KARACHI: In order to facilitate industries, the State Bank of Pakistan (SBP) Thursday announced waiver of cash margin restriction on import of certain items.
According to the SBP, based on the representations of industries and other relevant stakeholders, it has been decided to waive the condition of 100 percent cash margin requirement on imports of some 11 items.
The cash margin condition has been waived on Carton, Box & Cases of corrugated paper or paperboard (HS Code 48191000), Covers Iner Body Ac Machines (HS Code 84159030), Other Parts Air/Vacuum Pumps (HS Code 84149090), AIR CONDITIONING MACHINES (HS Code 84159099), Evaporators (HS Code 84189910), Condensers (HS Code 84189920), Parts For H/Hold Wash Machine (HS Code 84509000), Elec Switch, Relays, Fuses (HS Code 85366990), Other Dryers (HS Code 84193900) and Sheath Contraceptives (HS Code 40141000).
The SBP has further clarified the banks that cash margin requirement will not be applicable on the imports made under HS Code 87021090 (Others) by Category-A and Category-B investors as defined in the Automotive Development Policy, 2016-2021. However, all other instructions will, however, remain unchanged, the central bank said.
Copyright Business Recorder, 2021