The State Bank of Pakistan has waived 19 items from the condition of 35 percent cash margin requirement letters of credit. Sources said that the new list of waived items has been issued on the request of industrialists and importers, as a delegation of exporters and industrialist met the State Bank Governor on Tuesday.
The central bank, referring to its BPRD Circular Letter No 26 dated September 8, 2008 regarding minimum margin restriction on import LC, waived Cotton Fabrics, Cotton less than 85 and other items.
The waived items comprise wool and fine or coarse animal hair, carded, cotton yarn, synthetic filaments yarn, polypropylene, polyester, synthetic filament tow, waste, yarn waste and granted Stock of manmade fibbers, acrylic or modacrylic yarn, Yarn of Polyester Staple Fibres, textile fabrics coated, covered or lamented, pile fabrics and terry fabrics knitted or crochete, warp knit fabrics not of rubber and pile fabrics, articles and equipments for Sports etc NES. SBP said that other instructions contained in the above-referred Circular Letter would, however, remain unchanged.
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