SBP move to promote IT firms, exports
The State Bank of Pakistan (SBP) announced several facilities on Thursday to support the expansion of the IT business abroad and exports.
The government aims to increase IT exports to $25 billion by 2029. However, proceeds were estimated at around $3.2bn in FY24.
According to an SBP circular, the foreign exchange manual has been revised to further facilitate export-oriented companies, particularly those operating in the IT sector, in expanding their footprints abroad and increasing the country’s exports.
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