The State Bank of Pakistan (SBP) eased its rules on exporting earnings on Tuesday. In accordance with EPD Circular 02 of 2022 to Authorized Forex Dealers. The State Bank has clarified that the amendments to the Circular of January 5, 2022, do not apply to exports for which letters of credit with a validity of up to 180 days have been issued or prepared until the date of issue In all these cases, the SBP is given in addition to the proposed exemption. Authorized Resellers (ADs) do not allow changes beyond 180 days of the delivery/expiry date of the LC/modifications to the LC or delivery to the expired LC or other requirements and conditions related to the engagement of the QC after the publication of the above circular
Aurangzeb says ‘all options on table’ to replace UAE’s $3.5bn loan, weighs strategic fuel reserve
Pakistan is exploring multiple financing options, including Eurobonds, loans from friendly countries, and commercial borrowing, to replace a $3.5 billion...
