SIFC’s Effective Strategy Boosts Pakistan’s IT Exports by 24%

Islamabad: Thanks to the Special Investment Facilitation Council’s (SIFC) initiatives, Pakistan’s IT exports have witnessed significant growth due to improved access to global markets.

According to details, IT exports reached **\$354 million**, surpassing the 12-month average of **\$317 million**. Compared to July last year, IT exports recorded a **24% increase**, while showing a **5% improvement** over June.

The surge was mainly driven by growth in **computer services, software consultancy, and rising demand from Gulf countries**.

In a supportive move, the State Bank of Pakistan (SBP) raised the retention limit in exporters’ specialized foreign currency accounts from **35% to 50%**. Additionally, the **Equity Investment Abroad (EIA) scheme** introduced by SBP further strengthened exporters’ confidence, allowing IT exporters to use up to 50% of their export proceeds for foreign investments.

A survey conducted by the **Pakistan Software Houses Association (P\@SHA)** revealed that **62% of IT companies** in the country maintain specialized foreign currency accounts.

With SIFC’s facilitation, Pakistan’s IT industry is showing consistent growth, which experts believe is a strong indicator of a **promising economic future**.