Daily Times

The State Bank of Pakistan (SBP) has announced measures to facilitate IT & IT-enabled services exporters in the country. The move aims to boost the export of IT services, which has seen steady growth in recent years.

According to the SBP, exporters of IT & IT-enabled services can now retain 35% of their export proceeds in their Special Foreign Currency Accounts (SFCA), making it easier for them to manage their finances. The bank has also introduced digital account opening and maintenance, making the process of opening and managing accounts more convenient and accessible for exporters. Furthermore, the SBP has promised swift resolution of complaints and access to nominated focal persons of banks, providing a channel for exporters to voice their concerns and seek assistance. In case their issues remain unresolved with banks or to share any suggestions, IT & IT-enabled services exporters can directly contact the SBP team facilitation.itexporters@sbp.org.pk.

The SBP’s move is expected to provide a boost to the country’s IT & IT-enabled services sector, which has become an increasingly important contributor to the country’s economy. The measures are aimed at making the process of exporting IT services easier and more streamlined, while also addressing the concerns and needs of exporters.