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ISLAMABAD: Pakistan&#39;s technology sector generated nearly half the country&#39;s total services exports in five months, outpacing all other industries with a $1.583 billion trade surplus, government figures showed Wednesday. According to the Ministry of Information Technology and Telecommunication, information and communications technology export remittances reached $1.799 billion from July through November. This is an 18.5% increase from the same period last year. The sector exported $356 million in November alone, the ministry said, approaching October&#39;s record of $386 million. The increase comes as Pakistan maintains zero income tax on IT and IT-enabled services exports through June 2025, according to the Ministry of Finance. Freelancers earning up to $12,000 annually are also exempt. The State Bank of Pakistan said record ICT exports and strong worker remittances have improved the country&#39;s balance of payments and current account balance. The central bank increased foreign currency retention limits for exporters from 35% to 50% while simplifying foreign currency account processes. Meanwhile, the Pakistan Software Export Board is establishing 250 e-Rozgaar centers by fiscal 2027 to support jobs and freelancing. The government is also building Software Technology Parks and National Incubation Centers for startups. Officials have set a $5 billion IT export target for the fiscal year ending in June 2026. The ICT industry consistently delivers the highest trade surplus among Pakistan&#39;s service sectors, accounting for nearly half of total services exports, ministry data showed.

Economy

Information and communications technology export remittances reached $1.799 billion from July through November, an 18.5% increase from the same period last year.

Articles tagged with "it exports"

Pakistan tech exports hit $1.8B, surpass all services

Pakistan tech exports hit $1.8B, surpass all services