ISLAMABAD: IT export remittances in Pakistan have seen a remarkable rise of 33.54%, totaling US$ 876 million during the initial three months of FY 2024-25 (July to September), compared to US$ 656 million in the corresponding period of the previous year (FY 2023-24).

The Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, stated that remittances from ICT services exports reached US$ 292 million in September 2024, marking a 41.7% increase from US$ 206 million in September 2023.New Election System in Uzbekistan:creation of platforms for the emergence of new public politicians

She mentioned that measures are being implemented to boost IT exports, noting that the growth in IT exports is a result of initiatives aimed at enhancing the business environment in the country.

Shaza Fatima added that under the guidance of the Prime Minister of Pakistan and with the complete support of the Special Investment Facilitation Council (SIFC), the Ministry of IT and Telecommunication, Pakistan Software Export Board, and the IT industry are dedicated to elevating IT exports.

The IT & ITeS sector achieved a trade surplus of US$ 764 million, which accounts for 87.21% of total ICT export remittances during the first three months of FY 2024-25. This surplus reflects a 36.67% increase from US$ 559 million in the same timeframe last year.

In contrast, the overall services sector recorded a trade deficit of US$ 699 million during this period. The US$ 656 million in ICT export remittances from July to September 2024 is the highest among all service sectors, with “other business services” trailing at US$ 374 million. This strong performance highlights the increasing importance of the ICT sector in Pakistan’s economic framework.