SBP allows 100% advance payment for imports
In a circular issued by the central bank, the advance payment facility of up to $10,000 against import invoice without the requirement of the letter of credit or bank guarantee from the supplier abroad has been permitted.
“In this regard, it has been decided that the above facility, allowed to authorized dealers to make advance payments, stands withdrawn with immediate effect. However, in case, authorized dealers deem that a request on the subject merits consideration, they may approach State Bank of Pakistan along with appropriate recommendations on a case to case basis,” reads the circular.
“All other instructions on the subject shall remain unchanged,” it added.
- PM Imran, President Alvi extend felicitations to Muslims on Eid ...11:57 AM | 19 Oct, 2021
- Eid Milad-un-Nabi: Mobile phone services partially suspended in parts ...11:33 AM | 19 Oct, 2021
- Defamation suit: ARY UK apologises to Ishaq Dar over ‘fabricated’ ...11:04 AM | 19 Oct, 2021
- Iran invites Pakistan to multilateral conference on Afghanistan10:36 AM | 19 Oct, 2021
- Zalmay Khalilzad, US envoy who brokered Afghan exit, resigns two ...10:04 AM | 19 Oct, 2021
- Atif Aslam pays tribute to late Farhad Humayun with iconic song06:00 PM | 18 Oct, 2021
- Ertugrul star Esra Bilgic in search of Pakistani NGOs05:00 PM | 18 Oct, 2021
- Priyanka Chopra goes scuba diving in Spain (VIDEO)05:25 PM | 18 Oct, 2021
- Pakistani celebrities who passed away in 202102:00 PM | 17 Oct, 2021
- India falls to 101 in Global Hunger Index 2021, 9 ranks below Pakistan10:54 AM | 16 Oct, 2021
- Celebrity deaths in 202111:59 PM | 12 Oct, 2021
- Hollywood stars with surprising hidden talents07:11 PM | 13 Sep, 2021