business
December 4, 2019
Oil refineries may hold foreign currency accounts
ISLAMABAD: The government is considering a proposal to allow oil refineries to retain their export proceeds in foreign currency accounts in order to help them sustain price volatility in international markets, The News learnt on Tuesday.“Subject to applicable regulations of the State Bank of Pakistan and fulfilling all codal formalities, refineries shall be allowed to open and maintain foreign currency account and retain export proceeds in foreign currency to meet the operational/ emergency...