Payments against Digital Services Obtained made easier |
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Reform ID | F074 | |
Reform Description |
Before: Procedure for payment to foreign vendors against digital services obtained was lengthy and involved approval from SBP for each transaction above USD 100,000.
After: Now State Bank has allowed payment up to USD 400,000 to 62 white listed companies without obtaining approval from State Bank. |
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Sector | IT & ITeS | |
Beneficiaries | Exporters, IT firms, Banking & Financial Services Businesses | |
Jurisdiction/Location | Federal (Entire Pakistan) | |
Department | SBP | |
Date of Implementation | 13-08-2020 | |
Timeline | Last 01 Year | |
Details |
Difficulty |
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Analysis |
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Solution |
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Evidence |
FE Circular No. 04 dated August 13, 2020 (https://www.sbp.org.pk/epd/2020/FEC4.htm)
FE Circular No. 7 dated August 5, 2021 |
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