The good trade numbers released by the State Bank of Pakistan (SBP) indicate that government policies have contributed significantly to the expansion of the Information Technology (IT) industry in Pakistan.
The amount of IT services exported in November increased by 11.66% year over year to $259 million from $233 million during the same month the previous year. This represents a significant growth in the industry. In November, exports increased by 8.82% on a monthly basis.
The Caretaker Minister of IT and Telecom, Dr. Umar Saif, expressed his happiness with these positive trade results. According to data from the State Bank of Pakistan, there was a $226 million net surplus in the trade of IT services in November, which is an increase above the $204 million recorded in October.
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A number of government programs have contributed to this expansion. Pakistan’s IT exports have benefited from the creation of the Special Investment Facilitation Council (SIFC) and fruitful trips to Qatar.
A commitment to further development is demonstrated by the government’s ambitious IT and ITeS Export Strategy, which aims to increase IT exports to $10 billion in the next three years.
Furthermore, the discussions for satellite internet in Pakistan with Starlink are almost finished. It is predicted that the National Space Policy, once approved by the Federal Cabinet, will enable private sector enterprises to offer reasonably priced internet services in Pakistan, opening up new avenues for connection and technological innovation.
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