SB s abolishes dollar cash margin requirement on imports

The State Bank of Pakistan has abolished the dollar cash margin requirement on imports from March 31, 2023, reported 2 4NewsHD TV channel Friday.

The SBP has issued a circular in this regard to all financial institutions.

To limit imports, the State Bank had imposed a cash margin requirement for luxury and non-essential goods.

The government imposed the ban in August 2022 to limit imports.

Experts said this cash margin is a form of security if the risk of non-payment is to be eliminated.

According to experts, the cash margin imposed on imports has been withdrawn on IMF directives.