Karachi: The State Bank of Pakistan (SBP) has lifted restrictions on the import of several essential items required as raw materials and basic needs of exporters, news sources reported on December 28.
The SBP issued a circular on Tuesday (December 27) allowing authorised dealers (banks) to process requests for previously submitted import transactions with effect from January 2, 2023. As per the circular, the impot ban revoke decision was taken to provide relief and facilitate the economy, which has been severely impacted by the pandemic.
The circular allows imports of essential items such as:
The State Bank has also allowed imports on a deferred payment basis beyond 365 days from the shipment date. It has also encouraged banks to interact with their customers to handle requests, taking into account the customers’ risk profiles and the current situation of the foreign exchange market.
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