SBP abolished cash margin requirement for imports on IMF directives
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The State Bank of Pakistan has abolished the dollar cash margin requirement on imports from March 31, 2023.The SBP has issued a circular in this regard to all financial institutions.
To limit imports, the State Bank had imposed a cash margin requirement for luxury and non-essential goods.
The government imposed the ban in August 2022 to limit imports.
Experts said this cash margin is a form of security if the risk of non-payment is to be eliminated.
According to experts, the cash margin imposed on imports has been withdrawn on IMF directives.
