SBP to resolve issues of LCs, pending consignments

MG News | November 11, 2022 at 08:02 PM GMT+05:00

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November 11, 2022 (MLN): The State Bank of Pakistan (SBP) will resolve the issue faced by businesses and trade due to changed regulatory framework of Foreign Exchange, a press release issued on Friday showed.

During a meeting, SBP Governor Jameel Ahmed with Asim Ahmad Chairman FBR has discussed the stuck up consignments and opening of Letter of Credit (LCs) in context of SBP’s recent circulars to the banks.

Furthermore, Chairman FBR informed the Governor about implementation of newly issued foreign currency limitation for passengers travelling abroad and assures full cooperation of FBR including exchange of information with SBP.

Both sides agreed on close coordination between SBP and FBR for effective implementation of policies along with improved regulatory environment for economic development.

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