IT boost

Pakistan’s IT exports surged by 17%, reaching $303 million in Dec 2023 as compared to $259 million in Nov

In a commendable achievement, Pakistan’s IT exports surged by 17%, reaching $303 million in December 2023 as compared to $259 million in November. This upward trajectory shows the potential of the country’s IT experts and freelancers, who continue to make significant strides in international markets. However, as the industry celebrates this milestone, light must be shed on the challenges and expectations facing Pakistan’s IT sector.

The increase in IT exports aligns with the government’s amplified focus on the industry and the growing consensus among analysts that Pakistan’s IT potential could propel annual exports to $10 billion within the next three years. This positive trajectory not only augurs well for the country’s economy but also positions Pakistan as a formidable player in the global IT arena. While the government lauds the achievement and envisions substantial growth, there is a nuanced perspective from independent companies within the industry who view this progress as “organic growth” and express dissatisfaction with the level of government assistance. The sentiment reflects a call for more substantial support to overcome the myriad challenges the IT sector faces. Among the industry’s pressing concerns are a talent shortage, infrastructural challenges, limited access to funding, regulatory hurdles and cybersecurity risks. One notable concern also raised is the international competitiveness of Pakistani IT professionals. The ease with which citizens from other countries can open bank accounts and establish credit history based on their passports is contrasted with the perceived limitations of the Pakistani passport.

In navigating these challenges, government support plays a pivotal role. While financial help is one aspect, creating an enabling environment is equally crucial. The industry should promulgate laws that are entrepreneur- and industry-friendly in order to facilitate growth.

Published in The Express Tribune, January 20^th, 2024.

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