IT Exports Remittances in Pakistan Surge 23.6% in July–March FY 2024-25

ISLAMABAD: IT exports remittances in Pakistan recorded strong growth during the first nine months (July–March) of the current fiscal year 2024–25, increasing by 23.6% year-on-year, according to official data.

Pakistan’s IT and IT-enabled Services (ITeS) exports remittances, which include computer services and call center services, surged to $2.825 billion during July–March FY 2024–25, compared to $2.284 billion in the same period of the previous fiscal year.

On a year-on-year (YoY) basis, IT exports remittances in Pakistan rose by 11.7% in March 2025, reaching $342 million, up from $306 million in March 2024. Month-on-month (MoM), the sector also showed strong momentum, with a 12.3% increase from $305 million in February 2025.

The IT sector hit a historic high in fiscal year 2023–24, with remittances reaching $3.223 billion, reflecting 24% growth over the $2.596 billion recorded in 2022–23.

While the government acknowledges that a significant share of IT export revenue remains unremitted, it has set an ambitious goal of raising total IT exports from $3.2 billion in FY24 to $4.2 billion in FY25.

Pakistan is currently home to 2.32 million freelancers, contributing around 15% of total IT exports, yet only 38,000 freelancers maintain active bank accounts. Although 500 new freelancer accounts are being opened weekly, according to SBP data, retaining these account holders and increasing onboarding remains a top priority.

To support the sector, the State Bank of Pakistan (SBP) has increased the foreign exchange retention limit to 50% or $5,000 per month—whichever is higher—up from the previous 35%. Banks have also been instructed to simplify the process for opening accounts in both PKR and foreign currency, benefiting freelancers and IT companies alike.