Karachi November 18 2024: Pakistan’s Technology export remittances surged 38.6 percent to USD 330 million in October 2024 compared to USD 238 million in October 2023, according to data released by State Bank of Pakistan.
Country achieved historic growth in Technology exports despite slowdown in internet services.
“It is to inform to the general public that the ongoing internet slowdown and degradation of services across the country are due to fault in two of the seven international submarine cables connecting Pakistan internationally” states Pakistan Telecommunication Authority (PTA) in August.
“The AAE-1 cable has experienced a 250G outage due to rerouting between Iran and Qatar, similarly SMW 4 cable (1.5T) has been out of service due to faults near Karachi. Operators are re-routing traffic on other available cables to minimize the impact on internet users in Pakistan” the statement.
Moreover, in comparison to the previous month of September 2024, ICT services export remittances have increased by USD 38 million, reflecting a 13 percent growth in October 2024.
The Ministry of IT and Telecommunication, along with the Pakistan Software Export Board (PSEB) in close coordination with the Special Investment Facilitation Council (SIFC), has been instrumental in driving accelerated international business development and improving the ease of doing business environment.
During the current fiscal year, technology exports surged 35 percent from USD 894 million during July to October 2023 to USD 1,206 million during July to October 2024.
