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
Pakistan launches digital cash aid for low-income families during Ramadan, PM says
- Ramadan relief moves from state-run Utility Stores to targeted digital wallet transfers
- Government to transfer financial assistance through wallets to support sehri, iftar expenses
ISLAMABAD: Pakistan will provide financial assistance to low-income households through digital wallets during the fasting month of Ramadan, Prime Minister Shehbaz Sharif said on Thursday, announcing a government relief initiative aimed at helping families afford daily meals.
The support program comes as many Pakistanis continue to face elevated food and utility costs despite easing inflation, with Ramadan traditionally increasing household spending on staple foods, fruits and energy consumption.
For decades, government-run Utility Stores Corporation outlets were central to Ramadan relief in Pakistan, selling subsidized flour, sugar, ghee and pulses through special “Ramzan packages” that drew long queues in low-income neighborhoods. In recent years, however, authorities have steadily scaled back the system amid mounting losses, corruption complaints and logistical inefficiencies, shifting instead toward targeted cash transfers delivered through digital wallets and banking channels.
The change reflects a broader policy move away from state-managed commodity distribution toward direct financial assistance intended to give households flexibility while reducing leakages in subsidy programs.
“The Government of Pakistan has launched a Ramadan package under which financial assistance will be transferred to deserving individuals through digital wallets so that households can maintain sehri and iftar meals,” Sharif said in a message issued by his office.
The prime minister said Ramadan encourages compassion and collective responsibility toward vulnerable segments of society, adding that welfare support was part of the state’s duty during the holy month.
Officials say the digital cash transfers approach improves transparency and reduces corruption risks while enabling faster payments nationwide, particularly in urban low-income communities.
But the shift to fully digital assistance also brings challenges.
Access to smartphones and reliable mobile Internet remains uneven, particularly in rural areas and among older recipients, while many low-income households use SIM cards registered to someone else, complicating verification.
