{"id":91698,"date":"2023-01-24T11:13:20","date_gmt":"2023-01-24T06:13:20","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=91698"},"modified":"2023-01-24T11:13:22","modified_gmt":"2023-01-24T06:13:22","slug":"sbp-exemption-import-restrictions","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-exemption-import-restrictions.html","title":{"rendered":"SBP allows one-time exemption from import restrictions&nbsp;&nbsp;"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Monday (January 23) granted a one-time exemption from obtaining prior approval for import of essential food items in specific categories and codes, news sources reported.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/sbps-metro-bus-automation-isl.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP\u2019s assistance sought for metro bus project\u2019s fare automation in ISL<\/a><\/p>\n\n\n\n<p>The ease in import restriction will be in effect until March 31, 2023, and can only be availed by those importers who are registered with SBP. In this regard, the state bank has instructed commercial banks to process and release documents of shipments\/goods that have already arrived at a port in Pakistan or have been shipped on or<a href=\"https:\/\/www.zameen.com\/news\/sbp-ban-on-import-essential-items.html\" target=\"_blank\" rel=\"noreferrer noopener\"> before January 18, 2023.<\/a>\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p>The import restriction relief applies to authorized importers for items under HS Code Chapters 84 and 85, and certain items under Chapter 87, which deal with machinery and electrical equipment. The SBP has directed private banks to prioritize the import of food, pharmaceuticals, and energy products.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-500-mn-aiib-development-support.html\">SBP gets USD 500 mn from AIIB for development support<\/a><\/p>\n\n\n\n<p>According to the circular issued by the central bank, banks are to allow imports in the following order:&nbsp; Food and pharmaceuticals Petroleum and coal Raw material and spare parts for export-oriented industries Seeds Fertilisers and pesticides Deferred payment and self-funded imports Plant and machinery for the export-oriented projects near completion<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Monday (January 23) granted a one-time exemption from obtaining prior approval for import of essential food items in specific categories and codes, news sources reported.\u00a0\u00a0\u00a0 Read: SBP\u2019s assistance sought for metro bus project\u2019s fare automation in ISL The ease in import restriction will be in effect until March 31, 2023, and can only be availed by those importers who are registered with SBP. In this regard, the state bank has instructed commercial banks to process and release documents of shipments\/goods that have already arrived at a port in Pakistan or have been shipped on or before January 18, 2023.\u00a0\u00a0\u00a0 The import restriction relief applies to authorized importers for items under HS Code Chapters 84 and 85, and certain items under Chapter 87, which deal with machinery and electrical equipment. The SBP has directed private banks to prioritize the import of food, pharmaceuticals, and energy products.&nbsp;&nbsp; Read: SBP gets USD 500 mn from AIIB for development support According to the circular issued by the central bank, banks are to allow imports in the following order:&nbsp; Food and pharmaceuticals Petroleum and coal Raw material and spare parts for export-oriented industries Seeds Fertilisers and pesticides&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[56034,56035,6066,56036,55057,7361,56033],"persona":[],"class_list":{"0":"post-91698","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-56034","9":"tag-and-can-only-be-availed-by-those-importers-who-are-registered-with-sbp-in-this-regard","10":"tag-sbp","11":"tag-sbp-import-restriction","12":"tag-sbp-news-and-updates","13":"tag-secp","14":"tag-the-ease-in-import-restriction-will-be-in-effect-until-march-31","15":"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>SBP allows exemption from import restrictions - Zameen News<\/title>\n<meta name=\"description\" content=\"The ease in import restriction will be in effect until March 31, 2023, and can only be availed by those importers who are registered with...\" \/>\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\/sbp-exemption-import-restrictions.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP allows exemption from import restrictions - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The ease in import restriction will be in effect until March 31, 2023, and can only be availed by those importers who are registered with...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-exemption-import-restrictions.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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