October 31, 2022 (MLN): The Government after a discussion with State Bank of Pakistan (SBP) has decided to issue Letter of Credit (LCs) amounting to $100,000, a press release issued on Monday showed.

Finance Minister Ishaq Dar said, ““The government had earlier announced that LCs and payments of up to $50,000 would be released. I met with the SBP governor today, and we decided that we will increase this amount to $100,000”.

Nearly 1335 pending LCs of amounting $100,000 will start getting clear from November 1.

Furthermore, 2200 cases of LCs to be pending which will be cleared soon with consultation of SBP and other banks.

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Posted on: 2022-10-31T23:13:04+05:00

News Id :35694