Export status has been granted to the foreign earnings remitted into Pakistan against consultancy services in hotel and tourism/tourism related services. The foreign earnings against such consultancy services would be treated as export proceeds and consultancy services qualify for export finance facility.
Actual Legal Text
Refinance facility under the Export Finance Scheme for Consultancy Services.
The Government of Pakistan has accorded “deemed export” status to the foreign earnings remitted into Pakistan against consultancy services in various service sectors of economy such as medical, pharmaceutical, engineering, accountancy, management, financial services, wholesale, distribution and retail trade, transportation, storage and communication, tele-communication services, educational services, real estate development, hotel and tourism/tourism related services, technical testing facilities and consultancy services etc. which are being rendered by various Pakistani enterprises by way of designing, solution providing, surveys, feasibility preparation, marketing and promotional activities including local market analysis, studies, product development, handling of / and transfer of technology assignments, warehousing, manufacturing and distribution etc. on behalf of their foreign principals. The foreign earnings against all such consultancy services would now henceforth be treated as export proceeds and all consultancy services mentioned above would qualify for export finance facility under Part I of Export Finance Scheme for a period not exceeding 180 days at the rates prescribed under the Scheme. The facility would be available on case by case basis to qualifying enterprises / companies.
BSD Circular No. 41 dated 30th October, 2001 of State Bank of Pakistan