ISLAMABAD: Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja said that the government aims to achieve USD 25.1 billion in ICT exports by 2030, including USD 15.3 billion from the IT and IT-enabled services and USD 9.8 billion from telecommunications.
In a written reply to questions in the National Assembly on Monday, she said that, to achieve these targets, the government has adopted a comprehensive strategy aimed at strengthening Pakistan’s digital economy, enhancing the competitiveness of the ICT sector, and expanding the country’s footprint in international markets.
The Minister said that ICT export remittances surged by 20.6 percent, reaching USD4.6 billion (4,600 million) during the Financial Year (FY) 2025-26 (July–June), compared to USD 3.8 billion (3,814 million) during the corresponding period last year (FY 2024-25). She said that ICT exports consistently remain the highest within Pakistan’s Services Sector and generate the largest trade surplus for the country within the Services Sector.
She said that the Pakistan Software Export Board maintains close contact with the State Bank of Pakistan to ensure maximum facilitation for the IT industry. She said that in this context, several interactive sessions and meetings were held with representatives from PSEB, SBP, banks, and the ICT industry. These efforts have resulted in the following:
(i) Banks have designated specific branches with specialized expertise in foreign exchange regulations.
(ii) Banks have established dedicated desks to support IT exporters and address operational or regulatory issues in a timely manner.
(iii) The Proceeds Realization Certificate (PRC) for the IT industry was updated by SBP. The PRC is provided by banks to demonstrate that a client has provided services abroad and successfully repatriated the foreign exchange earnings into Pakistan through formal banking channels.
(iv) The Digital Service Providers List has been revised and expanded. This revision allows Pakistani ICT companies to make international payments to a wider range of approved overseas digital service providers.
(v) A maximum turnaround time of one working day has been introduced for processing inward export receipts and outward remittances from Exporters’ Special Foreign Currency Accounts (ESFCAs).
(vi) IT companies and freelancers are no longer required to submit Form “R” for every individual export transaction. Instead, they will provide a one-time declaration specifying the nature of services being offered overseas at the time of opening a new account and, in the case of existing customers, as and when required.
(vii) The threshold for obtaining Form “R” has been increased to above USD25,000 (or its equivalent in other currencies), providing greater convenience to beneficiaries.
(viii) Documentation requirements for outward remittances from ESFCAs for acquiring services from abroad have been standardized by SBP to promote clarity and consistency across banks.
(ix) The Roshan Digital Accounts framework has been expanded to allow foreign nationals, companies, and institutional investors to open RDAs and invest in high-yield government securities and Naya Pakistan Certificates. These competitive returns encourage Pakistani IT exporters globally to remit their earnings back to Pakistan instead of holding them abroad.
(x) IT exporters can maintain 50 percent of their export remittances in foreign currency in Exporters’ Special Foreign Currency Accounts at local banks.
Copyright Business Recorder, 2026
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