Pakistan's service sector exports have recorded a 7.8% increase during the first five months of the current fiscal year, supported by the Special Investment Facilitation Council (SIFC), with the information technology sector emerging as a key driver of growth.
The country's IT sector has demonstrated particular resilience, contributing to a 13% reduction in imports during November, while expanding its digital services reach to 170 countries. This expansion has positioned Pakistan as the second-largest hub for freelancers globally.
Under the new Freelancer Framework, the government has streamlined banking procedures for digital professionals, setting an ambitious target of $15 billion in IT exports over the next five years. The initiative includes measures to simplify bank account opening processes for freelancers.
"The growth in IT exports signals a positive trend in the country's service sector," notes a recent economic report, highlighting the broader implications for Pakistan's overall trade performance. The SIFC's facilitation role has been instrumental in implementing these developments.
The government's strategic focus on digital exports has created new opportunities for Pakistan's growing tech workforce, with initiatives aimed at reducing barriers for international transactions and improving the ease of doing business for digital professionals.
