Pakistan’s IT sector continues to show remarkable resilience and growth, with exports reaching $286 million in July 2024. This represents a significant 34% increase compared to the same month last year, although there was a slight 4% decline from the previous month. The current export figure also exceeds the 12-month average of $269 million.
This impressive performance is attributed to a growing global client base, especially in the GCC region, and favorable regulatory changes, such as the State Bank of Pakistan’s decision to increase the retention limit for IT companies. Additionally, Pakistani IT firms have gained international recognition by participating in prominent events like London Tech Week 2024 and Collision Canada 2024.These achievements highlight the sector’s ability to thrive and expand on a global scale despite challenges, contributing positively to Pakistan’s economic development.
