Arms import: date extended

State Bank of Pakistan (SBP) has announced extended the deadline for opening of letter of credit (LCs) for 2006-07 for import of arms and ammunitions of non-prohibited bore (NBP). SBP EPD circular letter No 15 /IPU/2(47)-2007 to the heads of all authorised dealers in foreign exchange.
SBP said that Ministry of Commerce had already issued letter no. 2(8)/2004-RO on July 4 on the subject, in which the ministry extended the date for opening of LCs by commercial importers of NPB arms and ammunition up to July 15 subject to a monetary ceiling mentioned in each authorisation.