Football bladders: SBP withdraws 100 percent cash margin condition

The State Bank of Pakistan (SBP) Wednesday announced withdrawal of 100 percent cash margin condition on football bladders. According to BPRD Circular Letter No. 33 of 2017, issued on December 6, 2017, it has been decided to waive the condition of 100 percent cash margin requirement on imports made vide HS Codes 6310.9000, 9506.9912 (football bladder) with immediate effect. In exercise of powers vested in the State Bank of Pakistan under the Banking Companies Ordinance 1962, as on Feb 24, 2017, the SBP imposed 100 percent cash margin on the import of several items.