KARACHI: TDAP organised an awareness session for the exporters in collaboration with the State Bank of Pakistan at TDAP Headquarter, Karachi on Thursday. The training was attended by more than 150 exporters.

The objective of the training was to create awareness among the exporters about the initiative being taken by SBP to facilitate the exporters. The targeted session was focused on: SBP’s Export Facilitation Desk & its complaints redressal mechanism; making import payments through Non-Resident Accounts (NRA’s); and facilitation of payments via Asian Clearing Union (ACU).

Talking about the Asian Clearing Union (ACU), Obaid Bin Muslim (Deputy Director- Finance Department) said that ACU is a multilateral payments arrangement that periodically settle payments for intra-regional transactions among the participating central banks.

Currently, there are 9 members in the Union where Pakistan is one of the founding member. In Year 2021, the total transactions under ACU mechanism stood at $28.8 Billion out of which Pakistan contributed $948.91 million.

Copyright Business Recorder, 2023