IT exports surge to $324m

Despite internet crisis and firewall issues, Pakistan recorded monthly IT exports of $324 million, up by 25 per cent year-on-year while down by 2pc month-on-month in November. These monthly IT exports are higher than the last 12-month average of $295m. This is the 14th consecutive month of YoY IT export growth, starting from October 2023. As per the report of Top Line Securities, IT exports during 5MFY25 swelled by 33pc to $1.53bn. The report said that year on year jump in IT exports is due to IT export companies’ growing client base globally, especially in GCC region, relaxation in the permissible retention limit by the State Bank of Pakistan (SBP), increasing it from 35pc to 50pc in the Exporters’ Specialized Foreign Currency Accounts, and stability in Pak Rupee encouraging IT exporters to bring a higher portion of profits back to Pakistan.