SBP allows $ 10,000 advance payment for raw material imports

SBP has allowed advance payments of up to $ 10,000 or equivalent per invoice on behalf of manufacturing concerns for import of raw material and spare parts for their own use only. SBP Governor Dr Reza Baqir said previously prior permission of Foreign Exchange Operations Department was required but the restriction has been removed. He said important decisions have been taken to improve economy particularly following the exchange rate stability and ease of doing business improvements. The SBP will also increase financing limits under Export Financing Scheme (EFS) and Long-Term Financing Scheme (LTFS) by PKR 100Bn.