Karachi April 23 2024: Pakistan’s Technology export remittances surged to historic record high of US$ 306 million in March 2024, marking an impressive increase of 36% compared to US$ 225 million in March 2023.
The share prices of Octopus, Supernet Limited, and Hallmark Company Limited all reached their upper limits at Pakistan Stock Exchange, experiencing gains of 7.5%, 8.33%, and 7.5% respectively. Meanwhile, Avanceon and System Limited saw increases of 1.15% and 1.78%, and NETSOL also rose by 1.68%.
Moreover, in comparison to the previous month of February 2024, ICT services export remittances have grown by US$ 49 million, reflecting a robust 19.1% growth in March 2024.
Country’s ICT export remittances have seen a remarkable increase, soaring by US$ 339 million (17.44%) to reach US$ 2.283 billion during July 2023 to March 2024 of FY2023-24, compared to US$ 1.944 billion reported for the same period last year.
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.
This collaborative effort has significantly enhanced IT & ITeS exports and bolstered confidence within the IT industry, said the Ministry of Information Technology and Telecommunication.
