External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Software / Thematic (Sector/Industry)

<ul><li>Pakistan recorded monthly IT exports of US$298mn, up by 33% YoY while declining by 10% MoM in Jun-2024. These monthly IT exports in Jun-2024 are higher than last 12-month average of US$262mn.</li><li>YoY jump in IT exports is due to (1) IT export companies growing in the GCC region especially Saudi Arabia, (2) relaxation in the permissible retention limit by the State Bank of Pakistan, increasing it from 35% to 50% in the Exporters' Specialized Foreign Currency Accounts, and (3) stability in PKR encouraging IT exporters to bring higher portion of profits back to Pakistan.</li><li>Pakistani IT companies are active in engaging with GCC clients. In Mar 2024 a delegation of 38 IT companies attended Leading Edge Advancement and Progress (LEAP) event in Saudi Arabia and in May 2024 Prime Minister and IT Minister of Pakistan attended UAE Pakistan Tech Collaboration in Abu Dhabi.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan recorded monthly IT exports of US$298mn, up by 33% YoY while declining by 10% MoM in Jun-2024. These monthly IT exports in Jun-2024 are higher than last 12-month average of US$262mn.YoY jump in IT exports is due to (1) IT export companies growing in the GCC region especially Saudi Arabia, (2) relaxation in the permissible retention limit by the State Bank of Pakistan, increasing it from 35% to 50% in the Exporters' Specialized Foreign Currency Accounts, and (3) stability in PKR encouraging IT exporters to bring higher portion of profits back to Pakistan.Pakistani IT companies are active in engaging with GCC clients. In Mar 2024 a delegation of 38 IT companies attended Leading Edge Advancement and Progress (LEAP) event in Saudi Arabia and in May 2024 Prime Minister and IT Minister of Pakistan attended UAE Pakistan Tech Collaboration in Abu Dhabi.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Technology - FY24 IT Exports up by 24% YoY to US$3.2bn; Exports in Jun-24 up by 33% YoY