Karachi April 7 2022: State Bank of Pakistan has decided that banks, with immediate effect, shall obtain 100 percent cash margin on the import of 177 items.
The cash margins on these specific items will remain in place till December 31, 2022.
The cash margins deposited by importers on all items shall be non-remunerative.
To ensure effective monitoring, banks are required to submit details of cash margins, applicable on all items, collected from importers on monthly basis.
Data for ongoing month should be reported to Statistics & Data Ware House Department latest by the 10th of the following month. Further, monthly data for the period September 2020 to March 2022 is required to be submitted on the same format latest by June 30, 2022.
All other instructions contained in the aforementioned circulars shall, however, remain unchanged.