State Bank of Pakistan (SBP) has lifted all restrictions on income (imports) and issued a circular to end the imposed limitations. SBP has fulfilled another condition of the International Monetary Fund (IMF) by removing all restrictions on income (imports) and issued a circular.
According to the circular issued by SBP, after lifting restrictions on income, banks have been given permission to release more than 6,000 stranded containers at ports in exchange for providing foreign exchange facilities.
As per the State Bank, the condition of preferential income for imports has been lifted, and now foreign exchange will be provided without any discrimination for all incomes. Authorized dealers of foreign exchange have been directed to provide foreign exchange for all incomes. The decision was made based on the recommendations of the stakeholders of the State Bank.
On the other hand, sources say that there is one week left for the completion of the IMF program, and the government is making every effort to satisfy the IMF. For this purpose, the condition of lifting income-based conditionalities of the IMF has also been fulfilled.
