SBP simplifies imports from Afghanistan

0
2

KARACHI: State Bank of Pakistan (SBP) has made methods of registration of contracts and relevant payments easier at Torkham and Chaman crossing points.
This initiative from central bank is aimed at making imports from Afghanistan easier by reducing involvement of banks and making procedure simple.
All imports into Pakistan must be made compulsorily through the electronic import form (EIF), a statement by the SBP said on Monday. The EIF was implemented with a view to curb illegal and duplicate payments of imports from Pakistan by unscrupulous elements.
Pakistan has closed various crossing points along Afghan border after recent wave of terrorism claimed hundreds of lives across country. This closure resulted in halt of cross-border movement of goods.
“In order to address these difficulties and to facilitate traders of the above regions, the procedure for registration of contracts and payments there against has been simplified. Now, the requirement for routing of shipping documents against registered contract through banks shall not be mandatory for imports from Afghanistan through land routes. The Pakistani importers may now directly receive shipping documents from the Afghani exporters and get the goods cleared after attachment of Goods Declaration(s) with EIF. Once the importer gets the contract registered and ElF approved with the bank for multiple shipments, the importers shall not be required to approach the bank again and again for approval of EIF”, narrated SBP in a statement.
“The relaxation is expected to provide manifold benefits to the importers of above region by reducing their cost of doing business and efficient processing of goods clearance at Customs Stations bordering Afghanistan”, said SBP.

LEAVE A REPLY

Please enter your comment!
Please enter your name here