KARACHI: The State Bank of Pakistan (SBP) has capped remittances against royalties, franchise and technical services at $250,000 for new companies.

However, existing businesses with foreign collaborations will be allowed to remit up to eight per cent of their sales. In a circular issued on Dec 19, the SBP revised instructions for the remittance of royalty, franchise and technical service (RFT) fees for entities operating in agriculture, social, infrastructure and services sector projects, including international food chains.

The central bank........

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