Stuck-up consignments, new LCs discussed

E-Paper | October 02, 2026

Stuck-up consignments, new LCs discussed

The Newspaper's Staff Reporter Published November 12, 2022

ISLAMABAD: The Federal Board of Revenue (FBR) and the State Bank of Pakistan on Friday discussed ways for the release of stuck-up consignments and the opening of new letters of credit (LCs).

An official announcement said FBR Chairman Asim Ahmad and SBP Governor Jameel Ahmad in their meeting discussed various issues in the context of the central bank’s recent circulars to the banks.

The SBP governor said the central bank will try to resolve the issues faced by businesses and trade due to the changed regulatory framework of foreign exchange.

Mr Asim reiterated the full cooperation of FBR including the exchange of information with SBP. He also informed the SBP governor about the implementation of newly issued foreign currency limitations for passengers travelling abroad.

Both agreed on close coordination between SBP and FBR for effective implementation of policies along with an improved regulatory environment for economic development, added the announcement.

Published in Dawn, November 12th, 2022

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Business

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Confidence tricks

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Abid

Nov 12, 2022 11:21am

World economy is facing the heat of inflation and Pakistan is no exception, but we are not only facing the economic downturn, political instability is also creating the situation much worst. The failure to take the difficult decision on time has put the country in a deep hole.

Recommend 0

Mansur Ul Haque

Nov 12, 2022 12:21pm

Dar predictions?He claimed to have decades of experience in dealing with IMF and other institutions.As per him dollar will come down below 200 rupees within days.What were the basis of his prediction?Rates are determined by the forces of demand and supply.Accordingly we have secured many financial assistance deals with lenders/friends.Still LC'S are pending.Miftah has washed dirty laundry,yet he was criticizing him by sitting in the lab of Nawaz Sahrif.Show your road map of economy.

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DEMAGOGUE

Nov 12, 2022 04:40pm

FBR has no domain to see imports or exports. SBP, m/o Commerce do have. Hard earned exchange being wasted on imports of nonessential items. The luxury cars, and parts of luxury big cars are expensive, and huge exchange spent on this. A simple arithmetic needed ban big cars, cosmetics, and all those items already produced locally. Things can come under control.

Recommend 0

M. Saeed

Nov 12, 2022 09:29pm

After blockage and wastage of over 7,000 food and medicines container at Karachi port, courtesy FBR's harsh rules, another new hurdle from cruel corruption den?

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