Karachi September 30 2021: The State Bank of Pakistan (SBP) has decided to impose 100% Cash Margin Requirements (CMR) on import of 114 items, taking the total number of items subject to Cash Margin to 525. The measure will help discourage imports of these items and thus support the balance-of-payments. This is the second step taken in recent days, in this regard. Earlier, SBP revised prudential regulations for
Consumer Financing prohibiting financing for imported vehicles.
Cash margins are the amount of money an importer has to deposit with its bank for initiating an import transaction, such as opening a letter of credit (LC), which could be up to the total value of import. Cash margins essentially increase the cost of imports in terms of the opportunity cost of amount deposited and thus discourage imports.
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It would be pertinent to mention here that 100% cash margin requirement was initially imposed, in 2017, on 404 items to discourage the import of largely non-essential and consumer goods. The list was further expanded in 2018. However, in order to enable businesses to absorb the shocks of COVID19 pandemic, SBP provided relief by removing CMR on 116 items.
With economic growth having recovered and gaining momentum, SBP has decided to adjust its policy by imposing Cash Margin Requirement on additional 114 import items. This will complement SBP’s other policy measures to ease the pressure of import bill and help to contain the current account deficit at sustainable levels.
| S. No | HS Code | Description |
| 1 | 9041110 | PEPPER,BLACK,CRUSH NOT GROUND |
| 2 | 9083120 | SMALL CARDAMONS NITHER-CRU/GRO |
| 3 | 12024200 | GROUND-NUTS SHELLED BROKEN/N-B |
| 4 | 12030000 | COPRA |
| 5 | 14049020 | BETAL LEAVES |
| 6 | 15132900 | OTH PALM KERNEL/BABASSU OIL |
| 7 | 15162010 | VEGETABLE FAT & ITS FRACTIONS |
| 8 | 15179000 | OTH MARGARIN,EDIB MIX/PREP ETC |
| 9 | 23040000 | OIL-CAKE/OTH S/RESID SOYABEAN |
| 10 | 23066000 | OIL CAKE/OTH RESIDUE,PALM NUTS |
| 11 | 23099000 | OTH PREPARATION FOR ANIMAL FEE |
| 12 | 24012000 | TOBACO-WHOLY/PARTLY STE/STRIP |
| 13 | 63014000 | BLANKET/TRAVEL RUGS OF SYN FIB |
| 14 | 69072119 | OTH FLAGS,PAVING WAT AB 0.5% |
| 15 | 69072219 | OTH FLAGS,PAV WAT AB >0.5%<10% |
| 16 | 69072390 | OTH,CERAMICS WAT AB >10% |
| 17 | 70109000 | OTH CARBOYS BOTT,FLASK,JAR,POT |
| 18 | 70134900 | O-GL-WARE L-C-EX=5x10 T,0-300C |
| 19 | 85444990 | OTH MULTI CORE CABLE |
| 20 | 87059000 | OTH SPECIAL PURPOSE MOTOR VEHL |
| 21 | 87082939 | BODY PARTS OF OTHER VEHICLES |
| 22 | 87084090 | OTH GEAR BOXES/PART OTH VEHICL |
| 23 | 87141020 | COMPPONNENT FOR VEHICLE-H-8711 |
| 24 | 1019000 | OTHER LIVE ANIMALS |
| 25 | 0805 | OTHER SIMILAR CITRUS HYDRIDS (0805.2100,0805.2200,0805.2910,0805.2990) |
| 26 | 0808 | PEARS AND QUINCES, FRESH (0808.3000,0808.4000) |
| 27 | 9081100 | NUTMEG NEITHER CRUSHED/GRO |
| 28 | 9083110 | LARGE CARDAMOMS NITHER-CRU |
| 29 | 10049000 | OTHER OATS |
| 30 | 10061090 | OTH RICE IN HUSK (PADDY/RO |
| 31 | 10079000 | OTHER GRAIN SORGHUM(JAWAR) |
| 32 | 12024100 | OTH GROUND NUTS IN SHELL |
| 33 | 22029100 | NON-ALCOHOLIC BEER |
| 34 | 22029900 | OTH WATER |
| 35 | 34011910 | OTHER BABY WIPES |
| 36 | 34011990 | OTH,SOAP ORG-SURFAC-ACT PR |
| 37 | 40112011 | RADIAL RUBB TYRE FOR LIGHT |
| 38 | 40112019 | OTH RUBB TYRE FOR LIGHT TR |
| 39 | 40112091 | RADIAL TYRE RUBBER FOR BUS |
