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ISLAMABAD: Pakistan has reaffirmed its vision to position Information Technology (IT) as a key driver of economic growth, setting ambitious export and investment targets and pursuing partnerships with emerging digital markets worldwide. The Pakistan Mission to the United Arab Emirates (UAE), in collaboration with the Ministry of Information Technology and Telecommunication, the Pakistan Software Export Board (PSEB), and the Trade Development Authority of Pakistan (TDAP), hosted a high-profile networking event titled &ldquo;Pakistan Night&rdquo; to promote Pakistan&rsquo;s digital potential and attract international investors. IT and Telecommunication Minister Shaza Fatima Khawaja, who served as the chief guest, reaffirmed the government&rsquo;s &ldquo;strong commitment to supporting the IT industry in key areas such as artificial intelligence, cybersecurity, software development, and data processing.&rdquo;&nbsp; She highlighted the success of programs like Ignite, which have enabled Pakistani startups to connect with global opportunities. &ldquo;Pakistan&rsquo;s digital economy is expanding rapidly, and we are committed to building an ecosystem that fosters innovation and international collaboration,&rdquo; the minister said. Pakistan&rsquo;s Ambassador to the UAE Faisal Niaz Tirmizi said the government aims to increase IT exports from the current $4 billion to $100 billion, driven by innovation, foreign investment, and strategic partnerships. &ldquo;Pakistan has immense digital potential and a growing base of skilled professionals. By engaging with emerging IT markets, we can transform this potential into global competitiveness,&rdquo; Tirmizi said. The event brought together senior diplomats, Emirati officials, and representatives from the Dubai Chamber of Commerce, business councils, and GITEX Global 2025 exhibitors. Rana Ihsan Afzal Khan, coordinator to the prime minister on commerce, described Pakistan&rsquo;s IT sector as &ldquo;the fastest-growing industry in the country,&rdquo; noting an average annual growth rate of around 20%. According to official data, Pakistan&rsquo;s IT sector currently contributes nearly 1% to national GDP, employs over 120,000 professionals, and comprises more than 12,000 companies. The sector has doubled in size over the past four years, with IT exports reaching $1.53 billion in the first five months of the current fiscal year. A 33% increase from the previous year. The government&rsquo;s broader digital strategy includes the &ldquo;Uraan Pakistan&rdquo; initiative, targeting $10 billion in IT exports by 2029, and a $10 billion partnership with South Korea to develop technology parks across the country. &ldquo;These initiatives are not just policy goals, they represent a roadmap to Pakistan&rsquo;s digital future,&rdquo; Khawaja said, lauding the efforts of Pakistan&rsquo;s diplomatic missions and industry leaders in promoting innovation-led growth.

Economy

In Dubai, Islamabad showcases its growing IT potential at the “Pakistan Night” event, where officials outlined plans to boost exports to $100 billion through innovation, global partnerships, and major investments in technology infrastructure.

Pakistan eyes $100 billion in IT exports through global partnerships

ISLAMABAD: Pakistan&rsquo;s remittance inflows surged by 27% to a historic $38.3 billion during the fiscal year 2024-25. The cost to handle these inflows through formal banking channels soared even faster, *Business Recorder* reported, citing official data.&nbsp;The country has witnessed a dramatic rise in remittances, which grew five times to $38.3 billion in 2025, up from $7.8 billion in 2009. Over the last 10 years, remittances have grown by 92%. In July 2025 alone, workers&rsquo; remittances rose 7.4% year-on-year, highlighting the continued reliance on overseas Pakistanis for foreign exchange earnings, which now exceed the country&rsquo;s export receipts.&nbsp;In FY24-25, remittances from Saudi Arabia, the UAE, the UK, and EU countries contributed significantly to the rise, positioning Pakistan as the world&rsquo;s fifth-largest recipient and the second-largest in South Asia.&nbsp;One of the primary reasons for the significant increase, according to the State Bank of Pakistan (SBP), is the introduction of attractive incentive payouts to banks and money transfer operators, aimed at reversing the previous decline in remittance volumes.&nbsp;Additional contributing factors include the reinstatement of the Saudi Arabia remittance corridor and a significant 60% depreciation of the rupee against the Saudi riyal &mdash; the currency used to calculate government rebates.&nbsp;Even though remittances are up, the cost of handling this money through the government&rsquo;s system, Pakistan Remittance Initiative (PRI), has also gone up a lot, the SBP data shows. In 2025, the cost reached Rs 124.14 billion, compared to Rs 72.95 billion in 2024, marking a sharp increase of 70%.&nbsp;The sharp increase in handling costs has raised concerns within government circles, prompting the Economic Coordination Committee (ECC) to rationalize incentives offered under the Transfer to Cash Incentive Scheme (TTCIS).&nbsp;To manage the fiscal burden, the ECC has approved changes to TTCIS, including a flat incentive rate of 20 Saudi riyals per transaction &mdash; down from a variable 20&ndash;30 riyals &mdash; and a higher minimum transaction size of USD 200, up from USD 100.&nbsp;Since its inception in 2009, the PRI has expanded its network to over 50 domestic financial institutions and around 400 international partners, facilitating a nearly fivefold increase in remittance inflows over the period.

Sharp rise in cost forces the Economic Coordination Committee to rationalize cash incentives offered to boost remittances

Articles tagged with "Pakistan exports"

Pakistan eyes $100 billion in IT exports through global partnerships

Pakistan’s inflow handling cost surges 70% amid record remittances

Pakistan eyes $100 billion in IT exports through global partnerships