Pakistan’s IT Exports Rise 23.6% as Government Eases Remittance Rules for Freelancers

Usama AnjumLast Updated: Apr 17, 2025

Pakistan’s IT and IT-enabled Services (ITeS) exports have shown significant growth in the first nine months of the ongoing fiscal year 2024-25. According to official data, remittances from computer and call center services reached $2.825 billion during July to March, marking a 23.6 percent increase from $2.284 billion in the same period of the previous fiscal year.

In March 2025 alone, IT exports brought in $342 million. This reflects an 11.7 percent rise year-on-year from March 2024, when the figure stood at $306 million. On a month-on-month basis, March exports increased by 12.3 percent compared to February 2025’s $305 million.

The sector hit a record high of $3.223 billion in exports in FY 2023-24, a 24 percent jump from $2.596 billion in 2022-23. With this momentum, the government now aims to boost exports to $4.2 billion by the end of FY 2025.

However, officials have acknowledged that a significant portion of IT earnings is not being remitted through official banking channels. In response, the State Bank of Pakistan (SBP) has introduced several measures to encourage the inflow of remittances.

One major step is the increase in foreign exchange retention limits. IT companies and freelancers can now retain up to 50 percent of their earnings, or $5,000 per month, whichever is higher. This is an increase from the previous 35 percent limit.

In addition, commercial banks have been directed to simplify the process for opening both PKR and foreign currency accounts. This step is aimed at improving accessibility for freelancers and small IT firms.

Pakistan currently has around 2.32 million freelancers. They contribute about 15 percent of total IT exports. However, only 38,000 of them maintain bank accounts. While 500 new accounts are being opened every week, experts believe sustained support is required to retain these users and onboard more.

These policy changes are expected to boost remittance inflows and formalize the digital economy, offering long-term growth opportunities for Pakistan’s IT sector.