Pakistan's IT Exports Slow amid Political Uncertainty, Though Industry Size May Be Underestimated

ICT exports grew impressively from 2019-2022 under PTI government, but have slowed down since the political turmoil in 2022
Estimates suggest the actual size of the IT industry is around $7.5 billion, much higher than official export figures of $2.6 billion
An estimated $2.7 billion in IT export proceeds are parked abroad rather than remitted back to Pakistan
The private sector doesn't trust local currency or institutions to keep money in Pakistan
Taxation concerns and regulatory bottlenecks are likely reasons for not remitting funds back to Pakistan