The pin is staked in place.
The "trick" is to get the front sight in a well-braced, no-bounce set up.
Use hardwood blocks and a buddy to help hold it steady.
If the rifle moves or bounces at all, the force of the blow is dissipated, and you run the risk of deforming the pin and locking it tighter in place.
Another tip is to use a "starter punch". This is just a standard pin punch cut off to about a 1/2" working length.
The shorter punch won't bend or flex and will direct the force to the pin.
Once the pin is started moving, switch to a standard length punch to drive it all the way out.
The pin is usually removed from left to right.
Once the pin is out, the front sight must be slide forward off the barrel.
Use a hard wood block against the sight and tap it with a light hammer.
DO NOT just hammer against the top rear of the sight.
This may distort the band and cause it to lock tighter.
Under the sight is a key and a key way slot.
The key is staked into the slot and is removed by pulling it upward.
Note that some Carbine front sights are an EXTREMELY tight fit and may not want to come off or go on easily.
This is why Ordnance used special front sight pullers and installing tools.
One trick for installing super tight sights is top put the barrel and receiver in a freezer overnight, and warm the sight to about 300 degrees in an oven.
Work quickly before the barrel warms or the sight cools to press it on with a block of wood and light hammer.