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State Bank of Pakistan allows advance payment for imports

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The State Bank of Pakistan on last week allowed advance payments on imports of essential items which have been restricted by the caretaker government.

The SBPsaid that it has been decided to allow advance payments on imports of items worth or up to $10,000 and also on open account imports basis up to the said limit for items like life saving drugs.

Advance payments were allowed for import of lifesaving, essential medicines and devices subject to submission of a certificate to an authorised dealer issued by respective provincial health department confirming that the medicines, devices and instruments to be imported fall under life saving and essential category.