IT Exports Surges To Stunning $310 Mln In April

IT exports surges to stunning $310 mln in April

ISLAMABAD, (UrduPoint / Pakistan Point News - 18th May, 2024) The ICT services export remittances surged to US$ 310 million in the month of April, 2024, an astounding increase of 62.3% in comparison to US$ 191 million in April 2023.

Minister of State for IT and Telecommunication Shaza Fatima Khawaja in a statement said that it is for the first time in the history of Pakistan that IT exports saw this outstanding increase just in one month.

ICT export remittances have surged to US$ 2.593 billion during July 2023 to April 2024 of FY2023-24 in comparison to US$ 2.135 billion reported for the same period last year.

Shaza Fatima said that the government has first priority to increase IT exports of the country, adding that this record increase in IT exports is due to relentless efforts of the Prime Minister of Pakistan.

She said that Prime Minister Shehbaz Sharif prevented the country from default in last PDM government and stabilised the economy and its positive outcomes are now coming.

She said that steps are underway for increasing IT exports.

With the robust support from Special Investment Facilitation Council (SIFC), Ministry of IT and Pakistan Software Export board are actively working to boost IT exports, she said.

In comparison to previous month of March 2024, ICT services export remittances have increased by US$ 4 million (1.31% growth) in April 2024.

ICT sector exports of US$ 2.593 billion are the highest among all Services (40.25% of total export of services) with 'Other business Services' trailing at US$ 1.308 billion.