ISLAMABAD: The State Bank of Pakistan (SBP) has rescinded its earlier directive regarding delayed realization of export proceeds, instructing authorized dealers (ADs) to immediately release funds that were previously held under the lien of exporters.
According to a circular issued on Tuesday, the central bank mandated ADs to report all overdue export bills in their fortnightly submissions to the SBP’s Foreign Exchange Operations Department. The new directive, which takes effect immediately, aims to streamline the release of funds for exporters.
The SBP has also directed authorized dealers to ensure these instructions are communicated to all relevant stakeholders to ensure smooth implementation of the revised policy.
This move comes as part of efforts to facilitate exporters and improve the liquidity situation for businesses engaged in international trade.
