Over the next five years, the government wants to raise IT exports to $15 billion. The government’s and the Special Investment Facilitation Council’s (SIFC) key sectors for economic growth include this project.
The State Bank of Pakistan updated its “Foreign Exchange Manual” to better support IT companies’ global footprint in order to accomplish this goal. Important alterations consist of:
- Raising the 35% to 50% profit repatriation cap for IT exporters.
- Permitting regional IT firms to set up several offices overseas.
The goal of these changes is to establish a conducive atmosphere for the international growth and advancement of the IT industry.
The IT industry has already made great strides, increasing its export percentage from 4% to 8% between 2019 and 2024.
