State Bank announced relaxation of cash margin requirement for importers￼
KARACHI: State Bank has abolished the condition of 100% cash deposit for importers and reduced the cash margin to 25%.
According to the details, the State Bank announced relaxation of the cash margin condition to give relief to the importers.
State Bank scrapped 100% cash deposit requirement on imports to 25%.
The central bank says that the importers will have the facility of twenty-five percent cash margin for 91 to 180 days and preserve percent cash margin on imports for one hundred and eighty days and above.
It should be remembered that the current government ordered importers to deposit 100% cash on 170 imported items in April 2022.
It should be remembered that the operations of 4 branches of two exchange companies will be suspended. State Bank has suspended the operations of 4 branches of two exchange companies while tightening the supervision of foreign exchange operations of exchange companies and banks.
State Bank had also imposed fines on some exchange companies some time ago.