IT exports of Pakistan reaches all-time high of $306mn

Islamabad: The efforts of the Special Investment Facilitation Council (SIFC) have led to a record increase in IT exports.

Pakistan's IT exports rose to a record high of $306 million in March 2024. IT exports totaled $2.28 billion in the first nine months of 2024, a year-on-year increase of 17 percent.

IT exports at the beginning of fiscal year 2024 were $2.28 billion, which increased by $275 million during March 2024, which is 37 percent.

The IT and Telecom sector is one of the key sectors covered by the Special Investment Facilitation Council (SIFC). This growth in the IT sector is attributed to the concerted efforts of the SIFC.

The efforts of the SIFC have given significant incentives in this sector which include increased dollar holdings by the State Bank of Pakistan (SBP), among other measures to improve the investment climate.

According to the forecast of the Ministry of Finance, IT exports will increase to 3.5 billion dollars during the fiscal year 2024.