| 40 | 40112099 | OTH PNEUM TYRE RUBBER FOR |
| 41 | 40114000 | NEW PNEUM TYRE RUBB MOTORC |
| 42 | 69072111 | TILES POLISHED WAT AB 0.5% |
| 43 | 69072190 | OTH,CERAMICS WAT AB 0.5% |
| 44 | 69072211 | TILE POLISHED WAT AB >0.5% |
| 45 | 69072290 | OTH,CERAMICS WAT AB >0.5%< |
| 46 | 69072319 | OTH FLAGS,PAVINGS WAT AB > |
| 47 | 69073000 | MOSAIC CUBES AND SIMLAR AR |
| 48 | 69074000 | FINSHING CEREMICS |
| 49 | 73211119 | OTHER COOKING RANGES |
| 50 | 84151019 | OTH WINDOW/WALL TYPE AC/SP |
| 51 | 84151029 | S-CON AC/SPLIT INER-OUTER |
| 52 | 84151039 | TROPICAL MPS MUL-SYS UNIT> |
| 53 | 84151099 | OTH AC MACH MOTOR DRIVEN F |
| 54 | 84158190 | O-AC INCOR REFRI UNIT VALV |
| 55 | 84158290 | O- AC INCOR REFRIGIRATING |
| 56 | 84158390 | O-AC NOT INCROPO REFRIG UN |
| 57 | 84181090 | OTH COMB REFRIG-FREEZ W-DO |
| 58 | 84182190 | OTH REFRIG H-HOLD COMPRES |
| 59 | 84182990 | OTH REFRIGERATOR HOUSHOLD |
| 60 | 84183090 | OTH FREEZER CHEST TYPE-800 |
| 61 | 84184090 | OTH FREZER UPRIGHT TYP-900 |
| 62 | 84191190 | OTH INST GAS WATER HEATER |
| 63 | 84501190 | OTH WASHIN MACH FUL-AUT NO |
| 64 | 84501290 | O-MACH BUILT-CENTRIFUGAL D |
| 65 | 84501919 | OTH WASH MACH SEMI AUTO<10 |
| 66 | 84501999 | O-MACH DRY LINE CAPA -NOT> |
| 67 | 84502090 | MACHINE DRY LINE CAP EXCE1 |
| 68 | 85165090 | MICROWAVE OVENS |
| 69 | 85287211 | LIQUID CRYSTAL DISPLAY(LCD |
| 70 | 85287219 | OTH COLOR TV SETS |
| 71 | 85287290 | OTH RECEPTION APPARAT COLO |
| 72 | 85393110 | ENERGY SAVING LAMPS |
| 73 | 87081010 | BUMPERS (SHET METAL)VEH H- |
| 74 | 87141010 | SADDLES OF MOTORCYCLES,MOP |
| 75 | 15091000 | OLIVE OIL & ITS FRACT (VIR |
| 76 | 15099000 | OTH OLIVE OIL & ITS FRACTI |
| 77 | 15131100 | COCONUT OIL,ITS FRACTION C |
| 78 | 15131900 | OTH COCONUT OIL,ITS FRACTI |
| 79 | 15171000 | MARGARINE,EXCL LIQUID MARG |
| 80 | 24011000 | TOBACCO,NOT STEMMED/STRIPP |
| 81 | 69149000 | OTH CERAMIC ARTICLES O/TH |
| 82 | 70099100 | UNFRAMED GLASS MIRRORS |
| 83 | 70099200 | FRAMED GLASS MIRRORS |
| 84 | 14049049 | OTH VEGE MATE USED FOR BRO |
| 85 | 15162020 | VEGETABLE OILS & ITS FRACT |
| 86 | 16010000 | SAUSE,PROD MEAT-FOOD PREP |
| 87 | 32089090 | OTH PAINT BASED ON SYN.POL |
| 88 | 35069190 | OTH POLYMER BASE ADHESIVE |
| 89 | 38089110 | MOSQUITO COIL, MATE&THE LI |
| 90 | 38121000 | PREPARED RUBBER ACCELERATO |
| 91 | 39199090 | OTH SELF-ADHESIVE FILM,FOI |
| 92 | 40094190 | OTH HOSES MADE OF RUB+OTH- |
| 93 | 40111000 | NEW PNEUM TYRES FOR MOTOR |
| 94 | 44111200 | (MDF)THICKNESS NOT EXCEEDI |
| 95 | 48025600 | OTH PAPER&PAPERBOARD IN SH |
| 96 | 48026200 | OTH PAPER&PAPER BOARD IN S |
| 97 | 48030000 | TOILET FACIAC TISSUE/TOWEL |
| 98 | 48041100 | KRAFTINER UN COATED UN-BLE |
| 99 | 48042100 | SACK KRAFT PAPER,UNBLEACHE |
| 100 | 48101390 | OTH WRIT/READ GRAPHIC IN R |
| 101 | 48101990 | OTH WRITING PAPER/PAPERBOA |
| 102 | 48132000 | CIGRETTE PAPER IN ROLL WTH |
| 103 | 48139000 | OTH CIGARET PAPER,BOOKLET/ |
| 104 | 63080000 | SETS OF WOVEN FABRICS AND |
| 105 | 64059090 | FOOTWEAR OF OTHER MATERIAL |
| 106 | 68022100 | MARBLE,TRAVETINE & AIABAST |
| 107 | 68022300 | GRANITE |
| 108 | 68022900 | OTHER BUILDING STONE CUT/S |
| 109 | 68029100 | OTH MARBL TRAVERTIN&ALABAS |
| 110 | 68029300 | OTHER GRANITE |
| 111 | 68029900 | OTHER STONE |
| 112 | 70139900 | O-GLASSWARE INDOOR DECORAT |
| 113 | 96190020 | SCENT SPRAY SIMI TOILET SP |
| 114 | 96190030 | SCENT SPRAY SIMI TOILET SP |
