IT exports in Pakistan reached the highest level of 3 billion dollars.
State Bank has introduced a new dollar transfer policy for IT exporters. In the new policy, exporters will now be able to transfer 50% of capital from dollars to rupees.
According to sources in the Ministry of Information Technology, the stability of rupee value also proved encouraging for exporters, earlier exporters were restricted to exchange 65% of their profits.
Sources say that exporters transferred the capital to Pakistan instead of keeping it in foreign currency accounts, and tax exemption on the IT sector also became a major reason for the promotion of exports.
According to sources, the increase in the number of Pakistani companies in the Middle East, Saudi Arabia, North Africa, and Afghanistan has led to an increase in exports.
