, further enhancing their international presence. Recent regulatory changes, such as the new Equity Investment Abroad category, are expected to strengthen exporters’ confidence, paving the way for continued growth.
NEWS DESK
PRESS UPDATE