In order to facilitate the industries, the State Bank of Pakistan (SBP) has waived off the cash margin restriction on the import of certain items.
The SBP has decided to waive the condition of the 100 percent cash margin requirement on the imports of around 11 items while keeping in view the representations of the industries and other relevant stakeholders.
The items in concern include Carton, Box & Cases of corrugated paper or paperboard, Covers Iner Body Ac Machines, Other Parts Air/Vacuum Pumps, Air Conditioning Machines, Evaporators, Condensers, Parts for H/Hold Wash Machine, Elec Switch, Relays, Fuses, and Other Dryers and Sheath Contraceptives.
The SBP has further notified the banks that the cash margin requirement will not be applicable on the imports made under the HS Code 87021090 (Others) by the Category-A and Category-B investors as defined in the Automotive Development Policy, 2016-2021.
However, the central bank said that all the other instructions will remain unchanged.
Courtesy: Pro Pakistani