The Information Technology and IT- enabled services (ITeS) of Pakistan showed an exponential growth of 24 percent in export remittances and reached an all time high of $3.223 billion in the fiscal year 2023-24 as compared to $2.596 billion in 2022-23. These export remittances include computer services and overall call center services.
According to the official data, the ITeS exports decreased by around 11 percent on a Month on Month basis (MoM) in June 2024 and remained at 298 million dollars when compared to 332 million dollars in May 2024, whereas on an Year on Year (YoY) basis, a growth of 32 percent was recorded.
As stated by the Ministry of IT and Telecom, the said growth has been recorded as a result of valiant efforts of the ministry and Pakistan Software Export Board (PSEB) to reinstate confidence and belief in the progression of the IT industry. Several flaws have also been identified by the officials of the ministry including inconsistent policies, tax and banking hurdles which had been and are still negatively affecting the country’s IT sector exports.
The IT sector exports of Pakistan have been readily promoting along with a potent increase in the number of high paying job opportunities after several multinational companies have opened research and development facilities and support and service centers in Pakistan, some of which include Bentley, Ciklum, IBM, Mentor Graphics, S&P Global, Symantec, Teradata, and VMware.
