Karachi, Caretaker Minister for Information Technology and Telecommunication, Dr. Umar Saif, has acknowledged the effectiveness of the Special Investment Facilitation Council (SIFC) in enhancing Pakistan’s economic stability, specifically in the IT sector. He noted that the timely decisions made by the SIFC have significantly contributed to the potential increase of Pakistan’s annual IT exports to 10 billion dollars.

According to Ministry of Information and Broadcasting, Dr. Saif, in a video message, elaborated on the substantial policy intervention made last month by the IT ministry in collaboration with the SIFC and the State Bank. This policy allows IT companies to retain 50 percent of their export revenue in dollars within Pakistan, a move that has already led to a 14 percent jump in the country’s export revenue last month.

Expressing optimism about the future, Dr. Saif anticipated that at the current growth rate, Pakistan could surpass 3 billion dollars in IT exports in the upcoming months. He further stated that the country’s progress toward achieving 10 billion dollars in IT export revenue is likely to attract more foreign investment, marking a significant milestone in Pakistan’s journey in the global IT sector.