{"id":71623,"date":"2020-10-23T12:57:05","date_gmt":"2020-10-23T07:57:05","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=71623"},"modified":"2020-10-23T12:57:10","modified_gmt":"2020-10-23T07:57:10","slug":"sbp-introduce-measures-facilitate-exporters-boost-exports","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-introduce-measures-facilitate-exporters-boost-exports.html","title":{"rendered":"SBP to introduce measures to facilitate exporters, boost exports"},"content":{"rendered":"\n<p>Lahore: The State Bank of Pakistan (SBP) has announced its decision to introduce measures under which local exports will be able to start joint ventures, acquire warehouses, and invest in subsidiaries through funds in their foreign currency accounts \u2013 a news source reported on October 23.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP allows resident tax filers to deposit foreign currency in local accounts<\/a><\/p>\n\n\n\n<p>At present, the SBP allows exporters to retain 10%-35% of their total export earnings in their foreign currency accounts. Now the central bank intends to allow exporters to spend their funds in other financial avenues.<\/p>\n\n\n\n<p>In addition to using the funds for joint ventures, acquisition of warehouses and investment in subsidiaries, exporters will also be able utilise the funds towards payment of fee\/expenses relating to advertisement, promotion, marketing and brand building abroad through a third-party agent or through a company\u2019s own subsidiary\/ liaison\/ marketing office abroad.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/sbp-announces-mechanism-incentivise-penalise-mortgage-financing.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP announces mechanism to incentivise, penalise mortgage financing<\/a><\/p>\n\n\n\n<p>They may also utilise it as subscription fee for participation in foreign exhibitions, fairs and e-commerce platforms for promotion\/marketing of company\u2019s products,; payment of foreign consultant\u2019s fee for obtaining services from abroad; refund of payment to foreign tourists on account of cancellation of their intended tours to Pakistan, for which they remitted advance payments to tour operators\/organisers in Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The State Bank of Pakistan (SBP) has announced its decision to introduce measures under which local exports will be able to start joint ventures, acquire warehouses, and invest in subsidiaries through funds in their foreign currency accounts \u2013 a news source reported on October 23. Read: SBP allows resident tax filers to deposit foreign currency in local accounts At present, the SBP allows exporters to retain 10%-35% of their total export earnings in their foreign currency accounts. Now the central bank intends to allow exporters to spend their funds in other financial avenues. In addition to using the funds for joint ventures, acquisition of warehouses and investment in subsidiaries, exporters will also be able utilise the funds towards payment of fee\/expenses relating to advertisement, promotion, marketing and brand building abroad through a third-party agent or through a company\u2019s own subsidiary\/ liaison\/ marketing office abroad. Read: SBP announces mechanism to incentivise, penalise mortgage financing They may also utilise it as subscription fee for participation in foreign exhibitions, fairs and e-commerce platforms for promotion\/marketing of company\u2019s products,; payment of foreign consultant\u2019s fee for obtaining services from abroad; refund of payment to foreign tourists on account of cancellation of their intended tours&hellip;<\/p>\n","protected":false},"author":57,"featured_media":64432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[41900,41899,21853],"persona":[],"class_list":{"0":"post-71623","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-boost-exports","9":"tag-sbp-to-introduce-measures-to-facilitate-exporters","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP to introduce measures to facilitate exporters, boost exports - Zameen News<\/title>\n<meta name=\"description\" content=\"Lahore: The State Bank of Pakistan (SBP) has announced its decision to introduce measures under which local exports will be able to start joint ventures, acquire warehouses, and invest in subsidiaries through funds in their foreign currency accounts \u2013 a news source reported on October 23.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-introduce-measures-facilitate-exporters-boost-exports.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP to introduce measures to facilitate exporters, boost exports - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Lahore: The State Bank of Pakistan (SBP) has announced its decision to introduce measures under which local exports will be able to start joint ventures, acquire warehouses, and invest in subsidiaries through funds in their foreign currency accounts \u2013 a news source reported on October 23.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-introduce-measures-facilitate-exporters-boost-exports.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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