Pakistan targeting $25bn in IT exports over next five years, says state minister

Pakistan's IT exports surged to $3.223 billion, and the government aims to increase this figure to $25 billion in the next five years, said Minister of State for Information Technology and Telecom Shaza Fatima Khwaja on Monday.

The IT minister stated this during the HBL-P@SHA ICT Awards 2024, hosted by the Pakistan Software Houses Association (P@SHA).

The country’s IT and IT-enabled services (ITeS) export remittances registered 24% growth to reach an all-time high of $3.223 billion in the fiscal year 2023-24 compared to $2.596 billion in fiscal year 2022-23, according to official data. 

The annual event, which promotes “Made in Pakistan,” recognises and honours companies for their exceptional service and innovation in the country’s IT sector.

Addressing the award ceremony, Khwaja extended her sincere thanks to P@SHA and HBL for organising this prestigious event and for their continued efforts to elevate the IT industry in Pakistan.

“These awards highlight the creativity and excellence of our software and service companies, providing local, regional, and international visibility," Khawaja said, adding, "They also empower our innovators, startups, and students to showcase their talents globally, including at the Asia-Pacific ICT Alliance (APICTA) Awards."

Notable attendees included officials from the Special Investment Facilitation Council (SIFC), government representatives, diplomats, top IT industry figures, startups, and prominent personalities.

Highlighting the role of P@SHA and the importance of the awards, the minister said that P@SHA plays an instrumental role in shaping Pakistan’s digital future, driving innovation and progress in the IT and telecom sectors.

She said that recognising and supporting the country’s software and service companies was critical for sustaining growth and positioning Pakistan on the global technology map.

“The HBL-P@SHA ICT Awards are vital in this mission, celebrating innovation and promoting MakeInPakistan.”

Moreover, she congratulated all the nominees and winners and said that their dedication and innovation are setting new standards in technology and inspiring future generations of leaders. 

“Together, we are building a brighter, more innovative future for Pakistan’s IT sector.”

The awards ceremony honoured the most innovative solutions in Pakistan’s IT industry, presenting 33 Gold Awards and 47 Merit Awards across various top-tier categories, including Consumer, Business Services, Inclusion & Community, and Student Innovation.

This year, P@SHA received an overwhelming response, with more than 1,198 applications for these esteemed awards. Over the course of 15 rigorous judging cycles, industry veterans served as judges to identify the best talent in the country.