Exporters get more freedom to use foreign currency accounts

MG News | February 23, 2024 at 10:22 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

February 23, 2024 (MLN): The central bank has further eased rules for exporters, allowing them to use their Exporters’ Special Foreign Currency Accounts (ESFCAs) for any current account transactions abroad without prior approval.

The move is aimed at facilitating exporters and promoting ease of doing business.

"All exporters will be able to freely utilize the funds held in ESFCAs for making all types of payments abroad of current account nature, for their own business purposes, without prior SBP approval," said a notice issued by the Exchange Policy Department of the State Bank of Pakistan.

Moreover, on request of exporters, authorized dealers may issue debit cards against the balances held in ESFCAs, the notice said.

The central bank has asked the authorized dealers to bring these instructions to the knowledge of all their constituents for meticulous compliance.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	168,021.80 127.60M	-0.81% -1370.52
ALLSHR	101,556.94 354.31M	-0.67% -689.83
KSE30	49,991.48 75.67M	-0.94% -476.61
KMI30	238,953.80 53.22M	-0.89% -2154.95
KMIALLSHR	65,832.11 176.71M	-0.62% -413.39
BKTi	46,602.60 33.62M	-0.83% -389.71
OGTi	34,306.19 5.41M	-0.53% -182.74

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,040.00	76,580.00 75,040.00	-125.00 -0.16%
BRENT CRUDE	105.87	108.59 104.00	-2.88 -2.65%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	4.60 3.67%
ROTTERDAM COAL MONTHLY	138.50	0.00 0.00	-0.50 -0.36%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	102.57	105.63 100.97	-3.26 -3.08%
SUGAR #11 WORLD	18.01	18.18 17.68	0.07 0.39%