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$257mn, up 32% YoY while down 3% MoM in Feb-2024. These monthly IT exports in Feb 2024 are higher than last 12-month average of US$233mn.</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>However, the decline in MoM IT exports is attributed to the fewer working days of 19 in Feb-2024 compared to 23 working days in Jan-2024.</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$257mn, up 32% YoY while down 3% MoM in Feb-2024. These monthly IT exports in Feb 2024 are higher than last 12-month average of US$233mn.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.However, the decline in MoM IT exports is attributed to the fewer working days of 19 in Feb-2024 compared to 23 working days in Jan-2024.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 - Pakistan IT exports up 32% YoY in Feb-2024; FY24 IT exports may cross US$3bn