Govt to roll back import restrictions from January 2

SBP, import, restrictions

ISLAMABAD: The federal government has decided to roll back the restrictions imposed on imports from January 2, 2023, in a bid to facilitate the industrialists and business persons, ARY News reported on Tuesday.

According to details, the development was announced by State Bank of Pakistan (SBP) in a circular addressed to the presidents and chief executives of all authorised dealers (Ads) in foreign exchange.

“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,” the circular stated.

The SBP noted it has been decided to withdraw the instructions 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,” it added.

However, the circular 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.

The SBP further said that ADs may actively engage with all their customers to process their requests, keeping in view the customers’ risk profile and liquidity conditions prevailing in the foreign exchange market. It advised the authorised dealers to bring the above instructions to the notice of all their constituents.

Earlier in December, the State Bank of Pakistan (SBP) rejected the rumours about the restrictions imposed on the opening of Letters of Credit (LCs) or contracts for the import of crude oil, liquefied natural gas (LNG) and other petroleum products.

In a statement, the central bank said it has not placed any restriction on opening of Letters of Credit (LCs) or contracts for import of crude oil, LNG and petroleum products.

“Such misinformation is being spread with ulterior motives to create uncertainty in the market,” the central bank added.



from Latest Pakistan News Breaking News from All over Pakistan - ARY News https://ift.tt/FhWzipD

Comments

Post a Comment

Popular posts from this blog

Texas shooting claims five lives, armed suspect on the loose

Image
 A man shot dead five neighbors including an 8-year-old boy after some of them had asked him to stop shooting a semiautomatic rifle in his front yard in Cleveland, Texas, because it was keeping their baby awake, police said on Saturday. Police were still looking for the suspect, who used an AR-15-style rifle in the shooting late inside the neighbors’ home on Friday, San Jacinto County Sheriff Greg Capers said. Sheriffs deputies were joined by FBI agents as they continued searching for the suspect, Francisco Oropeza, 38, in a nearby wooded area 18 hours after the attack, Capers said. “We are tracking him with dogs and men on horseback and drones in the air,” Capers said. Law enforcement had found an abandoned cellphone and some discarded clothing in the search area, Capers said. He was quoted as saying by other news outlets that all the victims were shot in the head “almost execution-style.” Police said all five victims were from Honduras. Officials from Capers’ office received a
Read more

DSP, gunman martyred in Lakki Marwat attack

Image
LAKKI MARWAT: Deputy Superintendent of Police (DSP), Gul Muhammad Khan and his gunman were martyred in an attack in Lakki Marwat in Khyber Pakhtunkhwa late Friday night. According to details, DSP Gul Muhammad Khan was on routine patrol on Manjiwala Road in Lakki Marwat when some unidentified assailants opened fire on police van due to which DSP Gul Muhammad Khan and his gunman were critically wounded. They were rushed to Tehsil Headquarters (THQ) Hospital Norang where both of them died during treatment. A heavy contingent of police reached the spot after the incident and cordoned off the area. Police have also launched a search operation in the area to arrest the culprits. Read more: CTD, police kills three terrorist in Lakki Marwat Earlier, the Counter-Terrorism Department (CTD) and Bannu police killed three terrorists affiliated with a banned outfit during an intelligence-based operation (IBO) in Ghazni Khel area of Lucky Marwat. The CTD spokesperson stated that an intelligen
Read more

Illegal immigrants involved in serious crimes in Karachi: Police chief

Image
KARACHI: Karachi police chief on Wednesday claimed that the illegal Afghan immigrants were involved in some heinous criminal activities in the metropolis, ARY News reported. During an exclusive interview with ARY News, the Karachi police chief – Khadim Hussain Rind – asserted that more than 43,000 illegal Afghan immigrants, involved in activities such as street crimes and house robberies in the city, were deported. “After the cleanup operation against illegal aliens the crime ratio in the city cut off by 4.9 percent,” he maintained. The city police chief stated that a crackdown against drug dealers was also conducted in Karachi. While responding to a question, Rind stated that a plan is being cooked regarding the security of PSL. from Latest Pakistan News and Breaking News from All over Pakistan https://ift.tt/zu8qS3r
Read more