Exporters get more freedom to use foreign currency accounts

News Image

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

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 125,627.31
258.99M
1.00%
1248.25
ALLSHR 78,584.71
1,142.41M
1.16%
904.89
KSE30 38,153.79
69.25M
0.63%
238.06
KMI30 184,886.50
91.38M
0.01%
13.72
KMIALLSHR 53,763.81
554.57M
0.54%
290.61
BKTi 31,921.68
33.15M
1.78%
557.94
OGTi 27,773.98
9.65M
-0.40%
-112.21
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,730.00 108,105.00
107,505.00
-505.00
-0.47%
BRENT CRUDE 66.38 66.63
66.34
-0.36
-0.54%
RICHARDS BAY COAL MONTHLY 97.00 97.00
97.00
1.05
1.09%
ROTTERDAM COAL MONTHLY 107.65 107.65
105.85
1.25
1.17%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.72 65.02
64.67
-0.39
-0.60%
SUGAR #11 WORLD 16.19 16.74
16.14
-0.52
-3.11%

Chart of the Day


Latest News
July 01, 2025 at 06:00 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


June 30, 2025 at 11:55 PM GMT+05:00

TRG: Dominos Tumbling for the Management



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg