ISLAMABAD: Pakistan’s information technology (IT) exports rose by nearly $300 million in the month of June, the country’s state minister for IT said on Friday, amid a push for the growth of IT sector.
Pakistan is trying to navigate a prolonged economic crisis by actively pursuing foreign investments and enhanced trade opportunities, while it has also reached a staff-level agreement with the International Monetary Fund (IMF) for a $7 billion loan.
Pakistan has lately encouraged its IT sector and facilitated collaboration with a number of countries, including Saudi Arabia, China and Qatar, to boost IT exports in the South Asian nation of 241 million.
“Pakistan’s export remittance of ICT services increased by $298 million in June 2024,” State Minister for IT Shaza Fatima said in a statement. “IT exports have increased by 32.44 percent compared to June last year.”
From July 2023 to June 2024, Pakistan’s IT exports reached $3.223 billion, compared to $2.596 billion in the same period of the previous financial year, according to the minister.
Government measures are in progress to increase IT exports of the country.
“Thanks to the government’s ease-of-doing-business measures, our IT exports are increasing,” she said.
“The IT industry is striving to increase IT exports with the full support of SIFC (Special Investment Facilitation Council), IT ministry, Pakistan Software Export Board.”
Pakistan IT exports increased by nearly $300 million in June amid growth push
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Pakistan IT exports increased by nearly $300 million in June amid growth push
- Pakistan is trying to navigate a prolonged economic crisis by actively pursuing foreign investments and enhanced trade opportunities
- It has lately encouraged its IT sector and facilitated collaboration with a number of nations, including Saudi Arabia, China and Qatar
UAE President to make first official Pakistan visit today with Islamabad set for arrival
- Foreign office says talks will cover investment, energy cooperation and regional stability
- UAE is Pakistan’s third-largest trading partner and a key source of long-term investment
ISLAMABAD: Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, is scheduled to arrive in Pakistan today, Friday, for his first official visit since assuming office, with Islamabad adorned with Pakistani and Emirati flags to mark the occasion.
The visit, taking place at the invitation of Prime Minister Shehbaz Sharif, is aimed at reviewing bilateral ties and exploring ways to deepen cooperation in trade, investment, energy and development, according to Pakistan’s foreign office.
Ahead of the visit, Islamabad has been decked out with large billboards carrying images of the visiting UAE president alongside President Asif Ali Zardari and Prime Minister Sharif.
Rehearsals were also held a day earlier along roads leading to Constitution Avenue, the seat of the government, where groups dressed in traditional attire lined both sides of the route to welcome the visiting delegation.
“During the visit, His Highness will hold a meeting with the Prime Minister of Pakistan, where the two leaders will review the entire spectrum of bilateral relations and exchange views on regional and international issues of mutual interest,” the foreign office said in a statement announcing the UAE president’s planned arrival earlier this week.
“The visit will provide an important opportunity to further strengthen the longstanding brotherly relations between Pakistan and the United Arab Emirates,” it added.
The Islamabad administration has declared a public holiday in the capital, while the traffic police have rolled out an extensive plan to manage vehicular movement during the visit.
According to the state-run Associated Press of Pakistan, heavy traffic entering the city has been barred from 6 a.m. to 12:30 a.m., with several main arteries closed and alternative routes designated.
Pakistan considers the UAE one of its closest regional and economic partners. The Gulf state is Islamabad’s third-largest trading partner after China and the United States and remains a major source of foreign investment.
Over the past two decades, Emirati investment in Pakistan has exceeded $10 billion, according to the UAE’s foreign ministry.
Policymakers in Pakistan also consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
