{"id":69304,"date":"2020-08-17T12:50:54","date_gmt":"2020-08-17T07:50:54","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=69304"},"modified":"2020-08-17T12:50:56","modified_gmt":"2020-08-17T07:50:56","slug":"ecc-enhances-sbps-authorisation-limit-overseas-investments","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ecc-enhances-sbps-authorisation-limit-overseas-investments.html","title":{"rendered":"ECC enhances SBP&#8217;s authorisation limit for overseas investments"},"content":{"rendered":"\n<p>Islamabad: The Economic Coordination Committee (ECC) has raised the authorisation limit of the State Bank with regard to the endorsement of overseas investments made by local companies, a news source reported on August 15. Previously the central bank could endorse investments up to USD 5 million and required approval from the ECC in case of higher investments. The ceiling has now been raised up to USD 10 million.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/ecc-agrees-payment-roosevelt-hotels-outstanding-dues.html\" target=\"_blank\" rel=\"noreferrer noopener\">ECC agrees to payment of Roosevelt Hotel\u2019s outstanding dues<\/a><\/p>\n\n\n\n<p>The committee members made the decision while considering the case of Eastern Products (Pvt) Limited Pakistan and decided to empower SBP further on the matter.<\/p>\n\n\n\n<p>Minister for Planning, Development and Special Initiatives Asad Umar brought up the matter and emphasised that a revision in the upward limit for the central bank would improve the country\u2019s ease-of-doing business index. He also suggested that this limit should be revised after every five years.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/ecc-approves-pkr-23-6bn-budgetary-allocation-subsidised-housing-loans.html\" target=\"_blank\" rel=\"noreferrer noopener\">ECC approves PKR 23.6bn budgetary allocation for subsidised housing loans<\/a><\/p>\n\n\n\n<p>Advisor to the Prime Minister (PM) on Institutional Reforms and former Governor of State Bank Dr Ishrat Husain also agreed with the minister\u2019s views. In response, the ECC provided its approval to the suggestion of revision in the upper limit put forth by the minister.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Economic Coordination Committee (ECC) has raised the authorisation limit of the State Bank with regard to the endorsement of overseas investments made by local companies, a news source reported on August 15. Previously the central bank could endorse investments up to USD 5 million and required approval from the ECC in case of higher investments. The ceiling has now been raised up to USD 10 million. Read: ECC agrees to payment of Roosevelt Hotel\u2019s outstanding dues The committee members made the decision while considering the case of Eastern Products (Pvt) Limited Pakistan and decided to empower SBP further on the matter. Minister for Planning, Development and Special Initiatives Asad Umar brought up the matter and emphasised that a revision in the upward limit for the central bank would improve the country\u2019s ease-of-doing business index. He also suggested that this limit should be revised after every five years. Read: ECC approves PKR 23.6bn budgetary allocation for subsidised housing loans Advisor to the Prime Minister (PM) on Institutional Reforms and former Governor of State Bank Dr Ishrat Husain also agreed with the minister\u2019s views. In response, the ECC provided its approval to the suggestion of revision in the upper limit&hellip;<\/p>\n","protected":false},"author":57,"featured_media":64432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[21953,4412,21853],"persona":[],"class_list":{"0":"post-69304","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-economic-coordination-committee-ecc","9":"tag-overseas-investment","10":"tag-state-bank-of-pakistan-sbp","11":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECC enhances SBP&#039;s powers on overseas investments - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Economic Coordination Committee (ECC) has raised the authorisation limit of the State Bank with regard to the endorsement of overseas investments made by local companies, a news source reported on August 15.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/ecc-enhances-sbps-authorisation-limit-overseas-investments.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECC enhances SBP&#039;s powers on overseas investments - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Economic Coordination Committee (ECC) has raised the authorisation limit of the State Bank with regard to the endorsement of overseas investments made by local companies, a news source reported on August 15.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/ecc-enhances-sbps-authorisation-limit-overseas-investments.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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