The State Bank of Pakistan has directed the banks regarding the clearance of import documents and said that the banks should clear the documents of the payers by arranging the foreign exchange.
State Bank says it has provided banks with a mechanism to clear import documents, asking banks to prioritize imports of food, medicine, energy etc.
The State Bank said that the business community has identified import cargo stuck at the port, cargo stuck at the port due to non-clearance of shipping documents, and banks have been asked to clear imports for payments of 180 or more days in advance.
The central bank says that banks have been asked to clear the goods ordered by January 18 by March 31.
The State Bank also said that it has directed banks to make it mandatory for customers to seek permission before buying imported goods.
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