SBP facilitates exporters by restoring advance payment facility
KARACHI: The State Bank of Pakistan (SBP) has allowed the Authorized Dealers to effect advance payments upto $10,000/- per invoice on behalf of importers cum exporters for import of raw materials, accessories and spares.
Earlier, SBP had restricted the advance payment facility in July 2018 which was previously allowed to importers through Authorized Dealers. 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 have to import accessories, raw material and spare-parts for their exports. It is expected that this will improve the export environment.
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