Sector Thrives Despite Internet Challenges
Pakistan’s Information Technology (IT) sector has reported its highest-ever monthly exports, reaching $348 million in December 2024. This figure represents a 15% year-on-year increase, underscoring the industry’s resilience amid intermittent internet connectivity issues.
Highlights:
- Consistent Growth: December 2024 marked the 15th consecutive month of year-on-year IT export growth, beginning from October 2023.
- First Half of FY25: In the first half of the fiscal year 2024-25, IT exports totaled $1.86 billion, reflecting a 28% increase compared to the same period in the previous year.
Contributing Factors:
- Government Initiatives: Supportive policies and incentives have played a crucial role in fostering the growth of the IT sector.
- Skilled Workforce: Pakistan’s pool of talented IT professionals continues to drive innovation and service delivery, attracting international clients.
Challenges:
Despite the impressive growth, the sector faces challenges, including:
- Internet Connectivity: Intermittent and slow internet speeds have posed obstacles, highlighting the need for infrastructure improvements.
- Global Competition: Maintaining competitive pricing and quality in the face of global competition remains essential for sustained growth.