The State Bank of Pakistan (SBP) recently announced changes in the Chapter 20 of Foreign Exchange Manual in order to facilitate startups, fintechs and exports.
Pakistan’s startup ecosystem is maturing, says a McKinsey’s report. 3G/4G connections in the country have increased four-fold over the last three years, which marks a high level of connectivity in the country. With a surge in teledensity in recent times and a promising younger population of the country, the environment seems only promising for startups. Another factor to consider is the increased purchasing power of Pakistan’s middle class population.