IT exports soar, AI triggers job cuts
Pakistan's information technology industry has just posted its strongest year on record. It has also started shedding people faster than at any point in its recent history. Both statements are true, and that is the paradox now hanging over the country's most celebrated export story. State Bank of Pakistan (SBP) data show IT and IT-enabled services receipts climbed to $4.6 billion in fiscal year 2025-26, up about 21% from $3.814 billion a year earlier. The sector is now the largest services export category, accounting for close to half of all services earnings. It still missed the government's $5 billion target by roughly $400 million. The longer-term Uraan Pakistan goal remains $10 billion by FY2028-29.