KARACHI: In order to broaden the scope of business to customer transactions through home remittance channel, the State Bank of Pakistan has enhanced payment limits against freelance services from US$ 1500 per individual per month to US$ 5000 per individual per month.

The enhancement is mainly aimed at further facilitating freelancers by allowing them to route their funds through the economical and efficient channel of home remittances rather than keeping their funds with various online money transfer companies.

It would also help in diverting foreign exchange flows from informal to formal channels.

Moreover, the transaction limit for pension receipts has been revised to US$ 2500 per individual per month.