LAHORE MIRROR ( Monitoring Desk) — The State Bank of Pakistan (SBP) has decided to withdraw the restrictions placed on imports with effect from January 2, 2023, according to a circular addressed to the presidents and chief executives of all authorised dealers in foreign exchange on Tuesday.
“Attention of the Authorised Dealers (ADs) is invited to EPD Circular letter No. 9 of May 20, 2022 and Circular letter No. 11 of July 5, 2022 wherein ADs were required to seek prior permission from Foreign Exchange Operations Department SBP-BSC before initiating any import transaction pertaining to HS Code Chapter 84, 85 and certain items of Chapter 87,” it said.
“It has now been decided to withdraw the above instructions with effect from January 2, 2023. Consequently, requests for import transactions already submitted to SBP-BSC pertaining to above referred HS Codes stand returned to the ADs for appropriate disposal at their end.”
However, the central bank added that ADs may prioritise or facilitate imports under essential imports, energy imports, imports by export-oriented industry, imports for agriculture inputs, deferred payment / self-funded imports and import for export-oriented projects near completion.
SOURCE: BUSINESS RECORDER
