“Under the revised policy exporters may invest up to 10% of average annual exports of last 3 years or $100,000, whichever is higher, to establish subsidiaries/branch offices abroad,” it added.
The State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to modernize foreign exchange regulations for facilitating startups, fintechs and exports in Pakistan.
In May 2019, four vessels - including two Saudi oil tankers - were attacked off the UAE coast near Fujairah, one of the world's largest bunkering hubs, just outside the Strait of Hormuz.
Calling the export enhancement a major pillar of his government's economic policy, the prime minister assured to provide full support for promotion of the export culture.