ICT Export Remittances Surge to $3.2b in FY 24

Staff Report

ISLAMABAD: The ICT services export remittances have surged to US$ 298 million in the month of June, 2024, an astounding increase of 32.44% in comparison to US$ 225 million in June 2023.

The ICT export remittances surged to US$ 3.223 billion during FY 2023-24 (July 2023 to June 2024) in comparison to US$ 2.596 billion reported during the last FY 2022-23.

Minister of State for IT and Telecommunication Shaza Fatima said that steps for increase in IT exports are underway. Microsoft Outage: Flights Halted, Business impacted due to widespread global IT breakdown

She said that this increase in IT exports is the direct result of Prime Minister Shabaz Sharif’s vision, his relentless efforts, and the priority given to the IT sector.

She said that IT exports are increasing owing to government’s initiatives for ease of doing business.

Shaza Fatima said with the robust support from Special Investment Facilitation Council (SIFC), Ministry of IT, Pakistan Software Export Board, and IT industry are committed to boost country’s IT exports.

ICT sector exports of US$ 3.223 billion are the highest among all Services (41.29% of total export of services) with ‘Other Business Services’ trailing at US$ 1.550 billion.