Pakistan witnessed significant economic improvements during the first seven months of the current fiscal year, according to the Ministry of Finance’s latest economic outlook report, reported by Express News.
Key Highlights:
- Remittances surged by 25.2% (July to January).
- Exports increased by 9.7%, while imports rose 16.8%.
- The current account surplus crossed $680 million during this period.
- Foreign exchange reserves held by the State Bank of Pakistan grew from $8 billion to over $11.2 billion.
- The Pakistani rupee remained stable.
- The Federal Board of Revenue (FBR) recorded 26.2% growth in tax collection, while non-tax revenue jumped by 82%.
- Fiscal deficit dropped by 36.1%.
- Inflation saw a sharp drop from 28.7% to 6.5%.
- Over 63,000 Pakistanis went abroad for employment in January 2025 alone.
IT Sector Targets $25 Million Exports to Qatar
Pakistan’s IT sector is now eyeing $25 million in IT and IT-enabled service exports to Qatar over the next few years.
This growth plan is being led by Pakistan Software Export Board (PSEB), the Ministry of IT and Telecommunication (MoITT), and the Special Investment Facilitation Council (SIFC), with a focus on expanding into traditional and emerging markets through innovative solutions.
As part of these efforts, a delegation of 10 leading IT firms (with over 30 representatives) is representing Pakistan at Web Summit Qatar 2025, a major global tech conference. The Pakistan Pavilion at the summit highlights the country’s growing tech and innovation capabilities.
Umair Nizam, Senior Vice Chairman of P@SHA, highlighted that Qatar’s IT market is now opening up for Pakistani companies, thanks to consistent efforts by SIFC, PSEB, and MoITT.
