Pakistan’s IT exports reached a record high of $3.8 billion in the financial year 2024-25. This marks an 18% increase compared to the previous year, when exports stood at $3.2 billion. The data was released by the State Bank of Pakistan (SBP), showing strong growth in IT and IT-enabled services. The IT sector became the third-largest source of foreign exchange after textiles and rice. It also made up 45% of total services exports.
Industry experts praised this progress. Muhammad Umair Nizam of P@SHA said consistent growth has supported the national economy. He also stated that IT exports helped stabilize the current account this year. However, he noted challenges such as delayed policies and global issues. Nizam added that P@SHA and government bodies are working together to boost IT exports further.
The government took steps to support exporters. Last year, IT companies were allowed to keep 50% of their earnings in forex accounts. Cash rewards were also introduced for top performers. Tax reporting issues were addressed as well. These steps encouraged more companies to export and invest in digital innovation.
Experts believe the future holds more potential. Mehwish Salman Ali said adopting new technologies like AI and cybersecurity can raise export profits. She also stressed the need for skilled professionals and partnerships with global companies. Khushnood Aftab from FPCCI urged the government to expand both markets and IT products. He suggested focusing on hardware exports like laptops and devices.
The government has now set even higher goals. It plans to reach $5 billion in IT exports by FY26. By FY29, the target is $10 billion under the Uraan Pakistan vision. These plans reflect growing confidence in Pakistan’s tech industry and its role in economic development.