KARACHI: Ateeq-ur-Rehman, economic and financial analyst, has said that trade facilitation to business community in foreign exchange domain is a great step by the State Bank of Pakistan (SBP) specially the 100% margin against letter of credit for plant and machinery, spare parts and raw material for manufacturing concerns.

He said that expansion of digitization of foreign exchange by SBP completely discontinuing paper based submissions after June 2021 is another magnificent step to boost digital economy and eliminate cash economy.

He said SBPs refinance facilities announced in the month of February 2020 for stimulating investment in new manufacturing plants and machinery as well as modernization and expansion of existing projects were exceptional.

Copyright Business Recorder, 2021