SBP Surges the Payment Limits for Freelancers

Payment Limits for Freelancers

For extending the scope of the business-to-customer transactions via the channel of home remittance, the SBP has increased the payment limits against the freelance services, as per the reports of local media.

As per the official notice issued by the State Bank of Pakistan, the computer information systems and other freelance services remittance quota are being surged from US$5,000 per individual per month to US$25,000 per individual per month.

The enhancement in limit would be facilitating the freelancers to route greater value of funds via a more economical and efficient channel of home remittances and help in getting the foreign exchange flows via the formal banking channels in the nation.

Also Read: Pakistan Ranks 4th Among Freelancer Markets

While the exports of services have been expanding in double digits, this enhancement of the limits for the freelancers should further be accelerating the growth in the Export of Services in the coming months.

Previously, in the day PM Khan while addressing a gathering in the federal capital under the banner of Digital Pakistan. He added that entrepreneurial activity is the way forward.

PM Khan has given assurance that the government would be supporting the provide platforms to the youth of Pakistan and would be releasing the full untapped potential of the youth of our nation.

More Read: PSL 2021 to Include New Cities

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