SBP waives off cash margin requirement on industrial items
- “Banks are further clarified 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,” said SBP.
In a bid to facilitate industrial products, the State Bank of Pakistan (SBP) has decided to waive the condition of 100 percent cash margin requirement on imports of certain items.
As per the central bank circular, the cash margin requirement has been waived for 11 items namely: cartons, boxes, cases, corrugated paper, condensers, evaporators, parts for hold wash machines, sheath contraceptives, dryers etc.
“Banks are further clarified 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,” said SBP.
Whereas, all other instructions contained in the aforementioned Circulars shall, however, remain unchanged.
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