Shehbaz Sharif's ICT Initiatives Drive Record IT Exports

In April 2024, Pakistan witnessed a remarkable milestone in its Information and Communication Technology (ICT) sector as export remittances soared to US$ 310 million, marking a substantial 62.3% increase from the previous year's US$ 191 million. This surge, unprecedented in Pakistan's history, reflects a robust growth trend in IT exports, showcasing the country's potential in the global digital market.

The surge in ICT export remittances can be attributed to the government's strategic focus on enhancing IT exports, with Prime Minister Shehbaz Sharif's initiatives playing a pivotal role in driving this growth. Collaborative efforts from the Special Investment Facilitation Council (SIFC), the Ministry of IT, and the Pakistan Software Export Board have significantly contributed to the sector's success.

From July 2023 to April 2024, ICT export remittances totaled an impressive US$ 2.593 billion, surpassing the previous year's figures. This substantial growth underscores the ICT sector's importance in Pakistan's economy, with IT exports accounting for 40.25% of the total service exports, outperforming 'Other Business Services'.

The recent increase of US$ 4 million in ICT services export remittances from March to April 2024 further solidifies Pakistan's position as a key player in the global IT market. With a continuous focus on boosting IT exports, Pakistan is poised to capitalize on its technological capabilities and drive economic prosperity through the ICT sector.