Islamabad: The Special Investment Facilitation Council (SIFC) has bolstered a supportive business environment and regulatory facilities for the information technology and freelancing sector over the past three years, leading to significant economic benefits.

According to Radio Pakistan, SIFC’s efforts have included increasing the retention limit for funds in Exporters’ Specialized Foreign Currency Accounts from 35% to 50%, easing regulatory restrictions on foreign currency accounts, and issuing specialized debit cards to facilitate international payments. Additionally, a new banking framework for freelancers has been established, streamlining banking services and the account-opening process.

These initiatives have contributed to a marked increase in export earnings by Pakistani freelancers, who generated $959 million during the first ten months of the current fiscal year.