KARACHI: March 25,2023: The State Bank of Pakistan (SBP) has taken a bold step and withdrawn cash margin restrictions on imports.
In a directive issued to the
Presidents/Chief Executive Officers
of the banks SBP has said refer to BPRD Circular No. 02 of 2017, BPRD Circular No. 5 of 2018 and subsequent instructions of restrictions of cash margin on imports of import of items stand withdrawn from March 30,2023.
SBP in its directive said “In this regard, it has been decided to withdraw existing Cash Margin Requirement (CMR) on import of items with effect from March 31, 2023”.
Accordingly, cash margin restrictions (CMR) instructions issued vide BPRD Circular No. 02 of 2017,circular No. 05 of 2018, circular Letter No. 30 of 2021, circular Letter No. 09 of 2022, circular Letter No. 25 of 2022 and circular Letter No. 37 of 2022 would stand withdrawn with effect from March 31, 2023.
