KARACHI:
Pakistan's technology sector is being celebrated as a rare bright spot in a struggling economy, with officials touting rising IT exports as evidence of digital transformation. Yet beneath the fanfare, questions linger: is this truly the beginning of a sustained economic shift, or just another fleeting boom vulnerable to the country's chronic structural weaknesses?
According to the State Bank of Pakistan (SBP), IT and IT-enabled services (ITES) exports crossed $3.2 billion in FY2024, marking a year-on-year increase of over 20%. This growth places IT among the fastest-rising contributors to Pakistan's foreign exchange earnings, trailing only textiles and remittances. Government projections are even more optimistic, with targets of $5 billion by 2026.
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