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SBP to facilitate software exports

SBP to facilitate software exports

KARACHI: The State Bank of Pakistan has decided to facilitate software exporters by reviewing instructions related to the export of software and removing hurdles, a circular issued by the SBP said on Friday.

The State Bank regulates movement of foreign exchange to and from Pakistan under the powers conferred on it by the Foreign Exchange Regulation Act.

The instructions related to the exports of software are contained in F.E. Manual-2017. The instructions provide guidelines for registration of exporters with the concerned Area Office of the Foreign Exchange Operations Department, SBP-Banking Services Corporation and realisation and retention of the proceeds of such exports in foreign currency accounts.

“We would highly appreciate valuable suggestions/proposals in the above context within a fortnight. On receipt of proposals, a meeting would be called at the SBP to finalise the arrangements,” said the SBP.

Published in Dawn, June 3rd, 2017

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