Pakistan’s information technology exports have jumped by 19 per cent in the first five months of the current fiscal year, reaching $1.8 billion and indicating a potential to exceed the $5 billion mark.
This was informed by Pasban Democratic Party (PDP) Chairman Altaf Shakoor in a statement on Tuesday. Shakoor described the sharp increase in the IT sector’s foreign sales as a “welcome sign” for the national economy, highlighting a quarterly performance of $1.4 billion as a testament to the field”s immense potential.
He noted that Pakistan”s technology industry is a rapidly expanding and pivotal economic driver, characterised by strong export growth and a large pool of young, English-speaking talent. The country, he said, is being increasingly recognised globally as an affordable tech hub with particular strengths in freelancing, software development, and Business Process Outsourcing (BPO).
Despite challenges such as infrastructure deficits and inadequate funding for startups, the sector remains a focus area for government initiatives, Shakoor stated. He pointed to ambitious export targets and supportive policies, including tax holidays and provisions for foreign ownership, positioning the nation as a significant supplier of digital labour.
The PDP Chairman stressed that this momentum must be continued, asserting that a robust IT export sector is vital for national economic strength. He elaborated that it propels GDP growth through high-value, low-carbon services while generating crucial foreign exchange.
Furthermore, he remarked that the sector creates a large number of high-skilled jobs and fosters a culture of innovation by necessitating continuous technological advancement. This growth diversifies the economy away from volatile commodities, builds a global brand for ingenuity, and attracts significant foreign investment.
By deeply integrating the nation into the digital global economy, IT exports enhance resilience and ensure long-term, sustainable development, making them a cornerstone of modern economic strategy, Shakoor concluded.