Pakistan’s IT Exports Set to Smash $4 Billion Mark

Pakistan’s IT and IT-enabled services (ITeS) sector is heading for a historic milestone, with exports projected to cross $4 billion in FY2024-25. According to ProPakistani, in just the first eight months, IT exports have already hit $2.2 billion, showing a strong 17% year-on-year growth.

Major players like Systems Limited, led by CEO Asif Peer, are at the forefront of this boom. Their strategic expansions, particularly in the Gulf Cooperation Council (GCC) markets, have played a crucial role. Organizations such as the Pakistan Software Export Board (PSEB) and the Ministry of IT and Telecommunication are also actively pushing the momentum forward.

Freelancers, who contribute around $400 million annually, continue to bolster the industry’s growth. Meanwhile, the State Bank of Pakistan (SBP) has introduced policies like allowing IT exporters to retain 50% of their earnings in foreign currency accounts, further encouraging companies to bring earnings back to Pakistan.

Reports from The News, Business Recorder, and Dawn highlight how collaborations between government bodies and private companies are driving Pakistan’s IT sector towards unprecedented global recognition.