IT exports surge to $332 million in May 2024 M Haris

In a remarkable growth, remittances from information and communication technology (ICT) services exports soared to $332 million in May 2024, marking a substantial increase of 40.7% compared to $236 million in May 2023.

Over the span of 11 months from July to May in the current fiscal year, ICT export earnings totaled $2.925 billion, surpassing the $2.371 billion reported during the same period last year.

Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, emphasized the government’s dedicated efforts towards enhancing the IT sector. She commended the Special Investment Facilitation Council (SIFC) and Pakistan Software Export Board (PSEB) for their role in fostering this growth.

Under the directives of Prime Minister Shehbaz Sharif, substantial initiatives are underway to further boost IT exports. The upcoming financial year’s budget reflects a significant increase in allocation for the IT sector, amounting to Rs20 billion dedicated to Digital Infrastructure Information projects.

The state minister expressed confidence that these measures will bolster Pakistan’s IT export capabilities, paving the way for sustained growth in the sector.