PBC said authorities should allow exporters to acquire tangible and intangible assets abroad for accelerating the growth of exports. The additional measures are aimed at boosting the country’s exports, which is a major challenge to the country’s economic managers. The State Bank of Pakistan (SBP) allows exporters to keep 10-35% of their export earnings in their foreign currency accounts. The central bank has offered the exporters to spend the retained money abroad on multiple counters compared to a few counters at present. Besides, the central bank is also considering allowing the use of retained funds on a couple of other counters abroad.

Source: The Express Tribune October 23, 2020 03:00 UTC