External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan It services / Thematic (Sector/Industry)

<ul><li>Pakistan recorded monthly IT exports of US$306mn, up by 37% YoY and by 19% MoM in Mar-2024. This is the highest ever export number in a single month with previous highest being US$303mn in Dec-2023. These monthly IT exports in Mar-2024 are higher than last 12-month average of US$238mn.</li><li>YoY jump in IT exports is due to (1) relaxation in the permissible retention limit by the State Bank of Pakistan (SBP), increasing it from 35% to 50% in the Exporters' Specialized Foreign Currency Accounts, and (2) stable PKR currency which encouraged IT companies to repatriate their foreign income and deposit it in local accounts.</li><li>To highlight, the reported IT export number indicates the amount remitted back to Pakistan by technology companies.</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$306mn, up by 37% YoY and by 19% MoM in Mar-2024. This is the highest ever export number in a single month with previous highest being US$303mn in Dec-2023. These monthly IT exports in Mar-2024 are higher than last 12-month average of US$238mn.YoY jump in IT exports is due to (1) relaxation in the permissible retention limit by the State Bank of Pakistan (SBP), increasing it from 35% to 50% in the Exporters' Specialized Foreign Currency Accounts, and (2) stable PKR currency which encouraged IT companies to repatriate their foreign income and deposit it in local accounts.To highlight, the reported IT export number indicates the amount remitted back to Pakistan by technology companies.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 - Highest ever monthly IT exports in Mar-2024; Exports up by 37% YoY to US$306mn