Karachi January 17 2025: Pakistan’s Technology export remittances surged 14.8 percent to USD 348 million in December 2024 compared to USD 303 million in December 2023, according to data released by State Bank of Pakistan.
This marks 15th consecutive increase in Technology exports despite slowdown in internet services.
Pakistan Telecommun-ication Authority (PTA) announced earlier this month that the issue of degraded internet services across the country has been resolved following the incorporation of a temporary bandwidth into the system.
“to address the issue of degradation of Internet services due to fault in AAE1 submarine cable on January 2, 2025 ad hoc bandwidth has been arranged and added in the system,” PTA said in a brief statement.
The PTA further reassured that it was actively overseeing the restoration efforts for the AAE-1 submarine cable and was committed to maintaining stable internet services during this period.
Moreover, in comparison to the previous month of November 2024, ICT services export remittances have increased by USD 45 million, reflecting a 12.2 percent growth in December 2024.
Minister of State for IT and Telecommunication Shaza Fatima Khawaja said steps are underway for increasing IT exports, adding that IT exports are increasing owing to initiatives for ease of doing business in the country. Shaza Fatima said on the directives of the Prime Minister of Pakistan and the full support of the Special Investment Facilitation Council (SIFC), Ministry of IT and Telecommunication, Pakistan Software Export Board and IT industry are committed to increase IT exports.
During the first half of current fiscal year, technology exports surged 28.0 percent from USD 1,456 million during July to December 2023 to USD 1,864 million during July to December 2024.
