SBP imposes 100pc cash margin on imports

KARACHI: The State Bank of Pakistan (SBP) has imposed 100 percent cash margin requirement on import of certain non-essential consumer items, a statement said on Friday.

The regulatory measure would discourage the import of items including motor vehicles (both CKDs and CBUs), mobile phones, cigarettes, jewelry, cosmetics, personal care, electrical & home appliances, arms and ammunition and would have nominal impact on the general public, the bank said. 

The central bank has taken this initiative in exercise of powers entrusted to it under Banking Companies Ordinance, 1962.   “The State Bank expects that this regulatory measure would help accommodate incremental import of growth-inducing capital goods,” it added.