State Bank of Pakistan further facilitates freelancers and pensioners
KARACHI: The State Bank of Pakistan on Wednesday announced to further facilitate freelancers and pensioners.
“In order to broaden the scope of business to customer transactions through home remittance channel, the central bank has enhanced payment limits against freelance services from 1500 US dollar per individual per month to 5000 US dollar per individual per month,” the SBP said in a press release.
It said the enhancement was mainly aimed at further facilitating freelancers by allowing them to route their funds through the economical and efficient channel of home remittances rather than keeping their funds with various online money transfer companies. “It would also help in diverting foreign exchange flows from informal to formal channels,” he said.
Moreover, the transaction limit for pension receipts had been revised to 2500 US dollar per individual per month, it added.
ECC approves to refund sales tax, technical supplementary grant to tune of Rs30b
The Economic Coordination Committee (ECC) on Wednesday approved to refund sales tax and technical supplementary grant to the tune of 30 billion rupees.
The approval was granted in ECC meeting in Islamabad with Finance Adviser Dr Abdul Hafeez Shaikh in the chair.
The meeting approved amendments in 18 laws and 25 legal procedures with the aim to simplify and facilitate investments in oil exploration and production. The amendments in the laws were proposed by Energy Task Force and other stakeholders.
ECC also approved renaming of zero rated export sector as export oriented sector, which comprises textile, carpet manufacturing, leather industry, sports and surgical goods.
Special Assistant to Prime Minister on Information and Broadcasting Firdous Ashiq Awan on Nov 23 had said the small medium enterprises (SME) sector would also be revived to promote industrial activity in the country as per the vision of the prime minister.
She had said the government was also moving towards e-governance to improve the system.