SBP imposes cash margin on imports of 114 more items
State Bank of Pakistan (SBP) has decided to impose 100 per cent cash margin on imports of 114 more items in order to reduce the imports in the wake of devaluation of rupee, reported 24News HD TV channel on Thursday.
SBP instructed the banks to take 100 percent cash margin on the imports of 114 items to stabilize the Rupee’s declining value. Cash margin will now have to be paid on import of a total of 525 items, SBP said, adding that the measures aimed at reducing imports of non-essential items. It said that this decision would help balance payments.
Earlier, the SBP had also tightened the conditions on imported vehicles.