Pakistan’s IT Exports are Expected to Reach $4 Billion in FY25: A Glimpse into the Future
A Record-Breaking Upcoming Year
With exports expected to reach $4 billion in the fiscal year 2024–2025, Pakistan’s information technology (IT) sector will soon surpass a major milestone. According to the Pakistan Software Houses Association (P@SHA), this represents an outstanding 25% year-over-year increase compared to the $3.2 billion from the previous fiscal year.
Growth-Driving Strategic Initiatives
This rising trajectory is a result of several important factors:
Initiative “Uraan Pakistan”: This ambitious program, which was introduced in December 2024, intends to increase IT exports to $10 billion by 2029. Enhancing digital infrastructure, encouraging innovation, and growing international collaborations are the main objectives of the plan.
Regulatory Reforms: The State Bank of Pakistan raised the retention limit in exporters’ specialized foreign currency accounts from 35% to 50%. This gave IT companies more financial freedom and encouraged them to spend and grow.
Freelancer Support: More than 2.3 million Set freelancers make a big difference in IT exports. Programs that make foreign payments easier and offer training are set to make this sector even more successful.
Growing Worldwide Presence
Pakistani IT companies are increasingly connecting with global markets, especially in the Gulf Cooperation Council (GCC) nations. Partnerships like the Leading Edge Advancement and Progress (LEAP) event in Saudi Arabia have created fresh opportunities for expansion.
Recommendations for Ongoing Growth in Policy
To maintain this progress, leaders in the industry encourage the government to:
Initiate a 10-Year Tax Exemption: Offering extended tax relief to IT firms can encourage investment and foster innovation.
Optimize Regulatory Procedures: Simplifying export processes and improving banking assistance will promote more efficient operations for IT exporters.
Create Specialized Technology Zones: Setting up specific IT hubs can promote teamwork and speed up technological progress.
