Islamabad: Pakistan’s information technology sector is showing impressive momentum, with exports climbing to $354 million in July a figure notably higher than the 12-month average of $317 million.
Industry experts link this rise to a combination of factors: the Special Investment Facilitation Council’s (SIFC) policy measures, better access to global markets, and growing demand for services such as software consultancy and computer solutions, particularly in Gulf countries.
According to official data, exports in July were up 24 percent compared to the same month last year, and 5 percent higher than June’s total, reflecting steady month-on-month growth.
The State Bank of Pakistan has also played a key role in supporting IT exporters. Recently, the ceiling for specialized foreign currency accounts was raised from 35% to 50%, giving firms greater flexibility. Under the new “Equity Investment Abroad Scheme,” exporters are now allowed to allocate half of their foreign earnings for overseas investments, a step expected to further strengthen Pakistan’s footprint in international markets.
A survey by the Pakistan Software Houses Association revealed that 62 percent of IT companies already maintain specialized foreign accounts, suggesting the industry is ready to capitalize on these policy changes.
Analysts believe this surge is more than just a short-term boost. With continued backing from the SIFC and proactive policy measures, Pakistan’s IT sector is poised to become a stronger driver of economic growth in the coming years.
