Islamabad: Significant policy and financial reforms have been introduced with the support of the Special Investment Facilitation Council (SIFC) to promote Pakistan’s digital economy and IT exports, providing a major boost to the freelancing and technology sectors.
Over the past three years, SIFC-led initiatives have helped create a more business-friendly environment and improved regulatory facilitation for IT companies and freelancers.
50% Increase in Foreign Currency Retention Limit
With SIFC’s support, the retention limit for funds in specialized foreign currency accounts of IT exporters has been increased from 35% to 50%.
This measure gives IT exporters greater flexibility and autonomy in utilizing their foreign exchange earnings. In addition, the easing of regulatory restrictions on foreign currency accounts and the issuance of dedicated debit cards have simplified international transactions, reducing costs and saving time for Pakistani companies operating in global markets.
New Banking Framework for Freelancers
For the first time in Pakistan’s history, a dedicated banking framework has been introduced for freelancers.
Under the new system, access to banking services and account-opening procedures has been made significantly easier and faster, enabling freelancers—including those in remote areas and outside the formal economy—to become part of the banking system with greater convenience.
“These landmark SIFC initiatives have not only paved the way for higher IT exports but are also helping increase foreign exchange inflows into the country.”
Freelancers’ Earnings Exceed $959 Million in FY2026
The positive impact of these reforms is reflected in the latest figures. During the first ten months of fiscal year 2026, Pakistani freelancers generated export earnings of $959 million, highlighting the growing importance of the IT sector as a key contributor to Pakistan’s economy and foreign exchange reserves.