Pakistan’s IT Exports Increase By 11% in November 2023

Pakistan’s IT sector is experiencing a renaissance, with exports surging 11% in November 2023 compared to the same month last year. This strong momentum comes on the heels of a challenging year, where overall ICT exports saw a slight dip. However, the focus on IT and IT-enabled services (ITeS) is paying off, with remittances growing 6% year-on-year in the first five months of the current fiscal year.

This growth is driven by robust performance in computer services and call centers, showcasing Pakistan’s growing expertise and competitiveness in these areas. In November alone, ITeS remittances jumped 9% compared to October, demonstrating sustained upward momentum.

Must Read: Pakistan’s Digital Transformation Landscape: A Road Map for Progress

The government’s recent launch of the first-ever IT and ITeS export strategy further fuels optimism. This ambitious plan aims to triple Pakistan’s IT exports to $10 billion within three years, recognizing the sector’s immense potential. The strategy outlines key initiatives like expanding the skilled workforce, attracting foreign investment, and removing financial hurdles for IT companies.

Caretaker Federal Minister for Information Technology and Telecommunications Dr. Umar Saif, unveiling the strategy, highlighted the potential to reach even higher, upwards of $12-15 billion. He emphasized the crucial role of adding skilled workers, dollar retention for IT companies, and establishing a dedicated startup fund in achieving this ambitious goal.

Pakistan’s IT sector is undoubtedly on the rise. With a supportive government, strong fundamentals, and ambitious plans, the country is poised to become a major player in the global IT landscape. The next few years are likely to be marked by continued growth and success, solidifying Pakistan’s position as a leading IT and ITeS hub.

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