The State Bank of Pakistan (SBP) has rescinded its advice to give priority to specific goods or industries in a circular sent to Authorized Dealers.
Following the circular's instructions, "authorized dealers are hereby invited to the EPD Circular Letter No. A warning was sent to the authorized dealers on December 27, 2022, to give some imports/sectors priority.
According to the circular, it has been decided to revoke the aforementioned instructions with immediate effect in light of the representations received from various stakeholders. Additionally, the directives in EPD Circular Letter Nos. The revocation of Nos. 09, dated May 20, 2022, and 11, dated July 5, 2022, should continue.
It is significant to note that the aforementioned circular directed the ADs to give precedence to imports from specific industries. Essential imports were ranked first on the priority list published by the central bank, followed by imports of energy, goods used by industries focused on exports, inputs for agriculture, The sixth and last place goes to imports with deferred payments or self-funding, as well as imports for export-oriented projects that are nearly finished.
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