SBP restores advance payment facility
By Our Correspondent
January 02, 2019
KARACHI: The State Bank of Pakistan (SBP) has allowed banks (authorised dealers) to effect advance payments up to $10,000/invoice on behalf of importers-cum-exporters for import of raw materials, accessories and spares, a statement said on Tuesday.
Earlier, the SBP had restricted the advance payment facility in July 2018, which was previously allowed to importers through authorised dealers, it added.
However, on the intervention of the chamber of commerce and industry, trade associations and the Ministry of Commerce, it has been decided to relax this ban to the extent of exporter who has to import accessories, raw material and spare-parts for their exports. It is expected that this will improve the export environment, the SBP added.
-
Funeral Home Owner Sentenced To 40 Years For Selling Corpses, Faking Ashes -
Why Is Thor Portrayed Differently In Marvel Movies? -
Dutch Seismologist Hints At 'surprise’ Quake In Coming Days -
Australia’s Liberal-National Coalition Reunites After Brief Split Over Hate Laws -
DC Director Gives Hopeful Message As Questions Raised Over 'Blue Beetle's Future -
King Charles New Plans For Andrew In Norfolk Exposed -
What You Need To Know About Ischemic Stroke -
Shocking Reason Behind Type 2 Diabetes Revealed By Scientists -
SpaceX Cleared For NASA Crew-12 Launch After Falcon 9 Review -
Meghan Markle Gives Old Hollywood Vibes In New Photos At Glitzy Event -
Simple 'finger Test' Unveils Lung Cancer Diagnosis -
Groundbreaking Treatment For Sepsis Emerges In New Study -
Roblox Blocked In Egypt Sparks Debate Over Child Safety And Digital Access -
Savannah Guthrie Addresses Ransom Demands Made By Her Mother Nancy's Kidnappers -
OpenAI Reportedly Working On AI-powered Earbuds As First Hardware Product -
Andrew, Sarah Ferguson Refuse King Charles Request: 'Raising Eyebrows Inside Palace'