AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, Pakistan’s Information and Communication Technology (ICT) sector has achieved a record-breaking milestone, with export remittances reaching $310 million in April 2024. This represents a significant 62.3% increase compared to the $191 million recorded in April 2023, highlighting rapid growth in the country’s IT industry.
According to Press Information Department, Minister of State for IT and Telecommunication Shaza Fatima Khawaja announced these figures, emphasizing the unprecedented growth in IT exports over the past month. The total ICT export remittances for the fiscal year from July 2023 to April 2024 have now reached $2.593 billion, up from $2.135 billion during the same period last year.
Minister Khawaja attributed this success to the focused efforts of Prime Minister Shehbaz Sharif’s administration, which she credited with stabilizing the economy and averting a potential default. The government, through initiatives like the Special Investment Facilitation Council (SIFC) and active collaboration with the Pakistan Software Export Board, continues to prioritize and foster growth in IT exports.
The increase in ICT exports, which now constitute 40.25% of Pakistan’s total services exports, positions the sector as a central pillar in the nation’s economic framework. Further efforts are underway to sustain and enhance this growth trajectory in the coming months.